Credit Tips: Credit Card Acceptance Tips

Posted On: February 1, 2006

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Posted: Wed Jan 12, 2005 10:42 pm
Post subject: Credit Card Acceptance Tips

Audrey
Date: 8/23/2000 11:26 am CDT

Hi Everyone:

I would like to eventually acquire a frequent flyer credit card to supplement my frequent flyer miles with United Air. Right now, I’m carrying a large balance on a fixed interest credit card, but plan to pay it off within the next six months. I’ve also recently cancelled about six credit cards in an effort to simplify my life.

After I’ve paid off my balance, how long will it take to make my credit look attractive to a frequent flyer credit card? I already have pretty good credit (my other cards are all platinum cards).

Anyone advise AGAINST signing up with an annual-fee United Air Miles card?

Thanks for your help!

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Posted: Wed Jan 12, 2005 10:43 pm
Post subject: Credit Card Acceptance Tips

Board Monitor - AD
Date: 8/24/2000 1:05 am CDT

Audrey,

When it comes to “Credit Acceptance” it really comes down to each individual creditor. Since you have cancelled several credit card accounts, and have paid them in full (shows your responsibility as a cardholder), this will look good to future potential creditors as you have less open lines of credit available.

In terms of how long it will take your credit to look attractive, well, you might want to check you credit report before applying. Once you noticed that your accounts have been closed, and balances stated as “Paid in Full”, then you may feel more comfortable in applying for an additional frequent flier card (though since you’ve already have had several platinum cards, approval should not be a problem). And/or you might want to call your creditors to see how long until they report to the credit bureaus.

Sincerely,
Alex Daskaloff
http://www.creditcardfreedom.com

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Posted: Wed Jan 12, 2005 10:43 pm
Post subject: Credit Card Acceptance Tips

Ira Stoller
Date: 8/25/2000 9:34 am CDT

Based on what you’re saying, you can probably obtain the card you’re interested in right now.

HOWEVER…..

Be very careful with these annual fee air miles cards. There’s really no other advantage to them. No promo rates, no cash rebates, etc. You have to decide whether it’s best to receive the small amount of frequent flyer miles on each purchase, vs. the cash rebates you can receive from certain other cards which charge no annual fee. If you plan to use the card to the tune of several thousands per month, and if you fly an awful lot, mabe. If not, the “benefits” plus the costs are questionable.