Credit Cards Center Credit cards from our partners
Reply
New Member
Posts: 8
Registered: ‎03-04-2013
0

Big Discover IT CL...Garden or App?

Ok so new guy here, might have seen my other post regarding my IT approval for $6,000 today.

 

I have a question as the best way to move forward and plan my FICO building journey.

 

Before today I only had 1 open cc account...... it is a Cap 1 Platinum with a $300 limit. I have been auto PIF for the last 9 months but because I use it a lot (trying to rebuild) I am always near the limit.

 

I also have 1 closed Chase account from 2008-ish they shut me down after a couple lates (1 60 day) and only paying minimum payment. That was  $2500 limit and I currently owe $884.

 

My goal is to BT the Chase account to my new Discover so I can pay that off without the interest.

 

My real question is , should I try applying for another Prime card somewhere now or wait a couple months.  I only have the 1 inquiry  on my report from Discover right now.

 

So do I apply for another card or 2 to help my credit UTL?   Or garden the Cap 1 and Discover for at least a couple months?

 

Also should I apply for a CLI on the Cap1?

 

 

My Stats:

myFico: 673 Income: $40K

Valued Contributor
Posts: 1,607
Registered: ‎09-15-2012
0

Re: Big Discover IT CL...Garden or App?

Wait a few months. With a $6,000 line reporting more lenders may be willing to extend you similar lines. Applying now with your limited positive history, you would be unlikely to replicate the Discover approval. 


In My Wallet: Amex BCP (12/12) $32,000, Chase Freedom (12/12) $16,500, Citi Forward (12/12) $14,600, Cap1 Quicksilver (6/12) $14,000, Barclaycard Rewards (5/13) $10,500, Citi Thank You Premier (6/15) $6,800

Last App: June 27, 2015
New Member
Posts: 8
Registered: ‎03-04-2013
0

Re: Big Discover IT CL...Garden or App?

Thanks SnackTracker....I think  I knew that was the best course of action, I just needed someone wiser than me to tell me. Smiley Wink

Valued Contributor
Posts: 1,607
Registered: ‎09-15-2012
0

Re: Big Discover IT CL...Garden or App?

Anytime! I think you did yourself a big favor by getting that Discover, and 6 months from now with some of that debt paid down you will be in a fantastic position for some more cards. 


In My Wallet: Amex BCP (12/12) $32,000, Chase Freedom (12/12) $16,500, Citi Forward (12/12) $14,600, Cap1 Quicksilver (6/12) $14,000, Barclaycard Rewards (5/13) $10,500, Citi Thank You Premier (6/15) $6,800

Last App: June 27, 2015
Moderator
Posts: 27,207
Registered: ‎09-13-2012
0

Re: Big Discover IT CL...Garden or App?

Senior Contributor
Posts: 6,279
Registered: ‎08-16-2012
0

Re: Big Discover IT CL...Garden or App?

Congrats!!!!
Marriott PR$25k | BCE $24.5K |BankAmericard Visa $25k| BOA Better Bal $17.5k |Wmt Discover $12.5k | BR Visa $17.5k | Amex Delta Gold $10k | Discover IT $10k | Paypal Extras MC $15k | Amazon Store $10k|Smile Gen $7.25k | Dillard's $10k | West Elm $4k| Express $3.05K | Mypoints.com Visa $4.5k | Freedom Visa $1k| Amex Surpass $1k
Highlighted
Established Contributor
Posts: 955
Registered: ‎02-02-2013
0

Re: Big Discover IT CL...Garden or App?

Congrats!! 

 

Snack is totally right. 

There is also a chance that you might see a couple preapproved offers with that Discover reporting.  Keep the util low and in a few months check your reports and scores for a couple cards you might want to add. 

 

Smiley Happy


NFCU #1 Fan!! NO MOAR APPS TIL 10/13 Minimum!!
TU -746, EX - 721, EQ -745
Cards:NFCU Flag Visa Sig $10000, CSP $8500, AMEX BCP $2000 Freedom $3500, Disc IT $5000, Cap 1 Green $2100, Credit 1 CLOSED! AU on Amex Green, Discover $2000, Cap One Plat $1000
Valued Contributor
Posts: 1,486
Registered: ‎08-30-2011
0

Re: Big Discover IT CL...Garden or App?


SnackTrader wrote:

Wait a few months. With a $6,000 line reporting more lenders may be willing to extend you similar lines. Applying now with your limited positive history, you would be unlikely to replicate the Discover approval. 


+1 Excellent advice! 

 

Gardening it will result in a rather healthy yield come harvest time in the fall!  Smiley Happy  Give yourself that time, pull your scores, and then evaluate where you want to go from there. 

Diners Club Premier MasterCard $50K / AMEX Gold NPSL / AMEX Zync NPSL / AMEX Blue Cash Preferred $14K / Bank of America Cash Rewards Signature Visa $15K / Merrill Lynch Plus Signature Visa $15K / Wells Fargo Propel 365 $15K / Chase Sapphire Preferred Signature Visa $10K / J P Morgan Select Signature Visa $10.5K / CITI Diamond Preferred MasterCard $13.2K / Discover IT $10.5K / IberiaBank Select Visa $8K / 1st Command Bank Platinum Visa $7.5K // Home Depot $9.7K / Lowes $10K

EX = 818 EQ = 823 TU = 822 as of 07/15
Senior Contributor
Posts: 6,279
Registered: ‎08-16-2012
0

Re: Big Discover IT CL...Garden or App?

Amex might even approve you in a few months' time with that nice Discover CL reporting!:-)
Marriott PR$25k | BCE $24.5K |BankAmericard Visa $25k| BOA Better Bal $17.5k |Wmt Discover $12.5k | BR Visa $17.5k | Amex Delta Gold $10k | Discover IT $10k | Paypal Extras MC $15k | Amazon Store $10k|Smile Gen $7.25k | Dillard's $10k | West Elm $4k| Express $3.05K | Mypoints.com Visa $4.5k | Freedom Visa $1k| Amex Surpass $1k
Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
† Credit cards for FICO Score ranges: The score ranges are guidelines based on actual applicant approvals and having a FICO Score in a particular range does not guarantee you will be approved for credit cards recommended in that range.

Copyright ©2001-2015 Fair Isaac Corporation. All rights reserved.   | Terms of Use | Privacy Policy | Sitemap

IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more

FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.