@Jarnog wrote:I'd have to echo CA's posts.
+1 on all his info and suggestions.
DW is basically in the same boat. Has a few cards here and there, and got the first Cap 1 pre-qual that wasn't "couldn't find xxx but recommend xxx". Same as you, Both Ventures and the regular QS with APR listed (no range). She has been in steady rebuild mode and her scores are comparable to yours.
Kept her from taking the plunge, just due to the fact an AMEX she is an AU on will report 95% util down to 0 in a few days. And once that reports she wants to "spree", a small one
Personally, I would just go for it. 10k likely, maybe more...like what happened with dobirdsmommy
. But again, just my feelings, you gotta do what's right for you!
Thank you Jarnog! With all of the wonderful insight you guys have shared I have to say that I am leaning more towards taking the plunge...shoot for the moon and land amongst the stars right?! THEN I totally must garden
Starting Scores 2/13/15: EQ 635 EX 674 TU 684 ////7/16/15 Scores: EQ 661 EX 669 TU 703 //// 2/15/16 Scores EQ 652 EX 647 TU 756 //// 3/24/16 Scores: EQ 661 EX 649 TU 773 //// EQ 670 EX 653 TU 768 (EQ And EX still tainted)
@Anonymous wrote:I agree with the op's, but one question. How old is your Merrick Bank. Have you gotten the double credit limit at 7 months yet?
When I see scores in the mid to high 600's I am a little nervous about closing cards that could help AAoA and utilization. With scores not comfortably in the 700's and credit limits that can't withstand thousands in activity and still have a utilization of less than 25%, it may be wise to not close anything until that over 700 high limit across the board is reached.
I would apply for the cards that you are prescreened for and as the op said do both Cap One's back to back.
See what happens and then garden. The inquiries will only lower your score temporarily.
Credit One would be a card I no longer charge on as they charge interest as you know with no grace period. Once you are over 700 across the board, I would then close it out.
My .02 worth.
Thank you for your answer! I totally understand what you are saying. I definitely wouldn't want to shoot myself in the foot. My average age of account is about 5 years according to a different credit monitoring site. My Merrick is about 2 years old and I have doubled my original limit. My Credit One is about 3 years old. My current utilization is >5%. (I have paid down a bit of debt in the last month or so).
@Anonymous wrote:Ok so Merrick is 2 years old and they won't go any higher.
Did you have some late pays in the recent past or collections? Or is the score you have in your siggy before you paid your accounts down and represents a high utilization. Is the Quicksilver 1 an older account that can't go any higher? The credit union helped you out a lot. Did you ever apply for an AmEx?
It seems like if you have a clean file and low utilization you should be in the 700's after all of your accounts report.
i think if your scores go up and you could get some higher limit prequals, those $200 and other low limit cards can be eliminated if they won't substantially raise the limits with sp's.
Yes, I totally agree, Merrick has done all that it can do for sure. All of my baddies are from 2009..so they are at the 6 year mark now. I got a boost in my score from my first round of pay down, but haven't seen what the second round has done for me yet. I did try for AMEX but got denied...they still "see" the baddies from 6 years ago, lol. I don't think the new accounts have reported yet. The Quicksilver One is an old platinum account I recently did a PC on. I really hope it will grow. I am going to give my low limits cards a while to grow, and if they don't on SP they will be eliminated for sure. Time to begin the streamlining process I think...and I would LOVE to see a 700 score!!
@I-think-I-can wrote:*** Well, I applied and only got 5k
...at 16.9 %.. Cannot say I'm not disappointed, but hey, 6 months ago I would have never had a shot at all. Thank you all for all of your answers and your support! I aimed for the moon and it looks like a landed amongst stars instead
Congratulations.
I do not think you have anything to be disappointed about, this is a good starting cl, and is exactly what I got on my Venture One (see my scores below). It is way above the majority of your cards and it is possible to grow it via sp according to everyone else here.
@Anonymous wrote:
@I-think-I-can wrote:*** Well, I applied and only got 5k
Congratulations.
I do not think you have anything to be disappointed about, this is a good starting cl, and is exactly what I got on my Venture One (see my scores below). It is way above the majority of your cards and it is possible to grow it via sp according to everyone else here.
Thank you so much!! Yes, after sleeping on it, the initial disappointment has subsided. I just got caught up in the mindbendingly high limits that were getting tossed around, lol. In all fairness, Capital One gave me an awesome opportunity for my first, non- credit union 5k card, and I am thankful for that. Not to mention, my very first travel card EVER!! I will do my best to help it grow along with the others.