Have 1 Credit card with $1500 limit, whats my next step?

[josh222]

Hi Dan,

I've had problems getting approved for a credit card a number of years ago because of an old story that I've cleared up. I then got a secured card, cleared up the issue and brought up my credit to avg score. I was then approved for the Chase Freedom for a line of $1500 about 2 years ago. I have not applied for a new cc since. I was not aware that it is not good to maximize my credit line at any given time, so although I would spend $600 - $800 a month on the card, I would pay the full amount before my due date, however the total balance (including most of next cycle) would end up being $1200 - $1400.

That being said, would you suggest I apply for another card at this point? If so, what would you suggest I apply for that has a good chance for approval?

Thanks!

[meshugener]

I would have the next statement close with a balance of around $200 or less, then apply for the United MileagePlus Explorer card.

[az]

i have $3000 limit on the one card (1st card) and a $400 koles card,all within the past year and 1/2,i want to get into things,
where/how to start? i have bin doing some research but want some professorial opinions first ,thanks.

[mmermss]

i have $3000 limit on the one card (1st card) and a $400 koles card,all within the past year and 1/2,i want to get into things,
where/how to start? i have bin doing some research but want some professorial opinions first ,thanks.

Checked your credit score?  Which CC do you have now?

[az]

its about 700+ usaa

[sruly101]

its about 700+ usaa

??

[az]

credit score=700+ "good" ,and the card is  USAA
unless im missunderstanding

[mmermss]

its about 700+ usaa

Ok.  So first things first...do not cancel that card.  Its best to keep you oldest card open for your credit score.  I'm no professional at this but I would suggest a 2/3bm with Chase.  SP/United Explorer/Freedom
With Amex you can do a 2bm or SPG/MB Platinum

[mmermss]

??

??
https://www.usaa.com/inet/pages/banking_credit_cards_main

[sruly101]

??
https://www.usaa.com/inet/pages/banking_credit_cards_main

Thanks this i know, asking why someone has this cards???

[az]

im an army brat

[sruly101]

im an army brat

Salute 

[az]

thanks for your help

[SGF]

Ok.  So first things first...do not cancel that card.  Its best to keep you oldest card open for your credit score.  I'm no professional at this but I would suggest a 2/3bm with Chase.  SP/United Explorer/Freedom
With Amex you can do a 2bm or SPG/MB Platinum

-1
I wouldn't suggest to try those cards because he will need at least $5k CL for the SP and if they do give this card they prob wont give the others so what's the point of trying for cards that probably won't work?

[mmermss]

-1
I wouldn't suggest to try those cards because he will need at least $5k CL for the SP and if they do give this card they prob wont give the others so what's the point of trying for cards that probably won't work?

-1
The point of it is that while your getting a hard pull why not go for more credit cards and get more credit (and points). I know people in his situation who did a 2bm and was approved for both via recon.

[Barryg]

i have $3000 limit on the one card (1st card) and a $400 koles card,all within the past year and 1/2,i want to get into things,
where/how to start? i have bin doing some research but want some professorial opinions first ,thanks.

As far as I know (at least where I live) Kohls is Cap1 which may check all 3 bureaus. Not sure where usaa pulls from. So, first thing I would do is sign up for Citi Identity monitor (1$ for 30 days, but make sure to cancel before 30 days are up). If you have 2 pulls from one bureau then check ddf for which cc pulls from where in your state, and apply to cc that will pull from least hard pull. Ex. If u have two inquiries with Experian and none with TransU and Chase pulls Transu in your state then you know where to apply... Also make sure your utilization% is low before applying...

[az]

 not like reg,the kohls card has a bar code instead of a magnetic ribbon ,it doesn't look like a cc ,it only has 12 digits ,and on the back it seems to call it a "Kohl's Charge"

[Barryg]

Kohls charge is like any store cc, as far as utilization and having an open account it counts as well. I have a Kohls card too, just since it was opened at least five years ago (and back then I didn't know much about credit) I wouldn't know where they pulled from. Card is issued by Cap 1, so maybe they do one credit pull and maybe all 3. There are 2 ways to find out, annualcreditreport and get all three reports, each is free once every 12 months, so I stagger it. Or citi identity monitor.

[az]

Kohls charge is like any store cc, as far as utilization and having an open account it counts as well. I have a Kohls card too, just since it was opened at least five years ago (and back then I didn't know much about credit) I wouldn't know where they pulled from. Card is issued by Cap 1, so maybe they do one credit pull and maybe all 3. There are 2 ways to find out, annualcreditreport and get all three reports, each is free once every 12 months, so I stagger it. Or citi identity monitor.

how dos one use it at a store/web store if it only has 12 digits and no magnetic strip? ("Kohls charge is like any store cc, as far as utilization")

[Barryg]

Go into store or online and use it... Even if it's a small transaction. You won't build credit unless you use card, and they may send you a letter one day that your account is cancelled. Even if you only charge one dollar and pay a month later. Even though it's 12 numbers and no strip it is still a cash card and works like any store cc. You can't use anywhere else, but you can buy stuff from them and pay later.