topic Re: New Cards On The Way! in Credit Card Approvals

New Cards On The Way!

Anonymous — Thu, 23 Oct 2014 16:39:50 GMT

Hi everyone,

I just recently joined the community, after stalking the forum topics for quite a while. I thought my new card would be a perfect way to introduce myself.

A little background -

Full time Student at USF

Studying Accounting/Finance

First Card - Capital One Platinum? $300 CL

Since then I've studied credit quite a bit on my own, and have slowly raised my score and tried to build a portfolio for myself.

Current Cards:

Best Buy Store Card - $700 CL

Walmart Mastercard (recent CLI of $3000) - $5300 CL

AMEX Blue Cash Everday - $2500 CL

Discover IT - $2500 CL

Chase Freedom - $3500 CL (I plan on closing this as soon as my two new cards arrive, for reasons stated above.)

and the two new additions

BofA Cash Rewards - $2000 CL

Barclay Arrival - $4000 CL

Closed Cards:

Capital One Platinum (to avoid that pesky fee)

Citi Diamond Preferred - $3500 CL

Barclay NFL Card - $5000 CL

For those of you who think closing those cards is strange, I did it because I wanted to keep the number of cards I have down, while settling with 4 stronger (for lack of better word) cards that I can steadily increase limits on throughout the future. Seeing as I'm still younger, my established history is 2.5 years (Best Buy/Walmart) or younger, with my average age being a year, so taking the slight dip now closing a few cards, for a more long-term plan seemed like a no brainer.

I chose to keep my Best Buy card because it was my oldest account (and I am techy, and enjoy the perks of having it, even with a small limit) and the Walmart because it's very close to the same age as my Best Buy Card and provides that free FICO report!

I currently sit at the 1-5% utilization mark every month, depending on the month. Other than that I do have a *small* car note, I am a cosigner on another car note for my father (although he is in the process of refinancing, now that I think about it) and a single semester of student loans, unfortunately neither my car note or my student loan could have been avoided at the time that I took them on.

I look forward to becoming a part of the community and hearing what everyone has to say!

Re: New Cards On The Way!

revjamesl — Thu, 23 Oct 2014 04:06:52 GMT

Congrats!

Re: New Cards On The Way!

wacdenney — Thu, 23 Oct 2014 04:07:38 GMT

I was forced to close both my original Cap 1 cards also when after three years they continued to tell me it wasn't possible to remove the fee. They said the fee covered the excellent "customer service" I was recieving if you can believe that.

I took a slightly different approach than you on the others. I closed WalMart as it was beyond useless to me and I'm holding on to Diamond Prefferred until I can PC it to Double Cash.

I do agree with the concept of closing useless cards in general, however. I have several now that are doomed to be closed eventually. I have had so many INQs in 2014 that I'm making my New Years resolution to NOT app for anything in 2015. I'll wait until right before my Jan 2016 spree to close them out. Might as well SD them in the meantime.

Re: New Cards On The Way!

AvadaKedavra — Thu, 23 Oct 2014 04:09:24 GMT

Welcome to the forum! Congrats on the new cards. I'm also in the process of closing some which were some of my firsts/rebuilders.

Re: New Cards On The Way!

Anonymous — Thu, 23 Oct 2014 04:16:50 GMT

I think you could've moved barclay nfl card credit limit to new arrival. feel free to correct me if i'm wrong.

Re: New Cards On The Way!

Anonymous — Thu, 23 Oct 2014 04:17:05 GMT

I've considered closing my WalMart card, but I just can't bring myself to do it. I don't get much use out of it, I pump gas with it on occasion if I'm actually at a WalMart, for that 5 cent/gallon savings. I suppose it's somewhat sentimental as it was my first limit over $1000. I'm sure I'll part ways with it at some point, but for now it's my little buddy.

I'm going to attempt to not App anything this upcoming year as well. I have two INQs falling off in January/February 2015, so I app'd for my two new cards, but now that they're secured I don't imagine I'll feel the need to App anything until post graduation. *fingers crossed*

Re: New Cards On The Way!

Anonymous — Thu, 23 Oct 2014 04:18:30 GMT

My NFL card was closed prior to the opening of the other BarClay card, so I didn't think the transfer was a possiblity. If I'm wrong please let me know, I'd love to at least attempt to transfer some of that balance.

