Should I even consider another card with my debt?

[Anonymous]

Once again coming to my senses and probably not going to do this, but let me reframe the question. With my current util and FICO scores,

1. Am I going to get enough of a limit to be useful ($1k even)
2. Am I risking any AA from BofA?
3. Am I going to look bad in the future applying to prime lenders like Chase and AmEx?

[TravellingNomad]

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@Anonymous wrote:

Once again coming to my senses and probably not going to do this, but let me reframe the question. With my current util and FICO scores,

1. Am I going to get enough of a limit to be useful ($1k even)
2. Am I risking any AA from BofA?
3. Am I going to look bad in the future applying to prime lenders like Chase and AmEx?

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1. You may. As someone mentioned, you can try to go for a Barclays card. I'd be hesitant with going for the QS1 because cap1 pulls all three and you may get the one with an AF and a low limit.

2. As mentioned before, 1 app is not going to spook BofA.

3. Approval on future apps will depend on how your credit profile will look like at that time. If your util on that one card is still high when you pull the trigger..that will be a reason Chase or amex decline you for.

[Anonymous]

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@TravellingNomad wrote:

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@Anonymous wrote:

Once again coming to my senses and probably not going to do this, but let me reframe the question. With my current util and FICO scores,

1. Am I going to get enough of a limit to be useful ($1k even)
2. Am I risking any AA from BofA?
3. Am I going to look bad in the future applying to prime lenders like Chase and AmEx?

---

1. You may. As someone mentioned, you can try to go for a Barclays card. I'd be hesitant with going for the QS1 because cap1 pulls all three and you may get the one with an AF and a low limit.

2. As mentioned before, 1 app is not going to spook BofA.

3. Approval on future apps will depend on how your credit profile will look like at that time. If your util on that one card is still high when you pull the trigger..that will be a reason Chase or amex decline you for.

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QS1 is a pile. The Journey beats it with a telephone book.

But honestly, they both are subprime cards. The Journey is just the hidden gem of the two.

[Anonymous]

Is it worth trying for a Sallie with my credit profile? Or should I just go for the Rewards?

I don't think I'll actually app for at least another month or two, so at least I can say, "please sir, look how good I've been! I'm paying off my debt steadily!"

I just want a 2nd card so I can have a grace period. Any cash back/rewards is just icing on the cake.

I just get the sense with some of these lenders (... Chase) that if you don't get a decent credit limit right off the bat, it's an uphill battle to CLI your way to something worthwhile.

[Anonymous]

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@Anonymous wrote:

Is it worth trying for a Sallie with my credit profile? Or should I just go for the Rewards?

I don't think I'll actually app for at least another month or two, so at least I can say, "please sir, look how good I've been! I'm paying off my debt steadily!"

I just want a 2nd card so I can have a grace period. Any cash back/rewards is just icing on the cake.

I just get the sense with some of these lenders (... Chase) that if you don't get a decent credit limit right off the bat, it's an uphill battle to CLI your way to something worthwhile.

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Sallie Mae is a great card, but that utilization is going to hurt.

[Anonymous]

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@Anonymous wrote:

Sallie Mae is a great card, but that utilization is going to hurt.

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This is the problem at hand. Frankly. at this point, I don't really care what specific card I get. I just want something with an OK credit limit ($1k is fine). I don't care about APR or even rewards (though something would be nice). Just want a card with a grace period that I can use instead of my debit card. And I don't want it to look bad on my credit report in the future when applying for better cards.

[lhcole77]

OP, do you belong to any CUs?

[Anonymous]

No, not right now. I'm eligible for at least 2 local CUs though.

[scorewatcher7]

You know, I understand what you're looking to do, but in all honesty, if the title of your post is 'should i even consider....' the chances are that you already know the answer.. I would try and pay down some debt before applying for anything new.  just my two bits. I'm like you though- always looking...

[lhcole77]

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@Anonymous wrote:

No, not right now. I'm eligible for at least 2 local CUs though.

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If you are serious about paying down this debt you might want to consider talking to a local CU.

I'm not sure what the APR is on your CCs right now (can't remember if you said you currently have 0% offer on BofA) but CUs may offer a good alternative. One of mine was offering a 5.99% loan special to pay off debts. Another one had BT specials. Granted these offers were not 0%, but they did have 0% transfer fees and the loans were super low APR, as far as loan APRs go.