I apologize in advance for this long winded post. Feel free to answer one, all, or none. Current scores: Eq 651 Tu 670 Ex 657 (recently payed 6 cards to zero from high balances, still waiting for 3to report, & received ~3000 in cli, so hoping for a decent increase in scores). I subscribe to Fico 3b & CCT. TLDR: Macys upgrade/cli, Kays inactivity, close Comenitys?, combine two QS?, can i get Ventures Amex Ed or Barclays anytime soon?
STATS: INCOME 51000, AAoA roughly 3yr4mths, Inq range from 2-6, only 2 in last 6mths (lowes, macys hp me for furniture line ), current cards- Cap QS x2, Discover, Walmart, Amazon, Kays, Overstock, Victorias Secret, Macys, Avenue, Lowes. Two student loans (6900, 20400). Only baddie- United Illuminating (electric) multiple 120+lates, balance is now zero, open, so paying monthly bill finally! (was 3,000). They reported 120day lates even though i was in a repayment plan with them, currently moved out of negative accts, and shows green OK for several months.
1) Macys card, $600 limit, furniture 2000. High balance 520. Paid to zero, will barely use as Id rather use my rewards cards in the future. Opened 7 months ago with score ~625. Question- Im always denied a CLI, granted i had high util. When can i expect any cli? And is it worth it to ask to upgrade to Amex? Im thinking no, as it will lower AAoA, and id be better off doing that to get a better real CC that i actually want.
2) Kay Jeweler $3800. highest balance 500. paid to zero. How long can this be inactive for roughly? Im thinking I will just use it 1-2x a year for mothers day or xmas. Is that okay?
3) Avenue and Overstock from SCT (I regret these! lowered my AAoA for nothing. think twice before getting more than one sct card!) Avenue 650 (high bal was 57, paid to zero). Overstock 1150 (high was 490 w/ 0% financing deal, paid to zero). I doubt i will ever use these again. Question: should i just close them? I know it wont affect AAoA for 10years. Or since theyve already done their damage & have no af, am i better off making a small charge every 6 mths to keep open?
4) Have two Cap One QS: 1- upgraded from plat MC to QS, $2000 limit, high balance 1400. Opened 1.5 years ago. Finally learned my lesson to PIF and have been for 2months now, but still chopping down at the old balance. 2- QS Visa $750 limit, high balance ~680 or so, currently $570, wont charge on this until 0bal. One year old. This card I plan to payoff in 4-5 weeks and hopefully transfer the balance to QS MC, if possible. Questions- because it is an original QS Visa, should i not combine, as maybe this card will have better CLI? Plus, it would help to have this card as a $0 balance, instead of one QS with higher balance.
5) short term goals are to get: Venture or Venture One, Amex ED, Barclay rewards & NFL card, and someday if love a chase hyatt! Unless anyone can think of other cards with similar rewards that I may qualify for. I think the Venture will give me a decent limit, as Cap One "seems" to like me, plus It would be a great once a year vacation card for me, esp with the sign on bonus. Amex Ed- groceries. Barclay rewards (utilitys ~ 1000/month so no brainer.) NFL- we go to 2-3 games a year, and spend alot for xmas gifts from NFL shop.
6) Im worried about the recent posts of Cap One maybe tightening up. I want that Venture or VO!, But I know i need to wait for utilization to report for best results.
Please thing twice before opening so many store cards! I regret it so much. I charged for xmas & me for stuff i didnt need. I learned my lesson.
Thank you for your time. Sorry to be one of those long posts I try to contribute so hoping ya'll done mind. Thanks!
(edited to shorten [believe it or not] and eliminate questions no longer relevant)
Mods- didnt know if i should post this in credit cards or general credit. Please move at your discretion. Thank you.
Lots of details, always makes it easier to provide feedback
Amex ED is MR Points, not cash back. That's fine if you want to go that direction, just be clear that's different from cash on the Blue Cash Everyday.
Your NFL purchases seem like that card might be worth looking into. I don't have the card, so don't know how the rest of the rewards work.
For a 16% rate on that low of a balance, I would not think the interest savings is worth the time it takes to try to get a Lending Club loan set up. 22% is not good, to be sure, but if you are on a path to pay it down already, it's a declining balance subject to that 22%, and the 22 continues to motivate you to get it over with.
store cards? Since they are open, and if no AF, I'd not worry at all about them. The store may close them, but no loss if they do. They also may send you some legitimate purchase benefit later, if the card is open, so there's only really potential upside to leaving the card sit.
If you're interested in a Venture, have you checked their pre-qualifier to see if it comes up for you? I was approved for it with multiple lates showing. Maybe wait til your other cards report your updated balances and CLI and see if your scores go up a little before app'ing, but it won't hurt to check the pre-qualifier now. As for closing cards you don't use, I say go for it. They will still report for 10 years and will still help your AAoA until then.