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Im going to join DCU in February. Im wondering if I should app for their Visa when I join? below is my report in a nutshell, should I wait or give it a shot?
charter one: $0 / 500CL opened Jan 2012
chase: $0/ 500 CL opened september 2012
Wal Mart: $450/ 1000 opened september 2012
Kay: 2k/ 3000 CL opened august 2012
No LATES ON ANY CARDS ABOVE
DTE energy: opened april 2011 never late
Mohela student loan 7 years no lates
another Mohela student loan 6.5 years no lates
Discover card CO from 08' PAID
Key Bank SL CO from 08' PAID
Usually I suggest that you open a tradeline as soon as possible if you want it, but in this case I'm not certain I see the draw.
As I understand it, you're going to take a HP to join; you're going to take a HP to open the card; you're going to take a HP to get any CLI's in the future.
It won't matter long term but if you're doing this for limit chasing in addition to the FICO score, I think you're better waiting to make your report as pretty as possible. If you just want the FICO score and the limit is irrelevant, then apply on opening.
Edit: April looks good from a tradeline perspective if you can pay down by then, take the 6 months seasoning on half your cards for a likely FICO bonus.
I would wait 50% utilization is pretty excessive. you may be apporved , but I assume it will be for a low amount like poster above me.
TU 715 No apps to 05/13 cash+ 5/13!!! 738 TU CSP April 13!!!CSP approved May 13!!!
@toppers555 wrote:I would wait 50% utilization is pretty excessive. you may be apporved , but I assume it will be for a low amount like poster above me.
I have a ring and tv on 0% interest while I pay it off. My non store cards are always pif and never carry a balance, but they have such low limits that my util reports very high. I am chasing a higher limit, and I know you say the person above received a low limit, but its all perspective. I would be ecstatic with a 3k limit! I hate having these $500 CL with multiple payments per month. I just figured they would be my best bet to get a limit of 1k or more. Myfico score is only 670 TU 674 EQ and 680 EX last pull.
@battles11 wrote:
I just joined dcu. I apped for visa then became a member. Its going to be two hardpulls. I had 80% utilization on my cards with a EQ fico of 666 and was approved for a 3k limit.
what was your AAOA? Your scores are about what mine are and util a little higher, but did you have any negatives or maybe a long history of revolving credit usage? My AAOA is 2.5 yrs and 1 yr revolving experience