January TinySpree -- Advice Needed!

[Anonymous]

I'd like to close and replace the Cap1 secured card and pick up one more so I have three reporting, the question is what.  I'd like to position myself to have a better chance at a CSR later in the year but don't currently have anywhere near a 10K CL.

Cap1 Secured Master 10/2015 $1300

Chase Freedom 06/16 SL $1500 AutoCLI -> $3500 12/2016

Oldest 1yr 2mo

AAoA 10mo

EX 731 (1) | TU 741 (2) | EQ 747 (1)

No baddies

Capital One has been good to me and I wouldn't mind a QS, but I only have prequals for the Platinum MC and QS1.  Then, there's that heinous triple pull.  NFCU is a possibility, but I also read somewhere that banks don't pay much attention to CU card limits when setting SLs.  I have Amex prequals for BCE @ 17.49% and BCP @ 13.49%. 

Not sure what to do here, or whether to wait another couple of months until AAoA hits the year mark.

[steelers1]

The pre-quals really don't mean that much.

Every QS and Venture I have ever been approved for were all cold apps.

Since you already have a history with Cap One I don't see an issue given your scores.

Cap One has been very good to me also and I'll never forget it.

Don't discount NFCU just because of what other issuers think.

NFCU is AWESOME!!!

Your credit is about you so go after the credit products that will benefit you the most.

Good luck and keep us posted.

[Anonymous]

I agree the pre-quals don't mean much. You will certainly get the Quicksilver with your scores. I have several capital one accounts and out of all the lenders I am with.. I enjoy them the most.

[Revelate]

If your goal is CSR by 1/2018 I wouldn't go hog wild right now, I'd also keep focused on the prize which is clearly Freedom + FU + CSR currently.

Actually what I would consider is see if Chase will give you a FU, and then go wrap your arms around them for a year as the FU by itself is every bit as good as the Quicksilver other than the foreign transaction fee.  I'd also keep the secured card open if the AF is trivial (if it's not there's other issues preventing the CSR FWIW), and close that out once you obtain the CSR.

Do that in 1/2017, then CSR 1/2018 seems like a good plan based on your current file.  Also AAOA 1 year still seems to matter not at all, old school was 2 years, and I did find a breakpoint at 2 years but unless FICO 8 changed it it may not do you any good anyhow.

Pull the Share Secured Loan trick too in 1/2017 if you don't have an installment loan... anyway if you want a goal card maximize your relationship and your score and take the shot.

[Anonymous]

I had the same scores as you and Capital One denied me TWICE for the Quicksilver.

But I was able to get a AMEX after prequal. I'd go for the Amex. I feel like you'd have better luck. You seem to fit the BCE. American Express has been very good to me.

[Anonymous]

@sandcat  

Banks may not think much of NFCU or other CU's, but the bottom line is their CC work like all the rest, a 25k CL will buy 25k worth of stuff.  I never really gave CU much though before visiting these boards, but so far they are great.

Comparing the NFCU Cash rewards card (mine) to Chase Freedom (DW's with 800 across the board) they both give 1.5% cash back, mine has an interests rate 9.9, Chase 20 something, NFCU you can redeem 1 cent in can back, Chase you need to accumulate $20.00 cash back before you can use it.  Both have great Customer Service.

When I got a car loans in the past, Chase gave them but lock me into simple add-on interest auto loan, meaning I couldn't really pay it off early, my loan reflected my interest. PenFed approved me in 30 seconds (maybe less) with a simple loan in which I can pay it off early without incurring  full interest. 

Chase has the brand name for whatever that's worth, but CU's (many of them, you need to research them here) offer the same/similar products and are straight shooters.