Which Choice is the Right One? You decide

QuestionsWhich Choice is the Right One? You decide
asked 3 years ago

Hello,

 

My name is Beth, am 27 year old got my first card 5 year ago and have been working on my credit score for the last year. (please look below for all my current scores and cards information)

I want to get Lasik done on my eyes and I need help deciding on how to pay for it. The bill would be 3.4k for both eyes which is a great price, and I asked and the price will not expire so I have time to make a decision.

 

 

 

Things I want to do:

 

***Increase the CL on My American Express Cash card from 13k to an even 20k or higher? (had it increased from 6.5k to 13k on 08/2015) the wait time is up and i can try to increase my CL again.

 

****Take out a loan to help my Account Mix currently have 5 Revolving Credit, 1 Student loan. I got an from Discover personal loans offer that expires on 3/29/2016 for up-to 30k with 6.99% to 18.99%. Which I would take out a loan for 3k and I did research would be 8.99 APR and I plan to pay it off in less than a year and there is no prepayment penalties. WOOT

 

**** Get a new Card, Current CC offers i got in the mail:

Citi Simplicity Card 12.99% APR 0 % for 21 months (no late fees, no penalty rate and no annual fee not a problem for me because i always pay my account on time ) I like the 21 months free APR if I pick this card I won’t need a new card for almost 2 years Smiley Very Happy  Expires: 3/15/2016

 

Ctit Double Cash Card 13.99% APR 0% for 18 months (earn 1% unlimited cash back on every purchase you make, then earn an additional 1% cash back on payments) so 2 % back not bad but i don’t ever go over 50 bucks on my new cards a month  Expires: 3/15/2016

 

Citi ThankYou Preferred Card 14.99% for 0 for 18 months (2x ThankYou  Points per dollar spent on purchases for dining at restaurants and entertainment. 1x ThankYou Point per $ 1 spent on other purchases)  I could add this card to my fandango account and get points when i go to the movies  Expires: 2/15/2016

 

Please note: I still have 0% APR on American Express EveryDay CL:5k till 05/2016 so I don’t know if I should wait then get a new card?

 

Choices:

 

  1. Put the full amount on AMEX Cash Card for 3.4k and pay 10.49 APR 15% of my cards  utilization (not get a new card waiting till after may and not getting a loan or increase on my card)  

 

  1. The Doctors office told me about CareCredit for 0% APR for 24 months, but i read they have really bad customer service and i don’t want to add them as new credit card that I can only use on medical stuff.

 

  1. Get the loan from Discover for 3k and pay it off in less then a year at 8.99 APR, which will help me with my Account Mix. Smiley Very Happy (not get a new card waiting till after may and not increase on my card)  

 

  1. Put the 3.4k on my American Express EveryDay CL:5k  at 0 APR till may then 17.24% but i use more than 60% of my cards utilization.

 

  1. this is the big one, i would try to do this all in one day: Increase my CL on my AMEX card, ask for the loan and apply for one of the Citi cards and then my scores will drop like a rock, but i would need to use for my score for another 2 years

 

  1. What do you think there is another choice I just haven’t thought of it that why I came to MyFico.

*I know most of these changes will drop or increase my score I just want the best option that help me in the long run when I try to buy a house in 3 years (think of the advice you would give yourself 5 year ago about your credit score.) i don’t care if drops because i not planning on buying a car for another 2  year or a house for 3-4 years. I am ok with taking a hit so my scores can become stronger.  

Thank you for taking the time to read and help me, also sorry for any spelling or grammar mistakes.

 

Free Scores via Site: AMEX (760), Credit (774), Credit Karma (768), Discover (765), Mint (724)

 

$ 24,550 Overall Credit Limit, No Annual Fee, All Cards Paid in FULL Each Month

 

★Student Loan Start:12,700 Current:6,400 APR:3.4%| Opened: 10/2010

★BOA Power CL:1.5k  APR:17.24%| Opened: 07/2011

★Amex Blue Cash CL:13k  APR:10.49%| Opened: 07/2014

★Discover IT CL:3550k  APR:12.24%| Opened: 10/2014

★Amex EveryDay CL:5k  APR:17.24%| Opened: 02/2015 says 2014 on report

★BOA Better Balance CL:1.5k  APR:13.24%| Opened: 04/2015

 

☆ 0 Late Payments|

☆ 6% Debt to Limit Ratio|

☆ 9 mo. Youngest Account – 63 mo. Oldest Account|

☆ 5 Revolving Credit -1 Student – 0 Auto/Mortgage|

☆ 5 Total Inquiries

 

 

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