@Anonymous wrote:Looking for advice on what card(s) to plan for. Current scores are TU 660, EX 645, EQ 645. No negatives, no lates, no collections, no nada, totally clean as of a few days ago. Right now I have the following:
Discover It $1500
Barclay Reward $1000
Walmart $3500
Amazon $3500
Cap 1 QS1 $850
Cap 1 QS1 $500
credit 1 $650 (yes, I know all about them and it is soon to be cancelled)
JCPenney $500
Buy Power $300 (also soon to be chopped)
AU on Wells Fargo $1000.
My AAOA is not good. It's like 1 year. With my oldest card (QS1) being 1.5 years. I paid my mortgage off about 12 years ago and it no longer shows, so I don't get that benefit. So, my file I would say is thinnish at best. Inquiries are 11 for TU, 9 for EX, and 11 for EQ.
my current utilization is at 21% over all. Discove, Barclays and Cap1 QS1 are at 50% but by March 1 will all be around 10-15%. All other cards at $0 currently I've used the score simulator and if I continue paying as planned my 3 scores will be 700-710.
Annual salary $70k.
Now, all that said, I'm curious as to what card(s) I might shoot for come March. I don't travel a lot, maybe a couple of plane tickets from Dallas to Kentucky each year. So, travel cards might not be the thing. We do eat out a lot, so I guess a dining based reward card? My original desire was Chase because I have banked with them for 5-6 years, but I put the kibosh on that by breaking the 5/24 rule. Any thoughts on what might be the best reward card I might have a shot at come March? I have USAA ins because my wife's father was military. I did join Penfed about 5 years ago when I was looking for an auto loan. If I've left any info out, please ask. Sorry, I know this is an ambiguous question with tons of variables. I've already made the apping willy-nilly mistake. I want to get a couple of premiere type cards and build higher credit limits so that I can do away with the store cards etc. I'm probably not the type that's going want 20 cards and rotate them in and out.
If it were me, I would do exactly as you already have planned - work on utilization. Unless something's amiss, it's likely your low AAoA and high utilization is holding your scores back for the moment, and the best thing for that is to hold off on applying for new accounts and work on the ones you already have.
Once your Capital One and Discover cards are paid down significantly, I would hit them both up for CLIs. While some folks report them being 'stingy', others (like myself) have found them to be quite generous; in my own case they've been most generous when my balance with them was low.
Also, to help you out with your utilization (which is probably holding your scores down a bit) I would give Credit Solutions a call to see about getting a CLI on your J.C. Penney. You have much higher limits on your Amazon and Wal-Mart, so getting J.C. Penney increased should be painless. You could also try to get them to raise your limit on your Amazon and Wal-Mart - the worst they can say is 'no', and it's only a SP.
Here are some ideas for when the time is right to go for a few more accounts...
You mention that you are with USAA... I'm with them as well, and they are fantastic with banking. Their credit cards aren't 'bad', but they aren't as flashy as many folks around here are used to. They gave me my first 'big' limit, and I credit them with being my 'prybar' to getting larger limits with other lenders. That being said, they tend to be a bit more conservative, and any CLI request with them is a HP. They do give occasional credit increases (I got one around my year anniversary) but this seems to be hit-and-miss. For reference, my score was around 670 when I was approved by them, and I had 1 inquiry.
Synchrony seems to like you (judging by your current limits on Synchrony accounts) so if you shop at Sam's Club you might consider applying for the Sam's Club MasterCard. It will give you 5% cash back on gas, but more importantly (per your post) will cover your restaurants and travel purchases with 3% cash back. I wouldn't go for it until your credit score is a bit higher, though... most folks suggest waiting until your scores are around 720ish... my own TU was 710 (I was approved for a small initial credit line) so YMMV. If you have (or desire) a relationship with Chase, their AARP Visa card also gives 3% cash back on restaurant charges, and is popular with many folks (there is no age requirement).
Some folks will disagree with me on this next thought (and that's OK) but once your scores get just a little higher you'll likely qualify for Capital One's Venture or Quicksilver, either of which will likely give you a credit line significantly higher than what you currently have. Yes, they do pull all three credit bureaus (as you probably already know) but having a card with a more generous line will help your utilization, and with your income you should have no problem qualifying once your scores are just a little higher. (Some folks will 'cold-app' even if they aren't pre-qualified, and sometimes they get approved, but I would wait for the prequal.)
I hope this helps. Good luck, and keep us posted on your progress! 
