I need to transition from the lower end cards...

For just about anything you want to get off your chest about credit cards.
24 posts
KimNY
Green Member
Green Member
 
Posts: 18
Joined: Fri Sep 27, 2013 7:35 pm
Location: New York, NY

Postby KimNY » Thu Jan 23, 2014 2:49 pm

Thanks for the advice. I am still deciding, I am still very petrified of this entire process. I will feel a little better when I have my balances paid down next week. In the event I need to call for reconsideration I want the balances to be as low as possible but not zero as you mentioned.

Here's another question, do credit card companies look at balance transfers in a different light? In other words what I am wondering is if I requested a balance transfer would that translate to being approved quicker?
I think if I decide to go for it, I would do them simultaneously, may the best man win. I am thinking each of them may not see each others' pull if done at the same time and from the same agency. Is that a bad way of thinking about it?

As always I appreciate the advice,
Kim
EQ 9/2013 610; 5/2014 732
TU 9/2013 577; 5/2014 799
EX 9/2013 610; 5/2014 742

CURRENT CARDS:
Amex Green Card member since 4/2012
Cap One limit 300 starter card was orchard bank now Cap One (5/2011)
Cap One limit 1820 starter card (4/2011)
Best Buy limit 300 starter card was HSCB then Cap one, now Citi.(11/2011)
Banana Republic (GEMB) limit 1100 (5/2011)
Care Credit (GECRB) limit 8900 (7/2012)
Amex Delta Sky Miles limit 2500 (11/2013)
Chase Freedom 4500 (5/2014)


MemberSince99
Centurion Member
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Posts: 4913
Joined: Sun May 20, 2012 4:35 pm
Location: WI

Postby MemberSince99 » Thu Jan 23, 2014 3:04 pm

I don't have any hard data about whether balance transfers matter to a given lender. I doubt as far as approval goes it matters. But I have no evidence to support anything as I've personally never carried a balance on any of my cards or done a balance transfer and so I can't tell you anything about that.


It's not a bad way of thinking about it, however, I don't see how you can physically push them at the same time so one will get in before the other one will, and they are pretty much instantly are viewable by any other lender. So I would not think that is going to work.


As an FYI in Wisconsin Citi pulled EX for my recent Dividend card, which Chase pulled EX and TU for my recent Freedom.


I would still app Citi first if you do them both, as Chase is a lot easier to recon with.

samhradh
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Joined: Thu Nov 21, 2013 1:13 pm
Location: United States

Postby samhradh » Thu Jan 23, 2014 5:56 pm

I'd only app for the Diamond Preferred if the perks make sense for you. It's not a rewards card. IMO not a good card to add. The Freedom on the other hand, I'd recommend to anyone.
Citi Forward ($10.1K), AmEx Blue Cash Everyday ($30K), Chase Freedom ($12.4K), Discover it ($5.5K), Barclaycard Arrival ($12.5K), L.L. Bean Visa ($5K). FICO 806 (TU), 812 (EQ), 806 (EX).

KimNY
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Posts: 18
Joined: Fri Sep 27, 2013 7:35 pm
Location: New York, NY

Postby KimNY » Fri May 16, 2014 9:21 pm

Hello all so I want to give you all an update and let you know your experience and advice have paid off for me, so THANK YOU!!

So to refresh your memories in Sept 2013 I started out with scores of TU 577, EQ 610, EX 610. As of this month I got the scores up to 799,732,742. I have been getting CC offers in the mail nearly every month from Citi, Chase, JCPenny, and one for a Walmart card. Some for Chase Freedom, Chase Slate, Citi Diamond Preferred, and Citi Thank you Preferred cards. I saved them all and withheld my temptation to pull the trigger. It was about 2 months ago I got an automatic CLI on one of my capone cards of 1500, and also just before that a 500 CLI on my Old Navy card. I opted to request a CLI on my Delta card and got it up to 2500. I was chicken to ask for the 3xcli you all speak of.
Fast forward to 3 seconds ago, I pulled the trigger on the Chase Freedom card and... wait for it...voila instant approval for 4500! Yes my heart was pounding. I know this may seem trivial to some, but to me it was a major breakthrough!
All I can say is YAY!! I opted for the Chase card because I bank with them and have had 2 auto loans in the past which I have never been late on. I figured if I was declined I at least had a stellar history to talk about if I needed to request a second look. I continue to pay everything early and almost in full, leaving about 10% on any card. I still have a 5000 bal on care credit card that I will consider doing a balance transfer on to the new Freedom card and take advantage of the 0% APR til 9/2015.
Happy Happy Happy!
EQ 9/2013 610; 5/2014 732
TU 9/2013 577; 5/2014 799
EX 9/2013 610; 5/2014 742

CURRENT CARDS:
Amex Green Card member since 4/2012
Cap One limit 300 starter card was orchard bank now Cap One (5/2011)
Cap One limit 1820 starter card (4/2011)
Best Buy limit 300 starter card was HSCB then Cap one, now Citi.(11/2011)
Banana Republic (GEMB) limit 1100 (5/2011)
Care Credit (GECRB) limit 8900 (7/2012)
Amex Delta Sky Miles limit 2500 (11/2013)
Chase Freedom 4500 (5/2014)



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