Another kid on the block asking for advice !!!

Another kid on the block asking for advice !!!Another kid on the block asking for advice !!!
LizzieMer asked 4 years ago

Hi there, This is my first but definitely not the last one, really great info here, Thank you. A bit about me: New in the country, Dec 2014 I opened a BoA checking/saving account and applied for a secure cc, got approved for $ 500, on May I was offered at the bank a secure cc, applied and got approved for $ 500 (HP here), never have any late payment and always paid in full. Well found this forum trying to get my FICO scores (703 at the time – now 692 and probably go down more in few weeks), here my Journey: Done within a month period – Called BoA and converted my secure cc to unsecured and increased my limit to $ 1500 (asked for $ 5000), i was denied for the unsecured (not enough time, just 4 months) – Applied for AMEX cc (got denied reason was, need at least 725 score, called recon and the same) – Applied for Capital one cc (pre-approved for both, got approved for Platinum $ 1000 and QS1 $ 2000 – both will auto CLI after the 6 statement) – Applied for Chase Freedom (Approved for $ 4500), saw the offer and same day applied for Chase SW and got approved for $ 5000. – Applied for Discover it (got approved for $ 1000 – buy on Amazon and Aveda (wife) a lot so I get discount/points). – Applied for Walmart (got store cc for $ 150, called recon and get $ 2000) – Applied for SAM’S (got store cc for $ 870, called recon and no-go) – Applied for banana republic cc (got store cc for $ 300, called recon and no-go) I shop a lot on these places, BR for clothes and SAM’S for monthly groceries, Walmart not much though, later found out that I can use Walmart card on SAM’S so thinking in closing SAM’S account in about (-+) 6 months so I can establishing my score first (CLI is way better on Walmart than SAM’S based on my reading here in the forum). Well, I know what I did was completely wrong and I am very aware this will come back to me at some point, I have been applying for credit like crazy in a short period and that definitely is not the way to go but well now I get it and need to keep going, at the moment I have NO plans applying for more cc’s, my plan is make them grow and let the HP goes away, I am not buying a house for now so I will have enough time to fix this before start thinking on it. Now I need some advice from you guys, 1- I read here: http://ficoforums.myfico.com/t5/Credit-Cards/Chase-Freedom-over-the-limit/td-p/4251244 This person got a chase freedom and a southwest cc merged into one with a high limit: — “I called in to Chase, and merged my available $ 8500 on the southwest card onto my Freedom card, all within the same day of applying. So now I had a $ 11,700 limit Freedom card.” — I have read about this in this forum and some of them says you can’t and other the opposite (see post), I am interested in doing this, if I am allow it of course , which one will I keep?, don’t care about reward, never use southwest airline and never will, applied because is a premier signature and there is no foreign transaction (I am from Canada so I can use it there), but I will love not to pay fees as well lol, I really need your inputs here guys, will be this possible?, which one will grow more? , which one at long run will give me more based on your experiences? (every case is different but just to have a start point and go from there). 2- Close BoA $ 500 cc for good and only keep one (both are cash rewards), for what I read here, every time you ask for CLI you have a HP and beside that, at this point do I really need two BoA cc?, I needed before to start building credit and get me at the door, well I already there so, what do you guys think? 3- Should I keep my SAM’S store card?, I do a lot of shopping there, I have the plus membership ($ 100 annually) that give me $ 10 for every $ 500 spend there, well I have $ 120 in rewards already and still 4 months to go, I prefer SAM’S over Walmart for this reason but its kind a hard get CLI, what do you guys think? Well really appreciate you help on these question and thank you in advance.

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