topic Re: Best Credit Cards to apply for (Pre-Approval Options Only) with 620-640 FICO in Credit Cards

Best Credit Cards to apply for (Pre-Approval Options Only) with 620-640 FICO

GoHooterGo — Thu, 10 Mar 2022 21:49:31 GMT

Looking to go on a mini spree in a month or two.

As of right now:

FFCU: $4,000

Captial One QS: $3,000

Credit One Amex: $2,000

MFCU: $1,000 (Secured)

FFCU: $500 (Joint)

Looking to go after higher CL's and increase my overall available credit limits and more positive accounts reporting.

AAoA: 3.5 Years

Newest Account: 4 Months (CapOne QS and Credit One Amex)

INQ: 1-3 (Depending on the CRA)

FICO Score: 620-640

Suggestions?

Or should I work on asking for CLI's?

Re: Best Credit Cards to apply for (Pre-Approval Options Only) with 620-640 FICO

OmarGB9 — Thu, 10 Mar 2022 22:06:01 GMT

I'd focus more on SP CLIs.

Do you have any negatives?

Re: Best Credit Cards to apply for (Pre-Approval Options Only) with 620-640 FICO

FinStar — Thu, 10 Mar 2022 22:12:58 GMT

@GoHooterGo wrote:
Looking to go on a mini spree in a month or two.

As of right now:

FFCU: $4,000
Captial One QS: $3,000
Credit One Amex: $2,000
MFCU: $1,000 (Secured)
FFCU: $500 (Joint)

Looking to go after higher CL's and increase my overall available credit limits and more positive accounts reporting.

AAoA: 3.5 Years
Newest Account: 4 Months (CapOne QS and Credit One Amex)
INQ: 1-3 (Depending on the CRA)
FICO Score: 620-640

Suggestions?

Or should I work on asking for CLI's?

You mentioned you're looking for CLIs to increase available credit...are you bumping up against your current limits on the cards you currently have?

CLIs can take time depending on your history + your current lenders. For instance, FFCU would likely be a HP to request one. Capital One has the option to request a CLI after 6 months and it's SP. With that being said, it appears you've added 2 newer accounts and with scores being on the lower end, time seems to be your best friend -- just let things age. On the plus side, your existing accounts plus the new ones you've added will contribute to positive reporting.

You can always try some of the pre-qualification sites from the thread below, but just keep in mind that pre-qualified and/or pre-approved is not always 100% guaranteed -- profile-dependent of course.

https://ficoforums.myfico.com/t5/General-Credit-Topics/Soft-Pull-Pre-Qualify-Links-Part-2-Updated-2-10-2022/td-p/6435323

Re: Best Credit Cards to apply for (Pre-Approval Options Only) with 620-640 FICO

GoHooterGo — Thu, 10 Mar 2022 23:46:16 GMT

I have a few negatives, mostly late payments from about 3-5 years ago.

I was pre-approved for a Upgrade CC for $2,000 but decided not to pursue it based on the bad reviews I've read.

Re: Best Credit Cards to apply for (Pre-Approval Options Only) with 620-640 FICO

RehabbingANDBlabbing — Fri, 11 Mar 2022 10:49:26 GMT

I would try Truist, Discover, and American Express with those scores. I think you should see an offer from at least one of them if your negatives aren't too recent and your utilization isn't crazy.

Re: Best Credit Cards to apply for (Pre-Approval Options Only) with 620-640 FICO

AverageJoesCredit — Fri, 11 Mar 2022 11:13:29 GMT

@RehabbingANDBlabbing wrote:
I would try Truist, Discover, and American Express with those scores. I think you should see an offer from at least one of them if your negatives aren't too recent and your utilization isn't crazy.

Those scores seem low for Amex or Discover though Discover may be more possible. I think trying to find pre-approval for the score range only will be a challenge and imo if one is really credit seeking not to box one self in by setting such tight parameters.

Re: Best Credit Cards to apply for (Pre-Approval Options Only) with 620-640 FICO

SouthJamaica — Fri, 11 Mar 2022 15:11:10 GMT

@GoHooterGo wrote:
Looking to go on a mini spree in a month or two.

As of right now:

FFCU: $4,000
Captial One QS: $3,000
Credit One Amex: $2,000
MFCU: $1,000 (Secured)
FFCU: $500 (Joint)

Looking to go after higher CL's and increase my overall available credit limits and more positive accounts reporting.

AAoA: 3.5 Years
Newest Account: 4 Months (CapOne QS and Credit One Amex)
INQ: 1-3 (Depending on the CRA)
FICO Score: 620-640

Suggestions?

Or should I work on asking for CLI's?

Personally I think you've got to work on getting your scores up first. Applications at this stage will probably get you a lot of wasted hard pulls.

