I'm going to a prolonged trip abroad soon. (in April / May for at least 6 to 12 months) No family who'd get my mail while I am away and I do not want to bother friends; I used their kindness well too much over my last drawn-out trip. Given the business plans, cash invested in a nice dividend paying shares I would not like to sell and some investments in high risk assets currently sitting at a modest loss (again not something I'd like to liquidate) and cash at hand, I'd love to put $10K of the expenses (25% - 30% of the total trip's cost) on the card, before the business income starts trickling in. But currently I do not have enough credit ($12,200.00 total)
Alas, I do not want to appear hungry for the credit, given it's pretty new, and get rejected. I plan to apply in April given that:
-- I've gotten an $16 K personal loan in November 2017
-- I've gotten a new card, $5K credit limit, in December 2017
My scores:
-- 750 Experian FICO 8
-- AAOA 1 year 4 months
-- oldest account 2 years 8 months
-- 4 credit cards, 1 personal loan is all I have on the CR
-- 100% payment history
-- 2 hard inquires (November 2017, plus one "Misc." the apartment rental company pulled)
-- no deragatories
-- I have two new business credit cards but would not like to mingle private exepenses with the business credit.
I have a feeling that in my case, the credit being "too short" might be an obstacle? What say you, the veteras of the credit game? I went to some of the pre-qualy sites, and there's a (new) Citi Rewards+ Card I am prequalified for (APR 0% is important and I love how it looks) and some others, I can't recall ATM, PNC I think, Chase Sapphire.
But I do not think those pre-qualy amount to much? Basically, April is my last chance, hit or miss. Any advices, suggestions or ideas would be more than welcomed. Thank you!
Appreciate that. Allow me to add that I would -- unless all my investments turn dramatically sour at the same time -- have enough $ to cover the debt by liquidating the investments, if needed. I'd simply hate to sell either income producing assets or at loss ATM, while I wait / work on it / to see how the business would develop.
@Remedios wrote:So, your main concern is 0% intro apr and decent SL?
Yes.
What are the limits on your other cards and which other cards do you have? Knowing that will eliminate redundant suggestions
$3,000.00 Capital One Quick Silver
$4,200.00 WF Platinum
$5,000.00 Capital One Venture
AMEX Platinum, pay-over-time $30K enabled, never used.
** Also, the WF gave me a $7,500.00 business card (I bank with them since 2006) and AMEX a $2,000.00 Blue business but I would not use them to comingle funds. Those are fairly recent cards (two weeks) and maybe reflect how they saw my credit worthiness. (the business is a brand new LLC that yet has to generate any income; not before June / July 2019)
I saw a Discover pre-approval link you (Remedios) provided someone else with and went to see just to get a better picture. "Unfortunately, at this time we are not able to provide you an offer due to the following:"
Type of credit score FICO
Your credit score 761
Date March 18, 2019
Key factors that affected your credit score were as follows:
LENGTH OF TIME ACCOUNTS HAVE BEEN ESTABLISHED
PROPORTION OF LOAN BALANCES TO LOAN AMOUNTS IS TOO HIGH
TOO MANY INQUIRIES LAST 12 MONTHS
(as a reminder, I have 2 inquires, 0% CLU, 89% loan balance on that personal loan)
Another Capital One Venture? Often has a higher CL and has no foreign transaction fees.
@kah-pas wrote:
@Remedios wrote:So, your main concern is 0% intro apr and decent SL?
Yes.
What are the limits on your other cards and which other cards do you have? Knowing that will eliminate redundant suggestions
$3,000.00 Capital One Quick Silver
$4,200.00 WF Platinum
$5,000.00 Capital One Venture
AMEX Platinum, pay-over-time $30K enabled, never used.
** Also, the WF gave me a $7,500.00 business card (I bank with them since 2006) and AMEX a $2,000.00 Blue business but I would not use them to comingle funds. Those are fairly recent cards (two weeks) and maybe reflect how they saw my credit worthiness. (the business is a brand new LLC that yet has to generate any income; not before June / July 2019)
I saw a Discover pre-approval link you (Remedios) provided someone else with and went to see just to get a better picture. "Unfortunately, at this time we are not able to provide you an offer due to the following:"
Type of credit score FICO
Your credit score 761
Date March 18, 2019
Key factors that affected your credit score were as follows:
LENGTH OF TIME ACCOUNTS HAVE BEEN ESTABLISHED
PROPORTION OF LOAN BALANCES TO LOAN AMOUNTS IS TOO HIGH
TOO MANY INQUIRIES LAST 12 MONTHS
(as a reminder, I have 2 inquires, 0% CLU, 89% loan balance on that personal loan)
Based on this - depending on the rewards you're looking for, the Paypal 2% CB might be a good option to look into. If not that, then try pre-qual link to BoA. The Travel rewards card may be a good option. Also, if you havn't looked, check out the Uber Visa card, even though you may get approved possibly with a low SL, it's in the ballpark of no AF and no FTF.
