Next card

[olderwiser3]

So I've been approved for $2500 on a Barclay MC.  Curious whether applying for a Cap1 knowing they have low limits would be a bad thing in the long run.  I have no other open CCs and one student loan ~6K.  AAoA is 10+ years over about 10 account with 20+ years of total history.  So AAoA isn't such a concern.  But I do have some baddies on one account from 2.5+ years ago and a thin file due to the single CC.  Curious what folks would recommend for next steps other than the obvious gardening.

[Jutz]

With the Barclays it's going to be the best recommendation to sit back for at least a few months and garden.  I would think about taking a look at a local credit union, or one of popular ones around here (NFCU, DCU) and getting one of their credit cards.  They will be good with CLIs and if it's their standard non-rewards version, will have a good APR.

[olderwiser3]

Yeah, I've been resisting the idea of opening yet another bank account such as DCU, etc.  I already have accounts with three different ones - Citizens and two local.  Neither of the locals offer CCs and Citizens from what I've been reading can be a pretty tough nut to crack.  At least there are local DCU branches in surrounding cities.  So that might be the way to go.  The double pull is a wicked bummer though.

[Jutz]

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@olderwiser3 wrote:

Yeah, I've been resisting the idea of opening yet another bank account such as DCU, etc.  I already have accounts with three different ones - Citizens and two local.  Neither of the locals offer CCs and Citizens from what I've been reading can be a pretty tough nut to crack.  At least there are local DCU branches in surrounding cities.  So that might be the way to go.  The double pull is a wicked bummer though.

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Yeah, the double pull is lame.  I was ok with it because I was applying for an auto loan at the same time.  You can use the same pull for multiple credit products within 30 days.  The nearest branch from me is 30 minutes, but still worth it, especially with the PC deposit.

[olderwiser3]

Thanks for pointing out the PC deposit.  I wasn't aware of that.  Very cool.  I'm going to seriously look into them.  Especially since the one derog account in my report will likely require a recon if I were to go for their CC.  And doing that in person might help.

[Jutz]

You'll probably get approved for their Rewards Visa, at 3k+ without an issue, right off the bat.  In addition, they'll offer to Refi your current auto loan at 1.99%

They use the beacon score, which is exactly the same score MyFICO provides.  640-675 gets 2k standard Visa (Could be more or less depending on profile, but they seemed pretty sure that's how it was) and 5.49% auto, 675+ gets anything over that.