@Anonymous wrote:We are closing on our house on Friday. I have been in the garden all year. I have been checking the pre-qualifiers to help me decide on which cards I want to apply for. Chase is the ONLY site I pre-qualify for - Freedom, Slate and Sapphire. I am opted in so it isn't that. I have a QS1, $4.5k limit with Cap One and they don't even have offers for me! Scores are almost 700 EQ and EX, 756 with TU. AAoA is 2 yrs EQ and TU. 4 yrs with EX. NEW credit is 8 mo. INQ is 5- EQ. 3 - TU and EX. Only had one HP for our mortgage loan. The credit prior to getting a cap one card in November was back in 2005. That account closed in 2011 due to lack of usage. Only baddie was a medical collection from 2010 for $150 on EQ and EX. I have never had a late payment. I plan on apping anyway but am concerned that if I can't even pre-qualify, I will have to recon or deal with toy limits.
Which banks like people with new credit? Am I better off waiting a couple more months til our mortgage reports or should I do it before they see that huge debt sitting there?
the only banks who give me one is Capital one.
@Anonymous wrote:Comenity is the only bank that seems to like me. I got a mailer this week pre-approving me for the sportsman guide visa. I get pop ups on every site that is backed by comenity. I already have the total rewards visa, overstock and VS through them.
Unless you shop there mims, skip the store cards. Dead capital tradelines from a personal credit file perspective.
Prequalifiers only can do so much, if you're qualified for Chase at the levels you describe, you're qualified for the majority of typical cards in the industry. Don't worry about pre-qual, close on the house, and get the keys (if you're in a dry funding state there's a delay before the loan is actually finalized) and then apply for cards you actually want based on your spending patterns in terms of rewards.
@Anonymous wrote:Thanks everyone! I plan on apping regardless of the prequalifiers. I was just wondering if they look for something that I need to work on, AAoA, amount of credit etc. I don't want a bunch of junk cards from comenity. I needed them to open a couple cards to get my credit going and they served that purpose. I would rather have a bank card that I can shop anywhere vs being limited to one store.
Rev, as usual, you are making me feel much better about it. I am giving serious consideration to Chase Sapphire. I have a total of 5 accounts. 2 bank, 3 store. All opened in Nov/Dec. NFCU is definitely on the top of the list. I would like a Lowes card or something similar - I need a gas stove and want to build a bigger island in the kitchen. My main thought process is find a couple cards offering no interest for at least 12 months so I can buy what is needed for the home and get it paid off, interest free.
I'm right there with you when it comes to replacing consumable appliances; the Lowes card falls under the "if you shop there" clause in my book, and if you have home renovations / upgrades to do, go for it.
Home Depot / Lowes kinda get a pass on my normal "skip the store card junk" opnion with their financing offers on the things which are probably #3 through even #5+ in terms of major life expenses anyway. I have spend bonuses to meet on my planned CSP post mortgage so will likely go that route as I can cut the check right now; however, if I were having to dump 100K after purchase into any of the SFH homes in the good school district which most need MAJOR updating then those cards would no doubt be on my list.
Definitely get the CSP first..... especially if you're pre-qualified... they are very strict these days about number of cards in the last 2 years.
CC companies definitely want to see usage of cards if they're going to give you one.
NFCU is amazing but they aren't inquiry-sensitive so do that one whenever.
The Cap1 Venture will likely give you a big starting limit.
Those are probably enough for one spree... haha Oh, don't forget Discover. No annual fee and nice 5% categories, so why not? 