Pre-q'd for both Slate & Freedom. Can I app for both at once?

[CreditCuriosity]

Get your utilization down if you want a decent chance and a decent initial CL and APR with either of these cards...  Ideally 30 or even more ideally below 10%...  You are killing yourself if you app at even 50% utilization imo.  So it is a catch 22 scenario you are in.. Ideally in a perfect world this wouldn't of happened, but it has .  That is the problem with BT cards..  Usually when you need them you are in a bad position and thus you get lower limits and less then favorable terms.

Unless as Nixon stated you have a very high income.. Then that begs the question why are you running such high utilization?  So see my above advise..  Best of luck either way you choose.

[CreditMagic7]

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@CreditCuriousity wrote:

Get your utilization down if you want a decent chance and a decent initial CL and APR with either of these cards...  Ideally 30 or even more ideally below 10%...  You are killing yourself if you app at even 50% utilization imo.  So it is a catch 22 scenario you are in.. Ideally in a perfect world this wouldn't of happened, but it has

Unless as Nixon stated you have a very high income.. Then that begs the question why are you running such high utilization?  So see my above advise..  Best of luck either way you choose.

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+1

Really couldn't agree any more ^

[Anonymous]

Thanks. I don't have high income. Getting utilization down to 10% before applying seems pointless. I'd have that paid off in 3 months even without transferring it.

I may look at going with a personal loan through Lending Club or Prosper rather than a BT card (I was approved for $10k @ 7.86% APR for LC, but I didn't pull the trigger). My debt is at 12.99% fixed, so it's not awful. I will also need an auto loan in May 2016, so I want to avoid HPs after April. If I keep paying at this rate and nothing else changes, I should be in good shape by the time I need the car loan.

I just want to get rid of this debt. I guess I will mull it over until April and see where my utilization is at that point.

[CreditCuriosity]

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@Anonymous wrote:

Thanks. I don't have high income. Getting utilization down to 10% before applying seems pointless. I'd have that paid off in 3 months even without transferring it.

@I may look at going with a personal loan through Lending Club or Prosper rather than a BT card (I was approved for $10k @ 7.86% APR for LC, but I didn't pull the trigger). My debt is at 12.99% fixed, so it's not awful. I will also need an auto loan in May 2016, so I want to avoid HPs after April. If I keep paying at this rate and nothing else changes, I should be in good shape by the time I need the car loan.

I just want to get rid of this debt. I guess I will mull it over until April and see where my utilization is at that point.

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That is a good rate for lending club!  I would be all over that in your scenario.  

[Anonymous]

I didn't pull the trigger because they asked for tax returns for income verification (I'm self-employed). My 2013 income (which I reported on the app) was substantially higher than my 2012 income, so I have to wait until I file my return this year.

I'm going to sit on this until April, but I think this may be the best strategy:

• Apply for Slate (don't apply for Freedom)
• Request CLI on Slate, explaining that I want to transfer full balance
• Take out LC loan for whatever I can't put on Slate
• Hold off on applying for Freedom until I'm under 10% util

I don't care about keeping the Slate long-term, but I do want the Freedom. The Slate is just a means to an end.

Does that make sense?

[Anonymous]

Well, my situation looks better than it did yesterday. I had a collection fall off my account much earlier than expected. My CK score jumped 23 points, and I am now pre-qual'd for premium tier cards (including CSP) from all the lenders I checked. It doesn't change my plan, but it is good to know that anyone who pulls my report will now be looking at a clean record.

[CreditCuriosity]

Sounds like you are in a decent position to be honest.. The interst you have isn't horrible by any means on your current CC compares to other cards out there.. Sure you will might the right choice and know your finances the best

[Anonymous]

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@CreditCuriousity wrote:

Sounds like you are in a decent position to be honest.. The interst you have isn't horrible by any means on your current CC compares to other cards out there.. Sure you will might the right choice and know your finances the best

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I'm lucky. If that card was at 23% instead of 13%, I would be in a lot more trouble right now.

Thanks for the reassurance. It's tough not to get obsessive and micromanage. I have to remind myself the reality is any amount I can transfer to 0% APR saves me money, and a handful of hard pulls won't hurt my credit that bad, especially if I am decreasing utilization every month.

[jaeproc]

I was approved on wednesday,for the united explorer card 10k limit, also chase slate 5k limit, I was pre qualified for both cards!   I went ahead and submitted both applications, united first then slate!  Exp fico 735, transunion 724, income 90k, hope this helps, and good luck!!!!