I mean I could see myself going for the Plat for the low interest except I likely wouldn’t get 7.99% nor do I ever carry a balance and my cashRewards is already at 11.65% - but also, adding another card would mean 6 new cards this year (although I canceled one of them and two older ones) and that seems like a very bad idea with my profile so I’ll take a shot at the CLI and see what happens.
The big approvals definitely have gotten my attention though. Worst case scenario I suppose I could get a second card and see if they’ll combine it after 6 months or a year.
Congratulations OP and thanks for the DP.
Learn something new everyday.
“but also, adding another card would mean 6 new cards this year (although I canceled one of them and two older ones) and that seems like a very bad idea with my profile so I’ll take a shot at the CLI and see what happens.”
I only had one credit card a year ago with a $500 SL. I’ve had a lot of inquiries this year (average of 12) but I’ve also added 12 new accounts for a total of over 38k in credit PLUS a mortgage. My score has gone up and down but hasn’t changed much because my mortgage hasn’t posted yet and it’s my only active loan, plus I still have a medical collection. From my research when building credit, it’s nornal to add more accounts the first year and let them age together. It’s worked for me anyhow. You just have to find what works for you
Unfortunately this isn’t my first year. I was a bit slow. Ch 7 2010, repo of reaffirmed car 2012, first credit after BK 2014.
I am also very low income at 18k and I’ve got $25,750 revolving credit with the last card I added so honestly boosting my cashRewards to $7,500 would more than satisfy any current credit needs as I can’t really see a scenario where I would need more than $2000 which would be ~27% of that limit and I’m a PIF type unless I’m financing something major at 0%.
I just don’t want to trigger AA for all the new accounts - although I think it’s incredibly unlikely with the lenders I have and the fact that I’ve shown I’ll prune cards I don’t use.
I am just a worrier by nature. Your DPs definitely help me set my expectations so I thank you again
And sorry for derailing your thread but I appreciate your input
|Total Credit: $240,100||Credit Utilization: 1%||AAoA: 5 years, 7 months||Installments: Car Lease, Marcus Loan||Negatives: 0|