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Need help deciding which card to apply for!

bengnpd
New Member

Need help deciding which card to apply for!

I have a bankrupcy Chap 7 from 7 years ago.  My score is 684 and I have a capitol One card with a $7,500 credit line and I am about $5,000 in.. I am also a Realtor, so I either pay big chunks or I am scraping the barrel!  But I want to get rid of the $90/month interest.  With my bankrupcy,  I don't want to waist time or lower my score guessing which card I will end up.  I just asked for the increase on my current card (to show room/ available money) hoping it will help get a new card with a new company that has a good BALANCE TRANSFER program.  ANY help is greatly appreciated!!! Best

Message 1 of 9
8 REPLIES 8
Gemini101
Valued Contributor

Re: Need help deciding which card to apply for!

 


@bengnpd wrote:

I have a bankrupcy Chap 7 from 7 years ago.  My score is 684 and I have a capitol One card with a $7,500 credit line and I am about $5,000 in.. I am also a Realtor, so I either pay big chunks or I am scraping the barrel!  But I want to get rid of the $90/month interest.  With my bankrupcy,  I don't want to waist time or lower my score guessing which card I will end up.  I just asked for the increase on my current card (to show room/ available money) hoping it will help get a new card with a new company that has a good BALANCE TRANSFER program.  ANY help is greatly appreciated!!! Best


 

More info would be needed to even GUESS ...but no USEFUL info can be gather w/

 

Hey work with

1) Bk 7 years ago and

2) One account at 67% debt ratio

 

What's the BEST I can do w/o a 'waist' of my time...c'mon really?

 

If a would be h/o came to you as a realtor if a half-baked effort towards their profile could you 'really'  help them

or advice them....their gonna need to give you a little more, unless they just want some NONSENSE response.

 

 

How old is a Cap-1 account?

Is it the ONLY account established since the BK

Is it secured at that amount or did they give you CLI's over time to get that high?

Do you have inquiries other than just this Cap-1 in the last 7 years?

 

The reason one would ask is it seems 'something' is off with just 1 account 7 years post BK, then it happens to be a large limit card

with a out of whack high util rate, is that card a auth user/joint ? Something seems off..

 

Again with zero profile suggestions are a waste of time and a useless excerise for you (like a non cash buyer that can't get a mortgage

what are WE doing here? Smiley Wink)

 

Best of Luck

 

Give a bit more info and you'll get better intel

 

Do you belong to a CU?

 

Also have you checked pre-qual sites?

Message 2 of 9
creditguy
Valued Contributor

Re: Need help deciding which card to apply for!

Is your score a Fico score or a Fako score? What CRA is this 684 from? What banks did you burn in your BK? And do you currently have any baddies other than the BK? A balance transfer sounds great but there is no guarantee you would get the limit you would need to transfer balances so it may be a futile effort.
Message 3 of 9
bengnpd
New Member

Re: Need help deciding which card to apply for!

Well Sh#t, I'm not sure where to start.  As far as what I can offer.. I was an investor for 8 years when the market crashed in 2005, I found myself underwater.  900k went to the 7.  I didn't get to 25 properties between the ages of 17 and 24 because I did not understand how credit works.  I have taken many classes over the years, but I don't know it all and to be honest this is my first community type discussion I have ever done!  So far it's fun, but hopefully I will be able to contribute in some way as I am in debt to those of you helping me and I'll pay it forward to the next me.  :-0)  

I got my current credit card 2 years after the discharge.  It was after 2 department store cards were approved.  It was not secured, started with a $500 limit at 22%.  WIth my last increase I was able to change the card to a 12% plus 1.5% cash back.  Capital approved me for a car loan this year.. I went with someone else, but I almost fell off my chair when they said I could buy up to 40k.  But to be pro-active I asked for increases 1-2 times per year-- only after I asked the rep on the phone if it was a good idea.  Some increases just happend after their regular quiet review of you/ your credit report.

Anyways, so for about 5 years I have had my credit card and I never pay the minimum due.  I don't know if this is correct or not, but it seems making sparatic payments or paying a few weeks early (mainly because how I am paid and I like to be ahead if I can, just like everyone else) has helped.  

