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Valued Member
Posts: 35
Registered: ‎02-24-2013
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Advice for first app spree/portfolio

[ Edited ]

I've recently been looking to expand my credit card portfolio. My current credentials and history are listed below.

 

Age: 27

EX: 763

TU: 764

Utilization Rate: 15% (It will be close to 0%, if not completely, at time of application)

OAA: 7.3 years

AAoA: 5.8 years

Delinquents: 0

Late payments: 0

Hard inquiries: EX (1, 8/11), TU (2, 7/11, 11/11)

Installment loans: 1 - $25k/Auto (07/11)

Credit cards: 1 - $5k/I was going to ask them for a CLI soon to $10k if it'd benefit me (10/05) 

Income: $37k

 

Below is a list of cards I would like to obtain. (I don't mind starting with the "lower" cards to obtain the premium ones, I'm not in any need or rush)

 

Amex GC (PRG@13 months)

Amex BCE (BCP@13 months)

Discover IT

Chase Freedom/Sapphire (CSP@13 months)

 

*BoA Visa (I could exclude this one, since my CU CC is a Visa)

 

I want these cards so I can start a relationship with these companies, and so I can have one of every "type" in my portfolio (Visa, Discover, MC, Amex). Would it be best to apply for all of them on the same day? Would it be better to apply for the two (Amex?), let those post to my reports, and then apply for the rest? Would it be better to get an CLI for my CU CC to $10k before applying?

Established Contributor
Posts: 747
Registered: ‎10-15-2012
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Re: Advice for first app spree/portfolio

I think your file looks great and you would be a great candidate for all of those cards. The only one that might be slightly iffy is the Amex revolver. Go for them all in a day. If you wait until the new accounts post your AAoA will be dragged down. Only ask for CLI on your current card if it is a SP. The only thing I would suggest is that you go for all the "preferred" cards first. That way you can get the awesome sign-up bonuses. I don't think you'll be eligible with a PC at 13 months. If you wish to downgrade your preferred cards to avoid the AF that is a possibility.

 

Lookin great! Good luck on your spree!


Starting Score: 515
Current Score: EQ04 675 EX04 702 TU08 724
Goal Score: 700+

Amex BCP $12300 | PSECU $10000 | Discover IT $9250 | Barclay Ring $6500 | Citi DC $6100 | DCU $5000 | Chase Freedom $4000 | PayPal Extras MC $3000 | US Airways $2400 | Cap 1 QS One $2000 | Cap 1 Platinum $1700 | Union Plus $1000 | Target $200
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Valued Contributor
Posts: 1,408
Registered: ‎07-12-2011
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Re: Advice for first app spree/portfolio


Royal_Flush wrote:

I've recently been looking to expand my credit card portfolio. My current credentials and history are listed below.

 

Age: 27

EX: 763

TU: 764

Utilization Rate: 15% (It will be close to 0%, if not completely, at time of application)

OAA: 7.3 years

AAoA: 5.8 years

Delinquents: 0

Late payments: 0

Hard inquiries: EX (1, 8/11), TU (2, 7/11, 11/11)

Installment loans: 1 - $25k/Auto (07/11)

Credit cards: 1 - $5k/I was going to ask them for a CLI soon to $10k if it'd benefit me (10/05) 

Income: $37k

 

Below is a list of cards I would like to obtain. (I don't mind starting with the "lower" cards to obtain the premium ones, I'm not in any need or rush)

 

Amex GC (PRG@13 months)

Amex BCE (BCP@13 months)

Discover IT

Chase Freedom/Sapphire (CSP@13 months)

 

*BoA Visa (I could exclude this one, since my CU CC is a Visa)

 

I want these cards so I can start a relationship with these companies, and so I can have one of every "type" in my portfolio (Visa, Discover, MC, Amex). Would it be best to apply for all of them on the same day? Would it be better to apply for the two (Amex?), let those post to my reports, and then apply for the rest? Would it be better to get an CLI for my CU CC to $10k before applying?


