App for third card?

Anonymous · ‎12-09-2017

I was considering applying for a third credit card at some point to max fico. Looking at AMEX or CAP1 but I have no real preference. What card would you suggest applying for and also when would be the best time to apply? I'm in no rush and have no problem waiting months or even years if necessary.

AAoA: 1yr 1mo

Oldest: 1yr 7mo

Income: $40k

Current cards:

DCU Platinum CL $500/Balance$35

DiscoverIT CL$3,400/Balance $250

Current FICO8:

EX: 740/1 INQ

TU: 740/0 INQ

EQ: 730/1 INQ

No negs.

Thanks so much.

HeavenOhio · ‎12-09-2017

Your scores, inquiries, and utilization are all good. Ideally, you'd have only one of your two cards reporting a positive balance. But given your overall utilization and your good scores, I wouldn't sweat it.

I think you're in good shape for either of the banks you mention. Actually, I think you're probably fine for just about every bank but not necessarily every product. I'd avoid risking apps on cards with relatively high minimum starting limits.

Anonymous · ‎12-10-2017

Your scores, utilization and history are very favorable. I'd go to the AMEX and Cap1 pre-qual sites and see what they'd offer. If you get solid APRs for any of the cards, you know you're highly probable to be approved. Then it would just boil down to if you have multiple card offers which one suits your needs best.

Anonymous · ‎12-11-2017

I think you should wait until you get aaoa above 2 years. Use that time to apply for CLI on your current cards. Otherwise you'll end up with a bunch of low limit cards.

Anonymous · ‎12-11-2017

@Anonymous wrote:

I think you should wait until you get aaoa above 2 years. Use that time to apply for CLI on your current cards. Otherwise you'll end up with a bunch of low limit cards.

I disagree -- getting 3 credit cards to start makes more sense since FICO gives you a free point boost for your first 3 credit cards, and then you can age them together nicely.

OP, do you have any installment loans? If not, consider the Alliant SSL (in my 11 rules thread) which will give you a hefty boost if you have no installment loans reporting.