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Strategy

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Strategy

Greetings. I have just recently started to learn how to play this credit game and have made strides but I am now trying to be more strategic. In the past 2 years Ive built myself back up from low 500s to hovering around 700. This year Ive paid off 2 big loans, and 2 more are about to get handled. I also have gotten a Cap1 QS1, Discover, and Chase Freedom along with my CU card and a LoC with that CU. For next year I'm looking to refi my car and increase my CL with the CU card. I want to get a good spread of cards and get back in with Amex since I burned them about 15 years ago. My targets are a Discover Miles and Hilton Honors. Should I even try next year for those cards or just do the refi and let everything percolate for a year? I am still wanting to build my score but I hope to do some traveling in the coming years. Plus any other advice would be welcome.
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Super Contributor

Re: Strategy


@JuicySmoolyay wrote:
Greetings. I have just recently started to learn how to play this credit game and have made strides but I am now trying to be more strategic. In the past 2 years Ive built myself back up from low 500s to hovering around 700. This year Ive paid off 2 big loans, and 2 more are about to get handled. I also have gotten a Cap1 QS1, Discover, and Chase Freedom along with my CU card and a LoC with that CU. For next year I'm looking to refi my car and increase my CL with the CU card. I want to get a good spread of cards and get back in with Amex since I burned them about 15 years ago. My targets are a Discover Miles and Hilton Honors. Should I even try next year for those cards or just do the refi and let everything percolate for a year? I am still wanting to build my score but I hope to do some traveling in the coming years. Plus any other advice would be welcome.

The longer you go without new credit applications, the better your scores will be.


Total revolving limits 653000 (575000 reporting)

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Community Leader
Senior Contributor

Re: Strategy

As SouthJamaica said, if you don't need a new card, it's best to hold off on apping.

However, I will say that the Disco is probably pretty attainable and will most likely grow well for you. If you're going to go for one of your goal cards in the near future, I would go with that one.

 

Congrats on your credit building and good luck!

Discover It: 19.7k
Amex ED: 18k
Citi DC: 7.7k
Best Buy Visa: 3k
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Once you go Berner, you never go back.
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