Greetings Royal_Flush!   Welcome to the FICO Forums!

Well, I think your AAoA looks good as does the amount of credit you've been seeking for the cards you'd like to get.  I'm curious about which card you have at 5K and where you get your scores.  Are they FICO?  If not, then I'd def invest in purchasing your true FICO from here to give you a better gauge of what your EX report might look like.  With that said, with your scores (being FICO) and current profile, I think you are good to go for all the cards you've listed including the AMEX revolvers.  However, my advice is to get the CLI on the current card and let if report before you app the other cards.  The reason I ask the current card you have at 5K is because I'm curious if it's possible to get the CLI with a SP or not.  Either way, I'd still do it.   After the CLI to a higher limit, you will probably gleen a few really good CLs on the new cards. Just an FYI, you AAoA is only good, not great so understand that apping all these cards and getting approved will lower your AAoA significantly and probably affect your score for a little longer being that the 4 new cards vs the current one and installment loan weight. .  I'd probably only app 3 cards that I really want then wait a year and app the 4th, with the 4th being the Discover.  That's MHO and wish you the best!  After thought - Get the CSP if you travel or plan to travel a lot, if not then the Freedom might better suit you.  Hope this helps.  :smileyhappy:


Starting Score: 642
Current Score: EQ 773, EX 780, TU 777 (All FICO)
Goal Score: 800+

Cards: NFCU Flagship 50K, DC 30K, BCP 28.6K, Arrival+ 25K, Citi DP 22.8K, CSP 20.5K, TotalRewards 20.5K, QuickSilver 20K

Valued Member
Posts: 35
Registered: ‎02-24-2013
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Re: Advice for first app spree/portfolio


Simply827 wrote:

I think your file looks great and you would be a great candidate for all of those cards. The only one that might be slightly iffy is the Amex revolver. Go for them all in a day. If you wait until the new accounts post your AAoA will be dragged down. Only ask for CLI on your current card if it is a SP. The only thing I would suggest is that you go for all the "preferred" cards first. That way you can get the awesome sign-up bonuses. I don't think you'll be eligible with a PC at 13 months. If you wish to downgrade your preferred cards to avoid the AF that is a possibility.

 

Lookin great! Good luck on your spree!


I thought for Amexs it normally goes; obtain card > 61 day 3x CLI > 6 month CLI > 13 month PC?

Valued Member
Posts: 35
Registered: ‎02-24-2013
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Re: Advice for first app spree/portfolio


improvingmycredit wrote:

Greetings Royal_Flush!   Welcome to the FICO Forums!

Well, I think your AAoA looks good as does the amount of credit you've been seeking for the cards you'd like to get.  I'm curious about which card you have at 5K and where you get your scores.  Are they FICO?  If not, then I'd def invest in purchasing your true FICO from here to give you a better gauge of what your EX report might look like.  With that said, with your scores (being FICO) and current profile, I think you are good to go for all the cards you've listed including the AMEX revolvers.  However, my advice is to get the CLI on the current card and let if report before you app the other cards.  The reason I ask the current card you have at 5K is because I'm curious if it's possible to get the CLI with a SP or not.  Either way, I'd still do it.   After the CLI to a higher limit, you will probably gleen a few really good CLs on the new cards. Just an FYI, you AAoA is only good, not great so understand that apping all these cards and getting approved will lower your AAoA significantly and probably affect your score for a little longer being that the 4 new cards vs the current one and installment loan weight. .  I'd probably only app 3 cards that I really want then wait a year and app the 4th, with the 4th being the Discover.  That's MHO and wish you the best!  After thought - Get the CSP if you travel or plan to travel a lot, if not then the Freedom might better suit you.  Hope this helps.  :smileyhappy:


I signed up for the trails at EX and TU. The CC I have at $5k is from my local CU and is a Visa Platinum. 

