Applying with my Credit Scores….

[gettingthere2013]

I have a huge discrepancy between Myfico TU (601) and Myfico EQ (667) scores, both scores show my one credit card with a 72% utility rate but that card was paid down to 12% and should reflect that on my next statement next week.  My last lender pull was at the beginning of May and my TU was 631, EQ was 639 and EX was 645, so can I assume that my other scores have also gone up like my EQ score that shows on Myfico?

I know that Myfico TU score isn’t the same as what the lender will pull, but how about CC companies?  I think my EQ score should be hovering closer to 700 next week.  What are my chances of getting that Discover IT card that I keep receiving offers for and also maybe the Chase Freedom?

I also had a collection on my TU account that was showing unpaid completely deleted off of my report this week , should have never been on there.  Will that help my score?

Happy to answer any questions, and would love feedback.

[mnavas]

Your approval odds for the Discover it are good assuming that your EQ will be close to 700...keep in mind that they might choose to double pull (EQ + TU) Just don't expect a huge CL they usually pretty consevative with CLs but their underwiting criteria is easier to meet than Chase

[gettingthere2013]

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@mnavas wrote:
Your approval odds for the Discover it are good assuming that your EQ will be close to 700...keep in mind that they might choose to double pull (EQ + TU) Just don't expect a huge CL they usually pretty consevative with CLs but their underwiting criteria is easier to meet than Chase

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Thanks for the response, I'm hoping the lower utilization will help boost that score.  I've been an AU on a couple of Chase cards do you think that would help with an approval, never any lates or missed payments on those cards.  What about Citi?

[mnavas]

Usually Chase and Bank of America disregard AUs while evaluating your Application.. Discover seems to not care whether your tradelines are yours or just AUs (my friend got approved for a Discover it with 2 AUs tradelines and none his) As for CITI, i believe they're way harder to get approved for their cards than Chase (freedom) plus Citi is very inquiry sensitive there are been some people reporting they've been declined by CITI with 750 + scores just for the hard inquiries showing in their reports

[gettingthere2013]

Wow, I have around 6 or 7 inq in the last 6 months but one is for a CC and the others are all for mortgages.  Over the last year I have several more, but they are for car loans and mortgages again.  I have very few CC Inq my report over the last couple of years, mostly mortgag and car loan shopping.

[mnavas]

Since the Application is evaluated by a computer, there might not be a way for them to distinguish whether your inquiries are for Mortgage or for credit cards.. N therefore you might get a denial for too many inquiries (i've heard 3+ inquiries in a 6 month period are too many for CITI) You may be able to recon thou by calling the backdoor number listed on this forum and talk to a credit analyst and explain most of your inquiries are for mortgages but CITI isn't good when it comes to recon.. So i believe you have a better shot applying for Discover it and maybe Chase freedom (i've heard they're pretty good with recons)

[gettingthere2013]

Mnavas, thanks for the response I think that is the route I will go.

[mnavas]

You're welcome! And please if you decide to pull the trigger soon, let us know about the outcome Good luck!

[LS2982]

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@gettingthere2013 wrote:

I have a huge discrepancy between Myfico TU (601) and Myfico EQ (667) scores, both scores show my one credit card with a 72% utility rate but that card was paid down to 12% and should reflect that on my next statement next week.  My last lender pull was at the beginning of May and my TU was 631, EQ was 639 and EX was 645, so can I assume that my other scores have also gone up like my EQ score that shows on Myfico?

I know that Myfico TU score isn’t the same as what the lender will pull, but how about CC companies?  I think my EQ score should be hovering closer to 700 next week.  What are my chances of getting that Discover IT card that I keep receiving offers for and also maybe the Chase Freedom?

I also had a collection on my TU account that was showing unpaid completely deleted off of my report this week , should have never been on there.  Will that help my score?

Happy to answer any questions, and would love feedback.

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I would go for the Discover over the Freedom. Better chance of approval.

[gettingthere2013]

I was getting excited about the Chase card after reading all the post on here about people get approved. I need/want to add more than one card, any suggestions besides the Chase Freedom card?