CapOne CLI Strategy

[Anonymous]

They do. No need to wait. Just ask the EO contact. As for 2nd card, do you want another tl? I wouldn't recommend going for another cap one card right now. Cap one pretty conservative lender. I find they like to be in middle of pack in terms of cl size. So 2nd card unlikely to be super high cl. Wait till new cl reports on cap one and go for another lender if you want another tl. Maybe someone with good cli policies like gemb backed card or Amex.

Personally, I would get the 1.5% rewards added ASAP. Then wait till new cap one cl reports. Then app for Amex bcp. Bcp with its 6-3-1 structure would be good combo with 1.5% cap one card. Assuming you get bcp, cancel all the toy cards with af/fees like credit one. If Merrick has af, cancel too and maybe cancel even if no af as it won't grow with you. After bcp reports, Then call gemb backdoor number to raise Walmart card to whatever they will give you (request 5k). About time Walmart reports new cl, you will be eligible for Amex 61 day 3x cli. Go for 3x on Amex. Once new tl on Amex reports, you can decide on another card or hold off. With Amex cli hopefully getting you over 5k, your options on which cards will be broad.

[BackInTheSaddleAgain]

Hey thanks Cresham. I don't think AmEx is an option for me at this date. As I mentioned in one of my earlier posts, I had a BK in 2007. I've been discharded a little over 6 year now, but from what I've read on this board most of the better cards like AmEx, Chase, Citi, Discover, etc. want to see 7 years post BK. Is this correct?

Also, although I have 5 or 6 years of clean credit... I really only have 18 months of post BK open credit. I did the Dave Ramsey routine 3 or 4 years post BK before I discovered that I wasn't doing my credit any good by not getting new credit. My first post BK credit was CapOne just 18 months ago. My Merrick, CreditOne and Walmart are just turning 12 months old, so I am affraid canceling any of them will lower my post BK average credit history (about 11 months now) and ultimately lower my score. Walmart certainly doesn't like me for whatever reason. They've turned my down like 3 times now on the love button, even though the account is almost a year old and perfect payments history. $400 is a joke. I spend $800 a month on groceries alone!

My youngest card is Barclays and just turning my 3rd statement next week. It's only a $1,300 CL... but I was hoping to get a reasonable increase sometime over the next couple of statements. Maybe ??? THE GOOD NEWS is the recent CapOne CL increase to $3,000 was instant as of 2-3 days ago and coincidentally will cycle and report to the bureaus by this Monday/Tuesday. Maybe that will influence Barclays in their CL decision making soon. 

I really need to gameplan this properly. Some other good news is my most recent with Barclays just turned 90 days. Accordingly, I thought it might be a good time (next week after CapOne CL increase reports) to apply for maybe the PayPal Extras card. Maybe Amazon too. I do business with both frequently so they would be convenient. I already have a corporate credit line of $5,000 with Amazon (6 months old), but I am not sure if that helps me or not being business.

Sorry this is so long, but I would really love and appreciate your input on all this. You too CreditAddict.