I’ve known about the importance of building credit since I was about 18 and opened my first card, but I am just now getting into the whole game / world of points, perks, and ways to leverage cards. I’m generally averse to cards with annual fees, especially since I don’t do much traveling. I’m getting married next year so opened a capital one venture one card (20k limit) to park some big deposits (~13k) and pay them off a little more slowly using the 0%APY for intro year. However, having those balances parked has made my score take a dive (I still don’t have many cards and am new to my income bracket). Here are some options I’ve thrown around: would love to know any thoughts.
(Total # cards
BOA (8k, awful card but had it for ~10y so it’s my oldest and can’t ditch it, small here-and-there purchases)
Chase (24.5k Sapphire preferred – this is my day-to-day card, paid in full every month)
Chase Freedom (17k joint card with my fiance – I am an authorized user, don’t really use it but we have used in the past for big purchases; carrying ~3k balance)
Cap One (20k, carrying ~13k)
Options I’ve considered to haul back up my score while carrying this balance:
-removing myself as an authorized user from joint Freedom card
-upping BOA limit, though they may raise eyebrows bc of low utilization
-new card to lower UR (o/s chase and cap one):
–considering SPG amex, amex everyday preferred, citi thank you premier
–considering waiting a bit – last app. was 4/2015
-personal ‘wedding loan’ to diversity lines of credit
If I do go for a new card, am i shooting myself in the foot for having a lower score when I apply?