Credit Chances.......

[Anonymous]

HI all,

im new here, and dont know the lingo well.  But Im looking at my chances for receiving a 0% introductory card.  Equifax score ranges from 692-699, I pay my cc bills on time but I have a short credit history because I closed my accounts years ago.  I bank through B of A, and received a pre-qualified letter from them for the Bankamericard with zero% for 15 months.  I also scooted over through Citi's Prequalification page, and it says that I am prequalified for the Simplicity card, with 18 months at zero percent.  I think my score will qualify  me, but Im concerned with my short credit history of only about a year or so.   I prefer to generally pay cash for things, so  I only have one credit card with a $600 CL and I keep the utilization low (With the exception of last month when it jumped to 50%, but I pay the card off in full each month, its currently at about 20% utilization.  I have a mortgage as well that was just refinanced last fall, so my previous mortgage doesnt show up in my history because it was paid off.  

Any advice would be appreciated!! I had to have some medical expenses I would like to be able to charge to give me the opportunity to spread the expense out a little.

Thank you in advance for your time!

[Anonymous]

im new here, and dont know the lingo well.  But Im looking at my chances for receiving a 0% introductory card.  Equifax score ranges from 692-699, I pay my cc bills on time but I have a short credit history because I closed my accounts years ago.  I bank through B of A, and received a pre-qualified letter from them for the Bankamericard with zero% for 15 months.  I also scooted over through Citi's Prequalification page, and it says that I am prequalified for the Simplicity card, with 18 months at zero percent.  I think my score will qualify  me, but Im concerned with my short credit history of only about a year or so.   I prefer to generally pay cash for things, so  I only have one credit card with a $600 CL and I keep the utilization low (With the exception of last month when it jumped to 50%, but I pay the card off in full each month, its currently at about 20% utilization.  I have a mortgage as well that was just refinanced last fall, so my previous mortgage doesnt show up in my history because it was paid off.  

Any advice would be appreciated!! I had to have some medical expenses I would like to be able to charge to give me the opportunity to spread the expense out a little.

Thank you in advance for your time!

[WillTeasle]

I would say you're probably safe for approval.  I have no idea what your CL would be, so it may not be enough to cover the expenses you mentioned.  Hopefully someone else will chime in to confirm my guess here.

Also, even closed accounts should still be reported for 10 years, I believe.  I still have some accounts reporting on my CRs that have been closed for 7-8 years I think.  Have you actually pulled your CR?  I would expect to see the pre-refi mortgage still on there.  If it was in good standing, you definitely want that on your report.

[creditFiend]

If you've had your current card at least six mos, ask for a CLI. Your EQ scores look good, what are your other scores like? If you don't have any current baddies (under 2yrs) you should be good. Determine the cards you're interested in, google 'Credit Pulls Database' to find out scores of others approved for same cards. GL!

[Anonymous]

Thanks for the great advice so far.  I read somewhere that you have better luck calling and talking to the banks credit analyst?  Is this something I can or should do before I apply?  Ive also read about going to the branch directly with my credit report. Thoughts?

I havent pulled my experian, but I did pull my TU, which is at 700, great remarks but it does show one negative from two years ago.  

Hoping for atleast a $2,000 (Preferably $3,000) CL.