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Was this a preapproved offer that you received when you joined Alliant?
Or were you a member for a while and just now applied for the card?
Since you have a thin file but EQ FICO of 802, is that because you are an Authorized User on any cards, or is it all your own long but thin credit history?
A closed credit card account, which is my oldest of 11 and a half years, autrhorized user on another card, a car loan that was started 8 years ago and paid off 3 years ago, and a current open Macys card that is 10 months old.
Loan officer told me it is because I only have one active trade line that is less than a year old. I asked him if I could overpay my visa bill in order to be able spend more on it. I mostly wanted this because I am taking a trip to Ireland this summer. The LO said he would get back to me on the question of being able to overpay my bill.
Does anyone know how often you can get a CLI with Alliant? Its just that with a $500 CL, if I want the best FICO's I cant really utilize more than $50 of that CL.
I would recommend that you keep the card. It will help your thin credit file. You have already suffered the hard pull and to close it now would be a waste. Plus; Alliant will grow with you and after about 6 mo. of on-time payments, you can request a CLI. If you use the card, try to PIF before the statement cuts. I believe this is on the 11th or 24th. I'm not sure when yours will be but a quick call to them and you can find out.
Good luck . . . that's an awsome credit score.
Well the hard pull was for joining the credit union. There was no additional pull for the card. But if I only have a $500 card, which means I can hardly use it...I think the effect of opening the TL will negatively affect me too much compared to any plusses I get. I will drop my average age of accounts to 5 years, plus have the new credit account.
The Bank of America Preapproval tool gives me 3 good offers on cards....anyone know if that tool is accurate or not?
You should be able to PIF multiple times a month and be able to spend more than your credit limit even if they tell you not to overpay.
But $500 is a low, low CL from a CU. I don't know if Alliant will consider CLI at activation but you could try to ask.
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Does anyone believe that PenFed would be more generous in this case?
@Anonymous wrote:I think the effect of opening the TL will negatively affect me too much compared to any plusses I get. I will drop my average age of accounts to 5 years, plus have the new credit account.
The Bank of America Preapproval tool gives me 3 good offers on cards....anyone know if that tool is accurate or not?
I agree with the others. You've already taken the inq, and the account is going to report, you might as well keep it open.
Who knows, maybe if you spend a lot and PIF frequently they might surprise you with a nice CLI.