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BofA APPROVED!! & ????

Discussion in 'Credit Talk' started by lynn112, Oct 28, 2003.

  1. Oct 28, 2003 #1
    lynn112

    lynn112 Well-Known Member

    Hey everyone, you guys deserve a big huge thanks! Hubbie applied online for a BofA plat. card,got instant denial, but with a planetfeedback request for reconsideration,he got approved for a 2,5k limit!

    Thanks to you all of course, now hubbie has dumped all sub-prime cards and has entered the comfie spot of decent rates,no annual fee!

    We now have a citi plat. and BofA plat.
    This is soooo cool. Very excited right now..lol

    Also, should we close the gm card account? They raised his rate to 23.9% and have been anything but helpful.There is no annual fee, but i am worried that when we go to get a care loan or home improvement loan that they will say too much available credit.

    total available credit is about 10k with about 1k bal total bal.

    Thanks !
     
  3. Oct 28, 2003 #2
    Mirage

    Mirage Well-Known Member

    Congrats. I don't think you have too much credit. Also if it's a positive TL and you have a good history with no annual. Why not keep it?

    Best regards,
    Mirage
     
  4. Oct 28, 2003 #3
    Lainie5374

    Lainie5374 Well-Known Member

    Congratulations! Just became a BofA cardmember myself - doesn't it feel awesome? :)
     
  5. Oct 28, 2003 #4
    lynn112

    lynn112 Well-Known Member

    Thanks both of you for the replies,I'll wait on it to see how the reports look score wise in 6 months.I have a feeling he will have over 750 after the new accounts age some,maybe close to 800.!!!

    This feels so great.
     
  6. Oct 28, 2003 #5
    Hedwig

    Hedwig Well-Known Member

    I wouldn't close anything until your new ones age a bit. Keep them open, use them for a small purchase every few months and pay if off, so the APR doesn't matter.
     
  7. Oct 28, 2003 #6
    lakpr

    lakpr Well-Known Member

    Just $10K in total credit limits?? Not even enough to do a decent balance transfer, IMO.

    That's nothing! Before closing ANY card, I'd aim for credit limit at least equal to annual salary. Low credit limits hurt your utilization ratios...
     
  8. Oct 28, 2003 #7
    GEORGE

    GEORGE Well-Known Member

    FOR SOME REASON NOT EVERYBODY WANTS $200,000+ LIKE I HAVE...
     
  9. Oct 28, 2003 #8
    lynn112

    lynn112 Well-Known Member

    hubbie says no way to anything more than what he could pay off if he ever was in a jam. He was close to BK before and never wants to be back there. Things are going good for us and he wants to keep i that way.He'll loosen up eventually.....



    PS-George,I wouldn't know what to do with 200K in available credit. I would probably take a couple of much needed vacations, my kids are driving me nuts......lol
    How is Australia this time of year........hmmm

    :)
     
  10. Oct 28, 2003 #9
    GEORGE

    GEORGE Well-Known Member

    Re: Re: BofA APPROVED!! & ????

    I have UNDER 30% used most of the time...even less at times...CAN'T REMEMBER THE LAST TIME I APPROACHED 50% USED...

    F.Y.I.--I pay interest at 1.90% to 5.90%
    AMEX DELTA and UNITED VISA (BANK ONE) ALWAYS PAID
    IN FULL (100% OF PURCHASES)

    5.90% IS ON THE FAST TRACK...min. payments $900.00/month
     

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