topic Re: Which card should I apply for? in Credit Cards

Which card should I apply for?

Anonymous — Mon, 09 Jan 2012 11:22:32 GMT

I have been working on rebuilding my credit and am looking for advice for which prime CCs to apply for. I have increased my scores over the past few months and just bought my first home (thanks to myfico!). Here is my credit score history:

November2011 (lender pull):

Experian 636

Transunion 618

Equifax 604

December 2011 (lender pull):

Experian 640

Transunion 650

Equifax 604

January 2012 (myfico):

Transunion 674

Equifax 625

The CCs I currently have are:

Capital One--$500 limit--I haven't asked for a CLI increase yet...they probably won't give one anyway

HSBC/Orchard Bank--$300 limit--same as above

Credit One--just recived CLI to $675, up from $575

Giant Eagle/WFNNB--$560 limit (grocery store card, I work there and all employees received one)

GEMB/Care Credit--$1k limit, 0 balance

GEMB/McKinney's--$2500 limit, $2100 balance (furniture store, bought furniture for new house...0% interest/24 months...will be paying at least 1/2 off with taxes)

Thanks in advance for the advice :-)

Re: Which card should I apply for?

Anonymous — Mon, 09 Jan 2012 14:43:05 GMT

Is the GEMB/McKinney's card the only one you have a balance on? Also, how many inquiries do you have?

Re: Which card should I apply for?

Anonymous — Mon, 09 Jan 2012 14:52:42 GMT

Go with Barclay. If they deny you, you can call recon to overturn decision and to match CL to $2500 highest on your report.

But if your TU have more than 4 inquiries within last 6 months, you should hold off an app because they might only approve you for low CL.

Re: Which card should I apply for?

Anonymous — Mon, 09 Jan 2012 16:00:01 GMT

I have very small balances on the other cards, I'm practicing the 'under 9% utilization' rule. I do have several inquiries from the past 2-3 months as I was going through the mortgage process.

I would just go to their website and apply? I see they have a rewards card...

Re: Which card should I apply for?

Anonymous — Mon, 09 Jan 2012 16:49:06 GMT

I actually got a $100 CLI with HSBC/Orchard Bank. Capital One said no...just like I thought they would!

Re: Which card should I apply for?

Creditaddict — Mon, 09 Jan 2012 17:24:00 GMT

@Anonymous wrote:
I have very small balances on the other cards, I'm practicing the 'under 9% utilization' rule. I do have several inquiries from the past 2-3 months as I was going through the mortgage process.

I would just go to their website and apply? I see they have a rewards card...

I would not carry a balance on every credit card you have even if it is under 9% you are probably getting a ding harder for having no accounts paid off over keeping things under 9%. I believe you want less than half of your cards reporting balances.

Re: Which card should I apply for?

Anonymous — Tue, 10 Jan 2012 02:01:43 GMT

I applied for Barclay's online...denied....called and asked for recon, got approved for $1k :-) Yay!!