topic Re: choosing a new credit card in Credit Cards

choosing a new credit card

Anonymous — Wed, 02 Jan 2013 20:42:17 GMT

Hey y'all, I'm looking for some advice on which credit card i should apply for. Here's my situation:

My EQ is 679

I have a FAKO from credit one @ 683

I have a derogatory item from two years ago, an American Express which i was past 60 days late, which I have paid off about 6 months ago.

In the last year I've gone from 591 to 679, working towards that +700!! I have a Credit One with a CL of $1,000 and a Capital One with a CL of $750. This month I just brought my credit utilization down from 58% to 8%. I'm looking for a card to basically put in the sock draw. Last month i applied for a Discover card and was denied. And capital One will not increase my CL on my current platinum card. I was thinking of maybe Chase Slate? Any suggestions?

Thanks for your input.

Re: choosing a new credit card

Shogun — Wed, 02 Jan 2013 21:52:48 GMT

Hello and welcome to the forums.

I moved your post to the Credit Card forums so the gurus in here can have a shot at it.

Shogun, myFICO moderator.

Re: choosing a new credit card

webhopper — Wed, 02 Jan 2013 22:49:51 GMT

@Shogun wrote:
Hello and welcome to the forums.

I moved your post to the Credit Card forums so the gurus in here can have a shot at it.

Shogun, myFICO moderator.

Hi there! Welcome to MyFico Forums!!

Based on your credit profile, I recommend that you take a look at any of the offerings from Barclays... and also take a look at Wal Mart Discover. You would also stand a chance at approval on Paypal Rewards Mastercard. Of these, I like Wal Mart the most for a sock drawer card... however, I do think that you should actually use the card and pay in full, as the credit limit will grow with you!

You will also gain free Transunion Fico Scores from Wal Mart Best of luck!

Re: choosing a new credit card

Anonymous — Wed, 02 Jan 2013 22:44:03 GMT

@Anonymous wrote:
Hey y'all, I'm looking for some advice on which credit card i should apply for. Here's my situation:

My EQ is 679
@I have a FAKO from credit one @ 683

I have a derogatory item from two years ago, an American Express which i was past 60 days late, which I have paid off about 6 months ago.
In the last year I've gone from 591 to 679, working towards that +700!! I have a Credit One with a CL of $1,000 and a Capital One with a CL of $750. This month I just brought my credit utilization down from 58% to 8%. I'm looking for a card to basically put in the sock draw. Last month i applied for a Discover card and was denied. And capital One will not increase my CL on my current platinum card. I was thinking of maybe Chase Slate? Any suggestions?

Thanks for your input.

Welcome aboard!

So you want to replace your CreditOne 1K and CapOne 750. With Util 8%, you can be ready to apply.

Could you please provide us your AAOA and age of oldest tradeline? Also the # of INQs please.

What were the reasons for the Discover denial? Btw, do you still have that amex?

Re: choosing a new credit card

Anonymous — Wed, 02 Jan 2013 23:29:47 GMT

Honestly,

My first step would be writing a goodwill letter to Amex. From what I've read, here, they don't tend to hold a grudge.

Re: choosing a new credit card

p- — Wed, 02 Jan 2013 23:41:44 GMT

@Anonymous wrote:
...capital One will not increase my CL on my current platinum card....

I would keep the Cap1 open, and keep rotating money through it. In a year or two, when you have scores around 700 and more history, they will PC you to a beter card and give you a high limit. I did the same thing recently, and wrote up what I learned. Click the Cap1 card in my signature if you want to see the details.