After severely messing up my credit three years ago (two major baddies of 120 days late on one card, 90 days late on another, now both closed), I've been leaning towards getting a rewards card. I've been looking at the Discover More card as well as the Citi Dividend Platinum Select. Also in consideration is the Citi mtvU card as I'm about to go back to school and that card has a decent rewards system for student type purchases.
I currently have four CCs, 3 Cap Ones and a WAMU that I just opened last October. My current util. is about 17% and my credit history is 8 years, with an avg. account age of 5 years. I have 3 inq. in the last 2 years all on TU with one about to age to a year over the next week or so and another one to fall off next month. Also on TU is a collection ($137 added 03/06) that I'm trying to get removed.
My EQ Fico is 730, EX is 719. I don't have a clue what my TU Fico is, but my WAMU PFico for TU has been 662 for the last four months despite a nearly 11% drop in util. over that time, and my TU FAKO is holding steady at 712 (my FICOs/FAKOs usually differ by about 30-35 points).
I'm considering holding off on applying until next month to give my scores a chance to rise again because of lowered utilization as well as the WAMU card aging and that other inq. falling off. I also don't know which one(s) I should apply for. Suggestions anyone?
Also, does anyone know what Discover and Citi pull in NJ?
I think it's generally agreed that Discover is a hard card to get. Your FICO scores are good, but those lates may not sit very well with them, even though they are three years old. Discover has been known to pull EQ and/or EX - yes, they sometimes pull both!
As for the Citi Dividend, I think you stand a fairly good chance of being approved. You have the FICO scores, but I'm not sure how the 3-year old lates will affect your chances. However, I still maintain that you should stand a fairly good chance for approval.
If you really want to apply for these cards soon, I would try to get utilization down to 1-9% for the next month and make sure you don't have a balance on any more than 3-4 accounts - it would be a shame to be denied for that.
Starting Score: EQ 773, TU 766 Current Score (2/25/2017): EX 813, EQ 823, TU 818 Goal Score: 800