topic Re: Need help... regarding Credit cards account in Credit Cards

Need help... regarding Credit cards account

Anonymous — Fri, 22 Mar 2013 20:57:41 GMT

My background:

I had my first Credit Card 09/2011 still 500 $

Citi bank...... was 3000 and they raised to 4000

bank of Omaha.... was 2500 and raised also week ago to 5000

I have a car lease 4 months ago for 36 months.

My average account history is 1 year

My Credit score 712, similar in the three bureau

==================================

I applied this week for three Credit Cards.

-The first one from Barclays I got approved instantly with 2000 limit then I asked them to increase the credit limit, they did another hard pull and I was approved for 5000

This card gives 2 points for each dollar spend [Travel Reward]

-t he second one is Citi ThankYou Premier Card was not approved immediately However I just checked and I am approved for 20,000 limit

- The third one is chase sapphire preferred, they requested a copy for my SS Card and proof of address, sent what they want but I didn't hear from them yet

======

My question is

I really was surprised that I am approved with such high limit with Citi, however I am afraid when they see that I opened 2 many account they would drop the limit. Also, I didn't hear from chase yet, but I feel they would approve me since they requested these extra documents. I don't need that much credit but I am building a credit history so I can buy a house and also it's good to have such limit. I need the experts advice. Since I got high limit with Citi and I am interested in travel reward, shall I call Barclays to cancel the account and call Chase to drop the application before it shows on my report?? Or shall I use the cards to got the bonus and then close. I really need advice; especially my Credit report file is thin.

We spend usually around 5000 with credit cards, and we pay everything in full

Re: Need help... regarding Credit cards account

Anonymous — Fri, 22 Mar 2013 23:24:45 GMT

@Anonymous wrote:
My background:
I had my first Credit Card 09/2011 still 500 $
Citi bank...... was 3000 and they raised to 4000
bank of Omaha.... was 2500 and raised also week ago to 5000
I have a car lease 4 months ago for 36 months.
My average account history is 1 year
My Credit score 712, similar in the three bureau
==================================
I applied this week for three Credit Cards.
-The first one from Barclays I got approved instantly with 2000 limit then I asked them to increase the credit limit, they did another hard pull and I was approved for 5000
This card gives 2 points for each dollar spend [Travel Reward]
-t he second one is Citi ThankYou Premier Card was not approved immediately However I just checked and I am approved for 20,000 limit
- The third one is chase sapphire preferred, they requested a copy for my SS Card and proof of address, sent what they want but I didn't hear from them yet
======

My question is
I really was surprised that I am approved with such high limit with Citi, however I am afraid when they see that I opened 2 many account they would drop the limit. Also, I didn't hear from chase yet, but I feel they would approve me since they requested these extra documents. I don't need that much credit but I am building a credit history so I can buy a house and also it's good to have such limit. I need the experts advice. Since I got high limit with Citi and I am interested in travel reward, shall I call Barclays to cancel the account and call Chase to drop the application before it shows on my report?? Or shall I use the cards to got the bonus and then close. I really need advice; especially my Credit report file is thin.
We spend usually around 5000 with credit cards, and we pay everything in full

IMO, Keep what you got or may get and stop applying. You are probably fine.

Re: Need help... regarding Credit cards account

E150GT — Fri, 22 Mar 2013 23:37:32 GMT

those are nice limits. Its garden time.

Re: Need help... regarding Credit cards account

Anonymous — Fri, 22 Mar 2013 23:40:33 GMT

Congrats on your approvals. Time to garden.

Re: Need help... regarding Credit cards account

SnackTrader — Fri, 22 Mar 2013 23:49:11 GMT

You already took the hard pulls, and you need the new tradelines to improve your thin file. Keep going through the process for the Chase card and use it for the bonus. No more applications, but keep everything you already have and you will be in better shape for a mortgage in the near future.

Re: Need help... Regarding Credit cards account

Anonymous — Sat, 23 Mar 2013 00:07:44 GMT

First of all Thank you all for your reply

Well I just noticed that Chase pulled my report three times, that's really insane. I was angry on the phone with them and I told them to cancel the application,

I placed a freeze on all my credit report. So, I will work on those 2 cards.

Re: Need help... Regarding Credit cards account

SnackTrader — Sat, 23 Mar 2013 00:10:42 GMT

They already did about as much damage as they could do by putting an HP on all three bureaus. I don't know why you would cancel it after all of that, what if they wanted to give you the card?

Anyway, good luck with your remaining cards and your future mortgage.

Re: Need help... Regarding Credit cards account

myjourney — Sat, 23 Mar 2013 00:12:38 GMT

Congrats nice haul

See you at the luau in the garden

Re: Need help... Regarding Credit cards account

LS2982 — Sat, 23 Mar 2013 00:17:51 GMT

Am I the only one that notice that 20k limit? Is that legit?

Re: Need help... Regarding Credit cards account

Anonymous — Sat, 23 Mar 2013 00:39:07 GMT

Stupid me, I did that before I saw all of your replies. when I checked the forum and saw your recomendations it was 2 late. I noticed they pulled EQ 2 times , one under Chase, and another pull under US First. when I called, they told me Chase bought US First. and then they told me that the application was denied but it's under reconsideration and waiting for the new documents. and all what they requested before is a copy of my SSC and a proof of address. and he told me he put a note to not reconsider the application by the customer's request.

Re: Need help... Regarding Credit cards account

SnackTrader — Sat, 23 Mar 2013 00:39:49 GMT

Citi gave me my highest limit when I applied. It wasn't $20k, but anything is possible. Perhaps OP has a high income...

Re: Need help... Regarding Credit cards account

Anonymous — Sat, 23 Mar 2013 00:41:53 GMT

Thank you myjourney

Re: Need help... Regarding Credit cards account

Anonymous — Sat, 23 Mar 2013 00:50:40 GMT

Man I can't believe it myself, when I checked through the automated number the application was approved on this day with 20k limit I couldn't believe it, then I spoke with a real person and he confirmed. When I got approved for CLI with 5k limit from FN-Omaha I was happy and then I said let me hunt for higher limit. Honestly, so far I like these 2 Creditors City is very good when it comes to the CL and also first national of Omaha, both increased my limit with soft pull.

city from 3k to 4k

first national of omaha from 2.5k to 5k

Re: Need help... regarding Credit cards account

Anonymous — Sun, 24 Mar 2013 20:03:56 GMT

I was approved for the Chase Freedom after providing a copy of my SS card and proof of address.

Re: Need help... regarding Credit cards account

webhopper — Sun, 24 Mar 2013 20:47:11 GMT

If they ask for address and ss that means you are approved.... for chase... I would not have cancelled the app after you already took the HPs

Re: Need help... regarding Credit cards account

Anonymous — Mon, 25 Mar 2013 04:17:53 GMT

+1, the Chase Freedom is a great card to have.