warpchant

CRA: EX FICO:790 FICO Bankcard Score 08 Util: 9% Over 5/24: yes Chase Banking Relationship: only with credit cards (Amazon and CSP) Chase Private Client: no App immediate outcome: 7-10 day message Notes: I called the application status line and it states they need more time to evaluate. Have not called for Recon yet Update: I called for status and application was denied. I asked for reconsideration. The Chase underwriter says that the only reason I was denied is that I am over the limit of new credit cards in the past 24 months. I asked if I could move the limit from my Chase Sapphire Prefered to the Reserve card. The answer was "no"... He did suggest that I call Member Services and ask for a product change from CSP to the Reserve. He hadn't heard of it working but thought I should give it a shot. I may try another recon in the next day or so. sigh. I want this card badly now..

Just wanted to update this very old thread. I just got the keys to my new house today. This was a new construction journey that took from March of 2015 until June 21st, 2016. There is no way I could have come this far without creditboards. I am now a homeowner in one of the most expensive cities I've ever lived... San Diego! Thanks again and for anyone who thinks that a mortgage is out of reach for them, please know that that is not true. Time, diligence and creditboards rescued me!

balance transfers charge 3-5% fee even if it's 0% interest.Chase Slate is offering 0 balance transfer fee and 0% interest for 15 months with a new card. Keep in mind you should have some High Limits on Chase before you apply for the Slate. The Slate spits out low CL's. If you have other Chase cards, you could transfer out to the Slate Line. I have the Chase Sapphire Preferred with $27k limit, this is the one I would be with and then transfer to my Pen Fed American Express for 0% (minus the 3% transaction fee)

balance transfers charge 3-5% fee even if it's 0% interest. +1 Not that I recommended this route of buying a car on a CC, but if you were to go this route, for rewards purposes, it would make sense just to use a card if you have a 0% on purchases for a promo period, You would save yourself the BT fee and also earn yourself some points on that specific program with the purchase. That sounds better, you're right. I know I'm 0% on transfers but not sure about purchases. I'm going to the dealer this afternoon and will know more then. Thanks!

I am looking to downsize my automobile and get a smaller, low payment one such as a Hyundai Accent it's a 2016 model and I can walk out the door with it for $11,000 My question is this..... could I buy the car with one of my credit cards to get credited for the spend and then balance transfer that balance to my card that 0% transfer? I plan to pay in full for the car this year, A large $11k spend will earn me lots of points, hopefully. Just a thought... advice?

+1 And/or when a creditor states existing available credit as a denial reason though that may only apply to that creditor. If you aren't aware of such things it might be too much for you. Then the question may not be is it too much but why that's difficult for you. I have a total of $7400 on 2 cards so I'm not in any danger (although I should probably pay those cards down to the $2 balance on 1 card).. I'm just amazed that I received that much credit after having very low 600s score just one year ago. I am not tempted to spend it all because the apping seems to be so much more fun. I'm not going after any new credit for a while..... Again, this board is amazing and it is only with your help that I made it this far!

Yes, I've tried multiple times to get NFCU to combine them to the Flagship but so far haven't had any luck....

As my credit score has gone up tremendously over the past year ( thanks to CB!!!), I have been apping and getting approved for fairly large limits. I just added all my revolving tradelines up and I was astounded ... $142,000 I didn't really know that it was that much and now I'm scared that I have TOO much. The breakdown is as follows... NFCU...... Flagship $25,000 Cash Rewards $25,ooo NavCheck $15,000 PenFed.... AMEX $15,000 Chase Sapphire Preferred $27,000 Cap one.......$2,000 USAA...........$1,000 Kohls............$2,000 Amex BCE.......$15,000 Costco TE.........$15,000 Ficos are... TU 801 EX 791 EQ 752 It is difficult to stop apping, I have to say. I don't know what other credit cards would be beneficial at this point. So is it too much? Thanks!

OP, could you tell me how this turned out for you? I'm just trying to figure out how the derive a minimum payment on a card with no balance.....thanks!

It is a VA loan

I thought that closing them would reduce the "chance" (in the eyes of the mortgage company) of me getting overextended. On another thread, it seems like the mortgage company would still factor a "minimum payment" even on accounts with zero balances. I'm worried that the additional credit will raise my DTI as well. My scores are good, EQ 745, TU 812, EX 792 so I'm hoping that they don't force a change in my interest wait...

Is there a formula for how to calculate the minimum payment for a card with no balance?

So, I haven't been able to reach my loan officer by phone so I have drafted the following letter and would appreciate any feedback on it. Hopefully, she will call or read the email in the next several days. Here's the letter.... Thanks in advance everyone! (BTW, there was also a PenFed Amex that I had not mentioned.) Hi (Loan Officer), This is (Jon Doe). I hope you are well! Thanks for letting us know that the final paperwork has been approved by the underwriter! I have a quick disclosure for you. I wanted to let you know that there will be 2 additional inquiries if the credit is pulled again. Shortly after being approved by underwriting, I received preapproval offers for PenFed credit union and a Chase card. Both cards offered 0% balance transfer which I was anxious to use. So without thinking it through, I accepted the offers and both applications were approved. I wanted to let you know so that there are no surprises before the final closing. Both accounts have zero balances and my plan is to close both. Hindsight is 20/20 and if I had to do it over again, I would most definitely not have done so. I have already written a Letter of Explanation for this situation and will happily forward it along if needed. Thank you so much for all your help through this lengthy process. I look forward to your response. Sincerely, Jon Doe