topic Re: Advice needed…High SL 0% CC in Credit Card Applications

Advice needed…High SL 0% CC

Tcoward84 — Wed, 28 Sep 2022 00:15:40 GMT

I need about 10-12K. I’m having surgery in December and need to finance it. I’m looking at getting the longest 0% interest CC or a personal loan. I don’t think I would be approved for a PL because my income is household. My husband’s credit is less than stellar so, don’t want him on the loan. I applied for Care Credit back in July and got approved for 12K but, I need about 10-12k more. I also was preapproved for the Commenity Alphaeon card but, was denied when I applied..which totally blindsided me. What is my best option? What card or loan (if household income is accepted) would be my best bet? My credit is fairly new after letting all my old charge offs/baddies fall off my report. I have no negatives, no late payments, and 9% Utilization. I do have a lot of inquiries though and no mortgage or other loans.

Thanks so much in advance!

MY PROFILE/CREDIT SNAPSHOT:

FICO 8 Scores: EX- 728 TU- 743 EQ- 721

DTI: 21%

UTIL: 10%

Tradelines/CCs: 15

AAoA: 2 years 2 months

INQ: EQ 2 TU 3 EX 8 (last 24 mo)

TOTAL BALANCES $3280

TOTAL AVAILABLE CREDIT $38500

Re: Advice needed…High SL 0% CC

OmarGB9 — Wed, 28 Sep 2022 01:08:45 GMT

Definitely I'd recommend a PL. You should be able to use household income (and not your husband's credit, though) as long as you file taxes together.

Re: Advice needed…High SL 0% CC

Tcoward84 — Wed, 28 Sep 2022 13:04:49 GMT

Thanks for your reply and advice. I wasn't sure I could use household income. We do file jointly. Any idea which PLs accept household income?

Re: Advice needed…High SL 0% CC

OmarGB9 — Wed, 28 Sep 2022 15:47:10 GMT

Hmm looking further into it, using hh income may also require the other person to cosign. So perhaps you'd have to go for a CC after all if only wishing to use combined income; I know CCs allow you to use hh income even for a personal application.

You'd have to call and ask a PL company if they'll accept hh income without using the other person's credit, too. I'd try calling and asking Penfed, Upstart.

For CCs, look into NFCU if possible, Citi (Diamond Preferred card, as it has a long 21 month 0% APR on BTs), or a local credit union.

Re: Advice needed…High SL 0% CC

SDMarik — Thu, 29 Sep 2022 12:48:05 GMT

Your siggy says you have $38k available credit, is that accurate? Are you looking for more credit to pad the util? What cards do you currently have? Do you have a relationship with Amex? If so they have some pretty easy PL options that fund super quick.

Re: Advice needed…High SL 0% CC

Tcoward84 — Thu, 29 Sep 2022 15:15:23 GMT

Yes, that's pretty accurate. I don't want to max out my cards/util. I don't have any Amex accounts but, have looked into them. I had 2 of their cards years ago (15+ years). Most of my cards are low limit cards with the exception of Care credit and Discover.

Re: Advice needed…High SL 0% CC

NoMoreE46 — Sun, 02 Oct 2022 04:17:14 GMT

You said no mortgage.

Do you own your home then?

Re: Advice needed…High SL 0% CC

Tcoward84 — Sun, 02 Oct 2022 14:48:44 GMT

No, we rent. We sold our home last year and are renting for the next couple of years.

Re: Advice needed…High SL 0% CC

SouthJamaica — Sun, 02 Oct 2022 16:45:51 GMT

@Tcoward84 wrote:
I need about 10-12K. I’m having surgery in December and need to finance it. I’m looking at getting the longest 0% interest CC or a personal loan. I don’t think I would be approved for a PL because my income is household. My husband’s credit is less than stellar so, don’t want him on the loan. I applied for Care Credit back in July and got approved for 12K but, I need about 10-12k more. I also was preapproved for the Commenity Alphaeon card but, was denied when I applied..which totally blindsided me. What is my best option? What card or loan (if household income is accepted) would be my best bet? My credit is fairly new after letting all my old charge offs/baddies fall off my report. I have no negatives, no late payments, and 9% Utilization. I do have a lot of inquiries though and no mortgage or other loans.
Thanks so much in advance!

