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Hi! I would like some suggestions. We are very close to closing on our first home and I'd like to go on an app spree the day of. I didn't realize the impact that having more lines of available credit could have on my score, so I missed the opportunity to app (even if it was for secured cards) 6 months ago when I began rebuilding to qualify for the home. I only have a Home Depot card and a Capital One Qs. I've had both for about 10 years with modest limits. Other than that, I have no other revolving credit. I always PIF (or pretty close) every month.
So, to continue the rebuild before my credit takes another hit for the mortgage reporting, I plan to app for a Barclay Rewards. But that is honestly the only card I have any idea about. Considering my scores in my signature and our income of $147k, any suggestions. This is purely to take advantage of rewards and credit boost since I plan to continue to PIF every month. Not to get a bunch of credit and max it out. I've already learned my lesson there. I want to bump my score to refi my car in 6 months and we will also do a streamlined VA refi on the new house after 6 payments to qualify for lower APR.
So, if this were you and you were going on an app spree, what other cards would you apply for?
TIA!
I have the Barclay's RMC and I was approved earlier this year with a 630 credit score. They pulled transunion when I applied. However, it varies from person to person.
My bankcard TU is 655, so if Barclay's pulls that I should be approved. Yes, I understand that I am not going to be approved for major cards or limits. But I want to get my score up and I need more lines of credit to do that so I will try anyway .
So my original question was, considering my profile, what would you app for? I know my scores are not great yet and I'm working to remedy that so I honestly don't need to hear that they aren't great so don't even try.
Looking for positivity . I know that there are cards out there I would be approved for, so I am looking for those suggestions pretty please .
I would wait until your morgage hit the CR. Could bring the scores up a bit.
I know I want Barclay Rewards. I was also thinking Lowe's since i would use it with the new house and PIF. I was also thinking Target because I shop there a lot but I also have a Red Card debit and it offers the same benefits of 5% off and free shipping so I don't really see the advantage of that.
I no longer travel as much so travel rewards are not really an advantage anymore. I was looking for cards with cash back rewards (without limits if possible) that I could just use to pay the regular things I already pay for like groceries, gas, utilities, etc, but be able to put them on the card and PIF. In order to build my credit profile using funds I already spend and maybe getting a few rewards $ as well.
I am a Platinum Member with American Airlines and Diamond with Hilton so perhaps those types of cards would work as well if only to increase my points but I don't think I would qualify for them right now. I do agree that paying the mortgage on time for 6 months will likely have a very positive effect on my score. Just trying to not leave a bunch of points on the table, and also if I could get free reward $ for doing so, why not try?