I need a little help boys and girls.
Just paid down the last of DW's maxed out CC accounts. She has a 30 month old mortgage, two dozen ish CC accounts, no lates, no baddies, ever. Util is a bit high... 65% or so. FICO's between 650 and 670.
Can't get any preapprovals to show up... Cap One, Citi, Chase... nothing. She already has a Slate, Simplicity, and It.
We're looking for BT cards... 0% forever would be preferred. 
As of tomorrow, she'll be 2/24 for those concerned about Chase's 5/24 rule.
I'm thinking Chase FU, Citi DF, Cap One QS and Venture combo, and perhaps a local CU card. (Local CU won't give a great BT offer, but WILL give her a low interest rate)
Your thoughts?
@tcbofade wrote:I need a little help boys and girls.
Just paid down the last of DW's maxed out CC accounts. She has a 30 month old mortgage, two dozen ish CC accounts, no lates, no baddies, ever. Util is a bit high... 65% or so. FICO's between 650 and 670.
Can't get any preapprovals to show up... Cap One, Citi, Chase... nothing. She already has a Slate, Simplicity, and It.
We're looking for BT cards... 0% forever would be preferred.
As of tomorrow, she'll be 2/24 for those concerned about Chase's 5/24 rule.
I'm thinking Chase FU, Citi DF, Cap One QS and Venture combo, and perhaps a local CU card. (Local CU won't give a great BT offer, but WILL give her a low interest rate)
Your thoughts?
Personally, I don't think a spree is a wonderful idea in this situation. Yes, it's great that the cards are no longer maxed out, but 65% is still high and that's probably part of the reason you will not get prequals.
I think you need to just plug along and pay down the debt as you best you can. I don't think any of the cards you mentioned would provide approval, but even if they did, you probably wouldn't get a large enough limit to do a BT anyway. I'm not trying to be negative, just realistic. That high util is not a good thing for current creditors to see, and then adding a bunch of new accounts - recipe for problems, IMO (again if the new accounts were even approved which unfortunately is not likely at this moment).
She has Slate and Simplicity, both of which are basically 0% or BT cards. I'm not trying to pry, but has there been progress on the debt since opening those cards? You don't want to just be shuffling debt around from new card to new card. Assuming the 0% on Simplicity and/or Slate hasn't expired, why not just utilize one of those for a BT?
A "spree" so to speak may not be in the best interest, just because of the risks and possible set backs in score. It appears where it currently stands, DW is getting close to breaking through to even better scores, meaning a better overall situation. That's good!
