• filter:
  • 182838485 86
  • Page
  • Previous 40
  • Text Only
  • Search this Topic »
rated:
giselmey said:   
crazy4beatz said:   looks like any personal cards with over 50% of credit used can hurt your credit score quite a bit.
read the comment by tom in the link below
LINK 
thx

  In the linked article it is recommended not to use more than 50% of available credit if you don't want your credit score to tank. Is that of ALL available credit or of available credit on the card you want to use? I've got a very good offer (0%, 15 mths,  no fee) on a PNC Card and would like to use about 80% without hurting my score too badly... 

There's an "all" component and also a "single card" component.  That will probably tank your score ~30-50 pts.   Which still may not matter if it's high enough.   I had ~$10k of 12k limit on a card for a year on a similar offer and it pulled mine from 800 to 760.  Still was high enough for best mortgage rates... (*requires 740)

rated:

marysm said:   Another question... My new (now second) BBR has a statement closing date of 3/6. Will I still get the first quarterly bonus if I only have a charge on the March statement (my first)? Or, since the card is open in Feb, but there’s no Feb statement, will I be out of luck?

Thanks!

  
imbatman;19400908 said:
Call boa.
You have until March 31 to do quarterly bonuses. Statement date doesn't matter

  
Turns out, BofA answers this question in the "program rules" flyer you get shortly after opening your account. See pic attached. It seemed the payment due date is what counts. My new account opened late Feburary and my first billing period was listed as Feb 6 - March 6th, with my first payment due April 3rd. (Made a $3 charge at Amazon on 3/2.) I don't expect to get a Q1 bonus, but should be on my way with Q2.

 

rated:
Bend3r said:   
giselmey said:   
crazy4beatz said:   looks like any personal cards with over 50% of credit used can hurt your credit score quite a bit.
read the comment by tom in the link below
LINK 
thx

  In the linked article it is recommended not to use more than 50% of available credit if you don't want your credit score to tank. Is that of ALL available credit or of available credit on the card you want to use? I've got a very good offer (0%, 15 mths,  no fee) on a PNC Card and would like to use about 80% without hurting my score too badly... 

There's an "all" component and also a "single card" component.  That will probably tank your score ~30-50 pts.   Which still may not matter if it's high enough.   I had ~$10k of 12k limit on a card for a year on a similar offer and it pulled mine from 800 to 760.  Still was high enough for best mortgage rates... (*requires 740)

  
How much your score drops is dependent on a ton of different details. I have about $250k of available credit, and my score has hovered between 810 and 820 for the past few years. That is with never carrying a balance month to month. About 6 months ago I took out a 15 month 0% BT for over $25k on a card with a $32k limit. So my utilization on that single card is right around 80%, but my overall utilization is still only about 10%. My score dropped to the 790's. So it only impacted me about 20 points.

rated:
Was thinking of doing an AOR, focusing on getting cash back or earning flexible points for a possible trip from STL to SAN next year.

Plan:
AMEX Everyday (25k MR points after $2k spend in 3 months)
AMEX Gold, not Premier (25k MR points after $1k spend in 3 months)
AMEX Mercedes Benz Platinum (75k MR points after $3k spend in 3 months)

From what I've read, it's safe to apply for 1 credit card and 2 charge cards, with all 3 being lumped into 1 hard pull if I manage to get auto-approved for all 3.

Does anyone have any other suggestions for something I may have missed.

Previous cards held:
Amex Blue, Amex Blue Everyday, Amex SimplyCash, Amex Green, Amex Preferred Rewards Gold, BofA Cash Rewards, Barclays NFL card, Barclays Arrival Plus, BBVA Compas NBA, Capital One Quicksilver, Capital One World, Capital One Venture, Capital One Spark, Chase Amazon, Chase Ink Cash, Chase Sapphire, Chase Sapphire Preferred, Chase Freedom, Chase Disney, Chase Marriott, Citi ThankYou Premier, Citi ThankYou Preferred, DiscoverCard, Discover IT Card, PenFed Cash Rewards, PenFed Platinum Rewards, Target RedCard, US Bank The Linux Fund.

rated:
I think you got that backwards. I think it's 2 credit cards and one charge card.
Also, check the terms on the AMEX Gold. typically they say you're ineligible if you've had other charge cards in the past. Since you've had PRG and Green, you may be ineligble for regular gold.

rated:
I appreciate the feedback.  

Hopefully the various AMEX cards are treated separately, but I suppose that is a risk.

According to DoctorOfCredit, you can only get 1 AMEX credit card per day.  I have no personal experience with it however.  
http://www.doctorofcredit.com/card-issuers-that-combine-multiple...

 

rated:
Well you can apply for two in a day.
If one gets disapproved, you can call and reconsider.
I have (in 2011) gotten 2 amex credit cards in one day.

rated:
So I was planning an AOR with a number of credit union cards in the mix. At least one is ELAN, but theoretically the others are using some more outdated system that might be AOR-friendly. I was going to submit the CU applications first (especially since the rumor is at least one denies based on "too much available credit") and then go after the Chase/Amex/Barclays cards (which are less valuable to me). But is that a sound strategy if the CU apps are sent to the backroom for review and they're actually pulled later in the day or something? I'm almost tempted to do the CU apps on Monday and the big issuers on Tuesday.

rated:
I did BAC / Barclay / Chase in an AOR fashion. Then AMEX denied without HP. BAC & Chase gave minimal limits, but enough to cover required spend. Barclay gave 2X CL each of the other two.

My only credit union experience was when a car dealer shopped a car loan obtained via the car dealer. It was not pretty. Multiple HPs but not good enough to get the car loan from the car dealer.

  • Quick Reply:  Have something quick to contribute? Just reply below and you're done! hide Quick Reply
     
    Click here for full-featured reply.
  • 182838485 86
  • Page
  • Previous 40


Disclaimer: By providing links to other sites, FatWallet.com does not guarantee, approve or endorse the information or products available at these sites, nor does a link indicate any association with or endorsement by the linked site to FatWallet.com.

Thanks for visiting FatWallet.com. Join for free to remove this ad.

While FatWallet makes every effort to post correct information, offers are subject to change without notice.
Some exclusions may apply based upon merchant policies.
© 1999-2016