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congrats on the approval!
@joeaseer wrote:I would suggest that you ask Discover for a CLI on your Discover IT card. I'm sure they'll give you another $1k at least without a HP since you've been with them so long. Congrats on your credit journey. I didn't trust credit cards for years and I just started to understand about them December 2014. Success happens quick when your self-disciplined.
I'm in the same boat now in 2016. I didn't trust credit cards. Then fraud happened on my bank account and figured I wanted a buffer between my cash and my purchases. Instead of using my debit card everywhere, why don't I apply for a credit card? I've had a rocky past with credit cards and realized it's not that I didn't trust credit cards. It's just that I didn't trust myself with credit cards.
Fast forward 7 years later, I'm just now getting back into the credit card game. Here's to rebuilding!
@Anonymous wrote:
You're at 800 with only $2500 on the Freedom? Chase shafted you big time. I'm 23, shorter history than you, lower score than you, got $7000 two weeks ago on the Freedom. Time for a big CLI there yo
Possibility of income difference? A lot of things go into deciding a limit, not just score.
Possibly. I know it's more than the score, hence my mention of the history as well. Looks like OP apped in school so maybe that too.
@Scupra wrote:
@Anonymous wrote:
You're at 800 with only $2500 on the Freedom? Chase shafted you big time. I'm 23, shorter history than you, lower score than you, got $7000 two weeks ago on the Freedom. Time for a big CLI there yoPossibility of income difference? A lot of things go into deciding a limit, not just score.
@Anonymous wrote:Possibly. I know it's more than the score, hence my mention of the history as well. Looks like OP apped in school so maybe that too.
@Scupra wrote:
@Anonymous wrote:
You're at 800 with only $2500 on the Freedom? Chase shafted you big time. I'm 23, shorter history than you, lower score than you, got $7000 two weeks ago on the Freedom. Time for a big CLI there yoPossibility of income difference? A lot of things go into deciding a limit, not just score.
Yes, it's most likely a large income difference. I'm a student, so I don't have anywhere near full-time income. Once I'm done with my Master's degree next year and start working full-time, I plan on calling each credit card company and asking them to raise my credit limits to reflect my new income.
Also, when I applied for Chase Freedom back in November 2014, my FICO was at 750. Since then it has climbed to 793. Now it's likely a little lower than 793 - being approved for Chase Freedom Unlimited left a temporary ding.
While we're all here, recommendations on future cards? I've heard buzz about Citi's Double Cash card, but sadly there isn't a public sign-up bonus. Maybe things will change in the future, who knows.
@Anonymous wrote:
Yes, it's most likely a large income difference. I'm a student, so I don't have anywhere near full-time income. Once I'm done with my Master's degree next year and start working full-time, I plan on calling each credit card company and asking them to raise my credit limits to reflect my new income.
Also, when I applied for Chase Freedom back in November 2014, my FICO was at 750. Since then it has climbed to 793. Now it's likely a little lower than 793 - being approved for Chase Freedom Unlimited left a temporary ding.
While we're all here, recommendations on future cards? I've heard buzz about Citi's Double Cash card, but sadly there isn't a public sign-up bonus. Maybe things will change in the future, who knows.
I apped with 720 but my income is great for a new grad (or was...off to school next month again sigh). The DC won't get a sign-up bonus. They know how good of a deal it is on the market and the only bonuses we've heard of are from the early months of its introduction when targeted $150/$500 offers were sent out. It really depends on your spending habits... Look at AmEx BCE/BCP or Everyday, US Bank Cash+, travel cards. If you travel a bit, a basic no AF travel card would round out your collection and the no FTF would be helpful. If you don't, get a cash back that fits with the categories you spend the most on or suck it up and get the DC if you intend to use it in the long run.
@Anonymous wrote:
I apped with 720 but my income is great for a new grad (or was...off to school next month again sigh). The DC won't get a sign-up bonus. They know how good of a deal it is on the market and the only bonuses we've heard of are from the early months of its introduction when targeted $150/$500 offers were sent out. It really depends on your spending habits... Look at AmEx BCE/BCP or Everyday, US Bank Cash+, travel cards. If you travel a bit, a basic no AF travel card would round out your collection and the no FTF would be helpful. If you don't, get a cash back that fits with the categories you spend the most on or suck it up and get the DC if you intend to use it in the long run.
Yep, that pretty much confirms what I've been thinking. I don't travel much at all really, though maybe that will eventually change in my future. One of my next credit moves is to take out a small (student?) loan to diversify my portfolio. My car is paid for, so no financing possible there. Won't be buying a house anytime soon either, so my options are limited. Slow and steady wins the race.
The answer is a secured loan. See here: http://ficoforums.myfico.com/t5/Understanding-FICO-Scoring/Adding-an-installment-loan-the-Share-Secure-technique/td-p/4506756
@Anonymous wrote:
@Anonymous wrote:I apped with 720 but my income is great for a new grad (or was...off to school next month again sigh). The DC won't get a sign-up bonus. They know how good of a deal it is on the market and the only bonuses we've heard of are from the early months of its introduction when targeted $150/$500 offers were sent out. It really depends on your spending habits... Look at AmEx BCE/BCP or Everyday, US Bank Cash+, travel cards. If you travel a bit, a basic no AF travel card would round out your collection and the no FTF would be helpful. If you don't, get a cash back that fits with the categories you spend the most on or suck it up and get the DC if you intend to use it in the long run.
Yep, that pretty much confirms what I've been thinking. I don't travel much at all really, though maybe that will eventually change in my future. One of my next credit moves is to take out a small (student?) loan to diversify my portfolio. My car is paid for, so no financing possible there. Won't be buying a house anytime soon either, so my options are limited. Slow and steady wins the race.
CreditSnorlax wrote:
The answer is a secured loan. See here: http://ficoforums.myfico.com/t5/Understanding-FICO-Scoring/Adding-an-installment-loan-the-Share-Secu...
WOW! Thank you for linking me to that great, very detailed resource! myFICO Forums is filled with my kind of people. A Share Secure loan is...interesting, to say the least. Doesn't make much sense to me because taking out a Share Secure "loan" requires you to already have the loan amount in your bank account... So really, you're not borrowing any money - it's not a "loan" at all. If I understand it correctly, basically: someone decided to make this process to build credit and slapped the label "loan" on it.