Application Suggestions

[Anonymous]

Thank you for the response creditguy. Please read my new post at the end if you wish pertaining to the utilization and Cap 1 and a new great update! A few people talked about those issues and I have had an intense work week so did not get to repsond until now! 

I would like a travel card as that is the main one that is missing...

[Anonymous]

Thank you for the response kidfico. I posted at the end as a bunch of people brought up the utilization. I would LOVE to get that Chase card but I did not know they were initating that 5/24 rule. I did not apply for cards until after Grad School so now unfortunately I think they will deny me. And I have banked with them for over 18 years otherwise they probably would. And my EXP is the highest score... That is a great starting limit btw, congrats!!! See that is what I want, like what NFCU did for me, initial $13,200 limit. If you read the end of my post I just got B of A to do a CLI from 5k to 10k and it is a new account!

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@Anonymous wrote:

I agree with creditguy, try to lower your credit utilization before applying. I think a card thats quite easy to get and also a great overall card to have in your wallet is the Chase Freedom. I was approved for 13k on the spot at a branch. 

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[Anonymous]

Thank you for the response Sexyblue! 

I tried to clarify the utilization aspect things in post a few up the chain from this. The bottom line is it is coming down and will continue to do so but most of that debt is at 0% interest for 12 months. I am paying things off since grad school ended and pay most of my monthly credit card debt in full. I am not planning on getting into more debt and my lfiestyle and bills are lower than my income on a monthly basis. Not that I do not have fun in NYC! Haha.

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@Sexyblue wrote:

Getting approved with high utilization may lead to low starting limits. Therefore, this approach may derail your strategy from inception. Utilization management most often works in the short run, but is not an optimal solution for you in the long run. If your debt increases, are you going to get more cards to manage your utilization?  

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[Anonymous]

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@jbsea wrote:

I agree with what has been said.  You need to get your utilization down.  While your doing that combine those Cap 1 cards.  There is no need for all of those.  How old are all of your accounts?  How long ago was your 30 day late?

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Thank you for the response jbsea! Haha I did not realize how many people brought up Cap 1 and the utilization. I wrote a long explanation about both of them a few posts up the chain...

[Anonymous]

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@SouthJamaica wrote:

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@Anonymous wrote:

Good Evening Everyone!

1st just want to throw out a major thank you to everyone who posts on here. It is quite informative and helpful for everyone from credit novice's to expert's and everyone in between. 

I need some advice as I am probably one of those in the middle here. I woud like 2 new credit cards and do not want to submit more than 3 apps as I feel I can justify 2 HP'S right now. I would like to boost credit lines and thus lower my utilization so higher starting limits is of utmost importance rather than rewards etc.(I know who doesn't right?) haha... But I do already have some good rewards cards. I know there is no "sure thing" and have done my reaserch but would love some advice and/or just comments on this and any recent experience from 2016 would be amazing! THANK you everyone!

My credit profile is as follows:

AAOA 5-6 years depending on the report you pull.

Real FICO 8 SCORES Equifax 637 9 INQ (frozen, taking their time to remove incorrect info (and add some good info!!) so could be an issue for some banks) Experian 685 9 INQ, TU 688 6 INQ. (Obviosuly I would like to stay away from companies who, for the most part, do EQ Pulls for residents of New York. 

One baddie, 30 day late payment. 

35% Util / $34,000 Total credit line/ 120K a year

I aleady have: NFCU CashRewards $13,200 / Discover IT $12,500 / B OF A Cash Rewards $5,000 / Cap 1 QS $2,000 / CAP 1 QS $750 / CAP1 Platinum $300 / AMEX BCP $1,000 ....  

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I guess your best bet would be a Barclays Arrival Plus, or a Barclays NFL Extra Points card, as Barclays almost always does a single TU pull, and those cards seem a little generous on starting limit. Of course the most generous starting limit is Capital One Venture, but they usually do a triple pull.

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Thank you SouthJamaica for the response. I already have a Barclays NFL card. I am working on a CLI right now with them. I was thinking about applying for a new card but decided to try for a CLI instead. They seem to be stingy with me.... I would love to apply for a Cap 1 Venture but I think EQ being frozen is going to be a problem...

[Anonymous]

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@CreditDunce wrote:

1) Reduce util.  This will boost your score

2) Check to see if Discover and Cap1 will give SP CLI's

3) Combine Cap1 accounts (will need to have zero balance on some cards)

4) Think about a CLI request on NFCU.  It may be a EQ HP.  Skip if you have recently received a NFCU CLI

5) Think about a BoA CLI.  It will be a TU HP  Ask for 20k?  They should counter.  BoA gives good CLIs if you are willing to take the HP

See if you still want a new card once you have exhausted CLI attempts.

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Thank you so much for your response CreditDunce. I have actually exhausted all those resources. There is the possibilty of a few more CLI's to happen in the next couple of days and week. Just waiting for some payments to post before I ask.  

However I am going to still want to apply for a couple new cards in hopes of getting 2 approvals unless I get 3 of the 4 CLI'S (which would be amazing!) The method to my madness is this will be plenty of sufficient credit for the next couple years and than I will grow with each company and so will the limits etc etc. I want all these apps to be falling off at the same time in April 2018. I will be looking to buy a house and condo at that point.

Any suggestions on card apps? Thanks again  

[_NERD]

How old is that 30 day late?

[_NERD]

I have been scolded about my utilization. By countless members for almost a year. Like many before me have advised: get those revolving TL balances down. The wait to app is worth the reward you will receive for chopping down that util.

I know from my own experience it is easier said than done. Once you get to that point where you see for yourself how your scores go up and down with your balances, you should form the desire to keep your balances low.

[Anonymous]

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@_NERD wrote:
I have been scolded about my utilization. By countless members for almost a year. Like many before me have advised: get those revolving TL balances down. The wait to app is worth the reward you will receive for chopping down that util.

I know from my own experience it is easier said than done. Once you get to that point where you see for yourself how your scores go up and down with your balances, you should form the desire to keep your balances low.

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30 day late is 7 months old NERD.  I have a legimitate and extenuating life experience that caused it and nothing else fell behind which I explained in the RECON and works. And it has been over 5 years since I had any other couple lates.

[_NERD]

Have you considered or attempted a GW campaign on any of your lates? I am aware that cleaning up here & there wasn't part of your OP. I'm merely suggesting that healing old credit wounds may put your credit profile in a stronger position for the next app.