topic Re: Are There any Prime Cards for Me? in Credit Cards

Are There any Prime Cards for Me?

bigman023 — Wed, 28 Nov 2012 18:39:46 GMT

My goal for 2013 is :

1 VISA or MC with a $5k or more limit.

1 card that earns points toward hotel stays. Choice Rewards would be my preferred option, with Priority and Hilton as second options. Would be my heavy use card. CL is not an issue

1 Card that earns rewards for everyday purchases, which would be everyday card for DW. Again CL is not an issue.

1 Card that's either AE, or Chase, or Citi. Doesn't really matter which product or the CL, just want to get in the door.

I would like to stick with cards that pull EX. EQ would be an alternate choice. Im thinking there may be ways to reach multiple goals with one card. Any ideas on how to do that, would be appreciated.

Now my situation:

Income is 62K a year, DWs is 68K a year

EX will likely be my highest FICO score. NO CA's, NO BK's or judgments, about 4 accounts with 90 day lates, the lates are are about 4 yrs old, Have been gardening for a year and have several new positive accounts turning 1 yrs old on 12/1. INQ's from app spree turn 1 yr old in Dec, leaving me with 0 INQs. Utilization is expected to be at 20%-29% at the time I plan to do my aping. Chase mortgage turning 1yr old in Dec..... Highest CL is $4000 with GE HH Gregg. Oldest open CC's are 2yrs (no lates) and 5yrs old.

EQ - FICO is at 630 with 54% utilization reporting. Basically has same account info as EX with the exception of; 2 Dismissed BK13's. Both over 7yrs old. Highest CL is $10K on an AU Chase account. Will have one 7 Month old INQ at time of aping. Utilization will be 15%-25% at time of aping.

My EX FICO was 680 before my app spree last December. So Im banking on my score being at least 680 when I do my aping in Feb/Mar. No accounts listed as IIB. AAOA is about 4yrs on both reports. Credit has been clean for about 4 yrs. Any thoughts on what, if any, CCs I should go for would be appreciated.

thanks

Re: Are There any Prime Cards for Me?

jamesdwi — Wed, 28 Nov 2012 20:11:15 GMT

While you are on the right track, can't give you high chances of getting prime cards, it will be a crap shoot, if you get a prime card now or not. While income is good, and having cards that are 2 years old and 1 year AP free. Some prime creditors would probably over look the 90 day lates, it would be good to work on good willing them to get them off your record. The bankruptcy is the elephant in the room that will keep you from getting instant approvals, when it drops off you will easily get the cards you want. Untill then you may want to try and AP for one card from each of the prime lenders and see how receptive they are. If they ask for household income besure to include yours and the wife's combined income it may be the thing that pushes them over the edge. I woldn't bother going for anything but the lower tier cards.

Re: Are There any Prime Cards for Me?

bigman023 — Wed, 28 Nov 2012 21:16:27 GMT

The BK's aged off EX & TU, but EQ has a 10yr rule for dismissed BK13's. So Im thinking the lower tier advice would only apply to cards that pull EQ or do you think the old 90 day lates will still play a factor with EX. BTW, which cards do you consider lower tier?

Re: Are There any Prime Cards for Me?

jamesdwi — Thu, 29 Nov 2012 00:05:10 GMT

lower teier cards are

AMEX Green

Chase Freedom

Citi thankyou

oh and stay away from anything prime from CapOne they pull all 3 reports for every APP.

higher teir cards

AMEX revolvers

Chase Saphire prefered

Citi Thankyou premiere

JP Morgan *