So, 684 is from the capitol one score generator and from when I bought a car in January, the dealer ran it by 3 banks, one of them denied me and I was able to get my free report and I disputed everything disputable.  inquires etc. 684 is not consitered excellent its good.  A few of the cards I like call for excellent/good.  So, because of the bankrupcy, I would imagine I am just good.  But I don't know.  I don't know what excellent/good even means!  

I have not checked pre-qual sites.  Would you recommend any?  If anyone has any questions I would love to contribute.  This is my 2nd time writing now.. I'm still just a virgin. lol  Thanks 

Message 4 of 9
RonM21
Valued Contributor

Re: Need help deciding which card to apply for!

I would check the prequal sites for sure. To add, I'd also try to.get your actual Fico scores to see exactly where you stand. The Cap1 score is a Vantage score of some sort, not.Fico.
                

Total CL: $314.7kUTL: 2%AAoA: 6.8yrsBaddies: 0Other: Lease, Loan, *No Mortgage, All Inq's from Jun '20 Car Shopping

BoA-55k | NFCU-45k | DISC-40.6k | PENFED-38.4k | AMEX-37k | LOWES-35k | ALLIANT-25k | BARCLAYS-15k | CITI-13.7k | CHASE-10k

Message 5 of 9
BellaLina
Established Contributor

Re: Need help deciding which card to apply for!

Check the Prequal sites... Chase, Citi, Amex, Discover, Bank of America.  See what cards you may prequalify for. ... please note that I did not prequalify for a few I applied for and was approved.   But it is definitely a good idea what fish will be biting first.  

 

Keep us posted and provide some more info.. cause these are your peeps and sharing is caring. 

I love a Cinderella Story with a happy ending!  I will be interested in following your success. 

 photo AllCC.jpg11/22 FICO8: EX/697 TU/721 EQ/700 ~ Tip Toeing thru the Tulips in my Garden since 6/21
Message 6 of 9
julie5
Frequent Contributor

Re: Need help deciding which card to apply for!

If you are in no hurry....

Read all the great info here....

Read the past threads about the prequal sites

Some are a joke....some are reliable....

You have many options....which is an asset

Working in sales is tough ....and managing your credit is , of course, an essential part of your job. 

Read,...read....read!!!

I would share all my mistakes but I don't want to cry and mess up my keyboard.

 


Message 7 of 9
julie5
Frequent Contributor

Re: Need help deciding which card to apply for!


@julie5 wrote:

If you are in no hurry....

Read all the great info here....

Read the past threads about the prequal sites

Some are a joke....some are reliable....

You have many options....which is an asset

Working in sales is tough ....and managing your credit is , of course, an essential part of your job. 

Read,...read....read!!!

I would share all my mistakes but I don't want to cry and mess up my keyboard.

 


P.S.

Careful on the Balance Transfers.....you might get sad ccredit lines from the big boys.....and be stuck

1200 from Citi...or Chase....

7500 from cap 1 is a good start.....

Try the credit union route....that is my best advice...they can give surprising large credit lines

And READ...READ ....READ .

.Anything you put in the search box will bring interesting info

GOOD LUCK

 

 


Message 8 of 9
julie5
Frequent Contributor

Re: Need help deciding which card to apply for!


@bengnpd wrote:

I have a bankrupcy Chap 7 from 7 years ago.  My score is 684 and I have a capitol One card with a $7,500 credit line and I am about $5,000 in.. I am also a Realtor, so I either pay big chunks or I am scraping the barrel!  But I want to get rid of the $90/month interest.  With my bankrupcy,  I don't want to waist time or lower my score guessing which card I will end up.  I just asked for the increase on my current card (to show room/ available money) hoping it will help get a new card with a new company that has a good BALANCE TRANSFER program.  ANY help is greatly appreciated!!! Best


Do your homework and know your credit scores..........

Invest here ( well worth it ....and a tax write off for you )

If you are super tight....

Credit karma.....and many more.....but free has a price!


Message 9 of 9
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