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Simplicity & Slate Approvals with Stats

GFer
Valued Contributor

Simplicity & Slate Approvals with Stats

Trying to help a family member who only has three cards and has $12,579 total debt across the three. Scores:746 TU Fico08, Van3 from Cap1 735 on 10/19. Only scores we had at the moment.

Aggregate utility was almost 60%.

Indiv. utility: 

Freedom 44.31% - Interest Rate = 23.24

Disco      71.37% - Interest Rate = 23.99

Cap1       48.13% - Interest Rate = 18.15

Hate applying when utility so high, but it had to be done. Looked into personal loans and thought this would be less expensive for him. Have been trying to snowball the int fees are ridiculous, to say the least!

Citi Simplicity 24 MO BT Offer - APVD $8,800 - (12 MO for purchases, but WON'T be using that option!) - 17.99 after BT expires

Chase Slate 15 MO BT Offer - APVD $3,600 - (can't remember rate thereafter, think it was like 21.99) - Just wanted the no fee. Got more than I thought he would, really. Waiting to get the cards to do the BT's. In the meantime, I've already made his monthly payments for November.

Plan on BT'ing 5766 for a fee of $172 from Disco to Simplicity. Will be at 65% on Simplicity and -0- bal on Disco. Will BT $2,700 from Cap1 to Slate. Cap1 will be @ 18.39 untility and slate @ 75%. High I know; but he will be able to knock those down quickly. Freedom (top) will be paid off first, of course.

Rem
Balance
LimitUsed before
PMT
Currently
% Used
Interest
Rate
1,149.554,000.0028.74%28.74%23.24%
0.008,500.0067.84%0.00%23.99%
1,792.809,750.0046.08%18.39%18.15%
5,766.178,800.0065.52%65.52%0.00%
2,700.003,600.0075.00%75.00%0.00%
8,708.5234,650.0049.57%25.13% 


EQ 817, EX 815, TU 813 (Updated 1/5/18: TU 843

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GFer
Valued Contributor

Re: Simplicity & Slate Approvals with Stats

Forgot to add: no inquires in over 24 months and no baddies on any cb.



EQ 817, EX 815, TU 813 (Updated 1/5/18: TU 843

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Disabled-Vet
Valued Contributor

Re: Simplicity & Slate Approvals with Stats

It's good that you're helping the family member and congrats on their approvals. You could easily have pulled their scores for 1$ on credit check total. Dv


     $500         $1,000        $1,300        $1,500        $1,850         $3,400        $3,500                            $9,500        $1,000
Message 3 of 6
AverageJoesCredit
Mega Contributor

Re: Simplicity & Slate Approvals with Stats

Nice job helping family member. Pretty great score for such high util, that might account for why their new cc limits were better than you thought. Can i have your scoresSmiley Wink
Message 4 of 6
GFer
Valued Contributor

Re: Simplicity & Slate Approvals with Stats

I know--I was floored by his score with such high utility on all cc's!  I couldn't get away this that!

My scores took awhile to get that way. I have a balance I've been carrying with zero promo.  I just paid off a good chunk and I'm still waiting on updated score. I'm going for the Tom Thumb scores! lol



EQ 817, EX 815, TU 813 (Updated 1/5/18: TU 843

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donny10
Senior Contributor

Re: Simplicity & Slate Approvals with Stats

Great job. Congrats.
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