topic Re: Where I stand...suggestions? in Credit Cards

Where I stand...suggestions?

ssmith891 — Wed, 14 Nov 2012 17:37:37 GMT

My current cards are as follows:

Texans Credit Union World Points Visa Platinum: $1,000 CL (October 2009)

Chevron Gas Card: $300 CL (May 2010)

NTB Service Card: $800 CL (January 2011)

American Express ZYNC: NPSL (January 2011)

American Express Blue Cash Everyday: $6,200 CL (December 2011)

Chase Sapphire Preferred Visa Signature: $5,000 CL (October 2012)

Chase Freedom Visa: $3,000 CL (November 2012)

Discover More: $4,000 CL (November 2012)

The CSP, Freedom, and Discover More have all been applied for in the last month. I'm also wanting to PC my BCE to BCP. I wanted to know if I need to close some store cards, since on my Equifax one of the things it pointed out was department store cards (too many?), or request an increase on some of my cards. My score on Equifax after applying for the last 3 is a 705, Experian is 755. What do you guys think?

Re: Where I stand...suggestions?

distantarray — Wed, 14 Nov 2012 18:22:19 GMT

@ssmith891 wrote:
My current cards are as follows:

Texans Credit Union World Points Visa Platinum: $1,000 CL (October 2009)
Chevron Gas Card: $300 CL (May 2010)
NTB Service Card: $800 CL (January 2011)
American Express ZYNC: NPSL (January 2011)
American Express Blue Cash Everyday: $6,200 CL (December 2011)
Chase Sapphire Preferred Visa Signature: $5,000 CL (October 2012)
Chase Freedom Visa: $3,000 CL (November 2012)
Discover More: $4,000 CL (November 2012)

The CSP, Freedom, and Discover More have all been applied for in the last month. I'm also wanting to PC my BCE to BCP. I wanted to know if I need to close some store cards, since on my Equifax one of the things it pointed out was department store cards (too many?), or request an increase on some of my cards. My score on Equifax after applying for the last 3 is a 705, Experian is 755. What do you guys think?

now that your in primeville i would sock rawer the Texan Credit union, and cancel the gas card and NTB servie card unless thy give you really good benefits you on't want to get rid of.

Re: Where I stand...suggestions?

Revelate — Wed, 14 Nov 2012 18:24:45 GMT

Not sure I'd follow that suggestion; 2 store cards out of 7 seems hardly excessive. If you don't use them, then sure considering closing them; however, I strongly doubt they're actually harming your FICO score currently at least from what we know anecdotally.

I think you're fine where you're at; I don't think you can PC the BCE to BCP until Jan '13 based on your opening date (CARD act) though I'm admittedly not an expert on the legalese but going from $0 AF to an AF definitely falls under it I think. Perhaps if you can do a SP CLI (Amex) it might be worthwhile but there's nothing else really you can do and I'd certainly recommend sitting pat with the number of new accounts you have. If anything I'd request the CLI right now even before the others report.

Re: Where I stand...suggestions?

webhopper — Wed, 14 Nov 2012 18:43:23 GMT

@ssmith891 wrote:
My current cards are as follows:

Texans Credit Union World Points Visa Platinum: $1,000 CL (October 2009)
Chevron Gas Card: $300 CL (May 2010)
NTB Service Card: $800 CL (January 2011)
American Express ZYNC: NPSL (January 2011)
American Express Blue Cash Everyday: $6,200 CL (December 2011)
Chase Sapphire Preferred Visa Signature: $5,000 CL (October 2012)
Chase Freedom Visa: $3,000 CL (November 2012)
Discover More: $4,000 CL (November 2012)

The CSP, Freedom, and Discover More have all been applied for in the last month. I'm also wanting to PC my BCE to BCP. I wanted to know if I need to close some store cards, since on my Equifax one of the things it pointed out was department store cards (too many?), or request an increase on some of my cards. My score on Equifax after applying for the last 3 is a 705, Experian is 755. What do you guys think?

After reading your scenario, My only recommendation is to ask for CLIs on the Chevron Card, and the BCE, especially if you haven't ever asked for a CLI. I would also ask the CU for a CLI on your Mastercard, but only if they use a SP to do it. Sock Drawer the Mastercard, a CU card definately comes in handy every once in a while, so definately I would keep it if I were you. We use my husbands NFCU Platinum MC at Sams and Dollar General since they don't take Visa or Amex.

I agree with Rev, 2 store cards does not seem obsessive if you use them for discounts. If you plan on switching your gas spending to the BC Amex, then you can look at the sock drawer as an option.

Re: Where I stand...suggestions?

