Should I app Venture?

[Anonymous]

I want the Venture. Only thing keeping me from pulling the trigger is the lowering of my AAoA that will result...   I'd like the opportunity for a decent Visa CL then shoot for a CLI on my Amex in 45 days before hitting the garden..   The temptation to do a 2 for 1 and get the QSilver is real too, but I'm afraid that would really kill my AAoA. If approved that is..

EQ 719 TU 736 EX 708

Current Total Util: 3% 

Income: 90K 

Amex BCE 5,000.00

Amex Platinum NPSL

Amex Gold Delta 1500.00

Discover 1200.00

Cap One 500.00 had for almost 2.5 years perfect pay (started my build)

AAoA 1.2 yrs

Oldest Account 2.5 yrs - Car loan

No bads

Inquiries last 12 months: TU- 0  EX- 3  EQ-1

I have a short history due to living debt free for so many years. 

So tempted..

Added Note: My scores actually went up 10-12 points after I added my last two cards (The Delta Gold and Platinum) Not sure adding another would have the same effect.. 

[Anonymous]

Is this a card you need and would benefit from having/using?  (Both of them, really, the Venture and the QS)

Do you have any immediate plans for using your credit on a loan/mortgage or for some other reason?

If not, then go ahead, do your apps, and then wander into the garden.  Your AAoA will age, one month on each account every 30 days

If you have no real plans to borrow/finance in the near future, it doesn't really matter about you AAoA anyway; it's a very small part of your score, anyway.

If you'd reap benefits from the new card(s) that you aren't currently getting or that would improve your rewards/returns/costs, go for it.

[Anonymous]

I'm mainly looking to increase my total available credit so I don't have to micromanage my utilization over the summer while travelling. I can cure that while also taking advantage of the travel incentives the card might offer.  It's hard to travel and not go over 9% util with a relatively low available credit limit and I think the Venture will probably give me the highest CL than any other card right now.

I might trade my car around September but I think that any score hit I take now might rebound by then.

[Anonymous]

If you want to protect your current AAoA, why not just use the cards you have, then?

Any utilization you put through them in the next two months will disappear once you pay it off.  There is no permanent or even lasting damage from higher utilization, once the amounts are paid off the points return.

If your next goal is a car purchase in the fall, there is no reason to stress over higher utilization now.  Micromanaging your utilization is only necessary when you are about to use your score for something, it is not necessary 24/7 - just staying under about 30% will keep your creditors happy day-to-day, with less time and energy spent trying to work with it constantly.

If you foresee using the new account(s) long-term, for travel benefits or otherwise, then by all means, go for it.  But if your only goal is to spend a little over the next couple of months and then pay that off, there is no reason to take a hit in AAoA.

[MauiMan85297]

FYI, if you're referring to do a 2-1 for Cap1 you can only app for one or the other as they will only approve 1 account in 6 months.

[Anonymous]

I chose to go with Venture One.  They gave me a SL of $10,000 with no annual fee.  Probably could have gotten $15k or $20k with the Venture but I didn't want the annual fee.  The $10k J. Crew card really allowed me to get some nice limits on new cards, including $25k on Lowes.  I have since closed the J. Crew account.  

I can remember how happy I was with my first $500 Barclays card in July 2014 after 14 years with no credit cards.  It will take a little work but you can get back on your feet in a short amount of time.  It felt so restrictive and retarded to be in your 40s with one $500 credit card.  Now I have $114,000 in revolving lines.

[driftless]

I would, and I rarely recommend apping for an additional card.  My Cap One rebuild card(s) all morphed into a Venture MC with a $25,9 CL.  After a recent commercial mortgage app recently I app'd for a second Venture and received one with a $35,9K SL.  Go figure on the odd limits.  Given your profile you are likely to receive your highest CL with the Venture. You have a couple of cards that you can close if you would like to keep things simple.  

I was thinking of closing the MC or combing the accounts but we travel, and I like to have an extra couple of cards and photocopies of my important documents locked away in my suitcase.  Case in point, a good friend was mugged a week ago in Rome.  

[Anonymous]

Well I applied and was flat out denied. Kind of surprised based on data points I have seen for approvals. Probably no use attempting a recon?

[driftless]

I am sorry.  I thought that you would have been approved.  

[Anonymous]

Since I've already "wasted" the triple pull I wonder if I should apply for a lower tier card like the Venture One or Quick Silver? If they are lower tier... Won't they use the same hard pull?