topic 840 FICO 8 Score, $65,000 in available credit currently, 0% utilization-new card or CLI on existing? in Credit Card Applications

840 FICO 8 Score, $65,000 in available credit currently, 0% utilization-new card or CLI on existing?

StihlBilly — Mon, 16 Oct 2023 13:37:23 GMT

Basically just wondering where to go from here. My highest limit is on my Lowes/Syncrhony Bank at $20,000. I also have the following:

Capital One Quicksilver Visa - $17,500

Citibank Diamond Preferred Visa - $11,500

PNC Core Visa - $12,500

PNC Cash Rewards Visa - $2,500

Should I try for CLI? I know sometimes they are a soft pull so there's no downside to trying-any suggestions on new cards to go for?

Re: 840 FICO 8 Score, $65,000 in available credit currently, 0% utilization-new card or CLI on exist

SouthJamaica — Mon, 16 Oct 2023 15:00:33 GMT

@StihlBilly wrote:
Basically just wondering where to go from here. My highest limit is on my Lowes/Syncrhony Bank at $20,000. I also have the following:
Capital One Quicksilver Visa - $17,500
Citibank Diamond Preferred Visa - $11,500
PNC Core Visa - $12,500
PNC Cash Rewards Visa - $2,500
Should I try for CLI? I know sometimes they are a soft pull so there's no downside to trying-any suggestions on new cards to go for?

Well what benefits or rewards do you need or want that you don't have? If the answer is nothing, then I don't see why you should apply for any new cards. If you'd like to add travel rewards of some kind, or some other types of features, let us know the details of what you would like, and I'm sure you'll be flooded with recommendations.

It never hurts to ask for a soft pull CLI, as long as you're sure it's a soft pull.

Re: 840 FICO 8 Score, $65,000 in available credit currently, 0% utilization-new card or CLI on exist

coldfusion — Mon, 16 Oct 2023 16:15:34 GMT

Based on a quick look, what you've already got touches on unstructured/uncategorized spend (Quicksilver - 1.5% cashback), low APR/balance transfer cards (PNC Core/Diamond Preferred), and the PNC Cash rewards is a 4% gas/3% restaurant/2% grocery card. If you're thinking about adding to your portfolio look at what your biggest categories of spend are and look for a card that optimizes rewards for 1 or more of those categories that is substantively better than what you have now. The Quicksilver is a decent card and you have a good working limit so I don't think you need to think anytime soon about looking for another card as your daily driver.

To give an example of what I mean, if you don't do the majority of your grocery shopping at either Walmart or Target you might want to take a look at the Citi Custom Cash to be dedicated to grocery spend for 5% cashback on up to $500/month spend. Citi has reportedly clamped down on product changes recently but you could consider calling and trying to product change your Diamond Preferred over instead of applying for a new card.

Another option, if you did a lot of grocery shopping, or even just shopping in general, at Target would to either apply for a RedCard credit card to get 5% back on Target purchases, or even get a RedCard debit card - while the debit card directly links to your checking account you still get 5% back on purchases.

Re: 840 FICO 8 Score, $65,000 in available credit currently, 0% utilization-new card or CLI on exist

Im-back — Tue, 17 Oct 2023 03:28:49 GMT

If you are looking for a card with potential for large credit limits, I suggest NFCU Flagship. Treat Navy well, they will treat you well.

Re: 840 FICO 8 Score, $65,000 in available credit currently, 0% utilization-new card or CLI on exist

Meanmchine — Tue, 17 Oct 2023 04:18:57 GMT

840 score I would suggest hitting the Chase preapprovals page if youre an existing customer

Good luck

Re: 840 FICO 8 Score, $65,000 in available credit currently, 0% utilization-new card or CLI on exist

Horseshoez — Tue, 17 Oct 2023 09:23:02 GMT

@StihlBilly wrote:
Basically just wondering where to go from here. My highest limit is on my Lowes/Syncrhony Bank at $20,000. I also have the following:
Capital One Quicksilver Visa - $17,500
Citibank Diamond Preferred Visa - $11,500
PNC Core Visa - $12,500
PNC Cash Rewards Visa - $2,500
Should I try for CLI? I know sometimes they are a soft pull so there's no downside to trying-any suggestions on new cards to go for?

What is it you need? More credit? Doesn't sound like it. Travel benefits? Maybe.

I'm pretty much in your shoes, high credit rating, zero debt (other than a car loan), virtually the same amount of available credit on cards; the only substantial difference between us is I do have a travel card. As for my plans on increasing my card count or my credit limit; I have none, I see absolutely zero benefit to seeking more credit or more cards.

Well, the last statement above is not entirely true, my job is supposed to entail travel every other week, however, in the 29 months I've worked for my current company I've taken exactly one trip, and it was only a day trip. If my travel does ramp up, I'll probably apply for a United Club card, but in that case, the additional credit will be a byproduct of the new card and largely irrelevant for my purposes.

Re: 840 FICO 8 Score, $65,000 in available credit currently, 0% utilization-new card or CLI on exist

FishingGuy — Sat, 21 Oct 2023 15:58:08 GMT

Unless you're doing home improvements your Lowes highest card.... doesn't do much for you. If you're looking to increase your available credit, I would contact your other existing cards and ask for soft CLI's, and not do any hard pulls..... see what you can get there without any hard pulls. ( Citi will do this every 6 months ) I usually put nice spend on those cards two months before and pay it off in full prior to applying for CLI's and have always received them.

Then analyze which cards would benefit your spending habits as well as offer you higher lines...... and apply for those slowly & strategically over a period of time..... so you don't show credit seeking behavior. This has worked for me...... Best of luck.