Which card next

[Anonymous]

So I've got over 700 on all 3, total cl oaround $26,500 and about 23% utilization.  My latest card is a chase slate with a $7500 limit, and I transfered all of my balances to this card so it has about 84% utilization and zero on everything else.  

I's like to get another card to puch me over the $30k mark, I've got a discover, cap1 and Amex.  What other cards would anyone recomend? I keep hearinf about PenFed and NFCU.

I've thought about re-fiancing my car loan through pen fed b/c I think I could save 2-3%.

Thoughts?

[Anonymous]

What card you should get next depends on your needs.  If you needed another card, you should have applied before doing the balance transfer to the Chase Slate.  As things stand now, your scores are going to dip once the card reports 84% utilization...

Both NFCU and Penfed are great CUs and you should definately look into them for auto financing.  But your choice of card depends on your spending habits.

[Anonymous]

The chase has t show. Up yet on my cr, and doesn't show my first payment being due till 7/2 so I'm thinking I've got a few weeks.

As far as spending. I'm not looking for a card to use as much as I'm looking for a card with a higher limit to bring my total utilization under 20% and get me over the $30k total credit limit.

[Anonymous]

So how does utilization work? I thought since I increased my total credit line with the chase card. And transferred the balances this would help. Yes. I will have 1 card with 84% utilization and all the others at 0. So total across all cards will be only 23%

[degs138]

Utilization works two ways. Total effects your score the most, having one card with high Utl also has a negative effect. As long as your under 30% utilization over all it won't be as bad. But try to be under 10% and one high card won't do much to it. I have under 8% utility and one card started reporting 82%. Dropped me down about 5 points. When I had a 28% utilization and one card reported 52% my score dropped 30 points.

[Anonymous]

Keep thinking about this. If my other cards report a zero balance before chase shows account. My util could be 0. If that's the case I probably would try and apply for something.

[Anonymous]

Thanks for the feedback

[degs138]

Just be carefull not to get to much credit to fast.  I assume you are carring a balance on Slate because it's free to do so.  If you want credit for reward points then find out what you spend money on and get that card.  If you are seeking more credit just make sure you have a plan to hit spend bonuses without jepordizing paying intrest.

[Anonymous]

I agree. I'm really only wanting to get above the $30 threshold for now. I did get the slate to transfer balances for 0%, this was after paying off about $9k in cc over the past 30 days.

As far as spending. I wish my Amex delta had a higher limit but I can't get them to budge off of $1k

I'd like a card to use for my travel expenses at work. I could easily rack up and pay off $2-3 k each month in travel expenses.

[degs138]

AMEX like to see balances paid in full every month.  If you spend some time using the card and paying the full balance they will increase your CL.  I went from 2k to 6k after 90 days.  I'm hoping to go to 18k the next time around.