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The CC will boost your UTIL on the revolving side but, the 2 loans factor into the installment calculation. This is more of a credit mix perk where if you didn't have any loans before you would get a 20-30 point benefit from having them now.
Scorewise though you're primed for a CC approval depending on what else you have added in the last year.
loans will have a small impact on aging but, overall they're not that big of an impact.
volatility comes from the CC's when you hit thresholds of spending that's reported with the statement balance.
$300 on Propel though is enticing enough and you have the spend to hit the MSR then I would do it..... well, I did it already... One thing I don't like about WF is the bonus restrictions of one every 15 months.
Other than that they've been alright. I do like the new redemption method though where you can zero out a purchase with points vs the $25 increments before. I think they finally ventured out of the 1800's but, still not quite 21st century yet.
Loans DO effect your age like revolving lines. Their utilization however is calculated separately and differently.
I am curious Re: Propel, is it reviewed and granted by WF or is it granted by Amex?
@BallBounces wrote:Loans DO effect your age like revolving lines. Their utilization however is calculated separately and differently.
I am curious Re: Propel, is it reviewed and granted by WF or is it granted by Amex?
It onlly uses the amex payment network. Amex only handles the cards on their website. Any other amex like Macy's, NFCU, etc., are handled by the respective lender.