New Credit card- need advice

Anonymous · ‎11-11-2010

I currenlty have a USAA CC- Bal. $ 9K; CL- $ 15K; opened January 2010

Cap One CC- Bal- $ 0; CL- $ 5k; opened April 2008

Wells LOC- Bal.- $ 2,470; CL-$ 5K; opened December 2009

Orchard- Bal.- $ 0; CL- $ 700; opened 2004.

Util. is about 46%.

Equifax- 763

TU- 745

EXP- 734, lender pull Jan 2010.

On EX I have 5 inquiries but all 5 were for a car loan I applied for in July 2009, so I think that only counts as one, and now its been over a year so I understand it does not count on my score.

EQ- I have two inquiries but both were for a mortgage refi we applied for in Dec 2009, so it should only count as one.

TU- I have 4, two on the car loan and two on the mortgage so I guess its only 2 and both are almost a year old.

I think my AAofA is about four years.

Household income varies due to commission income, but last several years has averaged about $ 120K.

Any thoughts on where I should apply and what type of CL I could expect.

I'm thinking of one of the major banks, BofA, Citibank, Chase.

Any advice would be appreciated.

Thanks,

Anonymous · ‎11-12-2010

A couple of questions popped in my mind.

What's your goal for a new card? High credit line? Low APR? No annual fee?
Are you looking for a rewards card? What kinds of rewards are important to you?
Are you looking for a card that you can carry a balance on, or a card that you're always going to PIF?
Are you only interested in the big banks, or are you open to smaller banks & credit unions?
Are you planning to pay down your utilization on your current cards before you apply?

Okay, that was more than "a couple" of questions, but the answers will give us a little more information to work with for suggestions. And, while you think about it for a bit, don't forget to hop over to the Credit Card Center to peruse for suggestions there, as well.

Anonymous · ‎11-13-2010

You should try USAA for their other card. If you have a MasterCard, apply for their American Express or visa versa. You may also have more than one MC or AMEX with them. They are the BEST. No fee's, awesome rewards that are the most flexible in the market. USAA as a whole is the BEST!!

Anonymous · ‎11-14-2010

A couple of questions popped in my mind.

What's your goal for a new card? High credit line? Low APR? No annual fee? I want a high CL with low interest rate
Are you looking for a rewards card? What kinds of rewards are important to you? Not important
Are you looking for a card that you can carry a balance on, or a card that you're always going to PIF? Hopefully PIF but may need to carry balance
Are you only interested in the big banks, or are you open to smaller banks & credit unions? My thought is that I thought the larger banks are looked at more favorably than the CUs and even USAA. Is that correct? Does if affect scoring?
Are you planning to pay down your utilization on your current cards before you apply? I probably should pay them down some. Do you think I need to before I apply?

Okay, that was more than "a couple" of questions, but the answers will give us a little more information to work with for suggestions. And, while you think about it for a bit, don't forget to hop over to the Credit Card Center to peruse for suggestions there, as well.