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For my wife

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Regular Contributor

For my wife

Hello, 

 

Looking to see what type of card my wife should apply for so she can finally get a solid CC her info is below

 

3 Accounts on credit report never missed a payment on any

1 Self Lender Balance 365

2. PNC Secured $500 Dollar limit

3. Bestbuy Store Visa 1k Limit

 

Experian Fico 8 699 Score

Utilization 40% - Will be dropping next reporting it should be 6 percent with what we paid 

 

0 Collections

 

The PNC secured has been open going on two years, PNC pre approved her for a card but she doesn't want to go with them since they have a crappy reputation for low limits. Is it safe to close this card? What company should we try for? When running pre-approvals she was Pre-Approved for quite a bit.

Score as of 7/9/19
Fico 8
EXP 618
Score as of 1/6/20 Fico 8 EXP 655
15 REPLIES 15
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Community Leader
Super Contributor

Re: For my wife

That's a low score for not having missed a payment on those accounts. What derogatories does she have, BK, chargeoffs, collections?







Message 2 of 16
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Regular Contributor

Re: For my wife

She has no negatives at all, Shes new to credit for the most part though and the 40 percent utilization. Her first credit line was the PNC secured which is still under 2 yrs

Score as of 7/9/19
Fico 8
EXP 618
Score as of 1/6/20 Fico 8 EXP 655
Message 3 of 16
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Valued Contributor

Re: For my wife

I would check the prequals for Chase, Amex, Discover, and Capital One. That way she has an idea of what is available. With not being over the 5/24 rule, it would be best to go for Chase first if that is a lender/bank she has thought about. 

Message 4 of 16
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Valued Contributor

Re: For my wife


@gooty1 wrote:

She has no negatives at all, Shes new to credit for the most part though and the 40 percent utilization. Her first credit line was the PNC secured which is still under 2 yrs


This makes sense, my fiance has high utilization on a card that has 0% for some stuff we purchased earlier this year which is keeping her scores under 700 at the moment. 

Message 5 of 16
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Regular Contributor

Re: For my wife

 


@Mv350 wrote:

I would check the prequals for Chase, Amex, Discover, and Capital One. That way she has an idea of what is available. With not being over the 5/24 rule, it would be best to go for Chase first if that is a lender/bank she has thought about. 


Shes pretty open, I am trying to get her to open up a myfico forums account actually as we speak as well. Amex pre approved her for a ton of cards same with discover ill have some more info in just a bit.

Score as of 7/9/19
Fico 8
EXP 618
Score as of 1/6/20 Fico 8 EXP 655
Message 6 of 16
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Community Leader
Super Contributor

Re: For my wife

Chase tends to give better starting limits than increases. Regardless of what she chooses, she should get the utilization below 30% reported, at least, before applying, for the best shot at a good result. 







Message 7 of 16
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Regular Contributor

Re: For my wife

For sure, That should report under 30 percent next statement should be around 6-8

Score as of 7/9/19
Fico 8
EXP 618
Score as of 1/6/20 Fico 8 EXP 655
Message 8 of 16
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Valued Contributor

Re: For my wife


@gooty1 wrote:

For sure, That should report under 30 percent next statement should be around 6-8


This would be ideal. Once she gets them reported lower, it would be much better for starting limits. Personally I would go Chase then Amex or Discover. Had I known about this forum and all of the valuable information here, I would have held off my app spree until I could get in with Chase first. 

Message 9 of 16
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Community Leader
Mega Contributor

Re: For my wife

Im sorry, but if PNC was willing to offer her a preapproved credit card, unsecured, i wouldnt be so biased based on " so called low limits" heard about as getting a unsecured bank card would be a huge step up for her profile. She already established 2 years history with that Bank so she may have been suprised by the sl. Even if it started low, with a secured card and BB, you cant expect 10k limits plus off the bat. Her profile is being built. A third card would/will help her profile thicken . Just an average observation from an average JoeSmiley Wink
Message 10 of 16
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