topic Re: May the Force be with you. in Credit Cards

Could really use some advice... Please help!

irving_magik — Tue, 04 Dec 2012 18:11:37 GMT

Hello everyone... I'll keep this as short as possible but could use some help...

So technically, I guess I'm still in the rebuilding stage but finally hit primeville 3 months ago with my BCP and Freedom. I still haven't gotten to my target goal of 740+ but getting close.

Here is my situation... If anybody has seen some of my other posts, I have limited my self to 3 (maybe 4) prime cards and NO MORE! Just to make sure I can stay on top of everything and manage them well but still keep them in good heavy rotation.

So I got my BPC and my Freedom and they get heavy use. I have not used either of my Cap1 cards and they are getting close to their AF so I will be canceling both. Here is where my big problem is:

This will be the first month I will carry a balance and won't be able to PIF. This is due to some unfortunate isses... Car repairs of over $600, Driving violation of $400, and financed a new fridge $1600 and other small appliances of $600+

Paying these won't be a problem, should be completely paid off by March maybe April and I'm in the 0% financing on both of these cards. But of course, this WILL raise my UTL to about 30-35% which will drop my score. I would like to apply for a new cards before these post so that my UTL won't be so high and take advantage of my current scores (in my siggy).

Here are the cards that I narrowed down below (from a previous thread):

US BANK Cash+ - I don't think I can get this card yet, still in the low 700s and I've heard this one is hard.... so this one may have to wait

Chase Sapphire (maybe preferred) - This one will also be very tough, I had to recon my freedom due to a prior C/O of a wamu account.

Citi Thank you preffered - This seems the most likely to approve me, what do you guys think?

Cap1 Venture card - Not sure if I want to stik with Cap1?

I hope this is not frowned upon (applying prior to larger balances posting)... But I think I should pull the triger today before the balances post to maximize my approval chances.

Do you guys think, with my info below that I'll qualify?

Re: Could really use some advice... Please help!

daybreakgonesXe — Tue, 04 Dec 2012 18:23:15 GMT

@irving_magik wrote:
Hello everyone... I'll keep this as short as possible but could use some help...

So technically, I guess I'm still in the rebuilding stage but finally hit primeville 3 months ago with my BCP and Freedom. I still haven't gotten to my target goal of 740+ but getting close.

Here is my situation... If anybody has seen some of my other posts, I have limited my self to 3 (maybe 4) prime cards and NO MORE! Just to make sure I can stay on top of everything and manage them well but still keep them in good heavy rotation.

So I got my BPC and my Freedom and they get heavy use. I have not used either of my Cap1 cards and they are getting close to their AF so I will be canceling both. Here is where my big problem is:

This will be the first month I will carry a balance and won't be able to PIF. This is due to some unfortunate isses... Car repairs of over $600, Driving violation of $400, and financed a new fridge $1600 and other small appliances of $600+

Paying these won't be a problem, should be completely paid off by March maybe April and I'm in the 0% financing on both of these cards. But of course, this WILL raise my UTL to about 30-35% which will drop my score. I would like to apply for a new cards before these post so that my UTL won't be so high and take advantage of my current scores (in my siggy).

Here are the cards that I narrowed down below (from a previous thread):

US BANK Cash+ - I don't think I can get this card yet, still in the low 700s and I've heard this one is hard.... so this one may have to wait
Chase Sapphire (maybe preferred) - This one will also be very tough, I had to recon my freedom due to a prior C/O of a wamu account.
Citi Thank you preffered - This seems the most likely to approve me, what do you guys think?
Cap1 Venture card - Not sure if I want to stik with Cap1?

I hope this is not frowned upon (applying prior to larger balances posting)... But I think I should pull the triger today before the balances post to maximize my approval chances.

Do you guys think, with my info below that I'll qualify?

In order, out of the list you're likely to be approved by:

Citi ThankYou Preferred

Capital One Venture Card (as long as you've had a credit card or loan with a limit of $5000 or more for 3 years, which is their recommended likely to approval odds, but not necessarily a requirement. looks like you haven't met that yet, unless you have closed accounts in good standing on your report that met that requirement?)

Chase Sapphire, then Chase Sapphire Preferred, even with reconning

US Bank+ (think you'll definitely be turned down for it and given the regular cash rewards instead of you apply)

Best of luck!

Re: Could really use some advice... Please help!

irving_magik — Tue, 04 Dec 2012 18:31:57 GMT

In order, out of the list you're likely to be approved by:

Citi ThankYou Preferred
Capital One Venture Card (as long as you've had a credit card or loan with a limit of $5000 or more for 3 years, which is their recommended likely to approval odds, but not necessarily a requirement. looks like you haven't met that yet, unless you have closed accounts in good standing on your report that met that requirement?)
Chase Sapphire, then Chase Sapphire Preferred, even with reconning
US Bank+ (think you'll definitely be turned down for it and given the regular cash rewards instead of you apply)

Best of luck!

Thank you for the quick reply, I do have a feeling I'm most likely to get the Citi Thank you Card... do you think my scores are good enough?

A little more info to help: AAoA is over 7+ years..... no negatives/baddies in over 4+ years ( a string of 30 day lates in 2008 ) current Utily is below 10%

Re: Could really use some advice... Please help!

daybreakgonesXe — Tue, 04 Dec 2012 18:35:43 GMT

@irving_magik wrote:

In order, out of the list you're likely to be approved by:

Citi ThankYou Preferred
Capital One Venture Card (as long as you've had a credit card or loan with a limit of $5000 or more for 3 years, which is their recommended likely to approval odds, but not necessarily a requirement. looks like you haven't met that yet, unless you have closed accounts in good standing on your report that met that requirement?)
Chase Sapphire, then Chase Sapphire Preferred, even with reconning
US Bank+ (think you'll definitely be turned down for it and given the regular cash rewards instead of you apply)

Best of luck!

