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What's Next?

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Regular Contributor

What's Next?

I have a Navy Federal Credit Union American Express with $5,300 Limit and a Quicksilver one with $1,300 limit, what's next? My most recent opened account is 1 year 4 months old so I've been gardening. 1 hard inquirry in past 12 months (for a CL increase). What should I go for next? I'm a USAA & NFCU member as well.

710 Fico 8

Current Open: NFCU AMEX $6,800 CL | Chase Freedom $3,800 CL | QS1 $1,300 CL | BankAmericard $24,000 CL (AU) | NFCU SSL $3,000 |
FICO 8 EXP, EQ, TU: 675-715 (depending on Utl.) | AAoA 3 Years 3 Months | AoYA 0 Months

Closed: American Honda Finance Installment $16,000 paid satisfactorily | Capital One Secured $700 paid satisfactorily | Wells Fargo credit card $3,000 paid charge off settled less than full amount (badie 2015) | Bank of America credit card $1,000 paid charge off settled less than full amount (badie 2015)
12 REPLIES 12
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Super Contributor

Re: What's Next?

you might list your spend?

Message 2 of 13
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Community Leader
Super Contributor

Re: What's Next?


@CreditSage wrote:

I have a Navy Federal Credit Union American Express with $5,300 Limit and a Quicksilver one with $1,300 limit, what's next? My most recent opened account is 1 year 4 months old so I've been gardening. 1 hard inquirry in past 12 months (for a CL increase). What should I go for next? I'm a USAA & NFCU member as well.

710 Fico 8


My suggestion is to only apply for cards you have an intended purpose for, i.e., cash back, if you travel, if you spend a lot in groceries. And it's absolutely okay not to apply for anything.



DEC 2019: EX 816, TU 820, EQ 810
DEC 2018: EX 777, TU 783, EQ 799

|| NFCU CashRewards $30K || AmX Cash Magnet $30K || Discover IT $24.7K || Macy's $20K || NFCU CLOC $15K || NFCU Platinum $12.5K || AmX ED $11.5K || CitiCostco $7K || CitiDC $6.3K ||
Message 3 of 13
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Community Leader
Mega Contributor

Re: What's Next?

With you having Navy and USAA you have some good options availableSmiley Happy
Message 4 of 13
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Regular Contributor

Re: What's Next?

I think I'd like one luxury travel card and one low interest rate card - both with really high credit limits, if I could pick anything. I can always change my NFCU amex to the platinum card which has a good interest rate. Also, I'm being offered the USAA Amex card with 0% APR for 14 months on balance transfers and spending. 

Current Open: NFCU AMEX $6,800 CL | Chase Freedom $3,800 CL | QS1 $1,300 CL | BankAmericard $24,000 CL (AU) | NFCU SSL $3,000 |
FICO 8 EXP, EQ, TU: 675-715 (depending on Utl.) | AAoA 3 Years 3 Months | AoYA 0 Months

Closed: American Honda Finance Installment $16,000 paid satisfactorily | Capital One Secured $700 paid satisfactorily | Wells Fargo credit card $3,000 paid charge off settled less than full amount (badie 2015) | Bank of America credit card $1,000 paid charge off settled less than full amount (badie 2015)
Message 5 of 13
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Regular Contributor

Re: What's Next?

Looking back at my NFCU Amex, my biggest expenses are:

 

Entertainment 

Travel

Transportaton 

Current Open: NFCU AMEX $6,800 CL | Chase Freedom $3,800 CL | QS1 $1,300 CL | BankAmericard $24,000 CL (AU) | NFCU SSL $3,000 |
FICO 8 EXP, EQ, TU: 675-715 (depending on Utl.) | AAoA 3 Years 3 Months | AoYA 0 Months

Closed: American Honda Finance Installment $16,000 paid satisfactorily | Capital One Secured $700 paid satisfactorily | Wells Fargo credit card $3,000 paid charge off settled less than full amount (badie 2015) | Bank of America credit card $1,000 paid charge off settled less than full amount (badie 2015)
Message 6 of 13
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Community Leader
Senior Contributor

Re: What's Next?

It makes sense to start by looking at USAA. But I think your next card should be a Visa or Mastercard as your QS1 is kind of a wimpy option. If your file is clean and you haven't burned anyone, I would think you have a lot of choices.

 

Speaking of the QS1, do you use it every month? Have you tried to upgrade it to a Quicksilver?

Message 7 of 13
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Regular Contributor

Re: What's Next?

I've heard USAA gives pretty high limits. I've also heard they don't really lower interest rates once you are approved for a given rate. Any experiecne with this? Any particular product of theirs you like?

 

CapitalOne hasn't allowed me to upgrade it or get many CL increases. I could always call in and try again. I just closed my secured card with them so maybe they'll be more open/realize I'm liable to close this one as well.

 

 

Current Open: NFCU AMEX $6,800 CL | Chase Freedom $3,800 CL | QS1 $1,300 CL | BankAmericard $24,000 CL (AU) | NFCU SSL $3,000 |
FICO 8 EXP, EQ, TU: 675-715 (depending on Utl.) | AAoA 3 Years 3 Months | AoYA 0 Months

Closed: American Honda Finance Installment $16,000 paid satisfactorily | Capital One Secured $700 paid satisfactorily | Wells Fargo credit card $3,000 paid charge off settled less than full amount (badie 2015) | Bank of America credit card $1,000 paid charge off settled less than full amount (badie 2015)
Message 8 of 13
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Regular Contributor

Re: What's Next?

Why do you suggest mastercard?

Current Open: NFCU AMEX $6,800 CL | Chase Freedom $3,800 CL | QS1 $1,300 CL | BankAmericard $24,000 CL (AU) | NFCU SSL $3,000 |
FICO 8 EXP, EQ, TU: 675-715 (depending on Utl.) | AAoA 3 Years 3 Months | AoYA 0 Months

Closed: American Honda Finance Installment $16,000 paid satisfactorily | Capital One Secured $700 paid satisfactorily | Wells Fargo credit card $3,000 paid charge off settled less than full amount (badie 2015) | Bank of America credit card $1,000 paid charge off settled less than full amount (badie 2015)
Message 9 of 13
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Community Leader
Senior Contributor

Re: What's Next?

The reason for suggesting Visa or Mastercard at this time is that you already have a card on the AMEX network, and AMEX acceptance is less. If you had a good Visa or Mastercard or two under your belt, the acceptance rate on a new card would be a non-issue.

 

QuicksilverOne cards are hard to upgrade. Your best chance at triggering an offer is to use the card each and every month and to call and check on offers each and every month. I was able to upgrade two QS1s after 12 or 13 consecutive months of usage, and data points here indicate that QS1s that were upgraded were cards that were used. Heavy usage isn't necessary to upgrade. Use the card and make a payment each month. And hope for the best. Smiley Happy

 

Capital One CLIs are another matter. Those generally require heavy usage for three or four months.

Message 10 of 13
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