Credit Cards

[DrJekyll]

Finally have seen the fruit of my labors.  Last negative dropped off all 3 CR's.  Haven't ponied up the $20 bucks to check EQ FICO score yet (hence I have yet to update EQ in sig), but my credit watch through Discover card shows its off EQ report.  So with all scores now above 750, I am trying to decide what CC to add and when.

I currently have a 6 yr old Chase Slate with a $1500 CL and a less than 1 month old Discover Motiva with a $11500 CL.  New Discover has yet to report on CR.  I currently have only 1 inq on each CR.  I was thinking of adding one more card this year.  Because of backdating and my spending habits (mainly groceries and gas), I am leaning towards Amex Blue Cash Preferred.  Would it better to go ahead and apply before Discover hits and lowers my AAoA a little bit, or will they see the Discover inq and no Discover tradeline and assume I was denied?

Any thoughts?

[Repo-ed]

That's awesome.  Grats.

[boomhower]

They know there is a lag between INQ and reporting.  But if the Discover INQ is on EQ Amex will never see it as they pull EX.  I'd go ahead an get the BCP now.  I'd also go ahead a get a good Vise or M/C rewards card.  Since you have a history with Chase a Freedom card would be good or branch out and try for something with Citi.

[LS2982]

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DrJekyll wrote:

Finally have seen the fruit of my labors.  Last negative dropped off all 3 CR's.  Haven't ponied up the $20 bucks to check EQ FICO score yet (hence I have yet to update EQ in sig), but my credit watch through Discover card shows its off EQ report.  So with all scores now above 750, I am trying to decide what CC to add and when.

I currently have a 6 yr old Chase Slate with a $1500 CL and a less than 1 month old Discover Motiva with a $11500 CL.  New Discover has yet to report on CR.  I currently have only 1 inq on each CR.  I was thinking of adding one more card this year.  Because of backdating and my spending habits (mainly groceries and gas), I am leaning towards Amex Blue Cash Preferred.  Would it better to go ahead and apply before Discover hits and lowers my AAoA a little bit, or will they see the Discover inq and no Discover tradeline and assume I was denied?

Any thoughts?

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Have you ever had an AMEX before??

If not, I would try for one of their charge cards first. Your scores fit the bill of a revolver (of course YMMV) but getting in with AMEX is alot easier starting off with a charge card. That's only IMO you may be able to get approved straight up for the BCP.

[DrJekyll]

No, I have never had an Amex before.  Although I PIF almost every month, I like the flexibility of a revolver (and the rewards are better for my spending).  But I understand your point.  

I had considered adding one more mc/visa this year, but was unsure how advisable it is to app for 3 cards in such a short period of time.

[FrugalRican]

If his scores are all 750 across the board, I'd say try for a BCE/BCP.

I did the same thing just a month ago with a slightly lower score.

He's almost guaranteed a Zync at least, but if he doesn't want a charge card, he'd definitely should at least try the AMEX revolvers.

[Repo-ed]

Amex - do eeeet

[frogfan12]

I agree, you should go for the BCP. You'd probably be surprised by the love AMEX shows you. I applied for a BCE with a score of 736 and a util of 20-25ish% and was approved with a $10K CL. I seriously almost fell out of my chair when the CR told me that. 

[blackstarhatch]

A big applause for your new scores! 

IMHO if you dont need the credit, dont app...I know that is going against the grain, but you just reached your 750, a little more gardening could yield some nice opportunities and higher scores.

[boomhower]

Skip the charge card unless you want one, your credit is good enough to go straight to a revolver.  Yours is better than mine when I was approved for BCP.