Apps/CLI's on distant horizon, but inquiring minds want to know: What are YOU considering?

[Anonymous]

Hello,

I want to share the apps and CLI's I'm thinking of working towards in the next 6 months to a year. I'd like to see what people think and discuss what cards YOU'RE planning to app for, even CLI's you might be working on, compared to my ideas and also maybe compare credit profiles. And I'd love to see what people have to say in general. Here's where I'm starting at: 

Current Score: TU (Credit Karma): 670; EQ (Credit Karma): 670; EX (Experian): 660

Baddies: 2 or 3. Also, a BK approaching a decade ago, soon to fall off. 

AAoA: Between 8 and 9 years. 

INQ's: 6 to 8 on each profile; will be a year or so until they start to fall away. 

UTI: 5%. 

Positive payment history on my cards; no lates. My installment loans (student loans) are in good standing -- some old negative history from way back is going to fall off over the next year.

My stable of cards: NFCU nRewards for 2000 (just converted to GoRewards, which is on the way); Discover IT for 1500 (recently unsecured and CLI increased from 200); First Progress secured for 200. Just applied for and was approved for Amex Cash Magnet for 1000, Ollo Mastercard for 1000 and Target REDCard (though, on this card, I don't know how much for yet).

My immediate goal is closing my First Progress and then MAYBE opening a Overstock or Wayfair account -- then cooling it. I'll then focus on CLI's for my Amex and Discover, when the time is appropriate for each (I think it's 61 and 91 days respectively). I may also focus on CLI's for my NFCU and Target REDCard, but I have to look into the proper way of doing that with those cards.

So, that's where I'll be for the next 6 months to a year, roughly. But here's what I really want to pick your brains about!

After that time passes and (hopefully) my scores are firmly above 690 on all three reports, I MIGHT try for some other cards -- maybe to add to what I have, or rotate out/replace other cards. Not sure yet; I have a rough idea of how certain cards might fit into my portfolio. I'm not planning on adding all these cards, of course; I'd apply here or there in each category, trying to maybe add two or three total. But at this point, I'm just thinking ahead.

Therefore, I'd love your input! Here's a prospective list of cards: 

Rewards Cards (I focus on points or cashback, rather than miles -- but you may do something else, feel free to share):

Visa Rewards Cards: U.S. Bank Cash + Visa, PNC Bank Points Visa, Uber Visa, Amazon Rewards Visa Signature

Mastercard Rewards Cards: Marvel Mastercard, Capital One SavorOne, Huntington Bank Voice, HSBC Rewards, 5/3 Trio

Amex Rewards: Wells Fargo Propel, U.S. Bank Cash 365

Big Bank Cards (for low-rates and simple fee-structures or no fees, maybe for financing a large purchase occasionally): Citi Simplicity, Barclay Ring, BofA BankAmericard. (BTW, if there are any credit union standing-out right now, in comparison to the big banks, give them a shout here -- I'd love to read about them!)

Store Cards: Walmart, Home Depot, and/or Kohl's (because I shop at these places).

What do folks think? Anything I'm missing? What would you add? What would you get rid of? Anything not worth the bother or risk of decline? I think of these as my intermediate cards -- though I do plan on keeping them, even as my credit improves. But since I won't be making any additions or changes for quite some time after -- certainly not until my scores reach above 740 on all reports -- calling them my intermediate cards seems to fit. 

So, what are you considering? Do you have any "intermediate cards" in your future? Looking forward to what people have to say. Thanks for the feedback -- and looking forward to the conversation!

[xaximus]

Hello!

For your current strategy - definitely a good idea on gardening and building up what you have. Build up the accounts you have as they will be your "anchors" and give you the AAoA.

Future plan - It's a good list overall but few things to point out. Some of those cards may require you to app for them over time, WF, Uber Visa and Amazon Rewards Visa have been known to finicky at times. I would definitely stagger your apping if you want those cards. Some of the cards listed - the rewards are the same/similar to others, I would definitely look at that to see if it's worth it.

What I would keep in mind is - unless you have specific uses for each card, I wouldn't get it just to have it. Some cards that you have listed are good for only certain things (SavorOne comes to mind, the Uber Visa is better IMO). Here's what I would add though -

Discover IT - You can app for this again after 1 year of your first card. The CL will definitely be higher and you can combine both, also with the new card, you'll get CB Match.

Paypal 2% - Seems like it is easier then Citi DC at times, can grow quickly, good all-around 2% CB card.

[Anonymous]

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@xaximus wrote:
Hello!

For your current strategy - definitely a good idea on gardening and building up what you have. Build up the accounts you have as they will be your "anchors" and give you the AAoA.

OP -- That's my plan for the foreseeable future. I tried to add a couple more store cards I like, but we'll see how those go -- I had odd outcomes with the apps and I have to figure out what to do with them now. 

Future plan - It's a good list overall but few things to point out. Some of those cards may require you to app for them over time, WF, Uber Visa and Amazon Rewards Visa have been known to finicky at times. I would definitely stagger your apping if you want those cards. Some of the cards listed - the rewards are the same/similar to others, I would definitely look at that to see if it's worth it.

OP -- Yeah, the WF, Uber and Amazon Rewards are the ones I'm going to "swing for the fences" for in the next round, so to speak. I might even add U.S. Bank to that list of toughies. I have to figure out the strategy for when the time comes -- but staggering is probably the way to go. I don't plan on applying for all those cards, btw -- I just want to go for the best I can, that I think I have a solid chance of qualifying for, in each category (CC network and one big bank card). And I'll decide what to app for then next, depending on approvals or declines. 

