Is diversity better?

[Anonymous]

I currently have a cap one cash back rewards ($39 AF due in May) with a $2250 CL.  I also have an Ochard ($59 AF due in March) $300 CL .   I run one bill through Orchard every month but rarely use it otherwise.  With such a low CL I don't see the point.  I closed my Continental CC right after I bought my house last year.   I had it for almost 2 years.  My only other cc is a Kohls card ($400 CL)

I currently have  TU - 689 with 5 inq.  EQ - 672 with 7 inq.    I wasnt planning on apping for anything for a year but this orchard bothers me.   I recently got an offer for another Cap 1 card with a $19 AF (waived the first year) and it keeps popping into my head.   I have been curious as to what they would offer me.  If it was over $1500 I'd be happy.   In another year or so I'll apply for a visa or a discover when I don't have any inquiries holding me down.

Is it bad to have 2 cc and have both of them be with the same company?

I feel like I should sit and wait it out. However, patience is NOT a strong trait of mine. 

Thanks!

[RHAL]

I have been getting approved for some great cards with lower scores than you. Do you have a BK or anything? Your scores are not bad at all.

[vish1]

Keeping a orchard with 300 CL with a 59 fee sounds like a bad idea.

I will say you should try for amex zync. If you get pre-qualified, nothing better, else I would still apply. You may also want to look at a chase freedom.

[Anonymous]

I have 2 old paid medical collections on one and a paid repo from 5 years ago on both.   I keep my util to 5% or less.  The only money owed to anyone is for my house and my car.

Things are starting to fall off my reports and my scores have been going up 5 -10 points almost every month the past few months.  I was at 660's for about a year.  I think once the rest of inquiries fall off I will get a nice jump.   The initial inquiries from my house just fell off last month which is probably what pushed me up to 689 from 671 on TU.  

Score watch says that the inquiries and amount of new credit are what is hurting me most (and the lates from 5-6 years ago when I was out of work but they are getting close to falling off too). 

I just didn't want to pay the $59 AF on Orchard if I could get a better deal especially since it's such a small account.  I wasn't ready to go to my bank for a credit card since I am thinking about changing banks.

[Anonymous]

I had tried Chase right after I bought my house in May since I have my car loan through them.  They said that I needed to rebuild more first.   I'm not sure exactly where I am supposed to be ( I was at 660 then with a new house and a car that was a year old) but I thought about trying them or Discover after I lose my inquiries this fall.   My mortgage will be 1.5 years old, maybe 1-2 inquiries, and they will have held my car loan 2+ years.

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vish1 wrote:

Keeping a orchard with 300 CL with a 59 fee sounds like a bad idea.

I will say you should try for amex zync. If you get pre-qualified, nothing better, else I would still apply. You may also want to look at a chase freedom.

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[vish1]

Whether you take another card or not is one story and keeping a 59 AF card with a 300 CL is another.

Why not give the pre qualifier at amex and discover a try. I think chase is not overly inquiry sensitive, I had 10 on my file when I applied for freedom this year (0 in 6 months though).

If you don't get pre-qualified with discover/amex, how bout a local CU?

In anycase, whether you get anything else or not, I will say get rid or orchard.

[RHAL]

I would give an AMEX charge card a try. They are approving many these days. Including me!!

[Anonymous]

I don't know how to quote a previous post.  But there was a line about keeping the Orchard with a $59AF and $300 CL.  How about giving them a call, telling them you're going, and seeing at least if they'll waive the fee for a year?

[haulingthescoreup]

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@Anonymous wrote:

I don't know how to quote a previous post.  But there was a line about keeping the Orchard with a $59AF and $300 CL.  How about giving them a call, telling them you're going, and seeing at least if they'll waive the fee for a year?

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Here's how:

Go to the actual post that you want to reply to (as opposed to the most recent one, for instance) and click "reply". When the box opens up, click the "quote" button, above on the right, and there you are!

The formatting is often odd, and you might need to hit "enter" or "return" before you start your reply, so that the quote will be indented, and your post will be all the way over on the left. Something odd happened a year or so ago during an upgrade of the forums, and it's been wonky ever since.