How Long to Wait before applying for New Card?

[Anonymous]

Hi Everyone!

Building history for my family member and need your advice on when to apply for a new CC.

Her scores are 706-708.

I opened Amex BCE about 6 month ago, everything going good here. 5k limit.

Last week applied for Amex SPG, got 5K limit, awaiting it in the mail.

I want to apply for one more card from Cap 1 or Dis.

Statement cut date was on the 11/13. 

New SPG is still not showing up on reports.

Should I wait new SPG card, activate it, wait until it shows up on reports and than apply for new card or it would be better to apply before we actualy activate SPG card?

Simulator shows that with new SPG activation, her score should jump, so may be it would be the best to wait until it does?

On the other hand Im concerned of geting lower limit if they see new card was just added before we applied for another.

As always appreciate all of your advices!

Thanks!

[Anonymous]

It's safe to go for the Disco now. Amex probably pulled Ex and Disco will probably pull TU or EQ, so they won't see the Amex HP. Check for a preapproval first, but a cold app should be safe is util on the BCE is low.

Disco will grow with SP's, so getting a low SL isn't necesarilly a bad thing with them. Look at my siggy... that started at $600.

[bourgogne]

not an answer per say but how many cards in total does she have beside the 2?  if she has 2 $5K cards that I cannot see what either cap1 or discover add to the mix, they are mostly for rebuilders imo and she is past that.  maybe consider a card from chase or a card with some utility that matches the users goals of either miles, points or cash.  also consider nfcu or penfed for stability in the mix.  is the objective to raise her score?  does she have a loan in place?  if not, do an ssl.  credit is very much a what if sort of deal

edit: just waking up, where are those scores from?  if not true fico 8s pull a creditchecktotal for a buck and cancel on the spot

[601flyguy]

If you plan to get another card, do it before the new amex account reports. I would add the ssl to the mix as well. Then back to the garden for 6 months.

[Anonymous]

She has just these 2 cards. Im open to Chase as well, but was thinking they would give the smallest SL comparing to Cap 1 or Disc. Please correct me If Im wrong, as Im still learning as well. Not sure how get into nfcu but penfed sounds like a possibily as well!

The obejctive is to increase the score as well as available credit.

Did not think about SSL as was thinking it will dsrop her score for a few points.

Thanks!

[bourgogne]

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@Anonymous wrote:

She has just these 2 cards. Im open to Chase as well, but was thinking they would give the smallest SL comparing to Cap 1 or Disc. Please correct me If Im wrong, as Im still learning as well. Not sure how get into nfcu but penfed sounds like a possibily as well!

The obejctive is to increase the score as well as available credit.

Did not think about SSL as was thinking it will dsrop her score for a few points.

Thanks!

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you throught wrong.  you are leaving possibly ~15-30pts on the table without a loan reporting.  big credit lines are overrated, pay on time, never be late and have low util and time will take care of the rest. I think chase is tops but opinions vary.