Four months and +76 points later, what's next?

[Anonymous]

First of all, I'm so grateful for everyone here.  I found the Forums after I was needlessly 30 days late on my AMEX (green) in January.  When I saw my FICO8 EX score was 598 and with over 80% util, it was a wake up call. I had over $10k in CC debt just because I wasn't paying attention.  Fast forward to May 31 (4 months later)...

FICO8 Experian = 674 w/47% util. TU FICO8 is 666 per DISC statement dated 05/13.  No idea about EQ (too cheap to buy the score and too lazy to use that free option that I would have to cancel).  DISC luv button gave a $4500 CLI (CL now $13.5K). My credit union CC won't do a CLI without a HP.  Comenity (VS card) has a luv button but I can't tell if it would be a HP and I don't want to risk it it in light of my long term goals.  Next Thursday, my total util will be just under 30% with $5K bal on DISC.  I'll still have that 30 day late haunting me.  I'd love to save some interest (DISC @ 20.4%) with a BT but I'm terrified of rejection and wasted HPs (0 inqs). 

What's the next move after the CRA's get updated at the end of this month? I'm clearly not a card collector but I have my eyes on a few.  An AMEX PC by dumping the green card for BCE has me obsessed but will AMEX cut me slack if I was 30 days late 6 months ago?  The Chase Slate could be an option but w/no rewards, I see that going into the SD quickly.  There's also the Chase FU but do I stand a chance anytime soon?  What about Citi so I can get a free EQ score?  I'll keep digging away at the util but considering this picture, when can I make my next move and what should it be?

[Anonymous]

If you have a balance that accrues interest don't search for a rewards card but for a BT card. The amount you're going to save(especially given the 20.4% you mentioned) would be much higher than any rewards.

Normally i'd suggest the Amex ED because of the no fee BT but given that your late is on Amex i'd wait the opinion of others on this one. Slate has also a no fee BT offer i believe but Chase is known to be stingy with CL and approvals in general.

Also 1-2 inquiries is not a big deal in a profile ..

[Meanmchine]

"....... An AMEX PC by dumping the green card for BCE has me obsessed but will AMEX cut me slack if I was 30 days late 6 months ago?"

You can not PC the Green card to a revolver. You would have to app for the BCE if you want it and then cancel the Green

[Anonymous]

Yes Meanmchine, that's what I mean: get rid of the annual fee charge card after acquiring the revolver. I don't think this would affect my AAoA either.

[Anonymous]

Debit,

Excellent point and I did consider the AED. It wouldn't fit into my lifestyle post BT, like the Slate. Not sure it's "appropriate" to get a card I know I wouldn't use long term. Also, the BCE appears in my offers page along with the Gold and Platinum but not the AED.

I'm here to learn so you're suggestion on what's best is something to consider. Tx.

[Anonymous]

Don't just rely on the Amex Offers page because it doesn't tell you all the cards you're pre-approved for;  it just shows the three cards they are currently pushing.

Log in to your Amex account, and go to Menu > Cards > View All Cards.   Select the EveryDay Card and press the Apply Now button.  If you see a message stating " , TheReflex, you are pre-approved" then you're likely to be instantly approved and you will get the card without a credit pull  unless something has drastically changed in your credit profile since Amex did their last soft pull of your credit.  If the message says "Applying to expand your membership with us is easy" then you're not pre-approved and you will have to submit an application with a likely Experian hard pull.

The ED is the best option for a balance transfer with $0 BT fees and %0 APR for 15 months.  You can always cancel the card after you've paid it off if you don't plan on using it long-term.  A cancelled card continues to report on your credit report for 10 years so it wouldn't negatively affect your AAoA.

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@Anonymous wrote:
Debit,

Excellent point and I did consider the AED. It wouldn't fit into my lifestyle post BT, like the Slate. Not sure it's "appropriate" to get a card I know I wouldn't use long term. Also, the BCE appears in my offers page along with the Gold and Platinum but not the AED.

I'm here to learn so you're suggestion on what's best is something to consider. Tx.

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[Anonymous]

Ty for the tip. I'm only pre-qualified for all the travel reward cards, no Blues. I'll just keep waiting for early July or early August. DISC will report the CLI and I'll have knocked almost another $900 on the Bal of $5800.