Once you've got your scores up closer to 700 you might want to take a whack at the Amex BCE.

Re: Best Credit Cards to apply for (Pre-Approval Options Only) with 620-640 FICO

jcooks — Fri, 11 Mar 2022 16:37:53 GMT

Whats your utilization on the current cards you have? That would be a big factor as well.

Re: Best Credit Cards to apply for (Pre-Approval Options Only) with 620-640 FICO

DONZI — Sat, 12 Mar 2022 19:40:32 GMT

@GoHooterGo How do you use the $10.5k?

That's a respectable amount of spending you can summon up at will..

Clearly no more late payments and time will help all around.

Maybe work on unsecuring the MFCU card and/or just experiment with AZEO to see how hacking your score influences it for a few months.

If you can't pull off (best case) AZEO then you should consider taking a step back and examine the way forward. If floating $$ monthly on the card(s) is necessary then there are probably some existing or new options to optimize that.

If optimal AZEO is possible, knowing how much of a score boost you get would perhaps also offer the possibility to break out with a new card from Disco or Amex in 2-3 months.

Re: Best Credit Cards to apply for (Pre-Approval Options Only) with 620-640 FICO

HeavyResist — Sat, 12 Mar 2022 19:46:13 GMT

@GoHooterGo wrote:
Looking to go on a mini spree in a month or two.

As of right now:

FFCU: $4,000
Captial One QS: $3,000
Credit One Amex: $2,000
MFCU: $1,000 (Secured)
FFCU: $500 (Joint)

Looking to go after higher CL's and increase my overall available credit limits and more positive accounts reporting.

AAoA: 3.5 Years
Newest Account: 4 Months (CapOne QS and Credit One Amex)
INQ: 1-3 (Depending on the CRA)
FICO Score: 620-640

Suggestions?

Or should I work on asking for CLI's?

If the CLI's are soft pull I would say yes. But I would never use a HP on a CLI. Its not worth score ding or the effort. Remeber, CO is soft pull. I would concentrate spending and paying on that and work from there. Im not sure the policies on the other banks you mentioned. But if its a Hard Pull, I would give it a Hard Pass.

Re: Best Credit Cards to apply for (Pre-Approval Options Only) with 620-640 FICO

GoHooterGo — Sat, 19 Mar 2022 22:31:47 GMT

I was just approved for American Express Gold card!

This is my last app, I only have 4 INQ's. I wanted an Apple Card, but I was denied, Score: 666, Reason: I was recently past due, even though my last late payment was over 2 years ago...

I am in the process of joining NFCU, will they offer a pre-qualification using a soft, and then if you apply, a Hard INQ? I would like to add a NFCU card and focus on CLI's and start gardening.

Any suggestions for NFCU? My UTL right now is 68%, and by the time my application is processed at NFCU, my reports will be frozen again.

FICO Scores are 620-635 ATM.

Re: Best Credit Cards to apply for (Pre-Approval Options Only) with 620-640 FICO

GoHooterGo — Sat, 19 Mar 2022 22:52:59 GMT

@HeavyResist wrote:
@GoHooterGo wrote:
Looking to go on a mini spree in a month or two.

As of right now:

FFCU: $4,000
Captial One QS: $3,000
Credit One Amex: $2,000
MFCU: $1,000 (Secured)
FFCU: $500 (Joint)

Looking to go after higher CL's and increase my overall available credit limits and more positive accounts reporting.

AAoA: 3.5 Years
Newest Account: 4 Months (CapOne QS and Credit One Amex)
INQ: 1-3 (Depending on the CRA)
FICO Score: 620-640

Suggestions?

Or should I work on asking for CLI's?

If the CLI's are soft pull I would say yes. But I would never use a HP on a CLI. Its not worth score ding or the effort. Remeber, CO is soft pull. I would concentrate spending and paying on that and work from there. Im not sure the policies on the other banks you mentioned. But if its a Hard Pull, I would give it a Hard Pass.

FFCU - If I recall is a Softpull, and I plan on requesting a CLI in a few months (I still have a LARGE balance on the 4K card, and the $500 CL is $0) I've been with this bank for a LONG TIME, but from 2016 to 2019, I hit a pretty bad rough patch with them, and would like to ensure that I have made everything right with them before asking for a CLI (paying down my balances and closing a few of my checking accounts).

Re: Best Credit Cards to apply for (Pre-Approval Options Only) with 620-640 FICO

FinStar — Sat, 19 Mar 2022 23:00:06 GMT

As the op has provided an update on their application(s) and approval, this thread is now locked and closed to new messages.

OP - as far as NFCU, it's SP to join (if you meet their eligibility criteria). Check out the NFCU mega thread in the Applications subforum for guidance/insight on their products, policies, etc. It is a big thread, but a good read -- lots of DPs there.