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where to go next - recon? cli? wait?

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Anonymous
Not applicable

where to go next - recon? cli? wait?

I decided over the past few weeks that it has been a while (over 3 years) and I should try getting better cards/more credit so I have a better and more responsible looking history, and so that it doesn't show ~20% utilization month over month on regular purchases, and 40% on a busy month, I pay them all off every month regardless.  I applied for a few that I wanted and a few others all at once, now I'm debating what to do next.  My scores are EQ-733 TU-735 EX-750

 

Results are:

 

Denials

 

5/2017 - applied chase - denied due to ch7 (experian hard pull, I burned them on a lease 8 years ago)
tried to recon, after 3 tries I still got denial for the same reason, they said to try right after the 10 year mark, I stopped there and will wait

 

5/2017 - applied Amex - denied due to previos accounts closed - they were closed with $0 balance during Ch7 (no inquiry)
worth trying to recon? should I wait until 10 years and save the potential hard pull?

 

Approvals - when should I ask for a CLI on each of the 3 or just leave them?

 

5/2017 - applied BofA Travel - Approved $1,000 limit (experian hard pull)

5/2017 - applied Discover It - Approved $12,000 limit (equifax hard pull)

5/2017 - asked Citi to change existing bestbuy to another product (I knew they wouldn't) but suggested to apply for doublecash - approved $3,300 limit (equifax hard pull)

 

Existing Cards

 

Last CLI 11/2014 - BestBuy credit card(now Citi) $1000-$2900 cli (requested $1000 got $1900)
should I ask for a CLI for no other reason than to have more available credit?

 

Last CLI 11/2015 - Barclay rewards card upgrade + cli $2500-$5500 (automatic)
should I ask for a CLI for no other reason than to have more available credit?

 

Last CLI 2/2017 - CapitalOne quicksiler $4500-$5500 cli (automatic)
I'm assuming just leave this one since I was given a CLI recently, I seem to get one after I call every year for a product change, which they never do, this card has a 7.9% rate so I'll never close it, not that it ever carries a balance, but if I ever needed to for some reason it's nice to have it available.

 

my AAoA is 6y4m

 

Ch7 Discharged 1/2009 - this is the only derogatory mark on my report, no missed, no lates, etc.

 

Open Accounts

 

CapOne is 8y4m ($5500 limit - ~$50 monthly balance paid in full)
BestBuy is 7y ($2900 limit - $500-600 monthly balance paid in full)
Barclays is 3y8m ($5500 limit - ~$1000 monthly balance paid in full)

 

Student Loans (Sallie Mae/Navient) 9y9m and 9y7m

Auto Loans (Chase) 3y4m and (Local CU) 3y2m

Mortgage (BofA sold to M&T Bank) 5y10m

7 REPLIES 7
AverageJoesCredit
Legendary Contributor

Re: where to go next - recon? cli? wait?

Ok, you have done very well.

Holy batcakes, Discover wants to be your best friendSmiley Happy. 12k starting, what a way to help your utilization. Remember their cli are sp so wait til month 3 and push button , you may get an auto first so just keep an eye peeled.

Dont worry about Amex, you did better than i you didnt owe with bk so keep checking periodically to see if your off bl. You wont get hp if you are still on. I had to wait the full 10 years to get back inSmiley Wink

Your Citi dc is actually a pretty good sl for Citi, wait for the sp language and you can try every 6 months .

Boa wait for the request credit limit increase link to show up, maybe 3 - 6 months but this will normally be hp but usually well worth it.

Just an observation, with Best Buy since they are normally hp always ask for more than you actually need because you just might get it. Next time ask for 5k .

Great job ill leave the others gor next up but youve done very nice. Enjoy Disco elite status hahaSmiley Happy
Message 2 of 8
austinguy907
Valued Contributor

Re: where to go next - recon? cli? wait?

Good job!!!

 

Having come from the BK lands and having issues with getting approvals with Chase/Amex/Disco/(insert big bank name) I can say you'll drive yourself crazy trying to get an approval out of them until the BK ages off.  

 

I concentrated on CU accounts for several years since they were willing to work with me and between 4 CU's ended up with 17K/ea @ 3 of them and 29K at one of the other ones.  Having those bigger lines helped cushion things as time went by and spend on incidentals like a new HVAC for $4500 didn't hardly put a ding in my scores with that 29K limit.  

