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App Spree Timing

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joe867
Valued Member

App Spree Timing

After deciding to put off refinancing my house for at least a year I decided to try my lukc at an app spree. My only app in the last 12 months was for NFCU Cash Rewards which I got an instant 15k approval for about 2 weeks ago. The new card hasn't hit my reports yet. Should I wait until it shows up or should I just go for it?

 

My spree will probably include the following:

PenFed Platinum Rewards

Amex BCP

CSP

Citi Forward

 

Thanks in advance

EX 761 (5/14); EQ 784 (4/14); TU 778 (5/14)

NFCU cashRewards 23k | Marriott Premier MC 18k | US Bank Club Carlson 15k | Amex BCP 14.3k | Citi AA Exec 13k | Barclays US Airways 10k | PSECU 7.5k | Amex SPG 7k | Amex Old Blue Cash 5k | Chase Sapphire 5k | Ink Plus 5k | PenFed Platinum Rewards 5k | PenFed Defender 5k | PenFed LOC 5k | Gap 4300 | Amex SPG Biz | Amazon Chase 500 |
Message 1 of 8
7 REPLIES 7
BearsAndTurtlesRtheBest
Senior Contributor

Re: App Spree Timing

Id say wait unti it reports, by doing so your chances of getting approved are HUGE. I say wait. Smiley Happy

Discover IT $2,600- First Premier MasterCard $1,000- Dillards Store Card $300- Fingerhut Advantage $200
Chapter 7 BK Dischagred on 07/11/16. Gardening Since 01/17/2019
Message 2 of 8
kwinks
Regular Contributor

Re: App Spree Timing

I would also wait as that would help you a lot when getting the csp. 

Message 3 of 8
_jb_
Frequent Contributor

Re: App Spree Timing

I think you will be fine either way. Keep in mind that some companies (AmEx I think) don't like to see recent inquiries, so it might be better to apply for some of them before the NFCU reports. On the other hand, the high limit will help the other cards give you higher limits. I don't think it will matter in the end though with your scores.



Starting Scores: myFICO EQ: 678, myFICO TU: 676, myFICO EX: 678 (01/2013)
Latest Scores: myFICO EQ: 789, myFICO TU: 782, myFICO EX: 788
My Wallet: American Express BCE, NFCU cashRewards, Capital One Quicksilver, Discover It, Chase Freedom, Chase Amazon Rewards
Gardening since 02/07/17
Message 4 of 8
chnceit
Valued Contributor

Re: App Spree Timing

^^^I think Chase doesnt like seeing recent inquires also

Last Pulled EQ: 809
Last Credit Card App: 02/05/2016
Last CLI: 02/06/2016
Find Me: Gardening
Message 5 of 8
SnackTrader
Valued Contributor

Re: App Spree Timing

In my opinion, you should go for it now. Showing a new account with no history of responsible usage won't really help you, regardless of credit line. It would be very different if you had 12 months with that tradeline. Anyway, I don't know enough about your credit to comment on your chances, but you obviously look good to NFCU right now, so there's always a possibility other lenders will agree. I say use the current profile to your advantage and then sit in that garden until that refi.


Also - rates are still low on mortgages right now, but always have the potential of changing for the worse over a 12 month span. Get the applications over with, and then start monitoring interest rates so that you can adjust your refinancing plan according to interest rate changes. Just a suggestion.

In My Wallet: Amex BCP (12/12) $50,000, Chase Freedom (12/12) $16,500, Cap1 Quicksilver (6/12) $14,000, Barclaycard Rewards (5/13) $10,500, Citi Prestige (4/16) $30,000

Last App: June 27, 2015
Message 6 of 8
Croselx
Contributor

Re: App Spree Timing

If you wait for it to report your AAoA will go down, possibly lowering your score. If you are going to app anyway I would do it now . Start with most wanted to least (or most inquiry sensitive to least).

 

As for refi, if it saves you money do it. You can always app for the cards later on.

As of Feb: AAoA 1 year, 10 months
CK TU: 740; Wal-Mart TU FICO: 721
CS EX: 715
8 CCs, 15 total accounts.
Negs on report: 1 30 day late aged 3 years
5 inquiries
Message 7 of 8
joe867
Valued Member

Re: App Spree Timing

Thanks for the input. The reason I'm holdin off on the refi is because my LTV is still high since it is only 13 months old. I'm ok with waiting because I don't have a lot of choice without going too far backwards.

EX 761 (5/14); EQ 784 (4/14); TU 778 (5/14)

NFCU cashRewards 23k | Marriott Premier MC 18k | US Bank Club Carlson 15k | Amex BCP 14.3k | Citi AA Exec 13k | Barclays US Airways 10k | PSECU 7.5k | Amex SPG 7k | Amex Old Blue Cash 5k | Chase Sapphire 5k | Ink Plus 5k | PenFed Platinum Rewards 5k | PenFed Defender 5k | PenFed LOC 5k | Gap 4300 | Amex SPG Biz | Amazon Chase 500 |
Message 8 of 8
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