Re: What to app for when closing rebuild cards??

adamkingadam · ‎08-04-2016

I am finally at the point where I can pay off my rebuilding cards and close them. However, I would like to replace the lost credit lines with another card so my UTI won't spike. When I app, I am anticipating (hopefully) a jump of my fico to 680-700 range in a couple of weeks after some payments report. The total credit limits I will be closing on three cards will be $2,450.00

Any reccomendations on a card to replace those with with a SL in the $2,500 or higher range? I currently have a Costco Citi, Amex BCE, Barclay NFL, Discover IT. Please note that all those cards listed are new so CLI on those to negate the closing cards is not possible at the moment.

Thanks for any reccomendations!

Starting Scores: 1/1/2016
EX 600 EQ 598 TU 610
Current Fico Scores (9/2016):EX: 674 EQ: 678 TU: 689

AverageJoesCredit · ‎08-04-2016

Hi AKA! Not sure what your scores are but maybe if you apply for Sync's Marvel mastercard, if you get approved with something like $1200-1400, its quite possible to call CS and get it up to $6000 . If you are approved for more, probably even more. I say this as many of us here on myfico who applied and approved for that sl seem to be able to up it to 6 . My TU fico was around 690 i believe when i was approved. Hope this suggestion helps in any way. Cheers

Journeygod · ‎08-04-2016

@adamkingadam wrote:
I am finally at the point where I can pay off my rebuilding cards and close them. However, I would like to replace the lost credit lines with another card so my UTI won't spike. When I app, I am anticipating (hopefully) a jump of my fico to 680-700 range in a couple of weeks after some payments report. The total credit limits I will be closing on three cards will be $2,450.00

Any reccomendations on a card to replace those with with a SL in the $2,500 or higher range? I currently have a Costco Citi, Amex BCE, Barclay NFL, Discover IT. Please note that all those cards listed are new so CLI on those to negate the closing cards is not possible at the moment.

Thanks for any reccomendations!

FNBO Dodge Mastercard

Paypal Mastercard (You can usually get your SL increased significantly after the card arrives).

Cap One QS 9Make this the last one you app for because they pull all 3 bureaus).

Maybe Marvel Mastercard or Ebates (Synchrony again)

The starting limits on these cards should well exceed $2,500

-Good Luck!

Anonymous · ‎08-05-2016

I understand that you are trying to pad utilization. I would suggest holding off a few months before applying. You need to let scores build a little to get higher starting limits. Applying right now is going to either drive your scores lower (AAoA drops and inq increases). Lower limits aren't going to help you with utilization. The new cards you have will grow. Amex will increase in just 3 short months. Discover will start growing in 4 to 5 months.

I have seen so many get caught up in the app spree game then get frustrated because it takes so long to buuld the credit limit. Yes, sometimes app sprees have its advantages because they can age together and the inquiries fall off together but that works best when the scores can support it. It isn't uncommon for creditors to match current limits. Building credit takes time and patience. Just something to think about.......

adamkingadam · ‎08-05-2016

Thanks for the input. As far as the AMEX goes I was denied a CLI based on the original report and score that they approved me for, even though my scores are higher and the report is cleaner now. So now I have to wait an additional three months on that one! Grrrr

Starting Scores: 1/1/2016
EX 600 EQ 598 TU 610
Current Fico Scores (9/2016):EX: 674 EQ: 678 TU: 689

Anonymous · ‎08-06-2016

@adamkingadam wrote:
I am finally at the point where I can pay off my rebuilding cards and close them. However, I would like to replace the lost credit lines with another card so my UTI won't spike. When I app, I am anticipating (hopefully) a jump of my fico to 680-700 range in a couple of weeks after some payments report. The total credit limits I will be closing on three cards will be $2,450.00

Any reccomendations on a card to replace those with with a SL in the $2,500 or higher range? I currently have a Costco Citi, Amex BCE, Barclay NFL, Discover IT. Please note that all those cards listed are new so CLI on those to negate the closing cards is not possible at the moment.

Thanks for any reccomendations!

Hi,

Personally if I were you I would wait 2-3 months at least. I love the cards that you have right now.

Personally I love your Discover It and I am jelly on your Amex BCE card. Work on getting those cards Limit Increases.

I do not know what your goals are... but I would look for some rounding out.

The last card that I apped for before I went into the garden was a Credit Union.

Why?

Well I wanted to build a relationship with a large credit union.

Because of the low low interest rates on mortgages and automobiles.

This is your time to read the threads on Alliant, NFCU (Naval Federal Credit Union) & PenFed !

There are datapoint threads here on myFICO. All 3 have different tendencies ..

Check out their products.. check out the datapoints ..

They give way bigger credit lines ..

Maybe you are not interested in refinancing or purchasing YET.

But maybe one day in 5 years you will!

Plus their starting credit lines are more generous.

I chose PenFed. But others swear by Alliant and NFCU.

Different strokes for different folks.

You are close to striking distance once you get that spike.

So in the interim .. read up .. read up .. read up.

You choose your own needs and wants .

Maybe not the fanciest looking cards .. but love all the possibilities.

SouthJamaica · ‎08-06-2016

@adamkingadam wrote:
I am finally at the point where I can pay off my rebuilding cards and close them. However, I would like to replace the lost credit lines with another card so my UTI won't spike. When I app, I am anticipating (hopefully) a jump of my fico to 680-700 range in a couple of weeks after some payments report. The total credit limits I will be closing on three cards will be $2,450.00

Any reccomendations on a card to replace those with with a SL in the $2,500 or higher range? I currently have a Costco Citi, Amex BCE, Barclay NFL, Discover IT. Please note that all those cards listed are new so CLI on those to negate the closing cards is not possible at the moment.

Thanks for any reccomendations!

IMHO with so many new cards you're better off not applying for anything new at the moment.

When the dust settles you might want to go for a Capital One Quicksilver