Reply
Regular Contributor
Posts: 106
Registered: ‎04-06-2012
0

Re: How do I proceed? Garden or do I app for 1 more?


jeffj25 wrote:

 

KIPPIE12 wrote:

jeffj25 wrote:

Seems like the consensus is to wait. I guess I have the app itch, but I just feel like I need 1 more to make my collection complete. Is 31% a very high utilization? I did recon the chase card and was declined. I then recon the recon and was again declined. The lady said try again in 4-6 months when all my new accounts report. *sigh* 


Yeah, 31% is high for a new card generally speaking, you want it in the 1-9% range for optimal scoring points.  Anything here on out to 1 year, will more than likely result in denials.  Wait till then, work on the util, and grow the lines you have now. Your scores will be better off in the long run, and the inquiries won't count against you after a year FICO wise


 Generally speaking, do creditors care after six months  in regards to inquiries? 


The short answer is "yes".

 

Look... I read what you have listed in your wallet and I counted 12 cards? I may have double counted 1 or 2. What other card /category/vendor is there for you to app for?

Your AAofA is not all that high and you util is rather high. I may be wrong but I'm assuming that you are looking for that one card with a huge credit line (i.e. 10k+). Unfortunately, you dont have the numbers to justify that right now. Take a breather and enjoy the garden for a while (its actually a cool place to be). A few posters here have advised to take a year off. I would actually advise longer. You will be thankful in the future.

 

Senior Contributor
Posts: 6,260
Registered: ‎08-16-2012
0

Re: How do I proceed? Garden or do I app for 1 more?

That's arguable... I don't think they care as much after six months, but ideally you'd want all your inqs to fall off.
Marriott PR$25k | BCE $24.5K |BankAmericard Visa $25k| BOA Better Bal $17.5k |Wmt Discover $12.5k | BR Visa $17.5k | Amex Delta Gold $10k | Discover IT $10k | Paypal Extras MC $15k | Amazon Store $10k|Smile Gen $7.25k | Dillard's $10k | West Elm $4k| Express $3.05K | Mypoints.com Visa $4.5k | Freedom Visa $1k| Amex Surpass $1k
Valued Member
Posts: 28
Registered: ‎08-20-2012
0

Re: How do I proceed? Garden or do I app for 1 more?


tmbr10 wrote:

jeffj25 wrote:

 

KIPPIE12 wrote:

jeffj25 wrote:

Seems like the consensus is to wait. I guess I have the app itch, but I just feel like I need 1 more to make my collection complete. Is 31% a very high utilization? I did recon the chase card and was declined. I then recon the recon and was again declined. The lady said try again in 4-6 months when all my new accounts report. *sigh* 


Yeah, 31% is high for a new card generally speaking, you want it in the 1-9% range for optimal scoring points.  Anything here on out to 1 year, will more than likely result in denials.  Wait till then, work on the util, and grow the lines you have now. Your scores will be better off in the long run, and the inquiries won't count against you after a year FICO wise


 Generally speaking, do creditors care after six months  in regards to inquiries? 


The short answer is "yes".

 

Look... I read what you have listed in your wallet and I counted 12 cards? I may have double counted 1 or 2. What other card /category/vendor is there for you to app for?

Your AAofA is not all that high and you util is rather high. I may be wrong but I'm assuming that you are looking for that one card with a huge credit line (i.e. 10k+). Unfortunately, you dont have the numbers to justify that right now. Take a breather and enjoy the garden for a while (its actually a cool place to be). A few posters here have advised to take a year off. I would actually advise longer. You will be thankful in the future.

 


 

Honestly. You are correct. I think I knew this, but NEEDED to hear it. So the plan is: Garden, soft pull CLI when I can, and go from here. Thanks everyone. Sometimes you just need to hear what you already know. 

Starting Score: TU - 684 EQ- 639
Current Score: TU- 701 EQ- 715 EX- 701 from AMEX
Goal Score: 750 across the board
In my Wallet: Chase Sapphire Preferred - 5K, Chase Freedom - 4.5K, 1FBUSA - 2.4K, Walmart Discover -3K, Blue Sky Amex - 2K, Citi CashReturns - 1.5K, American Express PRG and Zync - NPSL, Delta Skymiles Amex - 1K, Discover More - 1.5K,ValuCity Furniture - 3.5K, CareCredit - 2.3K, A and F - 1.2K, Capital one - 1.25K and $750.
Valued Contributor
Posts: 3,099
Registered: ‎10-02-2012
0

Re: How do I proceed? Garden or do I app for 1 more?


jeffj25 wrote:

Hello all! I need some help with my current situation. I am looking to get into the garden very soon, but I am not sure if there is anything else I should do before entering the garden. I feel like I need one more card and then I will be complete for a while. I plan to garden in order to allow my credit limits to grow and to allow my inquiries fall off. I am currently switching between my freedom card, my discover, and my Amex cards. Would I be approved for any of the Blue cards from Amex or is it too early?

 

My stats are as follows:

 

55k+ annual income

7 yrs, 7 months old account

4 years for AAOA

9 inquires in the last six months (I think this may be a problem)

31% utilization 

0 baddies

 

Accounts opened in the past 2 months:

Discover IT, Zync, Amex PRG, Delta Skymiles Gold, Upgrade from Store card Walmart to Discover Walmart

 

I recently applied for the Chase Amazon Visa, but was denied due to the amount of inquires. 

 


No more new accounts for atleast 6 months. Too many INQ's and your utilization high.

 

Too many INQs & low AAoA so I'm off to tend the Garden.     Age:23    


     $17k       $8.5K          Closed          $19k      $6.5k        $24.2k        Closed         $5k       Closed     $8.5k        Closed      @2.49%
Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
† Credit cards for FICO Score ranges: The score ranges are guidelines based on actual applicant approvals and having a FICO Score in a particular range does not guarantee you will be approved for credit cards recommended in that range.

Copyright ©2001-2015 Fair Isaac Corporation. All rights reserved.   | Terms of Use | Privacy Policy | Sitemap

IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more

FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.