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I would wait. They are already going to see the inquiry, why not let them see the higher CL?
Yesterday I received an email from Experian that BofA reported the CL increase.
I have decided to apply for the AMEX Blue Cash Everyday w/ the $150 sign up bonus and 15 months 0%.
Anyone have any idea how much of a hit on my score I would take if I applied/open 2 new cards? Would it be a good idea to open 2 at the same time? I will eventually get another after the AMEX, I'd just prefer it sooner as to start the credit history sooner if that makes sense or should I wait?
Here is my updated credit profile as of 01/10/2018:
AAoA: 1yr 6mo, oldest account 2yrs 10mo
Income: $70k
Zero derogatory marks
3% credit utilization ($1,137 out of $36,900)
7 total accounts all paid on time (1 closed car traded in)
R&I FCU Auto loan $37,199 (beginning 44,611)
Best Buy (Citi) CL $4,000 balance $837
Merrick Bank CL $2,200 balance $0
Tire Plus Store CL $2,200 balance $0
Bank of America CL $8,1000 balance $0
Discover CL $20,400 balance $300
Credit Karma score: TU 755, EQ 759
Experian app 784 FICO 8
Discover account FICO score 794
Merrick Bank account FICO score 815
Bank of America account FICO score 789
Inquiries: EX 4, TU 8, EQ 9 - last inquiry was 12/2017 on TU then 7 months ago (on EQ) for Best Buy Store Card (Citi). All other inquiries on all 3 bureaus are 1+ year old. I should have about 3 to 4 inquiries fall off TU & EQ in March from car shopping in February 2016.
AMEX cards take 2 months to report, so they're good for protecting AAoA.
Your AAoA hitting 2 years will help your FICO scores quite a bit. Do you have an AAoA estimator calculator? If not, PM me and I'll send you my spreadsheet so you can do some analysis now and for the future.
When was your last new account? New account penalties hurt the most for 0-3 months, hurt less for 3-6 months, and WAY less for 6-12 months. So if you have had a new account in the past 3 months, another new account will have very little effect on your score as there is no scoring difference for AAoAs under 2 years.
My last new account was Best Buy store credit card (Citibank) in June 2017. Started with a $2,300 balance out of $4k CL. It's down to $831.
I just pulled the trigger, AMEX BCE gave me $10,000 SL.
@Anonymous wrote:I just pulled the trigger, AMEX BCE gave me $10,000 SL.
CONGRATULATIONS!! I pulled the trigger back at the end of December and got the same amount for the BCE. I almost fell out of my chair and I might have shed a tear of joy. :-)
I was going to suggest the BCE card. I tend to shy away from Cap1 because they HP from all three. For me, it's not worth it.
@Anonymous wrote:AMEX cards take 2 months to report, so they're good for protecting AAoA.
Your AAoA hitting 2 years will help your FICO scores quite a bit. Do you have an AAoA estimator calculator? If not, PM me and I'll send you my spreadsheet so you can do some analysis now and for the future.
When was your last new account? New account penalties hurt the most for 0-3 months, hurt less for 3-6 months, and WAY less for 6-12 months. So if you have had a new account in the past 3 months, another new account will have very little effect on your score as there is no scoring difference for AAoAs under 2 years.
Am I able to get in on the spreadsheets offer? I really enjoy playing in those and would love to see what it predicts. :-)
@Anonymous wrote:I just pulled the trigger, AMEX BCE gave me $10,000 SL.
Sweet!