Ask Hegemony: Am I Diversified?

[PlatinumPreferred]

In reference to the original question, "Am I diversified?

 

If you have more credit cards than you have stocks....you probably aren't diversified! lol

[Islandgal]

USAA -- 70K

Navy Visa -- 50K

Patelco Visa -- 45K

PenFed Visa -- 40K

Navy MC -- 40K

Nasa Visa -- 40K

Lockheed Visa -- 33.5K

Justice Visa -- 30K

Fairwinds MC -- 30K

Addision Visa -- 30K

DCU Visa -- 25K

Navy navcheck -- 15K

Home Depot -- 15K

Lowes -- 14K

Cap one -- 11K

Circuit City -- 6K

ESPN -- 4K

 

You're missing the Nordstrom signature card.

OK! Next trip to the mall I'm all over it, espicially with my new scores.

 

congrats on those scores Joe!

[socalfiremedic]

The downside of being better than everyone else is that people tend to assume you're pretentious.

 

 

 

 

:)

I'd figured just as much from you.

 

 

?

[nyrfann]

USAA -- 70K

Navy Visa -- 50K

Patelco Visa -- 45K

PenFed Visa -- 40K

Navy MC -- 40K

Nasa Visa -- 40K

Lockheed Visa -- 33.5K

Justice Visa -- 30K

Fairwinds MC -- 30K

Addision Visa -- 30K

DCU Visa -- 25K

Navy navcheck -- 15K

Home Depot -- 15K

Lowes -- 14K

Cap one -- 11K

Circuit City -- 6K

ESPN -- 4K

 

You're missing the Nordstrom signature card.

OK! Next trip to the mall I'm all over it, espicially with my new scores.

 

congrats on those scores Joe!

Thanks!

[TrevorHere]

USAA -- 70K

Navy Visa -- 50K

Patelco Visa -- 45K

PenFed Visa -- 40K

Navy MC -- 40K

Nasa Visa -- 40K

Lockheed Visa -- 33.5K

Justice Visa -- 30K

Fairwinds MC -- 30K

Addision Visa -- 30K

DCU Visa -- 25K

Navy navcheck -- 15K

Home Depot -- 15K

Lowes -- 14K

Cap one -- 11K

Circuit City -- 6K

ESPN -- 4K

 

You're missing the Nordstrom signature card.

OK! Next trip to the mall I'm all over it, espicially with my new scores.

 

congrats on those scores Joe!

Thanks!

 

nordstrom's definitely belongs in your profile...

[nyrfann]

USAA -- 70K

Navy Visa -- 50K

Patelco Visa -- 45K

PenFed Visa -- 40K

Navy MC -- 40K

Nasa Visa -- 40K

Lockheed Visa -- 33.5K

Justice Visa -- 30K

Fairwinds MC -- 30K

Addision Visa -- 30K

DCU Visa -- 25K

Navy navcheck -- 15K

Home Depot -- 15K

Lowes -- 14K

Cap one -- 11K

Circuit City -- 6K

ESPN -- 4K

 

You're missing the Nordstrom signature card.

OK! Next trip to the mall I'm all over it, espicially with my new scores.

 

congrats on those scores Joe!

Thanks!

 

nordstrom's definitely belongs in your profile...

anything else?

[TrevorHere]

USAA -- 70K

Navy Visa -- 50K

Patelco Visa -- 45K

PenFed Visa -- 40K

Navy MC -- 40K

Nasa Visa -- 40K

Lockheed Visa -- 33.5K

Justice Visa -- 30K

Fairwinds MC -- 30K

Addision Visa -- 30K

DCU Visa -- 25K

Navy navcheck -- 15K

Home Depot -- 15K

Lowes -- 14K

Cap one -- 11K

Circuit City -- 6K

ESPN -- 4K

 

You're missing the Nordstrom signature card.

OK! Next trip to the mall I'm all over it, espicially with my new scores.

 

congrats on those scores Joe!

Thanks!

 

nordstrom's definitely belongs in your profile...

anything else?

 

merrill+, saks mc, ameriprise?

