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Question re AA

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Valued Contributor

Re: Question re AA


@oldman87 wrote:
Laying low doesn't mean you have to tip toe at all times, letting 16% report on a card is fine as long as you PIF by due date, especially after giving them a heads up for the large purchase. Credit cards are there to benefit you so use it, but use it responsibly.

I second that statement as well.  Use common sense with any card and more than likely, things will always work out for you.  I utilized my Chase Sappphire Reserve on a larger than normal purchase for $6,000 (Vacation payment) and exercised the judgement to call them and advise them before doing so.  Simple common courtesy and common sense go a long way with credit... better to avoid a headache before creating one Smiley Happy.  I also agree youll most likely be fine, enjoy the garden time.


Message 11 of 21
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Frequent Contributor

Re: Question re AA

Thank you all!  I am sincerely appreciative, and am sighing a sense of relief.  As I previously mentioned, I am happy with what I currently have.  I’m a woman who’s (very) low maintenance, and have no desire to go out and spend money I don’t have.  I’ll certainly enjoy my gardening!

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Current Score: 784
Goal Score: 800


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Message 12 of 21
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Valued Contributor

Re: Question re AA


@CAS2019 wrote:

Thank you all!  I am sincerely appreciative, and am sighing a sense of relief.  As I previously mentioned, I am happy with what I currently have.  I’m a woman who’s (very) low maintenance, and have no desire to go out and spend money I don’t have.  I’ll certainly enjoy my gardening!


Now now...

It's not just women that go on spending sprees..0000creditcard.gif

 

I'm also a woman and it's my husband that's the shop-a-holic!

Auto part stores, home improvement, heck he spent $50 on two carved plaques outside a Walmart!! "Twas for charity so ok but sheesh! I guess he's never heard of Etsy. LOL

 

Just sayin' aaahighfive.gif




Message 13 of 21
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Re: Question re AA


@Pikaboo-icu wrote:

@CAS2019 wrote:

Thank you all!  I am sincerely appreciative, and am sighing a sense of relief.  As I previously mentioned, I am happy with what I currently have.  I’m a woman who’s (very) low maintenance, and have no desire to go out and spend money I don’t have.  I’ll certainly enjoy my gardening!


Now now...

It's not just women that go on spending sprees..0000creditcard.gif

 

I'm also a woman and it's my husband that's the shop-a-holic!

Auto part stores, home improvement, heck he spent $50 on two carved plaques outside a Walmart!! "Twas for charity so ok but sheesh! I guess he's never heard of Etsy. LOL

 

Just sayin' aaahighfive.gif


Ahahaha!  Yes, you are so right!  I was (at one time) married to one of those...there are benefits to being single!  I’m certainly not critical of anyone who likes to spend (if they have the money).  I’m just a miser!  😉

Starting Score: 784
Current Score: 784
Goal Score: 800


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Message 14 of 21
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Mega Contributor

Re: Question re AA


@Cred4All wrote:


I second that statement as well.  Use common sense with any card and more than likely, things will always work out for you.  I utilized my Chase Sappphire Reserve on a larger than normal purchase for $6,000 (Vacation payment) and exercised the judgement to call them and advise them before doing so.  Simple common courtesy and common sense go a long way with credit... better to avoid a headache before creating one Smiley Happy.  


I personally never call, as I am unconvinced it offers any advantage.  Common sense might say that doing so should reduce fraud alerts, but we've all had those happen on tiny amounts as well....

Message 15 of 21
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Re: Question re AA


@longtimelurker wrote:

@Cred4All wrote:


I second that statement as well.  Use common sense with any card and more than likely, things will always work out for you.  I utilized my Chase Sappphire Reserve on a larger than normal purchase for $6,000 (Vacation payment) and exercised the judgement to call them and advise them before doing so.  Simple common courtesy and common sense go a long way with credit... better to avoid a headache before creating one Smiley Happy.  


I personally never call, as I am unconvinced it offers any advantage.  Common sense might say that doing so should reduce fraud alerts, but we've all had those happen on tiny amounts as well....


Yeah with credit unions it might make a difference but big bank doesn’t care. I called Capital One before making a big purchase one time and it still triggered a denial and I had to call to get them to reactivate my card and run the transaction again. Good thing it was an online transaction because if that happened in the store, I would have been furious. 




Message 16 of 21
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Established Contributor

Re: Question re AA


@Pikaboo-icu wrote:

I'm also a woman and it's my husband that's the shop-a-holic!

Auto part stores, home improvement...

 


I never met him, but he sounds cool.  Smiley LOL Smiley Happy











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Message 17 of 21
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Valued Contributor

Re: Question re AA


@800FICOGoal wrote:

@Pikaboo-icu wrote:

I'm also a woman and it's my husband that's the shop-a-holic!

Auto part stores, home improvement...

 


I never met him, but he sounds cool.  Smiley LOL Smiley Happy


LOL

 

Well tune into Discovery Investigation channel, the show "Deadly Women"  One of these days we'll be in an episode: "Wife kills husband for tanking her credit score"   lol sign & smiley.gif

He actually teased me about this last night. 




Message 18 of 21
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Super Contributor

Re: Question re AA


@CAS2019 wrote:

Hi!  After reading several threads re multiple inquires/cc sprees, I have become concerned with my own actions.  I needed to build my credit in preparation for a mortgage, as I didn’t have any FICO scores.  

