Mini App Spree & CLI's - For my Mom

[Anonymous]

I was helping my mom with some of her finances.  I was shocked to find that she had 3 cards over 70% UTI & 1 card at 60%.  She had no idea how that was affecting her.  We reviewed her accounts and she had 25%+ interest on all of these.  Total balances of $8000 across all accounts. 

I had recently joined NFCU, thanks to her service, so I told her she should join and take a look at some of their products as their interest rates are low on most of them.  She joined, we applied for the Platinum which was offering 0% for 12 months.  She was instantly approved for $10K and received the 7.99% rate after the promotional period.  She is going to transfer all of her balances here and lump all of the payments into this one account and pay it off at the end of the 12 months.  

As we were reviewing her accounts, I recommended she try for CLI's on all of them.  She got the 2-3 day message on her Cap1 QS, no option on her CreditOne card & no option on her Merrick Bank.  Her 4th card is an AMEX Delta Gold.  Current limit of $6K.  She went for $10K total & instantly approved the increase (told her she probably left some on the table).  After that, she explained that she was using her CreditOne card for Groceries each month and would then pay that amount off.  This disappointed me as she is missing out on rewards!  We looked at some of the AMEX cards and ultimately she decided to go for the BCP for the 6% on Groceries & 3% on Gas.  Instantly approved for $10K!  She agreed to PIF every month on that card!

So all in all a good go for her.  

$20K in new Credit

$4K CLI's

DP's:

Experian FICO - 691

3 30 Day Lates last 4 years.

4 CO Accounts with DOFD of Sept 2013 (Will fall off next year)

UTI - 67% Overall (She has one account at 96%!)

AAOA - 9 yrs 4 mo

[credit_is_crack]

Nice Job!! Thank You for her service, and Thank You for looking out for her! Both my parents were military so I have a deep respect for anyone who serves.

I really feel like the credit world would be a whole different space if people knew the ins and outs like folks on this forum do. Good thing is you’re here and you played an awesome hero for one of the most important people on the planet!

Congrats to Mom on the Spree and new additions!!

[GApeachy]

Wow wee!  You're awesome and just continue to keep eyes on her accts. to nudge her along the way and she'll learn how to work it.  Good Son, she's a lucky mom.

[AverageJoesCredit]

Outstanding Thanks to Mom for her service

She's really going to be good now but i must say this with all due respect.....NOW CLOSE CREDIT ONE!!!!

[Anonymous]

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@AverageJoesCredit wrote:
Outstanding Thanks to Mom for her service

She's really going to be good now but i must say this with all due respect.....NOW CLOSE CREDIT ONE!!!!

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Already told her once its at a $0 balance, she needs to close it!

[M_Smart007]

A Big Congrats for helping Mom

[M_Smart007]

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@AverageJoesCredit wrote:
Outstanding Thanks to Mom for her service

She's really going to be good now but i must say this with all due respect.....NOW CLOSE CREDIT ONE!!!!

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Now @Anonymous , just make sure you do the same

#TodayIsNationalPickOn @AverageJoesCredit Day!

I am Agent 86,

and I approve this!

[Anonymous]

Great pickup for Mom!

[Anonymous]

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@M_Smart007 wrote:

A Big Congrats for helping Mom

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If I am being honest, it helped me too.  Helped me because I am currently Gardening, just short of 30 days and clicking all of those apps & CLI's helped settle my urge, kinda.