[chiti]

Hegemony:

 

What would you say to this family:

 

Family income $70,000 / year, spend $1,500/month on cards, no serious credit history problems:

 

Amex Clear or Discover More - $7,500

Chase Freedom Signature Visa - $7,500

Citi Platinum Select Mastercard - $20,000

[nyrfann]

USAA -- 70K

Navy Visa -- 50K

Patelco Visa -- 45K

PenFed Visa -- 40K

Navy MC -- 40K

Nasa Visa -- 40K

Lockheed Visa -- 33.5K

Justice Visa -- 30K

Fairwinds MC -- 30K

Addision Visa -- 30K

DCU Visa -- 25K

Navy navcheck -- 15K

Home Depot -- 15K

Lowes -- 14K

Cap one -- 11K

Circuit City -- 6K

ESPN -- 4K

 

You're missing the Nordstrom signature card.

OK! Next trip to the mall I'm all over it, espicially with my new scores.

 

congrats on those scores Joe!

Thanks!

 

nordstrom's definitely belongs in your profile...

anything else?

 

merrill+, saks mc, ameriprise?

Trevor / Marcus,

Do you think I'd be ok since I still have my BK showing.

[startover]

My major card portofilio is in my sig. Am I sufficiently deversified? Thanks Hege.

[TrevorHere]

USAA -- 70K

Navy Visa -- 50K

Patelco Visa -- 45K

PenFed Visa -- 40K

Navy MC -- 40K

Nasa Visa -- 40K

Lockheed Visa -- 33.5K

Justice Visa -- 30K

Fairwinds MC -- 30K

Addision Visa -- 30K

DCU Visa -- 25K

Navy navcheck -- 15K

Home Depot -- 15K

Lowes -- 14K

Cap one -- 11K

Circuit City -- 6K

ESPN -- 4K

 

You're missing the Nordstrom signature card.

OK! Next trip to the mall I'm all over it, espicially with my new scores.

 

congrats on those scores Joe!

Thanks!

 

nordstrom's definitely belongs in your profile...

anything else?

 

merrill+, saks mc, ameriprise?

Trevor / Marcus,

Do you think I'd be ok since I still have my BK showing.

 

hmm. forgot about that part. I don't have experience with that but hege might have some input ...

[hegemony]

*sending CMRRR* to hegemony Trying again....

 

 

Majors:

PenFed cash rewards $5000 limit/$75 balance

Citi Plat $3700 limit/ $0 balance

HSBC $5000 limit/$0 balance

Capital One $1900 limit/$0 balance

Providian/Wamu $5462 limit/$0 balance

Wamu Business card $500 limit/$0 balance

Amazon.com (Chase) $400 limit/$0 balance (mad about my limit, won't use very often)

 

Storecards:

Home Depot (Citibank) $2000/$0

Service Experts (GEMB) $4000/$0

Circuit City (Chase) $1500/$1200 (0% through 2010)

 

Suggestions?

 

very good effort. Pays attention in class. A couple oddballs or another CU would show improvement, but solid performance nonetheless. A-

[Andrew W]

List your credit cards, issuers and limits to find out the answer to the age old question: am I Diversified?

 

Just curious to see if I am on the right track or not. I am an undergrad (turning 20 next month) and am curious to see what I should be shooting for as my next several cards, if any, and how I should be more diversified.

 

Amex Clear - $20,000 limit / $100 average monthly statement balance

Citi Driver's Edge - $17,500 / $100 balance

Citi Professional Cash - $3,600 / $0 balance

Discover More - $1,000 / $0 balance

 

After my youngest account (the Citi Professional Cash card, opened in 9/2007) has aged to one year, I am wondering what I should apply for next. I do have memberships with PenFed and OCTFCU, but none of their credit cards really interests me, so I could do without any credit unions for now. Also, I currently don't have any Visa credit cards, and was actually contemplating applying for the ML+ card at the end of this year. As far as rewards programs and credit cards I actually need, I have all the cards I need for now. So it is not like I am in desperate need to open more accounts in an attempt to maximize my rewards.

 

Thanks Hegemony!

[hegemony]

Citi 26.6k

lAmex 15k

Chase 1 10K (Sig no CL reporting)

Chase 2 10K (Sig no CL reporting)

US Bank 7k

We Fe (aka Wells Fargo) 6.5k

Best Buy Store 9.8k

B of A 1 9k

B of A 2 9k (Sig no CL reporting)

RBS 5k

Target Visa 5k

WaMu 4k

Macys 1.4k

Local CU 1k (from way back when I had no history)

 

??????????????????????????????

 

very good mix. B+ with a clear path to the A-range with a couple national CUs and perhaps combo the BOA and Chase.

