@Anonymous wrote:Don't put the cart before the horse - make sure you get new, better, prime cards before you ditch the subprimes. Just apply every so often until you get a prime card, then you can start to close the subprimes in order of the one you like/use the least every time you get a better a card until you have at least a few primes, when you can ditch the rest of them.
+1
Unless it is an FP rebuilder, there is no valid reason to keep them past 12 months 
@Anonymous wrote:I suppose I can wait but I really want to get another prime (ish) card. I like the Amex Gold but of course its a charge card. I want to try and app for Blue but don't really want to take a risk with the only prime card I have. I also am leary of getting an inquirey without actually getting the card. I am hoping for a card with a limit around $3000 that will grow. My plan was to try for CLI on the Household and BS Discover card and see what happens after 6 months. If they do nothing I'll threaten to cancel. I plan on keeping the oldest which is Capital One. I also like the Kohls card and Mobil card so they'll stick around.
Its funny before I couldn't see any redeeming value in a credit card because I pay as I go and put away money. Now everything I buy goes through a credit card. I keep thinking about all the rewards I missed out on.
Keep doing what your doing, only time will yeild the results your looking for. I wouldn't be looking at the Amex Blue cards yet, unfortunately with your current scores, it most likely would be a denial IMHO.
@Anonymous wrote:
Its funny before I couldn't see any redeeming value in a credit card because I pay as I go and put away money. Now everything I buy goes through a credit card. I keep thinking about all the rewards I missed out on.
Wiser words could not be said in this regard, I was the same way up until about 9 months ago, now I'll use a certain card for certain purchases because of the rewards that card offers for that type of purchase, like my AmEx BCP, 6% groceries and 3% gas (gas now with my Discover because its 5% right now) and etc........
I've got some good cashback I've earned, between my BoA, AmEx's and Discover alone I have over 300 bucks (and that's just from the past 4 months) just sitting there accumulating every month as I use and pay the card. My plan is to not touch any of my cashback until Dec of this year and that will be my Christmas shopping money
Gotta love taking money from the CCC's
@Anonymous wrote:I suppose I can wait but I really want to get another prime (ish) card. I like the Amex Gold but of course its a charge card. I want to try and app for Blue but don't really want to take a risk with the only prime card I have. I also am leary of getting an inquirey without actually getting the card. I am hoping for a card with a limit around $3000 that will grow. My plan was to try for CLI on the Household and BS Discover card and see what happens after 6 months. If they do nothing I'll threaten to cancel. I plan on keeping the oldest which is Capital One. I also like the Kohls card and Mobil card so they'll stick around.
Its funny before I couldn't see any redeeming value in a credit card because I pay as I go and put away money. Now everything I buy goes through a credit card. I keep thinking about all the rewards I missed out on.
Your probably not going to be looked at for a prime card $3k range until you aquire some good history with the current cards. Patience, it is hard to have but it pays bigtime down the road!
@Anonymous wrote:Hmm so how long should I wait? What about hitting up HSBC and Household for some CLI. I've had those cards for about 6 months or more. $300 credit limit is just silly. I actually don't even carry that card anymore because once I fill up my truck with it a couple times its all used up until I pay it down.
Get at least a year with all new TL's and in the meantime make sure your overall util % between 1-9% and try for some CLI's. Applying for new credit is only going to hurt your already young AAoA.
@Anonymous wrote:So I started out in May/June of 2011 with...
1. CapitalOne Credit Steps $500 - CLI to $750
2. Household $300
3. Discover through HSBC $400
4. Mobil Gas card through Citi went from $300 -CLI to $1200
5. Kohls card at $300
I kept everything paid off and got a 680-700
1. American Express Gold Premier Rewards Charge card
2. Paypal GEMB not the card but the line of credit because I was denied for the mastercard at $800 (never used)
Then it seemed like my credit score dove because I used the Amex to the 650 range because of apps and usage even though it was paid off.
I want to start ditching subprime before AF comes up so how do I get there from here? Keep in mind everything is PIF- on time. A little advice is needed I suppose. I can't seem to get to the next level. I'm not buying a house or car for the next 5 years btw.
While rebuilding, I think it's wise to keep the current cards for at least 2 years even if they have an AF. I kept mine for 4 years (still have two of them) but it helped with the positive history.
@LS2982 wrote:
@Anonymous wrote:Hmm so how long should I wait? What about hitting up HSBC and Household for some CLI. I've had those cards for about 6 months or more. $300 credit limit is just silly. I actually don't even carry that card anymore because once I fill up my truck with it a couple times its all used up until I pay it down.
Get at least a year with all new TL's and in the meantime make sure your overall util % between 1-9% and try for some CLI's. Applying for new credit is only going to hurt your already young AAoA.
+1. Getting more inq's right now and shortening your AAoA is not a good idea. Patience, and you will be rewarded (literally). Remember that any mistake at this point will get you further away from primeland. One does not stand still in the credit game -- it's either forward or backward...
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