Advice on final App

[xangoboy]

I need some advice on what I should do for my last app.

I received a pre-approval from a local CU here.  It says pre-approved for a credit card or a personal loan up to $10k.  The personal loan would be a rate of 4.89% and the CC would be a rate of 3%.  They pull Experian. 

I'm not sure if I should try and apply for the Venture or go for this pre-approval from the local CU. 

The local CU will pull Experian, but the offer also says on the back, "If new credit has been recieved in the last 60 days, offer may be rescinded."  I have two new accounts showing already on EX...so I'm wondering if that might kill my pre-approval. 

I know many people are having success with the Venture, but I have no pre-approvals at all from CAP1.  I have 2 credit cards with them already, limits were increased last month but they are only at $1500 and $2000. 

My FICO's are: EX-684 (6 inquiries), EQ-684 (7 inquiries) and TU-682 (5 inquiries) with 5% utilization.  Many of my inquiries are within the last month as I'm trying to build a healthier profile with larger limits. 

Appreciate everyones help!

[takeshi74]

I'm not sure we can really help.  We can't tell you what your approval odds are or what limits you stand to qualify for.  We can, however, help you with narrowing down the options if you can provide other criteria.  You should be selecting products based on your needs/wants versus relying on offers.  What made you decide on the Venture?  Have you actually run the numbers for your spend to determine how you'd benefit from the card?

[xangoboy]

Yeah the recent approvals made me think of the Venture. I'm trying to decide which to go for. I don't like the 3HP though for it. So....decisions.

[lg8302ch]

I would not too much worry about the number of HPs but which card would be more interesting for you at this moment? Do you travel where the Venture would be of use or do you carry balances where the CU with a CC with 3% APR would come in handy. Do what makes more sense for you now. I am sure the Venture and your CU will still be around in 6-12 months and you can get either one later on. 

[Anonymous]

Why not get it all?  Either way you're going to have to garden big time after this.  Go for the CU one first then Cap1 as Cap1 seems a bit more relaxed these days.

Don't be worried with CapOne current card limits if they're the rebuilder cards.  They denied me a CLI to bump my $300 to $500 Platinum late last year.  My other Cap1 card is a secured $851 limit card.  This month they gave me 30K Venture.

10K on a CU CC @3% or PLOC and a shiny new Venture.  Sounds tasty.

[deltatee]

If you only want to app once, I would definitely consider the CU PLOC if you have other rewards cards. It is always nice having those low-interest funds readily available to transfer into your checking account (at least that's how it works at my CU)

[Anonymous]

3% card? permanently?

[Anonymous]

Never heard of a 3% APR card..

[xangoboy]

Yeah will be gardening for at least 12 months after this. Im a bit nervous and don't want AA from any of my lenders....especially Barclay's.

@Nixon - it's 3% for the next 6 months. After that it goes to 7.99% for life.

[xangoboy]

@c_mms - yeah its only for 6 Months. However, my Uncle did get into apple fcu before they changed their membership criteria, he got a 5.25% for life CC rate. I thought that was crazy!