What would be the next good move to make.
Just approved by Discover!
Have had two Secured Cards for 2.5 years in great standing....
Applied Bank
First Premier
Discover IT ( just approved)
Should I close the Applied and First Premier ?( If so which one/both/ or none )? Should I go on a small App Spree ( If so which cards would be good )?
Discover said my score was 777 with Equifax.
I also have a one other store card with 3000 limit in good standing for two years...
Thank you.
@Norcal5 wrote:What would be the next good move to make.
Just approved by Discover!
Have had two Secured Cards for 2.5 years in great standing....
Applied Bank
First Premier
Discover IT ( just approved)
Should I close the Applied and First Premier ?( If so which one/both/ or none )? Should I go on a small App Spree ( If so which cards would be good )?
Discover said my score was 777 with Equifax.
I also have a one other store card with 3000 limit in good standing for two years...
Thank you.
Does both of your secured cards have AF ? If you are in the 770 range fico score wise I think you probably could get some better cards then secured ones that don't offer any rewards.
As far as what cards would be good, you have to ask your self what do you want out of your credit cards. Cashback, MR points, travel etc ?
I would do the following:
1. Pull all three reports (with scores) to see where you are credit wise...make sure you get FICO (not FAKO) scores. This will give you valuable info like # INQ, AAofA, baddies, etc.
2. If everything looks good, decide what card or cards best fit your lifestyle (cash back; travel rewards; etc.)
3. Make sure your reported UTL is as low as possible. Best to have $0 on all cards, save one reporting a very small balance (<9%).
4. App away!
I would not close your secured cards until you are approved what whichever cards you app for...
@mongstradamus wrote:
@Norcal5 wrote:What would be the next good move to make.
Just approved by Discover!
Have had two Secured Cards for 2.5 years in great standing....
Applied Bank
First Premier
Discover IT ( just approved)
Should I close the Applied and First Premier ?( If so which one/both/ or none )? Should I go on a small App Spree ( If so which cards would be good )?
Discover said my score was 777 with Equifax.
I also have a one other store card with 3000 limit in good standing for two years...
Thank you.
Does both of your secured cards have AF ? If you are in the 770 range fico score wise I think you probably could get some better cards then secured ones that don't offer any rewards.
As far as what cards would be good, you have to ask your self what do you want out of your credit cards. Cashback, MR points, travel etc ?
Yes annual fee on the Preimer around 40 bucks...
Cash back would work since I do not travel much as of now...
@takeshi74 wrote:
@Norcal5 wrote:Should I close the Applied and First Premier ?( If so which one/both/ or none )?
Do you want to keep them? Are you looking to transition to unsecured cards? Give us something to work with. This isn't a one-size-fits-all matter. Some keep such cards. Others drop them as soon as possible. We can't tell you which type you are.
I do not know if I should keep them or not that's why I am asking for your opinion....yes I am transitioning to unsecured cards...
@Norcal5 wrote:Should I go on a small App Spree ( If so which cards would be good )?
You'd have to clarify what you mean by "good". A "good" card for one may not be for the next for various reasons. Give us as much info on what you're looking for. We need you to define the parameters to help narrow down the options out there.
By good I mean "excellent credit" cards obviously not cards that are for people with bad credit.....I am looking for high limits with with generous CLI's for responsible handling of the credit cards and if soft pulls are possible for the increases that would be nice too....
@Norcal5 wrote:Discover said my score was 777 with Equifax.
Good to know but how do all of your reports look? How's your utilization? Inquiries and their age? Your AAoA? It's not just a matter of score. Always keep in mind the factors that are used in determining score as well since some creditors may place additional weight on certain factors when evaluating your application.
My reports all look good I have one charge off on the reports that will drop off next year other then that I have the two secured cards reflecting 2-3 years of no missed payments....then I also have 1 store card with 2 years no lates...and also one AU card no lates with limit of 7k....now I have the discover with 8k limit...I also have a student loan from the past that has been in good standing too with no lates...
Utilization currently is very good less then 10%. AAoA is around 3.5-4 yrs...
http://www.myfico.com/crediteducation/whatsinyourscore.aspx
@Dw4250 wrote:I would do the following:
1. Pull all three reports (with scores) to see where you are credit wise...make sure you get FICO (not FAKO) scores. This will give you valuable info like # INQ, AAofA, baddies, etc.
2. If everything looks good, decide what card or cards best fit your lifestyle (cash back; travel rewards; etc.)
3. Make sure your reported UTL is as low as possible. Best to have $0 on all cards, save one reporting a very small balance (<9%).
4. App away!
I would not close your secured cards until you are approved what whichever cards you app for...
Sounds like fun....I have worked hard to get to this point....but don't want to go crazy.....do you have any recomendations on which cards I should app for?
I just got the Discover IT card....(looked much nicer online
and yeah not able to use it everywhere but I am happy with the CL they gave me....
What kind of CL do you think I can get on the Sallie Mae?
@bigblue7722 wrote:
I would apply for the sallie Mae Mastercard. For gas and supermarket and Amazon. Cap one quicksilver with no af version. And then in June apply for the new sams Mastercard for additional gas, restaurants and all travel expenses like hotels and flights. If your not a sams club member I recommend waiting for the Wal mart Version.
Does anyone think I could qualify for the following cards?
Chased Sapphire Preffered
Citi Prestige
Citi Thank You Preffered
Citi Executive Advantage
US Bank Cash
And also what do you think about Chase Freedom?
Thanks
Should I app away?