My plan is to only add rewards cards that improve over my existing rewards cards, trying to find something to supplant the ones I use regularly in each CC network (Visa, MC, Amex). I'll switch over to the better rewards card, but keep the old card it replaces (unless it really serves no purposes and/or doesn't grow, but I'll deal with that when and if it happens). 

What I would keep in mind is - unless you have specific uses for each card, I wouldn't get it just to have it. Some cards that you have listed are good for only certain things (SavorOne comes to mind, the Uber Visa is better IMO). Here's what I would add though -

Discover IT - You can app for this again after 1 year of your first card. The CL will definitely be higher and you can combine both, also with the new card, you'll get CB Match.

Paypal 2% - Seems like it is easier then Citi DC at times, can grow quickly, good all-around 2% CB card.

OP - I like when cards are good for certain categories/uses, because that's how I divide up my spending. So, that's probably what you notice in my list. For instance, SavorOne seems like a good everyday card -- eating/gas. The Uber Card is a pretty good deal it seems; I agree with you that it's better than SavorOne. If I can't get Uber Visa, that's probably when I'd consider the SavorOne. But I def want a good rewards card for everyday spending. 

Interesting about the Discover card. I hadn't thought about just apping for a new one to add to the portfolio. I applied for my secured card back in January; it was unsecured last month. So, would I apply in January then for a new card? Maybe the standard IT, as opposed to the Gas & Restaurants IT? And would I bother with my CLI's on the Gas and Restaurants IT I have now in the meantime?

Yeah, I saw the PayPay CB card, but I really do prefer rewards. I think the PayPal cards are a little out of my credit range for awhile, though; I've heard they are tough to get approved for. But they are on my list for the future. But I added the PP CB card to that list in the future, to consider. 

[Shooting-For-800]

I would look at Discover and Cap One QS Or Savor prequals.

I would not apply for Propel or Uber until you are firmly over 700.

GL!

[Anonymous]

So, you'd look at Discover pre-qual's for a second card, too? Interesting. A second Discover card really hadn't occurred to me. 

I'll probably look at Pre-qual's for Savor One, but not for QS or Savor -- the reason being annual fees I'm not big on annual fees; I'd rather take the lower cashback/rewards rates. Is there a thinking behind taking the annual fee on those cards? Are they really worth it?

I'm glad you chimed in on the Propel or Uber. So you'd push those off into the "later on down the road, higher credit score" pile? Some sites and folks were saying they were worth trying for at 690. 

[Shooting-For-800]

Savor has $500 sub which negates $95 in costs total for first 2 years.

SavorOne has 0% offer.

[CreditInspired]

Let your immediate goal be to get all 3 of your FICO scores. You can get them free annually from www.annualcreditreport.com. This way, you can also scan the reports to ensure the accuracy of everything in your credit profile.

Then go forward from there.

[xaximus]

OP - I would app for the Discover card once you hit a year with the prior one. I would keep requesting CLI's though. I would recommend the standard IT but YMMV.

Propel/Uber - I agree with Shooting-For-800. I wouldn't app for them till you're in the high-high 600's, if not, 700's minimum. Those cards have relatively high requirements. I would definitely check your scores (Free $1 trial - CCT), to get an idea of where you are. Also, review your CRs - any baddies, I would work on those before apping for anything.

[Anonymous]

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@CreditInspired wrote:
Let your immediate goal be to get all 3 of your FICO scores. You can get them free annually from www.annualcreditreport.com. This way, you can also scan the reports to ensure the accuracy of everything in your credit profile.

Then go forward from there.

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I already have all three FICO scores. I just used the Credit Karma scores because they were convenient. 

FICO are:

EQ: 710 

TU: 710 

EX: 660 

The rest of the original information is correct, though; I've gone over my reports. So, based on the FICOS, any suggestions on "intermediate cards"? Any you or others are trying for in your own plans, or like? I just like to plan ahead, thinking of products that might work for me, sharing and collaborating -- though, I'll definitely continue focusing on my reports, as I have been (thanks for that advice!)

[Anonymous]

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@xaximus wrote:
OP - I would app for the Discover card once you hit a year with the prior one. I would keep requesting CLI's though. I would recommend the standard IT but YMMV.

Propel/Uber - I agree with Shooting-For-800. I wouldn't app for them till you're in the high-high 600's, if not, 700's minimum. Those cards have relatively high requirements. I would definitely check your scores (Free $1 trial - CCT), to get an idea of where you are. Also, review your CRs - any baddies, I would work on those before apping for anything.

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Thanks for the feedback on the Discover IT standard card. I'll definitely consider the card. I already have a great rewards card in the GoRewards from NFCU -- it matches my spending, which is restaurants and gas, mostly. And I don't think I'm a fan of rotating categories, like the Discover IT has; it makes me feel like I'm altering MY spending to match the card company. I did the calculation and, essentially, the two periods that I'd see a bump (Jan-Mar [Gas]) and (Jul-Sep [Dining]) would be offset by those periods I didn't -- making it a 2% cashback average for a year. About the same I get with my It Chrome, without having to maximize for the categories. Is my assessment fair? Maybe I'm not seeing a benefit to the It standard that others might see or get. 

Instead, I might consider the Discover It Miles card. I travel rarely. But I don't have a travel card at all, but I could see rewarding myself for responsible use with a small trip using miles -- that might actually be nice. I could also using it the rewards for a statement credit on ride-sharing/taxis and other travel/transport related things, I think. Capital One's Venture One has a better point set up that also allows for statement credit -- but I like Discover a lot, so I could see ignoring Capital One for Discover.  

On your other point -- yeah, I moved Propel, Uber and Amazon into my "further off in a not-too-distant time" strategy plan, which is the land of 740 + credit. I definitely plan to focus on my CR's in the meantime. I did get my FICO's, though -- posted them elsewhere on this thread. Thanks for the suggestion on a score service.