Let's fast forward 6 months to 1 year

For just about anything you want to get off your chest about credit cards.
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marlonbishop
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Let's fast forward 6 months to 1 year

Postby marlonbishop » Thu Aug 21, 2014 9:04 am

With the credit cards i have so far and their respective limits. around 6 months to a year. is it better to apply for a new CC or a CLI.
BoA Cash Rewards $4000
Macy's $1000
Discover it $5000
Chase Sapphire Preferred $5000
Chase Freedom $2000
Amex Green NPSL
Amex Gold Premier Rewards NPSL

Find me on MyFico: Sapingo (if you see me say hello)!


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djrez4
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Postby djrez4 » Thu Aug 21, 2014 9:46 am

Not enough info -

1) age of current cards?
2) utilization?
3) your goal?
[RIGHT][size=100]- Sapphire Preferred - Freedom - Ink - Platinum - Everyday Preferred -[/size]
[/RIGHT]

Bama87
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Postby Bama87 » Thu Aug 21, 2014 10:29 am

djrez4 wrote:Not enough info -

1) your goal?


Fixed for you

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onion
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Postby onion » Thu Aug 21, 2014 10:42 am

6 months and 1 year is very different. At 6 months I couldn't get approved for anything, at 1 year I got approved for a Platinum. What is your AAoA?

In general, a new CC is better when you're just getting started.
FICO TU - 728 - 8/14
FICO EX - 716 - 7/14
FICO EQ - 740 - 7/14

Bank of America Cash Rewards - $2,400
Best Buy - $3,000
American Express Blue Cash Everyday - $8,000
American Express Everyday - $10,000
Discover It Chrome - $500 (AU on fiancée's card, helping her build credit)
American Express Platinum - NPSL
Barclaycard Arrival+ - $3,000
Capital One Yamacard - $11,000

popamode72
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Postby popamode72 » Thu Aug 21, 2014 10:50 am

I'm with Onion on this one. Having a year or nearly a year of credit history on at least one card can really make quite a difference as well as having a decent AAoA. At 6 months of credit history, I was still getting lower toy limit cards like my student Discover It card.

With Chase, I had gotten denied for stuff mainly for that reason as well as too many inquiries, new accounts, etc, but now that my Citi card nearly has a year of positive history and my CapOne card is nearly 6 months old, that and being able to get a good customer service rep to talk to really made quite a difference.
Macy's TLs (21k), Lowes (17k), CSP (10k), Sam's Club (10k), Nordstrom (5k), AARP (4.2k), Freedom (3k), Discover (1.5k), Quicksilver (2k), BoA (3k), Barclaycard Arrival (2.5k), Amazon Store (6k), Paypal (4.9k), Sam's Club MC (3.6k), Walmart MC (1.2k)

marlonbishop
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Postby marlonbishop » Thu Aug 21, 2014 11:09 am

djrez4 wrote:Not enough info -

1) age of current cards?
2) utilization?
3) your goal?


my AAoA according to credit karma is 1 Yr 7 Mos which i take it with a grain of salt, because when i go to my fico my Eq says 3 years EX says 2 years and TU says 3 as well. my utilization will be roughly around 30% and my goal is too increase my credit score across the 3 agencies.
BoA Cash Rewards $4000

Macy's $1000

Discover it $5000

Chase Sapphire Preferred $5000

Chase Freedom $2000

Amex Green NPSL

Amex Gold Premier Rewards NPSL



Find me on MyFico: Sapingo (if you see me say hello)!

marlonbishop
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Postby marlonbishop » Thu Aug 21, 2014 11:14 am

popamode72 wrote:I'm with Onion on this one. Having a year or nearly a year of credit history on at least one card can really make quite a difference as well as having a decent AAoA. At 6 months of credit history, I was still getting lower toy limit cards like my student Discover It card.

With Chase, I had gotten denied for stuff mainly for that reason as well as too many inquiries, new accounts, etc, but now that my Citi card nearly has a year of positive history and my CapOne card is nearly 6 months old, that and being able to get a good customer service rep to talk to really made quite a difference.


I think for the credit cards i have so far are good enough. with respect to their limits. my lowest is my BoA because I've kept a very hight utilization. until i started learning about credit now it down to 20 and soon to 0 utilization.
BoA Cash Rewards $4000

Macy's $1000

Discover it $5000

Chase Sapphire Preferred $5000

Chase Freedom $2000

Amex Green NPSL

Amex Gold Premier Rewards NPSL



Find me on MyFico: Sapingo (if you see me say hello)!

popamode72
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Postby popamode72 » Thu Aug 21, 2014 12:24 pm

Yeah as I said in another thread you seem to have some really nice cards already. The Freedom was one I had wanted for a very long time that I'm going to try to go for once Chase gets more comfortable with me and my spending habits.
Macy's TLs (21k), Lowes (17k), CSP (10k), Sam's Club (10k), Nordstrom (5k), AARP (4.2k), Freedom (3k), Discover (1.5k), Quicksilver (2k), BoA (3k), Barclaycard Arrival (2.5k), Amazon Store (6k), Paypal (4.9k), Sam's Club MC (3.6k), Walmart MC (1.2k)

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nismoZtuner
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Postby nismoZtuner » Thu Aug 21, 2014 1:07 pm

My first credit card which was a BOA cash rewards- the limit i had with that card kept bugging me ($600) I decided to ask for an increase i had to take a hard pull for a credit increase which i now regret since i want to close down the card/ still another year to go with that inquiry- for now i think a new card is better.. I`m not asking for CLIs anymore if i get an auto increase well that's nice but I`m not asking for increases if I`m getting hard pull..
TU 752 (+4) - [5/9/2014] CK 726 - [11/24/14] EX 725 - [11/20/14] EQ 710
BankofAmerica Cash Rewards [2k] I American Express Blue Cash Everyday [3K] l Discover IT[2.5]
American Express Premier Rewards Gold [NPSL] I Marriott Rewards Premier [5k]
Chase Sapphire Preferred[7.3]
Inquires: TU(?) EX(?) EQ(?)
TCL-$19,800
Age-22

marlonbishop
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Postby marlonbishop » Thu Aug 21, 2014 1:43 pm

nismoZtuner wrote:My first credit card which was a BOA cash rewards- the limit i had with that card kept bugging me ($600) I decided to ask for an increase i had to take a hard pull for a credit increase which i now regret since i want to close down the card/ still another year to go with that inquiry- for now i think a new card is better.. I`m not asking for CLIs anymore if i get an auto increase well that's nice but I`m not asking for increases if I`m getting hard pull..


thats true for a hard pull its better to get a new benefits on a new credit card.
BoA Cash Rewards $4000

Macy's $1000

Discover it $5000

Chase Sapphire Preferred $5000

Chase Freedom $2000

Amex Green NPSL

Amex Gold Premier Rewards NPSL



Find me on MyFico: Sapingo (if you see me say hello)!



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