Credit limit increase or another card and transfer limits?

For just about anything you want to get off your chest about credit cards.
paparoach429
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Postby paparoach429 » Sun Nov 04, 2012 8:49 pm

Were your credit increases automatic though or did you have to call for recon? I called back after 30 mins when they told me to and it said my credit has been raised from $1800 to $4,000! The first time I talked to the lady though she said 99% of the time on a recon there is a credit pull involved. Anyhow, I'm more than happy with my credit increase so even if it was a hard hit im guessing it was well worth it! :)


cashback
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Postby cashback » Sun Nov 04, 2012 10:22 pm

paparoach429 wrote:Were your credit increases automatic though or did you have to call for recon? I called back after 30 mins when they told me to and it said my credit has been raised from $1800 to $4,000! The first time I talked to the lady though she said 99% of the time on a recon there is a credit pull involved. Anyhow, I'm more than happy with my credit increase so even if it was a hard hit im guessing it was well worth it! :)


Congrats! Im almost positive it was a soft pull.
Credit Cards
Amex BCE 25K ---- PenFed Platinum Rewards 15.5K --- US Bank Cash+ 12K --- Discover IT 6K --- Citi Dividend 5K --- Chase Freedom 12.5K --- Amex SPG 6K --- Citi Thank You Preferred 15K

Not Used
Citi Simplicity - 5K, Sam's Club Discover - 10K

Future Cards
Sallie Mae World Mastercard

FICOs
Exp 772 - TU 781 - Equ 781

paparoach429
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Postby paparoach429 » Sun Nov 04, 2012 10:37 pm

How can I tell asap? Its not showing on CreditKarma yet.. If it was a soft pull that is awesome! But even if it was a hard pull wouldnt it benefit me anyways since my utilization went from 40 something percent to now 19.5%? So the 4-5 point deduction for the hard pull but wouldnt I gain more than that by significantly dropping my utilization?

cashback
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Postby cashback » Sun Nov 04, 2012 10:49 pm

paparoach429 wrote:How can I tell asap? Its not showing on CreditKarma yet.. If it was a soft pull that is awesome! But even if it was a hard pull wouldnt it benefit me anyways since my utilization went from 40 something percent to now 19.5%? So the 4-5 point deduction for the hard pull but wouldnt I gain more than that by significantly dropping my utilization?


Credit scores aren't an exact science. From my experience, all i can say is don't be scared of credit inquires, hard or soft. Like I said earlier in this thread, my Experian shows 8 hard inquiries on my report and my score is still 772. The biggest factors to your score are timely payments and age of credit.
Credit Cards
Amex BCE 25K ---- PenFed Platinum Rewards 15.5K --- US Bank Cash+ 12K --- Discover IT 6K --- Citi Dividend 5K --- Chase Freedom 12.5K --- Amex SPG 6K --- Citi Thank You Preferred 15K

Not Used
Citi Simplicity - 5K, Sam's Club Discover - 10K

Future Cards
Sallie Mae World Mastercard

FICOs
Exp 772 - TU 781 - Equ 781

paparoach429
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Postby paparoach429 » Sun Nov 04, 2012 10:57 pm

Only missed one payment on one of my cards ever. Im guessing my credit scrore will go up by time will tell. I wanted an increase on my Forward card rather than another card since I love my Forward card so much. Im sure theres other cards out there with equal quality. (no annual fee, low interest, decent credit limits, good rewards), but what are they? Obviously only mention cards I would probably qualify for in the next 6 months. Not only excited about my Citi credit increase my my upgrade on this site from gold to platinum! lol

Daniel
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Postby Daniel » Mon Nov 05, 2012 3:52 pm

paparoach429 wrote:Only missed one payment on one of my cards ever. Im guessing my credit scrore will go up by time will tell. I wanted an increase on my Forward card rather than another card since I love my Forward card so much. Im sure theres other cards out there with equal quality. (no annual fee, low interest, decent credit limits, good rewards), but what are they? Obviously only mention cards I would probably qualify for in the next 6 months. Not only excited about my Citi credit increase my my upgrade on this site from gold to platinum! lol


The hard inquiry should not show up until the bank reports to the credit bureaus next. Most likely it will be early in the second half of the month, but varies from bank to bank. Banks, just like other large organizations, have a tendency to be slow moving. Regarding other cards, the BCE/BCP can be good rewards cards to compliment others as stand alone grocery stores are always 3/6%. Depending on your spending levels the no annual fee or the annual fee version may be better.

What do you guys think about a Barclays Ring Card? A couple friends of mine just applied for this recently, but haven't heard from many ppl that have had the card for a while. Anyone like/dislike that card?

paparoach429
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Postby paparoach429 » Tue Nov 06, 2012 2:08 am

I dont spend much money on groceries. I live at home and me and my girlfriend usually go out to eat. Other than spending money on clothes and such, majority of my money goes to bills, gas, and food. Also, "bce/bcp" is Amex correct? Whats the deal with the Amex "clear"? Looks like a cool card but I never hear anybody mention it. Are the rewards better on the bce/bcp compared to the Citi Forward? If so, how?

Daniel
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Postby Daniel » Tue Nov 06, 2012 11:08 am

paparoach429 wrote:I dont spend much money on groceries. I live at home and me and my girlfriend usually go out to eat. Other than spending money on clothes and such, majority of my money goes to bills, gas, and food. Also, "bce/bcp" is Amex correct? Whats the deal with the Amex "clear"? Looks like a cool card but I never hear anybody mention it. Are the rewards better on the bce/bcp compared to the Citi Forward? If so, how?


Don't know off the top of my head, I am going to do some research and report back.

Regarding the Citi Forward, I am going to back away further and make it a more general comparison based on my personal opinion, so this is in no way representative of anyone else's opinion. In general I personally prefer Cash Back cards vs rewards cards because they always redeem at the same value, cash is cash. The rewards cards can be tricky if one doesn't pay attention to exchange rates for points to rewards. From what I have heard and read, it seems that within the possible rewards for a rewards card, there are items that return more per point than others, and as such require more management regarding which rewards to take than I like. For some people, I imagine rewards cards being very good options.

Now regarding the Citi Forward, I would not be an expert on their rewards, but my friends really like it for the student loan rebates. Does anyone have a rewards schedule to use as an example?

paparoach429
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Postby paparoach429 » Sun Nov 11, 2012 1:43 am

I kind of like the rewards better. I save them up all year long and then fly to Florida or Vegas with them. But what I mean as far as the rewards go, on average a flight to Florida is like 25,000 points. So for example thats like $5,000 in restaurants spent or $25,000 spent in regular purchases. Is there a better card out there that for example a flight to Florida is 20,000 points and the points are easier to accumulate? Also, anybody out there with the Amex Clear!?

paparoach429
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Postby paparoach429 » Thu Nov 15, 2012 10:44 pm

Another question I have on the same topic: As of today my credit limit on my Citi Forward is $890/$4000. I recently started working ALOT more hours and Im going to be able to pay it almost completely off next friday. My problem is, I dont know if it would be smart to do so. I asked for a credit increase on this card because ideally a higher credit limit is always better, and it lowered my utilization alot. I dont want them to think "what the hell, this guy asked for a credit increase to 4k and now payed the card off, lets cut his credit limit back down". Should I always keep like a $400-$500 balance on this card?



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