Creditaddict — Wed, 14 Nov 2012 18:57:20 GMT

@webhopper wrote:
@ssmith891 wrote:
My current cards are as follows:

Texans Credit Union World Points Visa Platinum: $1,000 CL (October 2009)
Chevron Gas Card: $300 CL (May 2010)
NTB Service Card: $800 CL (January 2011)
American Express ZYNC: NPSL (January 2011)
American Express Blue Cash Everyday: $6,200 CL (December 2011)
Chase Sapphire Preferred Visa Signature: $5,000 CL (October 2012)
Chase Freedom Visa: $3,000 CL (November 2012)
Discover More: $4,000 CL (November 2012)

The CSP, Freedom, and Discover More have all been applied for in the last month. I'm also wanting to PC my BCE to BCP. I wanted to know if I need to close some store cards, since on my Equifax one of the things it pointed out was department store cards (too many?), or request an increase on some of my cards. My score on Equifax after applying for the last 3 is a 705, Experian is 755. What do you guys think?
After reading your scenario, My only recommendation is to ask for CLIs on the Chevron Card, and the BCE, especially if you haven't ever asked for a CLI. I would also ask the CU for a CLI on your Mastercard, but only if they use a SP to do it. Sock Drawer the Mastercard, a CU card definately comes in handy every once in a while, so definately I would keep it if I were you. We use my husbands NFCU Platinum MC at Sams and Dollar General since they don't take Visa or Amex.
I agree with Rev, 2 store cards does not seem obsessive if you use them for discounts. If you plan on switching your gas spending to the BC Amex, then you can look at the sock drawer as an option.

+++++1

CLI any GE card every 4-6 months! it's ALWAYS SP, you get no, wait 30 days and do it again!

Amex every 6 months, ask for 3x current unless that takes you over $25k... again always soft, they say no do it again next month!

and tell your CU to get in the game with the standard of credit you have now or sit down on the bench and be quite

Don't listen to the stupid online things outside of a Fico report talking about "possible negatives" to many store accounts! that's not true!

Re: Where I stand...suggestions?

ssmith891 — Wed, 14 Nov 2012 19:25:36 GMT

@Creditaddict wrote:
@webhopper wrote:
@ssmith891 wrote:
My current cards are as follows:

Texans Credit Union World Points Visa Platinum: $1,000 CL (October 2009)
Chevron Gas Card: $300 CL (May 2010)
NTB Service Card: $800 CL (January 2011)
American Express ZYNC: NPSL (January 2011)
American Express Blue Cash Everyday: $6,200 CL (December 2011)
Chase Sapphire Preferred Visa Signature: $5,000 CL (October 2012)
Chase Freedom Visa: $3,000 CL (November 2012)
Discover More: $4,000 CL (November 2012)

The CSP, Freedom, and Discover More have all been applied for in the last month. I'm also wanting to PC my BCE to BCP. I wanted to know if I need to close some store cards, since on my Equifax one of the things it pointed out was department store cards (too many?), or request an increase on some of my cards. My score on Equifax after applying for the last 3 is a 705, Experian is 755. What do you guys think?
After reading your scenario, My only recommendation is to ask for CLIs on the Chevron Card, and the BCE, especially if you haven't ever asked for a CLI. I would also ask the CU for a CLI on your Mastercard, but only if they use a SP to do it. Sock Drawer the Mastercard, a CU card definately comes in handy every once in a while, so definately I would keep it if I were you. We use my husbands NFCU Platinum MC at Sams and Dollar General since they don't take Visa or Amex.
I agree with Rev, 2 store cards does not seem obsessive if you use them for discounts. If you plan on switching your gas spending to the BC Amex, then you can look at the sock drawer as an option.

+++++1
CLI any GE card every 4-6 months! it's ALWAYS SP, you get no, wait 30 days and do it again!
Amex every 6 months, ask for 3x current unless that takes you over $25k... again always soft, they say no do it again next month!
and tell your CU to get in the game with the standard of credit you have now or sit down on the bench and be quite

Don't listen to the stupid online things outside of a Fico report talking about "possible negatives" to many store accounts! that's not true!

Really I should do 3x my current limit? And both are always soft?

Re: Where I stand...suggestions?

Creditaddict — Wed, 14 Nov 2012 19:40:19 GMT

They are SP and they counter

Re: Where I stand...suggestions?

ssmith891 — Wed, 14 Nov 2012 19:51:45 GMT

So request my BCE CL to $18,600? Even though my annual income is around $30K?