[hegemony]

Chase $21,200

Citi $17,300

BofA $23,700

BECU $25,000

 

what should I add?

four solid exams, but additional CLD mitigation needed. Perhaps RBS, SFB, and Patelco. B

Edited April 6, 2008 by hegemony

[hegemony]

USAA -- 70K

Navy Visa -- 50K

Patelco Visa -- 45K

PenFed Visa -- 40K

Navy MC -- 40K

Nasa Visa -- 40K

Lockheed Visa -- 33.5K

Justice Visa -- 30K

Fairwinds MC -- 30K

Addision Visa -- 30K

DCU Visa -- 25K

Navy navcheck -- 15K

Home Depot -- 15K

Lowes -- 14K

Cap one -- 11K

Circuit City -- 6K

ESPN -- 4K

 

 

A+ with two gold stars.

[wmarat]

BOFA AMEX 15000

BOFA MC 11000

BOFA VISA PLATINUM 800

CHASE WAWA 4000

CHASE HESS 1500

CHASE SHOPRITE 2000

JCP 1800

MACY'S REDCARD 1500

WALMART STORECARD 725

PAYPAL BUYER CREDIT 700

CITI CASHREWARDS (AU) 3900

AMEX BLUE (AU) 5000

 

THE FIRST CARD WAS OPENED 22 MOS AGE THE LAST 6 MOS AGO

[hegemony]

USAA MC 25K

WaMu Visa 9.5K

Patelco Visa Gold 5K

CapOne MC 5K

Target Visa 5K

Nordstrom store card 3.5K

Barclays USAir MC 2K

Macy's store card 2K

 

Thinking very seriously about culling the Barclays card. Want another CU card (leaning toward Alliant or NASA), maybe a State Farm card or some other oddball card. 3 of the big 4 (AMEX, Chase and Citi) are out of the running since they were all IIB for me.

 

Any other thoughts? How's my diversification?

 

very good mix, but as you already seem to know there is room for improvement. If your barclay's has an AF you might want to close it a month before the fee renews. SFB visa is an excellent choice. Why not get a second Patelco card? The cashback card is very good IMHO. DCU might do you well too. B with two gold stars for excellent post BK reconstruction.

[hegemony]

So is this for diversification with regard to safety of not being completely wiped out if one issuer gets cranky or messed up? Or is this for FICO diversification reasons?

 

I'd appreciate your opinion on where I should focus on apps in future. Not interested in apps right now because most of these are new and need age. Only had 1 CC before this and that was charged off (Citi--300 in 04)

 

WaMu Platinum VISA: 1500

US Bank Rewards VISA: 3000

Juniper/Barclays Itunes VISA: 250

 

Macy's store card: 400

 

AMEX Green Charge

 

Had Orchard MC Platinum for 1 year and they are now FIRED

 

It sounds like I need a CU Revolving acct? I have a CU installment acct but I don't like the CU.

 

Thanks Hege.

not a bad set of options. B with a clear path to higher grade with a few more CU cards and maybe the oddballs that are within your reach (see the oddball cards master thread). Adding slowing overtime is a great strategy and one that seems to be serving you very well.

[hegemony]

My List:

 

PenFed 35k

USAA 35k

Bank of America 35k

American Express 35k

American Express 20k

BankAltlantic Biz 15k

Citi 12k

National City 10k

Chase 9.5k

Military STAR 6.7k

Home Depot 5k

Wamu 3k

Wachovia 2k

Juniper 1.5k

Definiately an A student. A couple of oddballs for fun might add some spice to your life. BMW visa or RBS MC?

[hegemony]

Majors

Juniper USAirways $4k

Juniper IcelandAir $1k

Orchard $500

Hooters $1600

National City Secured $250 -- Closing in Dec. @ 2 year mark

Applied Card $1400 - Closing in Dec. @ 2 year mark

Chase Amazon $700

HSBC Direct Rewards Discover $300

GEMB Walmart Discover $1k (CLD from $2500 )

BOA Amex $2500

Amex Delta $1k

 

Store Cards

Home Depot $2k

Dillards $250

Sams Club $500

Target $500

Macys $1500

Chevron $600

Dell $2k

A couple WFNNB store cards

 

Got most of my cards during credit repair. I'm looking to get a $5k or above card now that my reports are clean and baddies are all over 7 years so no surprises.