MY PROFILE/CREDIT SNAPSHOT:
FICO 8 Scores: EX- 728 TU- 743 EQ- 721
DTI: 21%
UTIL: 10%
Tradelines/CCs: 15
AAoA: 2 years 2 months
INQ: EQ 2 TU 3 EX 8 (last 24 mo)
TOTAL BALANCES $3280
TOTAL AVAILABLE CREDIT $38500

Your best bet would be to apply for a credit union, non-rewards, low interest, no-balance-transfer-fee, no-cash-advance-fee, platinum card. Find a credit union that offers one, apply for membership, and apply for the card.

Many of the best deals are with credit unions that are restricted to where you live, work, worship, volunteer, go to school, or to where you or your husband are employed. Some open membership credit unions offering this type of card are BECU, Chartway, Unify, and Interior. NFCU offers one but is somewhat restricted.

Re: Advice needed…High SL 0% CC

NoMoreE46 — Sun, 02 Oct 2022 19:54:09 GMT

@Tcoward84 wrote:
No, we rent. We sold our home last year and are renting for the next couple of years.

Gotcha.

Re: Advice needed…High SL 0% CC

SDMarik — Tue, 04 Oct 2022 15:28:54 GMT

@Tcoward84 wrote:
Yes, that's pretty accurate. I don't want to max out my cards/util. I don't have any Amex accounts but, have looked into them. I had 2 of their cards years ago (15+ years). Most of my cards are low limit cards with the exception of Care credit and Discover.

Hit up Citi pre-qual, they're pretty BT friendly lately. I get no less than 3 mailers per week on Citi BT cards. 0% for 21 months I think right now. They can be decent with SL also. When I got my first Citi card, I didn't have any cards with limits over $4,500, total revolving CL was under $15k Ficos were like 715, and they gave me a SL of $8,500 (I think).

Re: Advice needed…High SL 0% CC

Tcoward84 — Thu, 06 Oct 2022 17:40:21 GMT

Thanks for the tip!

Are there any rules for Citibank? For example, #inquiries/6mo, # new accounts, past card with them, etc? I'm getting pre-qual denials (from a few issuers) the past few days and, can't figure out why? I know prequals aren't always accurate but, very discouraging :/

Re: Advice needed…High SL 0% CC

coldfusion — Thu, 06 Oct 2022 17:54:52 GMT

@Tcoward84 wrote:
Thanks for the tip!

Are there any rules for Citibank? For example, #inquiries/6mo, # new accounts, past card with them, etc? I'm getting pre-qual denials (from a few issuers) the past few days and, can't figure out why? I know prequals aren't always accurate but, very discouraging :/

For quite a while Citi was loosely following a 'no more than 6 inquiries/accounts in the last 6 months' guidance for highly qualified applicants but recent history suggests that they've tightened up quite a bit.

More to the point though Citibank leans toward being conservative with starting limits, especially for a first-time Citi cardholder. A $12K SL wouldn't be unheard of for a 1st Citi card but it would be unusually high.

Re: Advice needed…High SL 0% CC

FinStar — Thu, 06 Oct 2022 17:58:03 GMT

@Tcoward84 wrote:
Thanks for the tip!

Are there any rules for Citibank? For example, #inquiries/6mo, # new accounts, past card with them, etc? I'm getting pre-qual denials (from a few issuers) the past few days and, can't figure out why? I know prequals aren't always accurate but, very discouraging :/

It is profile-specific. Citi can and may take into consideration inquiries, recently opened accounts, overall TCL, income, etc. If you had any past negative relationship with Citi, that would be considered as well. However, based upon the information you shared further upthread, it's highly doubtful Citi will start out with any high CL or anything greater than $10K. If approved (key word being *if*), you may likely see something in the lower range.

You can try their pre-selcetion website, but keep in mind those offers are not pre-qualified nor pre-approved. Thus, not 100% guaranteed.