What's the best move? Apply for PSECU?

[Anonymous]

Hi,

Below are my scores from this site:

EQ- 708

TU- 709

AAoA- 8 years

Oldest Account- 19 years

My goal is to purchase a new home within 1-2 years and have a CC with a higher CL.  So I'd like to increase the CL on my current cards and I'm wondering if I should also apply for another one through PSECU.  I currently have 2 card (Orchard and HSBC) with a $300 limit.  I called recently to increase the limit but they wouldn't do that without a pull and they wouldn't confirm if it's hard or soft (I plan to call back later and give it another shot).  I've had my secured Orchard card since 12/2004 and the current balance is $27. I've had my HSBC since 6/2008 with a current balance of $45.  I am listed as an AU on my parents Citi card however there is a high revolving balance on it. 

I pulled my CR's and it showed only 1 baddied on EX with a status to be removed in Feb 2010, so it should be soon.

I'm trying to figure out the best plan of action, any input is greatly appreciated.

[hemi961]

I'm not an expert on this but I will give you my opinion.  The cards you currently have may give you increases as some on here have reported, but it will be an uphill battle to ever get them very high.  PSECU gives very good credit limits and if you are elligible to join I would recommend them as I am a member and have had a great experience.  A couple of things to consider.  Try to keep balances from reporting on your Orchard and HSBC cards since you have no control on the reporting of the AU account that you are on.  As it stands now all of your accounts are showing balances and you don't want more than half to do so. Once the baddie falls off I would get my reports to the point that only one balance is showing (the one on the AU card) and then apply with PSECU prior to requesting the increase on the HSBC cards since they may pull a hard inquiry and even if successful the increase would probably not be very high.  

[BungalowMo]

If I were you, I'd join PSECU & open at least a savings if not checking too.  Keep tossing cash in the savings....as much as you can.  Give this til Summer.  By this time, the baddie will be long gone.  Maybe about May, if the AU card still has a huge balance...get your name dropped off!  That balance will kill your scores and your chances for the psecu CC.. (the main reason to be added as an AU is to get some good, clean history.  A maxed cc is not good)

Once you have a nice saving history with the CU & no baddies...then app for the cc.  It's all strategy.  Set yourself up to WIN, not fail.

Also....don't app for anything until you clean house & app for that card.  They will like seeing $$ in their/your acct, a clean report & no recent apps.

[Anonymous]

OK.  Thanks for the advice.  I'll pay off the other cards and open a savings account. 

Thanks.

[Kiwill]

Thats great advice BungalowMo!!  That's what I did with NFCU.  Every two weeks I throw them about $30-50 with the most going in my savings account to earn interest and the least in the checking account.  By the time I app in December, I would have planted about $500 worth of seeds with them!!! I want to form a long & positive relationship with them before asking for a cc with a 20-30K limit.