 

At the advice of the LO, I applied for a secured Cap1 card for $300 April 2018, and eventually I received a CL increase to $500.  In August I helped purchase a car for my daughter, and was approved for a $5000 car loan (put down a $10,000 down payment).  At the end of August, I applied for a TJ Maxx (Synchony) store card, the CL was $500.  The loan officer I was working with told me I needed to get a higher limit bank card.  I have to admit, I was actually frozen as I was afraid I would be denied.  Mid October, I was on Amazon and got a pop up for their cc.  I went ahead and applied but (at the time) thought I was denied.  Three days later, I had decided I would try for the Chase Freedom card.  Again, I received wording that I thought I was denied, so I called Chase (I do all my banking with them) and asked what I needed to do to become approved.  I explained that I was working with my branch’s LO, and she was guiding me.  I was transferred to another person, she asked me a couple of questions and approved for the Chase Amazon Prime VISA and Chase Freedom—both cards have a CL of $5400 each.  

 

By December, the LO told me I was ready to apply for the loan.  I just closed escrow last Friday.  The car loan was paid off (one of the requirements from u/w to approve the mortgage).  I don’t like the CU the car loan has been with, so, I decided that as soon as the car loan  PIF is posted, I am going to close the account and move my $$ to (and in preparation) opened an account with Navy Fed since there is a branch less than a mile from me.  I did this the day I closed escrow.  The rep at the bank (NFCU) suggested I apply for one of their cards, which I did (it’s their cash back VISA), and was given a $1000 CL.  On Monday (Jan 14), I applied for a Lowe’s store card (Synchrony) as I have many repairs that need to be made (fortunately, all minor issues), and was approved for $2000.  

 

I am now done with applying, and I am concerned that because I have such a short credit history, and many inquiries within 9 mos., it may come back to bite me.  My CL (in the scheme of things) are low, but for me, is perfect.  All of my adult life I have paid in cash anyway, so I’m used to living within my means and don’t plan to change.  I am retired and my annuity is $48000 a year.  Do I have reason to be concerned?  I don’t want any of my limits to be reduced—especially with Chase.  Oh, and I forgot to mention, I pay all of my cards in full and have them all set up for autopay, and utilization averages around 2%.

 

Thanks so so much for any advice!!!


Yes you have reason to be concerned but (a) it's highly unlikely that there would be adverse action in your case, and (b) what difference does it make if you have reason to be concerned or not... what's done is done.

 

Just make sure you stop applying for stuff. It can be addictive.


Total revolving limits 653000 (575000 reporting)

Message 19 of 21
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Frequent Contributor

Re: Question re AA


@SouthJamaica wrote:

@CAS2019 wrote:

Hi!  After reading several threads re multiple inquires/cc sprees, I have become concerned with my own actions.  I needed to build my credit in preparation for a mortgage, as I didn’t have any FICO scores.  

 

At the advice of the LO, I applied for a secured Cap1 card for $300 April 2018, and eventually I received a CL increase to $500.  In August I helped purchase a car for my daughter, and was approved for a $5000 car loan (put down a $10,000 down payment).  At the end of August, I applied for a TJ Maxx (Synchony) store card, the CL was $500.  The loan officer I was working with told me I needed to get a higher limit bank card.  I have to admit, I was actually frozen as I was afraid I would be denied.  Mid October, I was on Amazon and got a pop up for their cc.  I went ahead and applied but (at the time) thought I was denied.  Three days later, I had decided I would try for the Chase Freedom card.  Again, I received wording that I thought I was denied, so I called Chase (I do all my banking with them) and asked what I needed to do to become approved.  I explained that I was working with my branch’s LO, and she was guiding me.  I was transferred to another person, she asked me a couple of questions and approved for the Chase Amazon Prime VISA and Chase Freedom—both cards have a CL of $5400 each.  

 

By December, the LO told me I was ready to apply for the loan.  I just closed escrow last Friday.  The car loan was paid off (one of the requirements from u/w to approve the mortgage).  I don’t like the CU the car loan has been with, so, I decided that as soon as the car loan  PIF is posted, I am going to close the account and move my $$ to (and in preparation) opened an account with Navy Fed since there is a branch less than a mile from me.  I did this the day I closed escrow.  The rep at the bank (NFCU) suggested I apply for one of their cards, which I did (it’s their cash back VISA), and was given a $1000 CL.  On Monday (Jan 14), I applied for a Lowe’s store card (Synchrony) as I have many repairs that need to be made (fortunately, all minor issues), and was approved for $2000.  

 

I am now done with applying, and I am concerned that because I have such a short credit history, and many inquiries within 9 mos., it may come back to bite me.  My CL (in the scheme of things) are low, but for me, is perfect.  All of my adult life I have paid in cash anyway, so I’m used to living within my means and don’t plan to change.  I am retired and my annuity is $48000 a year.  Do I have reason to be concerned?  I don’t want any of my limits to be reduced—especially with Chase.  Oh, and I forgot to mention, I pay all of my cards in full and have them all set up for autopay, and utilization averages around 2%.

 

Thanks so so much for any advice!!!


Yes you have reason to be concerned but (a) it's highly unlikely that there would be adverse action in your case, and (b) what difference does it make if you have reason to be concerned or not... what's done is done.

 

Just make sure you stop applying for stuff. It can be addictive.


Thanks!  Fortunately, I won’t have to worry about that (addiction to cc apps).  With the exception of the TJMaxx card, I only applied for the cards I know I will use and need.  

Starting Score: 784
Current Score: 784
Goal Score: 800


Take the myFICO Fitness Challenge

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Message 20 of 21
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