topic Re: Some advice for my next move with CCs? in Credit Cards

Some advice for my next move with CCs?

Anonymous — Mon, 01 Feb 2016 16:58:42 GMT

Hi everyone!

My scores have been pretty wild lately... they were all in the 750 range when I closed on my first house this September; before the mortgage I applied for a Chase Sapphire and was accepted. Now that the mortgage has recently shown up on the reports and all of my inquiries are live my scores are 716/736/748. So, I'm curious as to whether (judging from some of my weak credit cards) should I try for another good credit card or simply start gardening?

Bank of America BankAmericard Rewards $6,000 Opened 2008 (I get 1.5x points all the time, so I tend to use this for as much as possible)

CapitalOne Platinum $650 Opened 2004 (never use it really)

USAA Cash Rewards $3,500 Opened 2007 (never use it really)

Chase Sapphire $19,000 (WOAH! plan to use this whenever I eat or travel in order to get the points)

I don't need more credit cards, necessarily, but are there things I should do to improve the usage of the ones I have? Thanks!

Re: Some advice for my next move with CCs?

Anonymous — Mon, 01 Feb 2016 17:03:02 GMT

Actually, to reply to my own thread... I just noticed that there is a much more attractive USAA card available, the Cashback Rewards Plus which would cover groceries and gas. I wonder if I can upgrade my card to that one?

Re: Some advice for my next move with CCs?

Anonymous — Mon, 01 Feb 2016 17:13:59 GMT

Pretty sure that USAA does not do product changes

Re: Some advice for my next move with CCs?

Chris679 — Mon, 01 Feb 2016 19:26:21 GMT

@Anonymous wrote:
Hi everyone!

My scores have been pretty wild lately... they were all in the 750 range when I closed on my first house this September; before the mortgage I applied for a Chase Sapphire and was accepted. Now that the mortgage has recently shown up on the reports and all of my inquiries are live my scores are 716/736/748. So, I'm curious as to whether (judging from some of my weak credit cards) should I try for another good credit card or simply start gardening?

Bank of America BankAmericard Rewards $6,000 Opened 2008 (I get 1.5x points all the time, so I tend to use this for as much as possible)
CapitalOne Platinum $650 Opened 2004 (never use it really)
USAA Cash Rewards $3,500 Opened 2007 (never use it really)
Chase Sapphire $19,000 (WOAH! plan to use this whenever I eat or travel in order to get the points)

I don't need more credit cards, necessarily, but are there things I should do to improve the usage of the ones I have? Thanks!

If there are cards out there with rewards that would really benefit you I think now is a good time for you to open 1-2 new cards. You should also look for 0% apr for new house related expenses. If there is nothing out there that you would really use then I would just sit tight, you are already in pretty good shape.

Re: Some advice for my next move with CCs?

NRB525 — Mon, 01 Feb 2016 19:44:04 GMT

That old Capital One Platinum can probably be PC to a Quicksilver, with no AF. Keep that card open.

You can also consider a new app for Venture, to take advantage of the sign up bonus, get a larger CL and then decide in 6 months whether you want to combine the CL into your "new improved 2004 QS"

Re: Some advice for my next move with CCs?

Anonymous — Mon, 01 Feb 2016 21:43:01 GMT

yup, I called them and am not able to upgrade to that card in particular. So, I need to apply separately.

Re: Some advice for my next move with CCs?

Anonymous — Mon, 01 Feb 2016 21:44:25 GMT

do you think my credit scores would be high enough to get the venture card? That is attractive for the 40,000 bonus points if i spend a couple grand in 3 months. (which I most likely will, installing new electrical, furniture, tools, etc.)

Re: Some advice for my next move with CCs?

dragontears — Mon, 01 Feb 2016 21:48:33 GMT

@Anonymous wrote:
do you think my credit scores would be high enough to get the venture card? That is attractive for the 40,000 bonus points if i spend a couple grand in 3 months. (which I most likely will, installing new electrical, furniture, tools, etc.)

check Cap1 prequal page (hint rate your credit as excellent) if the venture comes up with a set APR you have a very very good chance for approval

Re: Some advice for my next move with CCs?

Anonymous — Tue, 02 Feb 2016 03:20:39 GMT

@dragontears wrote:

check Cap1 prequal page (hint rate your credit as excellent) if the venture comes up with a set APR you have a very very good chance for approval

does it matter how you respond to this: What card benefit is most important to you?

Re: Some advice for my next move with CCs?

Anonymous — Tue, 02 Feb 2016 03:26:15 GMT

when did u last request a CLI with BOA? you could probably double or triple (or more) your CL but it will cost you a HP

Re: Some advice for my next move with CCs?

Kevin86475391 — Tue, 02 Feb 2016 03:36:28 GMT

Well, I'm conservative about credit matters. If it were me I'd garden a good long time (1-2 years at least) without applying for anything new and probably not asking for any HP CLIs either. You've got some good cards already. I'd sit tight and enjoy them and just focus on your new home and letting your credit profile cool off and take a break.

Congrats on your new home! :-)