Looking for a major CC with a high balance

Anonymous · ‎07-07-2009

My FICOS are 630, 630 and 645. I'm looking to get a major card with a balance of somewhere around $4000-$5000 as I'm going on a honeymoon out of the country in the next couple months. Is what I'm looking for out of the question? Any ideas on where I'd have the best chance for success? Any other information you need from me to answer my question?

Anonymous · ‎07-07-2009

@Anonymous wrote:
My FICOS are 630, 630 and 645. I'm looking to get a major card with a balance of somewhere around $4000-$5000 as I'm going on a honeymoon out of the country in the next couple months. Is what I'm looking for out of the question? Any ideas on where I'd have the best chance for success? Any other information you need from me to answer my question?

It could be. We could help you better if you post some more details of your credit situation.

Anonymous · ‎07-07-2009

Let's see...

$10000 / 60 months auto loan taken out in 5/09 with about $9500 left.
$2500 / 24 months personal loan taken out in 12/09 with about $1900 left.
Orchand Bank MasterCard - $700 CL and carry a 1% balance.
JCPenney store card - $1700 CL and carry a 1% balance.

I do have some charge offs and negative marks on my CR's. No bankruptcy/foreclosure/judgements/etc. The worst mark would be a charge off. I have had late payments but have had no late payments for over a year.

Please let me know if that's not enough and I'll be happy to post more.

Edit was for formatting and added more information.

Message Edited by bigdguy on 07-07-2009 07:10 PM

Message Edited by bigdguy on 07-07-2009 07:12 PM

Anonymous · ‎07-07-2009

Your income is? And do you have any assets, either money in the bank or real estate?

You have a baddie reporting. (The CO - which I am assuming is paid.) If it is paid it is going to be a very large problem. If unpaid it will be a show stopper.

Anonymous · ‎07-07-2009

I make $45,000 / year and approx $8,000 in the bank. I own no real estate. All of my negative marks have been paid off.

On a side note, I'm posting a pretty good financial picture of myself on here!

Anonymous · ‎07-07-2009

You are. Are you leaving anything out? Your scores are crippled and I suspect that is the CO at work. Do you need the CL because you are planning on carrying a balance or just for float during your trip?

Anonymous · ‎07-07-2009

I don't plan to carry a balance on the card. I mainly want it to pay for the trip and then pay it off and also for in the event of an emergency.

Message Edited by bigdguy on 07-07-2009 07:39 PM

FocusOnFICO · ‎07-07-2009

To improve your scores, it may be wise to use some of the cash in the bank to pay down the loans. Other posters have recommended 50% or less balance remaining as helping their scores. Please check other threads for more clarity, though.

Starting Score: TU 766 EQ 788
Current Score: TU 788 EQ 811
Goal Score: TU 800 EQ 800

Take the FICO Fitness Challenge

Anonymous · ‎07-07-2009

@FocusOnFICO wrote:
To improve your scores, it may be wise to use some of the cash in the bank to pay down the loans. Other posters have recommended 50% or less balance remaining as helping their scores. Please check other threads for more clarity, though.

Unless I have it wrong OP states that he is carrying 1% of his CL's in revolving debt.

The rest is installment debt. Best not to touch that,

Underh20 · ‎07-07-2009

@Anonymous wrote:
@FocusOnFICO wrote:
To improve your scores, it may be wise to use some of the cash in the bank to pay down the loans. Other posters have recommended 50% or less balance remaining as helping their scores. Please check other threads for more clarity, though.

Unless I have it wrong OP states that he is carrying 1% of his CL's in revolving debt.

The rest is installment debt. Best not to touch that,

Actually banks like to see low balances in relation to original loan amount on installment debt, too -- especially when credit scores aren't very high.