Reply
Member
galaxy
Posts: 23
Registered: ‎10-14-2012
0

Re: New and need some help [approved for Blue] Thank you ! :)

Thank you for your help, :smileyhappy:

 

now I wounder, the BLUE card should be outdated for more than 9 years of history, I wounder if I should wait until it reports to CR

when I paid the balance my FICO score went up tp 745, this when I applied for the BCP and got instant approval, I am sure the score will drop a littel after 

the inq however the FICO score sim tells me that my score should go UP right away after the CBP because the 2 main reasons 

for pulling my score down acording to myFICO are:

1- no revolving account 

2- co credit card reporting [ only charge card ]

so, should I wait for a month until this happends [ also an Inq is due to be droped in the next few days ], and apply for Chase Freedom 1st ? or go with Walmart 

I would like also to have Amex Delta card, but waitting for a better bonus offer 

 

Best Regards

 

Established Contributor
jamie123
Posts: 781
Registered: ‎03-22-2012
0

Re: New and need some help [approved for Blue] Thank you ! :)

I would normally advise you to apply for the Walmart card now, but seeing how your AMEX BCE has such an outstanding CL I would advise you to wait until the BCE reports. Lenders look at your existing CL to determine what they will grant you as their starting CL.

 

Make sure you use the BCE as soon as you can, then wait until 2 weeks after your first statement's payment due date before applying for new cards.

 

I think you need to plan a mini app spree at that point. You could do so much better than a Chase Freedom card. I would still advise getting the Walmart at that point though. Walmart is really a good card to carry. They are the world's largest corporation after all.



Starting Score: EQ 658 6/18/12
Current Score: EQ 683 8/24/14 - EX 687 7/21/14 - TU 682 7/21/14
Goal Score: EQ 720+
Take the FICO Fitness Challenge
Member
galaxy
Posts: 23
Registered: ‎10-14-2012
0

Re: New and need some help [approved for Blue] Thank you ! :)

Wallmart, I agree with you, will get that , better than Freedom ? what do you recommend ?

 

Established Contributor
jamie123
Posts: 781
Registered: ‎03-22-2012
0

Re: New and need some help [approved for Blue] Thank you ! :)

I take that back! If you want a CC with cash back and no annual fee, Chase Freedom is a good card.

 

For your app spree a month or so from now, I would suggest applying for the Chase Freedom first and then the Walmart card. Apply for them one right after another on the same day.

 

After the Chase and Walmart cards are 6 months old I would suggest applying for 2 more cards, one each from the following prime banks:

 

CitiBank (Diamond Preferred, Cash Back)

Bank of America (1-2-3 Rewards, Cash Back)

Discover

Wells Fargo

 

You will then have enough credit to last a lifetime. You will have credit cards with 4 out of the 6 prime banks that do business in the USA. If you take care of these cards they will take care of you. You can call every 6 months for CLIs if you feel your CL aren't high enough and get them.

 

Make sure you stop back and let us know how it is going.



Starting Score: EQ 658 6/18/12
Current Score: EQ 683 8/24/14 - EX 687 7/21/14 - TU 682 7/21/14
Goal Score: EQ 720+
Take the FICO Fitness Challenge
Member
galaxy
Posts: 23
Registered: ‎10-14-2012
0

Re: New and need some help [approved for Blue] Thank you ! :)

Thank You, I will follow that, 

and will send updates here :smileyhappy:

 

Best Regards

Established Contributor
jamie123
Posts: 781
Registered: ‎03-22-2012
0

Re: New and need some help [approved for Blue] Thank you ! :)

Good luck!



Starting Score: EQ 658 6/18/12
Current Score: EQ 683 8/24/14 - EX 687 7/21/14 - TU 682 7/21/14
Goal Score: EQ 720+
Take the FICO Fitness Challenge

myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.

>> About myFICO
FICO Score - The Score that matters
Click to Verify - This site chose VeriSign SSL for secure e-commerce and confidential communications.
Fair Isaac Corporation is a BBB Accredited Financial Service in San Rafael, CA
FOLLOW US Social Media Facebook Twitter Pinterest Google+