Is there anyway to know before applying for a creidt card, which credit report a specific company uses? My score varies quite a bit on all 3. (545, 580, 635) Also, can anyone recommend who they think the "most likely to approve" company is for a high limit (5K or so) card is with my credit scores? I am looking to consolidate balances. I have a co-signer with pretty good credit if needed. Do co-signers really make THAT much of a difference in getting approved? Thanks for help & opinions!
In general, it is best never to be a co-signer, or to ask someone else to co-sign. In particular, a potential co-signer would be better off just lending you the money, and if they won't or can't do that, they shouldn't be cosigning. If they can do that, they should ask themselves why they would want to become your banker when a bank doesn't want to. It is a good way to attract grief and lose friends. Take a look at your overall credit history, get any errors removed, and consider starting with a secured card, or thru a credit union. If you are having problems carrying your debt, which is why you are trying to balance transfer to somewhere else, opening up a new co-signed account just sets up a larger disaster if you don't reduce spending to create the cash flow to pay down debt faster.
It would be my mother that would be a co-signer - not a friend. I do not have that much debt for the average person (about 2K) but would like a card with a large limit for emergencies and would transfer the 4 or 5 seperate balances I have (totaling about 2K) to the 1 card to make it easier to manage. So, it is not a matter of needing 5K cash - I was just inquiring what my best route to get approved for a card of that amount would be.
What types of accounts, terms, and credit limits do you currently have? How old is your oldest card? What recent offers are you getting? What terms, any with balance transfers on opening the account, and from what banks? Prescreened offers are made with at least some assessment of what your existing credit picture is. If they are making offers, you could probably just open one. Just be selective.
based on my own experience, if you mother is willing to help, i assume she has great credit. i would have her open a card in her own name, with great terms (IE 7 or 8%). once the account is opened she can add you as a joint account holder, in which they will issue you a card, but on the same account. with that, you can delve into balance transfers. it worked for me, and perhaps may work for you.
i also see that i have been a member since 1970 with only 8 posts. did anyone have the Internet in 1970? apparently, i am an old school guru
