Hi everyone Just wanted to let you know i have been approved for a juniper platinum mastercard with a $7500.00 limit.I know alot of you have said this card is hard to get.So i have took my chance on applying for their card,and it paid-off.Now i have a total of 88K in limits all togeather,this is to my advantage for balance transferring power for low interest rates.Like herb said deal from strength exercise your credit,and soon you will grow big credit limits.I have perfect credit,and it is a valueable asset not just a liability asset.Maintaining an excellent credit rating is a must if you want to be sucessful in life.So to the one's that have been denied for this card,don't give up just get your credit toward execellent rating,and you will get the card eventually. Have a good day everyone BLE103
RE: been approved for a junipe Congratulations, Do you know your credit score and is too much available credit bringing the score down?
RE: been approved for a junipe My score is 740,and does having too much availible credit brings your score down?Yes,and no.It is how a person uses their credit cards that would cause a persons score to go down.What lenders don't what to see is all credit card accounts being maxed,this will kill a persons score real quick like.FICO credit score model takes your outstanding balances,and compares it to your availiable credit limits if it sees more then 73% used this is very bad,and can damage your credit rating big time,and the end result is higher interest rates.My advice is to you,and anyone else on this board keep your revolving credit utiliazation no more then 40% of total availiable credit used to get the highest credit score.Also each lender has their own criteria on their debt to income ratio to see if you are overextended with all credit.My advice on this is to have no more then 20% of income going toward non-mortage debt like credit cards,auto loans,and personal loans,etc.This too will help you credit score big time by giving a higher score to anyone.Take a person that is making 20K as their income then this person should have no more then $333.00 worth of payments showing up with all 3 credit bureau's. To meet any lenders credit scoring calcalations for lower interest on their credit cards don't exceed this 20% figure on non-mortgage debt.Lenders claim credit card debt is bad.No not really it all boils dowm to a person that uses their credit wisely.Credit is going to get much harder to get eventually as our economy is slowing very fast,and therefore all lenders will get tight on extending credit for anyone,because they would fear of not getting paid back.So if you got your credit well established hang on to it because it is a valueable thing to have against some hardtimes.It comes handy in a time of need.
RE: been approved for a junipe >> Lenders claim credit card debt is bad.No >> not really it all boils dowm to a person >> that uses their credit wisely. No, not necessarily true. Many lenders, such as mortgage lenders, see huge amounts of available credit as POTENTIAL debt. It won't really affect your SCORES, but a lender can say 'forget you' if he thinks you're trying to get in over your head. >> Credit is going to get much harder to get >> eventually as our economy is slowing very >> fast,and therefore all lenders will get >> tight on extending credit for >> anyone,because they would fear of not >> getting paid back. I completely disagree with this. As the economoy slows, the interest rates DROP to encourage MORE SPENDING. But I believe that that has zero effect on GRANTING of credit - either you're a good risk or you are not.
RE: been approved for a junipe Is the balance to available credit determined for each card or is it for the total of all revolving accounts?
RE: been approved for a junipe I have 12 credit cards and all of them is max out and my score is still 880. June
RE: been approved for a junipe Sorry, but I don't bye that. It must not of been real FICO score. FICO goes from 300-900, and not so Fair-Isaac has admitted that more than 5 cards, and percentage of available credit are MAJOR factors in determining score. I believe that you may very well have an extremely high score (low 800's), I don't think it's possible to have 880 with 12 cards maxed out.
I doubt it If you have 12 cards maxed out, there is NO way in heck your score is 880, your ratios would be at a 100%, that my dear would significantly lower your score!!
