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Hello everyone!
I spent the last couple of days pouring over the credit pulls database to identify credit card issuers which meet the following 2 specific criteria:
1. Most likely to use Equifax (EQ) report alone in their credit decisions
2. Have been known to give relatively generous limits, e.g. $10,000 or more provided a clean EQ report (e.g. 750-800 EQ FICO, depending on the model)
So far I have identified 6-7 banks that appear to meet these criteria but there are issues with most of these for me personally:
PenFed - Already have their Visa
USAA - Likely blacklisted me for a very old issue
DCU - Don't like their POI process
Huntigton - Not available online in my state
CITI BestBuy - Appears to often use EQ; however, their limits don't appear to be generous
NFCU - Don't have a way to join; In cany case, was included by mistake since it now uses TransUnion.
Question: Does anyone has any other suggestions for credit card products which generally use EQ in their approval and are known to offer generous limits?
Thanks in advance!!
OP, nice job doing your homework with the credit pulls database for one.
The most important question for me here is why is your #1 goal the limit ($10k+) on the card? It seems you don't care at all what the card is, as you've included a store card in your list of options. Are you planning on using the card you get, or is it just for utilization padding?
Rather than waste your time with a card that you may get no use out of, why not consider a different card that you'd actually use that has the potential for growth? There are tons of cards out there that may not give you a 5-figure SL, but will give you a solid 4-figure SL that could easily be taken to > 5-figures with a CLI in 6 months.
@Anonymous wrote:OP, nice job doing your homework with the credit pulls database for one.
The most important question for me here is why is your #1 goal the limit ($10k+) on the card? It seems you don't care at all what the card is, as you've included a store card in your list of options. Are you planning on using the card you get, or is it just for utilization padding?
Rather than waste your time with a card that you may get no use out of, why not consider a different card that you'd actually use that has the potential for growth? There are tons of cards out there that may not give you a 5-figure SL, but will give you a solid 4-figure SL that could easily be taken to > 5-figures with a CLI in 6 months.
Great points.
I did not think that 6 months is all it could take in some cases so that makes sense. I was concerned about getting stuck with low $2000, etc limits for a couple of years.
In this regard, what are some of the other cards to consider which are more likely to use EQ?
Thanks!
Why are you imposing an Equifax-only restriction on the application review?
@UpperNwGuy wrote:Why are you imposing an Equifax-only restriction on the application review?
Most likely because its his strongest report... Although if OP's score is 750-800 on EQ, I can't imagine it being more than 10-15 points lower than any of the other two... That should still put the OP into the prime category no matter where OP applies.
NFCU MR: $25K | Venture: $21K | Amex ED: $18K | NFCU CR: $18K | Amex BCE: $15K | IT #1: $17.5K | PNC Core: $15K | PPMC: $12K | Wells Fargo: $11K | Savor: 12K | Cap1 QS: $8.5K | Barclays Rewards: $7.75K | IT #2: $7.3K | MLife: $9.5K | Sportsman's Guide: $8.7K | PenFed PR: $5.5K | Elan Plat: $2.3K | TRV: $3.6K | BotW: $3K
Current FICO 8 Scores: EQ: 828| TU: 805 | EX: 814
@Dalmus wrote:
@UpperNwGuy wrote:Why are you imposing an Equifax-only restriction on the application review?
Most likely because its his strongest report... Although if OP's score is 750-800 on EQ, I can't imagine it being more than 10-15 points lower than any of the other two... That should still put the OP into the prime category no matter where OP applies.
I wish it was a 10-15 point difference... . It's 120 and 150 points respectively .
There are two old negative accounts from the same bank which are stubbornly reporting to the other two bureaus. They are scheduled to fall off in about 15 months but in the meantime I was hoping to take advantage of my clean EQ report.
Thanks again!!
@Anonymous wrote:OP, nice job doing your homework with the credit pulls database for one.
The most important question for me here is why is your #1 goal the limit ($10k+) on the card? It seems you don't care at all what the card is, as you've included a store card in your list of options. Are you planning on using the card you get, or is it just for utilization padding?
Rather than waste your time with a card that you may get no use out of, why not consider a different card that you'd actually use that has the potential for growth? There are tons of cards out there that may not give you a 5-figure SL, but will give you a solid 4-figure SL that could easily be taken to > 5-figures with a CLI in 6 months.
The Citi Best Buy card comes in both retail and co-branded Visa versions. I assume that the OP looked at the Visa card.
Rather than overall limits, a reason to look for a high limit is to have a card that can handle large charges. I'm in that boat. I have two cards with limits high enough to handle charges of several thousand dollars. I'd eventually like three. That gives me an additional option to use a card that hasn't already run up a balance for the month, keep individual card utilization in check, maximize a reward, or shoot for the furthest out statement/due date.
@seattlecredit08 wrote:
@Dalmus wrote:
@UpperNwGuy wrote:Why are you imposing an Equifax-only restriction on the application review?
Most likely because its his strongest report... Although if OP's score is 750-800 on EQ, I can't imagine it being more than 10-15 points lower than any of the other two... That should still put the OP into the prime category no matter where OP applies.
I wish it was a 10-15 point difference... . It's 120 and 150 points respectively .
There are two old negative accounts from the same bank which are stubbornly reporting to the other two bureaus. They are scheduled to fall off in about 15 months but in the meantime I was hoping to take advantage of my clean EQ report.
Thanks again!!
Ouch! Well, I certainly see why you only want them looking at one CRA then!
NFCU MR: $25K | Venture: $21K | Amex ED: $18K | NFCU CR: $18K | Amex BCE: $15K | IT #1: $17.5K | PNC Core: $15K | PPMC: $12K | Wells Fargo: $11K | Savor: 12K | Cap1 QS: $8.5K | Barclays Rewards: $7.75K | IT #2: $7.3K | MLife: $9.5K | Sportsman's Guide: $8.7K | PenFed PR: $5.5K | Elan Plat: $2.3K | TRV: $3.6K | BotW: $3K
Current FICO 8 Scores: EQ: 828| TU: 805 | EX: 814