Big Spend Coming Application Advice

[lrodrig]

Hi all,

I'm totally new to these forums although I've been lurking since last May 2015 when I learned the hard way what happens to your credit score when you close unused accounts thinking it will help you get approved for a mortgage...

Anyways, we have some medical bills in the neighborhood of $12,000 that are coming due in the next month and a friend mentioned that we should consider earning some travel points on various credit cards. We have the cash to pay the bills but it seems like a waste to not earn something back. I've never used credit cards for there benefits. I've only used them because them seem necessary.

I would love to hear some advice from this awesome community. Here is a little info.

Equifax: 710 TU: 701 Experian: 694

Utilization shows 39% but should be 20% when things update.

myFICO 3B Report Inquiries: 1 Equifax, 2 Experian

AAoP? may not be good...

Household income > 250k / year

USAA MC: $13,800 June 2013

Citi Simplicity: $4,500 June 2015

Two others are 6 months or less (we needed a fridge and tires in an emergency so decided to go no interest via Brand Source as well as Synchrony)

Of course like everyone else I would love the Chase Sapphire Preferred. United is our main airline in town, although American and Southwest have a strong presence as well.

Should I even bother? I tried all of the pre-qualification tools and get no results. I have no collections showing, and I was 60 days late (because I totally suck and spaced out) on a Barclay Card back in 2013. I also have a late on from a few years ago on a second mortgage that totally screwed up our payment when it transferred. They promised they would not report it as late but did anyways and we were unsuccessful in getting removed although I didn't try very hard. Bank of America sent me a 'pre-screen' offer but I'm not sure if that means anything.

If this isn't correct forum let me know.

Thanks!

[Anonymous]

---

@lrodrig wrote:

Hi all,

I'm totally new to these forums although I've been lurking since last May 2015 when I learned the hard way what happens to your credit score when you close unused accounts thinking it will help you get approved for a mortgage...

Anyways, we have some medical bills in the neighborhood of $12,000 that are coming due in the next month and a friend mentioned that we should consider earning some travel points on various credit cards. We have the cash to pay the bills but it seems like a waste to not earn something back. I've never used credit cards for there benefits. I've only used them because them seem necessary.

I would love to hear some advice from this awesome community. Here is a little info.

Equifax: 710 TU: 701 Experian: 694

Utilization shows 39% but should be 20% when things update.

myFICO 3B Report Inquiries: 1 Equifax, 2 Experian

AAoP? may not be good...

Household income > 250k / year

USAA MC: $13,800 June 2013

Citi Simplicity: $4,500 June 2015

Two others are 6 months or less (we needed a fridge and tires in an emergency so decided to go no interest via Brand Source as well as Synchrony)

Of course like everyone else I would love the Chase Sapphire Preferred. United is our main airline in town, although American and Southwest have a strong presence as well.

Should I even bother? I tried all of the pre-qualification tools and get no results. I have no collections showing, and I was 60 days late (because I totally suck and spaced out) on a Barclay Card back in 2013. I also have a late on from a few years ago on a second mortgage that totally screwed up our payment when it transferred. They promised they would not report it as late but did anyways and we were unsuccessful in getting removed although I didn't try very hard. Bank of America sent me a 'pre-screen' offer but I'm not sure if that means anything.

If this isn't correct forum let me know.

Thanks!

---

Welcome to MyFico

Clearly the lates are problematic but not necessarily killers.  You have very few inquiries so adding a couple isn't going to hurt you.  If you're going to spend $12K there's no guarantee that you'll get approved for a limit high enough to cover that amount but it's worth a shot.  Now you have to decide whether you should go for a travel card like the CSP or a cashback card but that's something you need to figure out based on your needs and plans for the future..  Either way I would give a card or two a shot.  

[lrodrig]

Any recommendations on whether or not I should wait for the utilization number to come down first?

[Anonymous]

Absolutely wait till your utilization comes down---your limits will be better.

I would app with Chase and go for the CSP as you know you will get at least a 5K limit. Good luck!

[RonM21]

I would wait until it comes down to put you in better position.

[Spotsy]

IMHO....You might have some good results with getting a Capital One Venture or QS card. They seem to be dishing out high limits, especially on the Venture...but for cash back the QS is ideal...try for both at the same time.

+1 on utilization....will get much better results.

[lrodrig]

Well my utilization is down to around 13% but it's not yet reporting. Of course I received the 50k bonus offer mailer for the United Explorer card so now I'm itching to try. It wasn't a targeted pre screened offer I don't believe. Just a mailer. 

What is the strategy for applying for that card and CSP? Does it matter which one you try for first?

[Anonymous]

---

@lrodrig wrote:

Well my utilization is down to around 13% but it's not yet reporting. Of course I received the 50k bonus offer mailer for the United Explorer card so now I'm itching to try. It wasn't a targeted pre screened offer I don't believe. Just a mailer. 

What is the strategy for applying for that card and CSP? Does it matter which one you try for first?

---

Are you a member of United's Mileage Plan already? If so they have a 70K offer going right now

[lrodrig]

If that is their frequent flyer program then yes I am. 

How do I get that offer? I've only seen the 50k offer.

[Anonymous]

http://ficoforums.myfico.com/t5/Credit-Cards/Targeted-70K-miles-for-Chase-United-Mileage-card/m-p/46...

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