Established Contributor
Posts: 747
Registered: ‎10-15-2012
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Re: Advice for first app spree/portfolio

It would be more advantageous to apply for the "prefered" cards so that you will get the sign on bonus. A product change likely won't allow you to take advantage of the bonuses. If the preferred cards are what you want then just app with those.

 

 

Any scores you got from the EQ and TU sites are NOT FICO scores. You can get your true FICOs from this site.


Starting Score: 515
Current Score: EQ04 675 EX04 702 TU08 724
Goal Score: 700+

Amex BCP $12300 | PSECU $10000 | Discover IT $9250 | Barclay Ring $6500 | Citi DC $6100 | DCU $5000 | Chase Freedom $4000 | PayPal Extras MC $3000 | US Airways $2400 | Cap 1 QS One $2000 | Cap 1 Platinum $1700 | Union Plus $1000 | Target $200
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Valued Contributor
Posts: 1,408
Registered: ‎07-12-2011
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Re: Advice for first app spree/portfolio

[ Edited ]

Simply827 wrote:

It would be more advantageous to apply for the "prefered" cards so that you will get the sign on bonus. A product change likely won't allow you to take advantage of the bonuses. If the preferred cards are what you want then just app with those.

 

 

Any scores you got from the EQ and TU sites are NOT FICO scores. You can get your true FICOs from this site.


+1. Get your true FICO scores from here.  FAKOS can be all over the place and are not reliable.  I suspect though with your listed profile, your FICO should be pretty healthy.  Most CUs pull EQ for their credit products so I think if would be advantageous to you to go ahead and get that CLI and let it report.  As Simply827 stated, app the cards you really want, don't plan a PC later and lose the sign on bonuses when you are probably good to go already.  I'd still wait till after a CLI reports to get the highest possible starting limits.


Starting Score: 642
Current Score: EQ 773, EX 780, TU 777 (All FICO)
Goal Score: 800+

Cards: NFCU Flagship 50K, DC 30K, BCP 28.6K, Arrival+ 25K, Citi DP 22.8K, CSP 20.5K, TotalRewards 20.5K, QuickSilver 20K

Valued Member
Posts: 61
Registered: ‎07-21-2009
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Re: Advice for first app spree/portfolio

[ Edited ]

You portfolio looks solid.. Its safe to assume that your fico score would be very similar to those fakos.

 

You should go for the BCP and PRG .. No need waiting 13months.

EQ 772
TU 764
Valued Member
Posts: 35
Registered: ‎02-24-2013
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Re: Advice for first app spree/portfolio


improvingmycredit wrote:

Simply827 wrote:

It would be more advantageous to apply for the "prefered" cards so that you will get the sign on bonus. A product change likely won't allow you to take advantage of the bonuses. If the preferred cards are what you want then just app with those.

 

 

Any scores you got from the EQ and TU sites are NOT FICO scores. You can get your true FICOs from this site.


+1. Get your true FICO scores from here.  FAKOS can be all over the place and are not reliable.  I suspect though with your listed profile, your FICO should be pretty healthy.  Most CUs pull EQ for their credit products so I think if would be advantageous to you to go ahead and get that CLI and let it report.  As Simply827 stated, app the cards you really want, don't plan a PC later and lose the sign on bonuses when you are probably good to go already.  I'd still wait till after a CLI reports to get the highest possible starting limits.


If the CLI is a HP, should I still do it? I was thinking the inquiry would hurt my approval chances more than help, even if it's at $10k?

Valued Contributor
Posts: 1,072
Registered: ‎02-06-2013
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Re: Advice for first app spree/portfolio

    I would recommend going straight to the prime cards not trying to hop to a subprime first. Assuming yours scores have some resemblance to a real FICO score then you should be in good shape. I wouldn't expect huge credit limits cause your income isn't super high but that doesn't matter. All of those cards are good and you can grow with them. Good luck. I think you have a great chance and that you should apply all at once for however many you settle on.

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