     Thank you for the quick reply, I do have a feeling I'm most likely to get the Citi Thank you Card... do you think my scores are good enough?

     A little more info to help: AAoA is over 7+ years..... no negatives/baddies in over 4+ years ( a string of 30 day lates in 2008 ) current Utily is below 10%

Your scores do look good enough for Citi they're a little more lenient than the other creditors you're going for! Even if they decline you, it may just be something on your report you have to recon. Many people have had success though reconning! Since your AAoA is over 7 years, you may have a good shot at the Venture card and Sapphires as well!

Re: Could really use some advice... Please help!

djrez4 — Tue, 04 Dec 2012 18:40:07 GMT

I worry that Chase and US Bank will think you don't have enough history with a "signature" level limit to approve you. I don't have experience with Citi.

Then again, I was approved for the CSP with a lower score and a little over two months history with my own $5k limit. (I had an $8k AU account on there, but it showed no use for two years.)

If you're on the line, income may make the difference. I think it did with me.

Re: Could really use some advice... Please help!

irving_magik — Tue, 04 Dec 2012 18:52:01 GMT

Thank you for all the advice... I think my US Back Cash+ (or CSP) will have to wait till next year. I'll garden for a good while before I apply for that one.

I'm going to go ahead and pull the trigger on the Citi Thank you Preffered..... I will post back my results shortly. Thank you for the help!

May the Force be with you.

djrez4 — Tue, 04 Dec 2012 18:57:20 GMT

May the Force be with you.

Re: May the Force be with you.

irving_magik — Tue, 04 Dec 2012 19:16:18 GMT

applied and got a "we are currently processing your application and will be in touch within 1 week"......

I will call the status line and see if I can speak with a rep.... hope I don't have to recon... anybody fimiliar with CITi and how they handle apps/recons?

Re: May the Force be with you.

Brandnick — Tue, 04 Dec 2012 19:27:48 GMT

Just be honest with your answers as it could be just a simple verification question to make sure its the right person applying for the card.

I had to call for both my Amex and discover cards it was fast and simple after applying online

Re: May the Force be with you.

irving_magik — Tue, 04 Dec 2012 19:28:58 GMT

Called and spoke with a nice rep who verified some info, she said the application was still pending and there is no decision in the system yet. She told me to wait a day or two and keep checking online......

hope this isn't a bad sign......

Re: May the Force be with you.

Brandnick — Tue, 04 Dec 2012 19:31:34 GMT

I bit 30 points off my score you will be approved. Sometimes when you are on the border it takes time. If your were denied the rep would have told you already.

Re: May the Force be with you.

irving_magik — Tue, 04 Dec 2012 19:33:45 GMT

@Brandnick wrote:
I bit 30 points off my score you will be approved. Sometimes when you are on the border it takes time. If your were denied the rep would have told you already.

Cool, thank you.... I hope you are right! So if I'm denied, how do we transfer 30 fico points over to me? That would really boost my scores

Re: May the Force be with you.

Brandnick — Tue, 04 Dec 2012 19:41:04 GMT

lol just keep us posted

Re: May the Force be with you.

irving_magik — Wed, 05 Dec 2012 21:14:21 GMT

So no word yet, checked online and called and still being processed.

I did get notification from my CMS that they pulled EX.... Seem this is the most popular in AZ, since both AMEX and Chase pulled only EX too.

My EX score is close to my EQ, around 705 - 710. Hope this is till good enought to get this card... I'm starting to get anxious.

Re: May the Force be with you.

daybreakgonesXe — Wed, 05 Dec 2012 21:18:30 GMT

@irving_magik wrote:
So no word yet, checked online and called and still being processed.

I did get notification from my CMS that they pulled EX.... Seem this is the most popular in AZ, since both AMEX and Chase pulled only EX too.

My EX score is close to my EQ, around 705 - 710. Hope this is till good enought to get this card... I'm starting to get anxious.

No worries! They're probably just building your card in terms of CL and APR. It took them 5 days after I applied for my Sapphire them to finally say I was definitely approved and not in the "further review" status! Then again, I never called in to speak to a rep. I just sat on my hands and hoped for the best! Maybe Citi will be quicker than Chase!

Re: May the Force be with you.

irving_magik — Wed, 05 Dec 2012 23:59:47 GMT

No worries! They're probably just building your card in terms of CL and APR. It took them 5 days after I applied for my Sapphire them to finally say I was definitely approved and not in the "further review" status! Then again, I never called in to speak to a rep. I just sat on my hands and hoped for the best! Maybe Citi will be quicker than Chase!

I hope you're right, thank you..... I'll try my best to be patient.

Re: May the Force be with you.

irving_magik — Sat, 08 Dec 2012 16:41:39 GMT

I finally got a decision today and I got approved for it!!!!!! $6500 limit!!!!!

this is awesome cause this will help my Utl stay lower!!!!!

Does anybody know if they offer this card in a Visa Siggy? Would be awesome to get my first Siggy.

Re: May the Force be with you.

Yankeefan — Sat, 08 Dec 2012 17:19:28 GMT

I was recently approved for the same card and limit. While not a Siggy, it is a flexible spending card and reports as such, along with your CL.

Re: May the Force be with you.

irving_magik — Sat, 08 Dec 2012 17:31:16 GMT

@Yankeefan wrote:
I was recently approved for the same card and limit. While not a Siggy, it is a flexible spending card and reports as such, along with your CL.

How does that differ from a regular trade line? Sorry, new to these type of CL Prime cards.