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Am I safe applying for new credit cards?

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myjourney
Super Contributor

Re: Am I safe applying for new credit cards?


@mohammadmoghimi wrote:

What is a prime card? Let me list what I have.

0. BofA Secure Card from Sep 2011 to Aug 2012 [CLOSED]

1. BofA Cash Rewards 5k

2. Chase Sapphire Pref 6.5k

3. Amex Blue Cash Everyday 5.5k

4. BofA Better Balance 2.5k

5. Chase Freedom 5k

6. Discover It 1.5k

 

Can someone explain what amex revolving is? I searched a little bit. It's a new concept to me? Do other banks offer it as well?

 

The reason for the Sony Card was the cash back. 200$ for 500$ spend in 3 months sounds incredible! Does the 3 pulls mean like 3 hard inquiries as if I applied for 3 different cards? I have heard people N credit inquiries in one month period act as only one. It shows one is shopping for loans or something. 

 


Welcome to the forum 

Seeing how you have so many new cards and a thin file why risk a denial?

Lets look at this a different way other than apply apply apply

Do any of the new cards have a promo of $0% for the next 8-12 months?

By doing this you don't take another HP lowering your scores and AAoA

Before you app think...
Have you done your research of the CC?
Does it fit your spending?
Do you have a plan for the bonus w/o going into debt?
Can you afford the AF?
Do you know the cards benefits? Is it worth the HP?
Message 11 of 33
mohammadmoghimi
Valued Member

Re: Am I safe applying for new credit cards?

Some of my cards might have 0% APR but like I said I don't carry a balance. My combined cl is 27000$ and my combined balance is 23.91$ as of now. I think the reason of having this score is not letting my cc utilization to go high. Is it true? 

Message 12 of 33
Creditaddict
Legendary Contributor

Re: Am I safe applying for new credit cards?

you all be silly keep talking about a denial.... OP averages over what $3-$4k and most over $5k... and is talking about a Citi and a cap1... I would lean towards Citi giving one of OP's highest CL's and cap1 is always a coin flip but REALLY... denial... come on people.

Message 13 of 33
myjourney
Super Contributor

Re: Am I safe applying for new credit cards?


@mohammadmoghimi wrote:

Some of my cards might have 0% APR but like I said I don't carry a balance. My combined cl is 27000$ and my combined balance is 23.91$ as of now. I think the reason of having this score is not letting my cc utilization to go high. Is it true? 


The balance you carry on this card or a new approval will have the same effect the difference being if you app a new card your scores will drop twice 

Once from the new HP and again when the new TL reports 

As long as UTL is under 20% if your not applying for new cards you'll be fine 

Before you app think...
Have you done your research of the CC?
Does it fit your spending?
Do you have a plan for the bonus w/o going into debt?
Can you afford the AF?
Do you know the cards benefits? Is it worth the HP?
Message 14 of 33
mohammadmoghimi
Valued Member

Re: Am I safe applying for new credit cards?

why do you say that cap1 in a coin flip?

Message 15 of 33
longtimelurker
Epic Contributor

Re: Am I safe applying for new credit cards?

And to answer the question about triple pulls:  Cap One (very) often will pull a report from each of the three main credit bureaus, creating three hard inquiries but only one per agency.   Different impact than pulling three times from one.

Message 16 of 33
myjourney
Super Contributor

Re: Am I safe applying for new credit cards?


@Creditaddict wrote:

you all be silly keep talking about a denial.... OP averages over what $3-$4k and most over $5k... and is talking about a Citi and a cap1... I would lean towards Citi giving one of OP's highest CL's and cap1 is always a coin flip but REALLY... denial... come on people.


Anyone is subject to a denial didn't you just have a few?

OP has a thin new file with all new cards and i'm sure a very short AAoA 

My guess would be less than a year 

Why suggest OP take a HP when it's not needed really for a 50/50 chance of approval?

IMHO you don't have to live with the HP for the next 2 years now do you but OP does based on what your saying?

So be objective and offer all avenues CA not bias as to your viewsSmiley LOL

Before you app think...
Have you done your research of the CC?
Does it fit your spending?
Do you have a plan for the bonus w/o going into debt?
Can you afford the AF?
Do you know the cards benefits? Is it worth the HP?
Message 17 of 33
longtimelurker
Epic Contributor

Re: Am I safe applying for new credit cards?


@mohammadmoghimi wrote:

 

 

I have another credit card in mind which is Citi Prestige which I want to get in Spring for my international travel in Summer (their companion ticket worths the annual fee for me).  Should I not get any other credit card to let my credit history rest a little bit?

 


Just saw this bit.   If the Prestige is important (to get the companion ticket) then maybe do rest until you apply for that.   Citi is fairly hard to predict and might worry about too many inquiries, or, as credictaddict suggests, have no problem and give you a high credit limit.   Might at least partly depend on your income, if your current exposure if low compared to income, the worry would be less.

Message 18 of 33
09Lexie
Moderator Emerita

Re: Am I safe applying for new credit cards?


@mohammadmoghimi wrote:

What is a prime card? Let me list what I have.

0. BofA Secure Card from Sep 2011 to Aug 2012 [CLOSED]

1. BofA Cash Rewards 5k

2. Chase Sapphire Pref 6.5k

3. Amex Blue Cash Everyday 5.5k

4. BofA Better Balance 2.5k

5. Chase Freedom 5k

6. Discover It 1.5k

 

Can someone explain what amex revolving is? I searched a little bit. It's a new concept to me? Do other banks offer it as well?

 

The reason for the Sony Card was the cash back. 200$ for 500$ spend in 3 months sounds incredible! Does the 3 pulls mean like 3 hard inquiries as if I applied for 3 different cards? I have heard people N credit inquiries in one month period act as only one. It shows one is shopping for loans or something. 

 


Welcome to the forum.  I noticed that you have an Amex revolver, have you asked for a CLI? Assuming you've had the account open for at least 61 days, you are eligible for a CLI of up to 3x.

Message 19 of 33
credit-hunter
Frequent Contributor

Re: Am I safe applying for new credit cards?


@09Lexie wrote:

@mohammadmoghimi wrote:

What is a prime card? Let me list what I have.

0. BofA Secure Card from Sep 2011 to Aug 2012 [CLOSED]

1. BofA Cash Rewards 5k

2. Chase Sapphire Pref 6.5k

3. Amex Blue Cash Everyday 5.5k

4. BofA Better Balance 2.5k

5. Chase Freedom 5k

6. Discover It 1.5k

 

Can someone explain what amex revolving is? I searched a little bit. It's a new concept to me? Do other banks offer it as well?

 

The reason for the Sony Card was the cash back. 200$ for 500$ spend in 3 months sounds incredible! Does the 3 pulls mean like 3 hard inquiries as if I applied for 3 different cards? I have heard people N credit inquiries in one month period act as only one. It shows one is shopping for loans or something. 

 


Welcome to the forum.  I noticed that you have an Amex revolver, have you asked for a CLI? Assuming you've had the account open for at least 61 days, you are eligible for a CLI of up to 3x.



Its amazing the help members get on this forum I'm glad I joined.


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Message 20 of 33
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