topic Re: Considering an App Spree in Credit Cards

Considering an App Spree

Anonymous — Thu, 06 Sep 2012 07:27:57 GMT

I am set to close on my first house in 6 days and Im wanting to do some home improvements and buy new furniture. I have been thinking about applying for a Lowes or Home Depot card to get the updated appliances I want, and Id rather do an app spree and get some new cards or credit limits instead of spreading the apps out. Heres my current info:

Transunion: 689 Equifax: 661

No late payments in 3 years 7 months

A few charge offs from 4 years ago

Roughly 4 inquiries on both accounts in last 6 months (most are from mortgage apps)

OPEN ACCOUNTS:

NFCU Rewards Card 8500limit

Kays 2600 limit

Fiirst Premier 300 limit

A Personal Loan from NFCU

Overall Util: 3%

Income: $46000

Im thinking of applying for a CLI on my NFCU card and a new cashrewards card, and the Home Depot card. Would anyone else recomend another card based on my scores/info? Im looking for something that will start with a high limit and continue to grow with me. Ive heard Chase will CLD you if they see anything they dont like, which makes me hesitant to go with them, but IDK. Any advice or opinions on what Home Depot may give me, or NFCU, or other cards I should try for would be greatly appreciated!

Re: Considering an App Spree

Anonymous — Thu, 06 Sep 2012 21:12:59 GMT

Bump... anyone

Re: Considering an App Spree

bichonmom — Fri, 07 Sep 2012 06:42:33 GMT

@Anonymous wrote:
I am set to close on my first house in 6 days and Im wanting to do some home improvements and buy new furniture. I have been thinking about applying for a Lowes or Home Depot card to get the updated appliances I want, and Id rather do an app spree and get some new cards or credit limits instead of spreading the apps out. Heres my current info:

Transunion: 689 Equifax: 661
No late payments in 3 years 7 months
A few charge offs from 4 years ago
Roughly 4 inquiries on both accounts in last 6 months (most are from mortgage apps)

OPEN ACCOUNTS:
NFCU Rewards Card 8500limit
Kays 2600 limit
Fiirst Premier 300 limit
A Personal Loan from NFCU

Overall Util: 3%

Income: $46000

Im thinking of applying for a CLI on my NFCU card and a new cashrewards card, and the Home Depot card. Would anyone else recomend another card based on my scores/info? Im looking for something that will start with a high limit and continue to grow with me. Ive heard Chase will CLD you if they see anything they dont like, which makes me hesitant to go with them, but IDK. Any advice or opinions on what Home Depot may give me, or NFCU, or other cards I should try for would be greatly appreciated!

If you know you're going to be financing a purchase (instead of PIF), I'd look for a 0% intro offer. I did lots of research online before deciding on Citi Dividend Platinum. You could CLI your Navy, which will help your util. But any purchases you don't PIF w/have interest. IMO, you're far better off shopping around for a 0% card that meets your overall credit goals and needs (e.g. rewards structure, bank you like, etc.)

Also, keep in mind that the more cards you get, the lower your AAoA and FICO w/drop. So, if you can accomplish what you want with just one new CC, you'll be better off.

Re: Considering an App Spree

Anonymous — Fri, 07 Sep 2012 06:47:49 GMT

It depends on whether your going to PIF the appliances or revolve the balances over time. As mentioned Id look for some zero percent intros. Whats your APR on your navy card now?

Re: Considering an App Spree

Anonymous — Fri, 07 Sep 2012 07:17:47 GMT

LUV button from navyfed

Re: Considering an App Spree

Anonymous — Fri, 07 Sep 2012 12:28:32 GMT

+1 to those above. What are you going to used the cards for? What do your balances look like currently? Do you normally PIF?

Re: Considering an App Spree

Anonymous — Sat, 08 Sep 2012 02:11:48 GMT

I would berevolving the balances for probably 6-12 months. Currently I have less than $400 in balances on all cards, like I said about 3% util.

Re: Considering an App Spree

bichonmom — Sat, 08 Sep 2012 02:35:55 GMT

@Anonymous wrote:
I would berevolving the balances for probably 6-12 months. Currently I have less than $400 in balances on all cards, like I said about 3% util.

well, you don't want to pay interest if you can avoid it. So, I'd look for a 0% offer on a cc that has features you like.

Re: Considering an App Spree

Shogun — Sat, 08 Sep 2012 10:19:53 GMT

@bichonmom wrote:
@Anonymous wrote:
I would berevolving the balances for probably 6-12 months. Currently I have less than $400 in balances on all cards, like I said about 3% util.
well, you don't want to pay interest if you can avoid it. So, I'd look for a 0% offer on a cc that has features you like.