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@ohlala wrote:
This is where I am currently:
TU- 682 per Walmart fico,
EQ- 688 per my fico.
Income- over 50k
Current credit: bofa - $2200 current balance $0....Walmart store card-$2500 current balance $400....khols $400 current balance $0 AU on my husbands cards: bofa-$4000 current balance $900....Amex $2000 current balance $1200.... Zales $5000 current balance $200.
I just got the upgrade offer from Walmart. Should I bite? I don't currently have a discover card, but a part of me thinks I have enough for now yet another part feels it's just a cancel/replace. I'm aware of the AoAA hit, but I plan on visiting the garden until the end of the year.
Part 2 of my question, I have a car loan currently at 11% with a balance of 15k and I was hoping to try DCU for a refi since I'm finally eligible for their 1.9%. Should I try DCU before making any decisions with the Walmart upgrade to avoid possibly lowering my score or would the AoAA hit really not impact my scores much? Please advise and thanks in advance.
I'm not sure how to answer your question about Discover/Walmart, but it seems like if you add it, you'll have two cards you can use anywhere rather than one card and 2 store cards.
Also, are your husband's cards going to carry a balance for long? Are his accounts significantly older than yours, thus helping your AAoA? I ask because he currently has balances on every card you are an AU on, which might be hurting your score. Also, of those cards with balances, he has UTL showing as: 23%, 60%, and 4% (this last one isn't so bad). I'm not sure that his accounts are helping you at this point, and maybe an expert can chime in but it seems to me that you might want to get those off your credit report, and off his accounts as an AU if those cards are going to continue to carry balances.
I agree with fancy about your AU cards. In my opinion get the refinance and get the upgrade after. The Walmart Discover upgrade is easy to explain in future credit card applications. The benefits of having a card that can be used anywhere with such a thin credit file out ways the score drop if any of a new TL. Good Luck what ever you decide.
@coldnmn wrote:I agree with fancy about your AU cards. In my opinion get the refinance and get the upgrade after. The Walmart Discover upgrade is easy to explain in future credit card applications. The benefits of having a card that can be used anywhere with such a thin credit file out ways the score drop if any of a new TL. Good Luck what ever you decide.
+1 Agree. Also to note, the Walmart Discover opens a new CL as it's a different card I believe. It's better to get the refi first as it's more important factor in this card.
Apply to refi the car right now
then go and click to accept upgrade offer.
@Creditaddict wrote:Apply to refi the car right now
then go and click to accept upgrade offer.
+1
The upgrade takes about 60 days to complete and report. You should have plenty of time to have the refi completed with DCU.
I have read elsewhere that the new Walmart Discover will have the same open date as the old card. This could actually help AAoA since you have one open and one closed with the same date. You could search for more info to verify.
@Chris679 wrote:I have read elsewhere that the new Walmart Discover will have the same open date as the old card. This could actually help AAoA since you have one open and one closed with the same date. You could search for more info to verify.
It does not have the same open date. It will report as a new TL with a new date.