Long story semi-short... 700-740 fico depending on which one.... I've had lots of different car loans, and a mortgage but only 2 revolving lines (both only $250) in the past 7 years. I applied and got approved through psecu for there ploc/visa combo for $20,000. I do a lot of car loans through them so I figured it wouldn't be a problem, but i'm probably on the edge for other banks ploc that I don't have that history with. What I want to do is open another personal loc, pull the money off the second line of credit, then balance transfer that to psecu to take advantage of the 2.99 transfer promo rate instead of 9.99%. My question is, since before I got approved for this 2 days ago I really didn't have any revolving credit worth speaking of, am I better off applying for another one now before this one shows up on my credit or waiting for it to show up on my credit that I have 2 lines with $20,000 limits? I just remember once before when building my credit I started with low limit cards and the next offers would just keep getting gradually higher than the last building off each other..... So is it better for a bank to know that another bank has trusted me with 2 $20,000 limits or better to look like I don't have any at all? I hope this makes sense
after thinking about this a minute i guess the second line woudnt HAVE to be a PLOC and could be a cc since im just going to transfer it anyway, but i like the idea of PLOC's and the lower interest rates than credit cards. Any advise on PLOC's that I might be able to qualify for?