 

 

You are on the cusp of greatness. B with a plan of action to obtain CLI as well as at some point consider applying for a CU or two that offer high limits, such as NASA or Patelco. Some oddballs offer good limits too, such as BMW visa. Maybe see if you can talk barclays into a combo deal.

 

But of course for you, and everyone else (myself included) be sure to engage in a comprehensive literature review before applying for new products.

[hegemony]

Hegemony:

 

What would you say to this family:

 

Family income $70,000 / year, spend $1,500/month on cards, no serious credit history problems:

 

Amex Clear or Discover More - $7,500

Chase Freedom Signature Visa - $7,500

Citi Platinum Select Mastercard - $20,000

 

Three/four cards from major issuers is fine, but not very diverse. $1500 a month can generate some nice rewards. I also think every family needs to be protected with a CU card or two. Patelco, for example, has some of the most consumer friendly terms in the universe. So the grade is a C, but with summer school you will improve greatly.

[hegemony]

My major card portofilio is in my sig. Am I sufficiently deversified? Thanks Hege.

AMEX Optima Plat/HH/Business Gold - $12.5k/$20k/NA (Amex approval after Oasis. LUV LUV!!)

BOA Visa Signature/Financial Rewards - $10k/$3k

Chase Freedom/Business Plat. - $10k/$12k

USAA Platinum MC - $25k(highest CL in 3 years. straight approval and massive CLI. USAA ROCKS)

Navy FCU nRewards Visa/MC - $18k/$18k (NFCU is godly!)

US Bank Plat Cash/Skypass - $10k/$4k (US Bank is great to deal with)

NASA FCU Plat Visa - $3k

Citi Dividend - $2k (Approved via PFB recon)

Juniper Carnival Seamiles- $4.45k (recent CLD, quirky bank)

Sam's Club Discover - $2k

Wamu ESPN - $2k

Kay/Jared/CareCredit/Gap/Chevron/Sam's/Nordy's - $1.5k/$1.5k/$5k/$700/$600/$500/$1k

 

Wow, what a great score improvement and an excellent example of someone who clearly took care of BOTH HALVES of credit repair.

A with a plan for higher limits with the same number or fewer cards, combos might be in order to get those CL higher before moving on to any fun and/or rewards cards you covet (higher limits beget higher limits).

Edited April 6, 2008 by hegemony

[hegemony]

List your credit cards, issuers and limits to find out the answer to the age old question: am I Diversified?

 

Just curious to see if I am on the right track or not. I am an undergrad (turning 20 next month) and am curious to see what I should be shooting for as my next several cards, if any, and how I should be more diversified.

 

Amex Clear - $20,000 limit / $100 average monthly statement balance

Citi Driver's Edge - $17,500 / $100 balance

Citi Professional Cash - $3,600 / $0 balance

Discover More - $1,000 / $0 balance

 

After my youngest account (the Citi Professional Cash card, opened in 9/2007) has aged to one year, I am wondering what I should apply for next. I do have memberships with PenFed and OCTFCU, but none of their credit cards really interests me, so I could do without any credit unions for now. Also, I currently don't have any Visa credit cards, and was actually contemplating applying for the ML+ card at the end of this year. As far as rewards programs and credit cards I actually need, I have all the cards I need for now. So it is not like I am in desperate need to open more accounts in an attempt to maximize my rewards.

 

Thanks Hegemony!

 

You are doing very very well. Adding a CU card, such as penfed is a hedge against one of the majors crapping out on you. Penfed has a good rewards card IIRC. An oddball at some point in the next fews years seems in order too. B+ with five gold stars for getting an early start and wisely contemplating card options.

[hegemony]

BOFA AMEX 15000

BOFA MC 11000

BOFA VISA PLATINUM 800

CHASE WAWA 4000

CHASE HESS 1500

CHASE SHOPRITE 2000

JCP 1800

MACY'S REDCARD 1500

WALMART STORECARD 725

PAYPAL BUYER CREDIT 700

CITI CASHREWARDS (AU) 3900

AMEX BLUE (AU) 5000

 

THE FIRST CARD WAS OPENED 22 MOS AGE THE LAST 6 MOS AGO

Good job, comprehensive with the corporate-issued cards. Now go for that A with a couple CUs or oddballs. Perhaps after your most recent accounts age a bit more. A-