Re: Where I stand...suggestions?

webhopper — Wed, 14 Nov 2012 20:01:44 GMT

@ssmith891 wrote:
So request my BCE CL to $18,600? Even though my annual income is around $30K?

They will counter-offer Dont worry about it! the 3X rule is pretty standard... You likely won't get the full 18.6k, however you will probably get a decent CLI

Re: Where I stand...suggestions?

ssmith891 — Wed, 14 Nov 2012 20:39:27 GMT

They counter offered $8,800. Still not bad I suppose

So what about my Chevron and Texans CU Visa now?

Re: Where I stand...suggestions?

webhopper — Wed, 14 Nov 2012 20:40:20 GMT

@ssmith891 wrote:
They counter offered $8,800. Still not bad I suppose

So what about my Chevron and Texans CU Visa now?

That's great! Ask for CLIs on those too!

Re: Where I stand...suggestions?

ssmith891 — Wed, 14 Nov 2012 20:56:52 GMT

$3,000 on my Texans Visa now!!!

Onto Chevron!!

Re: Where I stand...suggestions?

webhopper — Wed, 14 Nov 2012 21:03:18 GMT

@ssmith891 wrote:
$3,000 on my Texans Visa now!!!

Onto Chevron!!

Whoo hoo! nice limit to have on a CU Visa They typically have great rates and low / no BT fees

Re: Where I stand...suggestions?

Anonymous — Wed, 14 Nov 2012 21:47:37 GMT

Congrats

Re: Where I stand...suggestions?

ssmith891 — Wed, 14 Nov 2012 23:05:57 GMT

My question is though, since I don't really want to use my Chevron card because of BCE, and I never use my NTB card (I opened it to pay off my tires over time interest free) should I keep these open or SD them? Is a CLI even worth it for them?

Re: Where I stand...suggestions?

webhopper — Wed, 14 Nov 2012 23:24:54 GMT

If you ask for a CLI it should be only a SP...

If you don't really want to use them that's fine just sock drawer them.

For what its worth I only use my store cards a few times per year

Re: Where I stand...suggestions?

Creditaddict — Wed, 14 Nov 2012 23:26:37 GMT

@ssmith891 wrote:
My question is though, since I don't really want to use my Chevron card because of BCE, and I never use my NTB card (I opened it to pay off my tires over time interest free) should I keep these open or SD them? Is a CLI even worth it for them?

For Chevron I would go ahead and take the CLI just because it's going to be a SP and the higher the limit goes the higher chance of getting the visa is (I say in my mind as I type so I too believe it )

Anyway, I would call and ask the csr if you can get an increase to $2000... the computer will spit back an answer, if it gives $2k maybe you want to go to underwriting and ask for more, or maybe ask for more than if it counters $500... or else just don't.... but if you don't use for more than a year (maybe shorter) they will decrease the CL to $124.... you can get it back but really if you won't EVER use again, Id probably take the increase, then let it sit for a month or two and get that new limit reporting and then close! haha

at least then in future when you go for CLI or new cards, they won't see anything that low on your reports in long time. (again, not sure it matters completely!)

Re: Where I stand...suggestions?

webhopper — Wed, 14 Nov 2012 23:29:11 GMT

@Creditaddict wrote:
@ssmith891 wrote:
My question is though, since I don't really want to use my Chevron card because of BCE, and I never use my NTB card (I opened it to pay off my tires over time interest free) should I keep these open or SD them? Is a CLI even worth it for them?
For Chevron I would go ahead and take the CLI just because it's going to be a SP and the higher the limit goes the higher chance of getting the visa is (I say in my mind as I type so I too believe it )
Anyway, I would call and ask the csr if you can get an increase to $2000... the computer will spit back an answer, if it gives $2k maybe you want to go to underwriting and ask for more, or maybe ask for more than if it counters $500... or else just don't.... but if you don't use for more than a year (maybe shorter) they will decrease the CL to $124.... you can get it back but really if you won't EVER use again, Id probably take the increase, then let it sit for a month or two and get that new limit reporting and then close! haha
at least then in future when you go for CLI or new cards, they won't see anything that low on your reports in long time. (again, not sure it matters completely!)

For some reason I love the idea of getting a CLI and then closing the account. Lol!

Re: Where I stand...suggestions?

ssmith891 — Wed, 14 Nov 2012 23:35:53 GMT

I totally forgot about the Visa...do you think it would be possible to ask for a CLI and an upgrade for the Visa? Pushing it much? Or is it even worth it. The benefits really don't outweigh BCE.

Re: Where I stand...suggestions?

ssmith891 — Thu, 15 Nov 2012 03:14:59 GMT

I just don't want another HP after applying for 3 cards so quickly after another.