Re: New Cards On The Way!

jsucool76 — Thu, 23 Oct 2014 06:16:29 GMT

Congrats!

But the gators are better

Re: New Cards On The Way!

Anonymous — Thu, 23 Oct 2014 06:17:46 GMT

@Anonymous wrote:
I've considered closing my WalMart card, but I just can't bring myself to do it. I don't get much use out of it, I pump gas with it on occasion if I'm actually at a WalMart, for that 5 cent/gallon savings. I suppose it's somewhat sentimental as it was my first limit over $1000. I'm sure I'll part ways with it at some point, but for now it's my little buddy.

I'm going to attempt to not App anything this upcoming year as well. I have two INQs falling off in January/February 2015, so I app'd for my two new cards, but now that they're secured I don't imagine I'll feel the need to App anything until post graduation. *fingers crossed*

I wouldn't.

You can refresh your TU FICO daily on it.

Re: New Cards On The Way!

Anonymous — Thu, 23 Oct 2014 09:56:32 GMT

Congratulations!...Thanks For Sharing..

Re: New Cards On The Way!

MissMoni223 — Thu, 23 Oct 2014 15:53:30 GMT

WELCOME to the forum, thanks for sharing!!!

Re: New Cards On The Way!

Jerry45 — Thu, 23 Oct 2014 16:07:05 GMT

Sweet CLI at Walmart. Was that a Automatic CLI?

Re: New Cards On The Way!

taxi818 — Thu, 23 Oct 2014 16:21:43 GMT

@Anonymous wrote:
@Anonymous wrote:
I've considered closing my WalMart card, but I just can't bring myself to do it. I don't get much use out of it, I pump gas with it on occasion if I'm actually at a WalMart, for that 5 cent/gallon savings. I suppose it's somewhat sentimental as it was my first limit over $1000. I'm sure I'll part ways with it at some point, but for now it's my little buddy.

I'm going to attempt to not App anything this upcoming year as well. I have two INQs falling off in January/February 2015, so I app'd for my two new cards, but now that they're secured I don't imagine I'll feel the need to App anything until post graduation. *fingers crossed*
I wouldn't.

You can refresh your TU FICO daily on it.

Well I tried what you say it does not work for all of us.

Re: New Cards On The Way!

Anonymous — Thu, 23 Oct 2014 18:27:49 GMT

Welcome to the forum and congrats on your approval

Re: New Cards On The Way!

Anonymous — Thu, 23 Oct 2014 20:41:39 GMT

@taxi818 wrote:
@Anonymous wrote:
@Anonymous wrote:
I've considered closing my WalMart card, but I just can't bring myself to do it. I don't get much use out of it, I pump gas with it on occasion if I'm actually at a WalMart, for that 5 cent/gallon savings. I suppose it's somewhat sentimental as it was my first limit over $1000. I'm sure I'll part ways with it at some point, but for now it's my little buddy.

I'm going to attempt to not App anything this upcoming year as well. I have two INQs falling off in January/February 2015, so I app'd for my two new cards, but now that they're secured I don't imagine I'll feel the need to App anything until post graduation. *fingers crossed*
I wouldn't.

You can refresh your TU FICO daily on it.
Well I tried what you say it does not work for all of us.

Un-enroll from FICO score. Re-enroll. Gives fresh score. Repeatable daily.

Re: New Cards On The Way!

SunriseEarth — Thu, 23 Oct 2014 21:52:03 GMT

Congrats on approvals!

As for the account closures, the Cap One Platinum is understandable. The rest really aren't. I would have tried to PC the Citi to something more useful for you, assuming it was open for more than 12 months. If it wasn't open for 12 months, I would have SDed it until it was. I would have tried to PC Barclays, too, or at least reallocated the CL to the new Arrival before you closed it.

Since you haven't closed the Freedom, I'd really recommend just SDing it. For scoring purposes, you do need a certain amount of TLs with zero balances for optimization. It's easy to do that if you have CCs in the SD.

Re: New Cards On The Way!

alvon123 — Thu, 23 Oct 2014 23:57:45 GMT

congrats