topic Re: Credit Card Suggestions? in Credit Cards

Credit Card Suggestions?

js0319 — Thu, 19 Sep 2013 03:43:22 GMT

I have been away from MyFICO for a few months as I was working on trying to sell my house and getting approved for another mortgage. The good news is that I sold my house, and I was approved for a new FHA loan of $267k through a local mortgage banking company.

Now that we're in our new house, I still want to try and improve my credit scores and work on getting better credit products. As of right now, my wife and I still have our joint CC through a credit union, I have two Capital One cards (one is former HSBC and other is secured Cap1), and my wife was recently approved for the Best Buy store card issued by Citi for $1,500. Her scores are similar to mine, except the unpaid collections she has remaining aren't large sums of money (all less than $500 each).

I have had my credit union card with a $2,500 CL for about a year, and have since run about $56k through it and racked up 1 point per dollar spent. For the first six months, the CL was only $1,000 - so imagine the pain of running that much money through a card with such a low limit - even at $2,500. I will be asking for a CLI at the end of this month as it marks 6 months from my last CLI.

I'm wondering if, with my score, there are any other cards I may be approved for. I only want cards that I will use and will grow with me. I don't plan on carrying any balances, and I'd like some type of reward structure. I do have an unpaid Midland account for $6,500 or so from about 6 years ago, and I believe two unpaid medical collections from 5 years ago.

I'd like to work my way up to an AMEX charge card and revolver, but am not too sure how they would feel about my scores and/or baddies at this point. I have made the biggest purchase of my life and was able to do so with the baddies listed above, so I have no intention of ever paying Midland as they are so difficult to work with (and I have tried). Please let me know if anyone can suggest any cards that might work now or in the next 6-12 months.

Re: Credit Card Suggestions?

09Lexie — Thu, 19 Sep 2013 04:06:19 GMT

The unpaid medical CA might be an issue for Chase, Citi etc. what date does it fall off your cr?

Re: Credit Card Suggestions?

Anonymous — Thu, 19 Sep 2013 04:07:12 GMT

@js0319 wrote:
I have been away from MyFICO for a few months as I was working on trying to sell my house and getting approved for another mortgage. The good news is that I sold my house, and I was approved for a new FHA loan of $267k through a local mortgage banking company.

Now that we're in our new house, I still want to try and improve my credit scores and work on getting better credit products. As of right now, my wife and I still have our joint CC through a credit union, I have two Capital One cards (one is former HSBC and other is secured Cap1), and my wife was recently approved for the Best Buy store card issued by Citi for $1,500. Her scores are similar to mine, except the unpaid collections she has remaining aren't large sums of money (all less than $500 each).

I have had my credit union card with a $2,500 CL for about a year, and have since run about $56k through it and racked up 1 point per dollar spent. For the first six months, the CL was only $1,000 - so imagine the pain of running that much money through a card with such a low limit - even at $2,500. I will be asking for a CLI at the end of this month as it marks 6 months from my last CLI.

I'm wondering if, with my score, there are any other cards I may be approved for. I only want cards that I will use and will grow with me. I don't plan on carrying any balances, and I'd like some type of reward structure. I do have an unpaid Midland account for $6,500 or so from about 6 years ago, and I believe two unpaid medical collections from 5 years ago.

I'd like to work my way up to an AMEX charge card and revolver, but am not too sure how they would feel about my scores and/or baddies at this point. I have made the biggest purchase of my life and was able to do so with the baddies listed above, so I have no intention of ever paying Midland as they are so difficult to work with (and I have tried). Please let me know if anyone can suggest any cards that might work now or in the next 6-12 months.

I think you could get an AMEX charge card now.

Re: Credit Card Suggestions?

js0319 — Thu, 19 Sep 2013 04:43:57 GMT

The CA's fall off in the next 18-24 months.

Re: Credit Card Suggestions?

09Lexie — Thu, 19 Sep 2013 05:08:58 GMT

Check the prequalify sites for Barclays and Discover. You might have a chance now with them

Re: Credit Card Suggestions?

TheConductor — Thu, 19 Sep 2013 18:49:40 GMT

Agreed on Amex charge card now, and checking pre-quals for Barclays and Discover. I think you have a decent shot with all three.

Make sure to go for the Amex charge card you actually want. People tend to assume they have different approval standards, but in fact the underwriting is either identical or so close to identical it doesn't matter. If you can get a Green, you can get a PRG or a Platinum if that's what you really want.

Re: Credit Card Suggestions?

SuperKirby — Thu, 19 Sep 2013 23:35:45 GMT

+1 on Charge card as well!

Re: Credit Card Suggestions?

youngandcreditwrthy — Fri, 20 Sep 2013 02:26:57 GMT

+1 more on an Amex charge esp since you wanna pif! I think they'd go for ir.

Re: Credit Card Suggestions?

js0319 — Fri, 20 Sep 2013 02:46:10 GMT

Append just now for PRG, they said they couldn't make a decision at this time. The rep said it wasn't a denial or an approval. What does this mean? Is there a number I need to call?

Re: Credit Card Suggestions?

js0319 — Fri, 20 Sep 2013 02:46:49 GMT

*Apped

Re: Credit Card Suggestions?

js0319 — Fri, 20 Sep 2013 02:49:00 GMT

Also, pre-qual sites aren't working for me as I just opted-in about two weeks ago. I opted out before I began the mortgage process. Anyone have any idea how long it takes before the opt-in goes through and you can use those sites again?

Re: Credit Card Suggestions?

ezdoesit — Fri, 20 Sep 2013 02:55:06 GMT

@TheConductor wrote:
Agreed on Amex charge card now, and checking pre-quals for Barclays and Discover. I think you have a decent shot with all three.

Make sure to go for the Amex charge card you actually want. People tend to assume they have different approval standards, but in fact the underwriting is either identical or so close to identical it doesn't matter. If you can get a Green, you can get a PRG or a Platinum if that's what you really want.

Does everyone think that he has a good chance for the charge even with a 656? Also with unpaid medical? I have heard people on the forum say that it is easier to get approved for a charge I don't understand why. Good Luck with your app.