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Valued Contributor
ngerasimatos
Posts: 1,278
Registered: ‎06-01-2007

Considering pulling the trigger....

Current FICO for TU is 768 and only 3 INQ showing. I am thinking about pulling the trigger and applying for a Discover More card, just to have it for the future.

 

I dont want to apply if there is even a remote chance of denial, and I do have a couple recent accounts that are only a few months old and 2 accounts that aren't even appearing yet, but will within the next few months. Hence why I am thinking I should apply now, before they show and drop my score a bit.

 

Should I wait, or should I just "man up" and go for it? I am trying to get all of my applications out of the way as I am going to be purchasing my home middle next year and want to grow my AAoA over the next 12 months and then just let everything simmer and grow.

Try not to become a man of success but rather to become a man of value
Albert Einstein 1879 - 1955

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Frequent Contributor
writemikep
Posts: 277
Registered: ‎10-21-2008

Re: Considering pulling the trigger....

I'd reconsider apping.  If you don't need the credit card, I would wait til after you get the mortgage.  Your AAoA will have grown by then and all your current accounts will be another year older.  If you need the card now tho, that's a different story.

Valued Contributor
ngerasimatos
Posts: 1,278
Registered: ‎06-01-2007

Re: Considering pulling the trigger....

Dont really need it. I just figure it would be good to have so that once I get the house, I have cards to use for adding my goodies/modifications to it. I guess I can wait till I get the mortgage and then get a couple cards or something. 

 

I really want to install a big fish tank in the living room, preferably separating the living room and the kitchen. Its going to cost a dang fortune though. *sigh*

Try not to become a man of success but rather to become a man of value
Albert Einstein 1879 - 1955

700 Club
Frequent Contributor
writemikep
Posts: 277
Registered: ‎10-21-2008

Re: Considering pulling the trigger....

For something like that (a specific big, future purchase, like a down payment on a car, or next year's vacation...), I'd try to put some money aside each month to cover it (or a big chunk of it).

 

It might actually be easier to get approved for Discover after you have the mortgage, but I don't know that for sure.  Maybe someone else can comment on that.

Established Contributor
KIPPIE12
Posts: 619
Registered: ‎05-09-2009

Re: Considering pulling the trigger....


writemikep wrote:

For something like that (a specific big, future purchase, like a down payment on a car, or next year's vacation...), I'd try to put some money aside each month to cover it (or a big chunk of it).

 

It might actually be easier to get approved for Discover after you have the mortgage, but I don't know that for sure.  Maybe someone else can comment on that.


Well, if you don't currently have a mortgage, i'd wait for the mortgage to start reporting.  Might show a better mix of credit as well for Discover.  I know that when i had to call in after apping for it, they reviewed my tradelines and mortgage over the phone before approving me.

Current Score: EQ: 781 TU: 798 EX: 802 (Fico) 8/13
Goal Scores: 760 Across all 3-Finally


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