topic Re: app time in Credit Cards

app time

Anonymous — Tue, 12 May 2009 17:50:13 GMT

with the new cc legislation pending, do you think it is time to app. some say it will be very difficult for people with mid 6's to get cc's! i only want to get 2 cards- the cabela's and my own credit union. any ideas? r u out there- TxJohn and other mods?

Re: app time

203bravo — Tue, 12 May 2009 17:53:43 GMT

Predicating it to be difficult to get cards after the legislation passes or now? Currently mid 6's has not slowed down issuing cards. may not get the prime cards, but can get some cards.

Re: app time

rom828 — Tue, 12 May 2009 18:54:53 GMT

@Anonymous wrote:
with the new cc legislation pending, do you think it is time to app. some say it will be very difficult for people with mid 6's to get cc's! i only want to get 2 cards- the cabela's and my own credit union. any ideas? r u out there- TxJohn and other mods?

I'm wondering the same thing! Should we "get while the gettin's good"??

I have 3 Amexes, Green, Blue and Delta, DH has Citi and BoA. We both have Discover. I also have Juniper and Juniper B/N that I got last Oct/Dec primarily for the TL purpose. These 2 combined would help to offset my Blue limit if somehthing happened there, but still leaves some vulnerability.

With all the Amex and BoA CLDs and Citi rate hikes I keep reading about on this forum, I'm thinking we should act on getting more lines to potentially replace these three "in case". Amex provides my largest CL and BoA is DH's.

Our current utilization is around 23% or less and we are focused on getting to 1-9% asap. Definitely want to NOT carry any balances, other than that needed to report for best scoring. So while our intent is not have a bunch of cards with balance, we do subscribe to the theory (which I saw expressed on this forum) that the time to get credit is when you don't need credit.

I do believe we'll be seeing much more of a tightening of credit requirements and increased interest rates for cards, especially as legislation passes reducing fees, etc.

I don't want to 'alarm' any existing cards with an all out app spree, but I've also thought of Cabela's for one or both of us, as well as Kroger 1-2-3 and/or a Chase product if possible.

I'd love to hear from the MODS, and ayone else who can chime in on this subject. To app or not to app...that is the question!! Inquiring minds like Keith and myself, want to know!!

Message Edited by rom828 on 05-12-2009 11:54 AM

Re: app time

Anonymous — Tue, 12 May 2009 20:13:57 GMT

What makes you think that getting approved for a credit card will be difficult in the future?

Re: app time

Anonymous — Tue, 12 May 2009 22:51:34 GMT

young ent., they have already said the ccc's will do belt tight. when the bill is passed and i do want it passed!! no more double-cycle billing and the ccc's better have a good **bleep** reason for cld's(lates,etc.) !!!

Re: app time

Anonymous — Tue, 12 May 2009 22:55:38 GMT

sorry for the bad word in previous post but i am pissed!! i have seen on this forum where my friends are getting cld's with excellent scores-no lates, etc. and it just doesnt make any sense!! guys, i feel your pain!!!!!!!!

Re: app time

rom828 — Wed, 13 May 2009 16:02:37 GMT

You're right, keithc....many people are getting the CLDS...and many that I've read about seem to be in much better overall credit health than me!

As I mentioned in my post above, that's why I want to got some other TLs in place. I've even heard the advice to do so on some of the financial shows, especially if your highest limits are tied to one bank, which mine are (Amex).

Hopefully some of the mods and others will chime in with their thoughts and advices!

Re: app time

Anonymous — Wed, 13 May 2009 17:07:13 GMT

I app'd for Cabela's last week - DENIED...

***********************************************************************
800FICOwannabe

05/04/09 - FICO scores: EQ - 660, TU - 647
04/21/09 - FICO scores: EQ - 711, TU - 642
02/28/09 - updated Tri-Merge: EQ - 699, EX - 651, TU - 571
09/01/08 - starting scores Tri-Merge (Morgtage Enhanced): EQ - 607, EX - 556, TU - 534

Re: app time

rom828 — Wed, 13 May 2009 17:18:48 GMT

@Anonymous wrote:
I app'd for Cabela's last week - DENIED...

***********************************************************************
800FICOwannabe

05/04/09 - FICO scores: EQ - 660, TU - 647
04/21/09 - FICO scores: EQ - 711, TU - 642
02/28/09 - updated Tri-Merge: EQ - 699, EX - 651, TU - 571
09/01/08 - starting scores Tri-Merge (Morgtage Enhanced): EQ - 607, EX - 556, TU - 534

800...can you give more particulars? What was the reason for the denial? What baddies do you have and how's your utilization?? I was hoping to get this card after reading a lot of posts on it.

Re: app time

Anonymous — Wed, 13 May 2009 17:22:34 GMT

One CO (3 yrs ago), one vol. repo (1 yr ago - I was the co-signer for my nephew...), and that's it...util is around 20%

***********************************************************************
800FICOwannabe

05/04/09 - FICO scores: EQ - 660, TU - 647
04/21/09 - FICO scores: EQ - 711, TU - 642
02/28/09 - updated Tri-Merge: EQ - 699, EX - 651, TU - 571
09/01/08 - starting scores (Tri-Merge Morgtage Enhanced): EQ - 607, EX - 556, TU - 534

Re: app time

rom828 — Wed, 13 May 2009 17:30:31 GMT

Did they consider the re-po too new maybe? I saw posts from people w/numerous baddies and lots of inqs getting this card, so just trying to determine if I ought to even try it since you got denied with just 2!

Message Edited by rom828 on 05-13-2009 10:30 AM