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New Member
Posts: 2
Registered: ‎09-14-2013
0

CL on new card depending on Credit Score?

Hi,


I was thinking of applying for a Discover IT card (only because I don't have a Discover card yet), but I can't decide on whether or not I should wait before applying for it.

 

I recently had to make a lot of purchases on one of my cards, which brought my overall credit usage to around 35%, the highest it has ever been.

 

 

My real question is will a credit usage of 35% impact the CL that a card issuer will be willing to give me?

If I wait until next month, when a lower balance will be reported, will the issuer give me a higher CL?

 

My Transunion score is: 754 (usually around 760)

My Vantagescore is: 746 (usually around 765-775)

 

Thanks!

Moderator
Posts: 26,788
Registered: ‎09-13-2012
0

Re: CL on new card depending on Credit Score?

Welcome to the forum! Conventional wisdom is to wait until your CR's are pristine - meaning a lower util. Discover can be all over the place with their starting CL's and although your CS is good you might receiver less than stellar terms. Do you happen to know your EQ score! What are your limits on the other cards? What's your AAOA?
New Member
Posts: 2
Registered: ‎09-14-2013
0

Re: CL on new card depending on Credit Score?

I just checked my EQ score and it dropped to 701 (actually, it's the first time I've ever checked it, so I'm not sure what it used to be), probably due to the 35% util.

 

My limits are:

$7,500

$3,000

$1,800

NPSL

TOTAL: $12,300+NPSL

 

AAoA is 1 year, but my oldest account is only 2 years old, so that is not too bad IMO.

Moderator
Posts: 26,788
Registered: ‎09-13-2012
0

Re: CL on new card depending on Credit Score?

I'd wait until your util is lower. If you can't or don't want to wait, good luck
Senior Contributor
Posts: 6,242
Registered: ‎08-16-2012
0

Re: CL on new card depending on Credit Score?

You would prob get a $2-5k cl initially w most issuers..
My scores are all about the same. I have higher limit cards, but a lot of lenders won't match that instantly.
My advice is to choose a lender that allows access to Credit Analysts.
For ex: I recently got instantly approved for a BankAmericard for $3500 w 694 Exp and 705 TU...
Called a Cred Analyst, got it raised to $10k.
Income will matter a lot as well
Marriott PR$25k | BCE $24.5K |BankAmericard Visa $25k| Wmt Discover $12.5k | BR Visa $12.5k | Amex Delta Gold $10k | Discover IT $10k | Paypal Extras MC $15k | Amazon Store $10k|Arrival $12.7k | Smile Gen $7.25k | Dillard's $10k | West Elm $4k| Express $3.05K | Mypoints.com Visa $4.5k | Freedom Visa $1k| Amex Surpass $1k

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