 

I would just keep working on those CLI's and keep growing those limits.  Once everything drops off the doors will swing open with a ~100+ point boost and you'll be primed to get whatever you want from the big banks. 

Message 3 of 8
Anonymous
Not applicable

Re: where to go next - recon? cli? wait?

Thanks AverageJoesCredit!

 

I was shocked too, $12k is my highest by far, and it was an instant approval no less!  I'll keep them on the 91 day plan and just keep going, that alone nearly doubled my available credit!

 

I have a feeling I'm on the 10 year plan with Amex and Chase....oh well, 1 year and 9 months to go.

 

I'm not sure if my history with them and the BestBuy card had anything to do with the limit they gave me or not, but I'll take it even if I don't need it, and will keep on the softpull increases.

 

The BofA card I plan on getting my bonus and waiting out until the button shows up and then requesting an increase, the BestBuy if it is a hard pull I'll skip it...I rarely use it anymore, I just have a $10/monthly recurring charge go to it at this point so they don't close it, and if I go to BestBuy I'll use it.

 

Thanks again for the kind words!

Message 4 of 8
Anonymous
Not applicable

Re: where to go next - recon? cli? wait?


@AverageJoesCredit wrote:
Ok, you have done very well.

Holy batcakes, Discover wants to be your best friendSmiley Happy. 12k starting, what a way to help your utilization. Remember their cli are sp so wait til month 3 and push button , you may get an auto first so just keep an eye peeled.

Dont worry about Amex, you did better than i you didnt owe with bk so keep checking periodically to see if your off bl. You wont get hp if you are still on. I had to wait the full 10 years to get back inSmiley Wink

Your Citi dc is actually a pretty good sl for Citi, wait for the sp language and you can try every 6 months .

Boa wait for the request credit limit increase link to show up, maybe 3 - 6 months but this will normally be hp but usually well worth it.

Just an observation, with Best Buy since they are normally hp always ask for more than you actually need because you just might get it. Next time ask for 5k .

Great job ill leave the others gor next up but youve done very nice. Enjoy Disco elite status hahaSmiley Happy

+1

Message 5 of 8
Anonymous
Not applicable

Re: where to go next - recon? cli? wait?

Thanks austinguy907!

 

The big banks are the ones that I want and are making me want to pull my hair out!  I've got BofA and Discover, 2 more years and hopefully Chase and Amex will be back on the list!

 

I actually tried AGAIN (this is the 5th time over 3 or 4 years since I got upgraded to the the QS card) with CapitalOne and they were able to move me to the VentureOne card and keep my same terms and conditions (fixed 7.9%) and ditch the annual fee finally!  

 

I hadn't until recently thought about trying to get higher limits or worrying about utilization, I would just use the cards to accumulate points and avoid spending my own money for work expenses, since I can get reimbursed on a regular basis and pay no interest, then I realized that I paid for a conference, flight and hotel and it brought my utilization over 70% (where it's normally 20% or less, occasionaly higher but always less than 50%) and my score dropped 20 or 30 points that maybe it was time to increase my available credit, so when I put 5-6k on a card it's a drop in the bucket compared to now.

 

Thanks and I can't wait to see it go up even higher!  Unfortunately, right around that time one of my student loans will be PIF early and if history repeats itself I'll take a hit again when that happens, oh well, I'll take the hit and have ~150/mo more to pay down on my other student loan

 

Message 6 of 8
austinguy907
Valued Contributor

Re: where to go next - recon? cli? wait?

Debt free / less payments vs more points..... hmmm..... 

 

I opt for less payments over points Smiley Happy   It feels better than seeing a high score.

Message 7 of 8
Anonymous
Not applicable

Re: where to go next - recon? cli? wait?

Well, I know I'm replying to my 2 week old thread, I got an offer from Fidelity for their Signature Visa rewards card, it's 2% back on everything and can go direct to investment accounts, my 403b(lke a 401 but for non-profits) and my sons 529 college plan are with Fidelity, card is a no annual fee, interest rate was surprisingly somewhere around 10%, $100 in rewards for $500 spent in the first 90 days, figured it wouldn't hurt to see if we can get the free money at the very least, to my surprise, they beat discover...instant approval for $25k! puts my total available over $50k!

Message 8 of 8
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