Greets forum. CreditMagic7 here.
As of the first of the year and following a somewhat calculated beginners app spree i managed to procure for lack of a better term, DiscoverIT, Citi, GM Capital One + 2 gecrb cc's with 3 Comenity retail catalog cards ending 2013 with a nice Duck card. Even after that i had sights for a Chase and thought about trying to land Amex for good measure but didn't want to press my chances too much since all the aforementioned were approvals with not a single denial. A foot in the door if you will.
After this seasonal spree and per Experian the current AAoA they show is only 7 months which made me skiddish and put on the app brakes at the point where i nearly pulled the trigger on a BofA and Comenity Frn MasterCard. Lowes was also on my list but given the excellent reads i been pouring thru here at MyFico i need advice if i should just allow time for the newbie cards to put on some 6 month age first or if my Feb chances might reel in at least 2 additional cards i intend to add at some point.
There's no lates, BK, or derogs period. I am Just what i consider a new entry into the revolving credit world. Credit history extends back to only roughly 2010 with auto loans and unsecured personals that i'm on my 4th open one current.
I safely tested the Experian AAoA report by requesting cl increases after getting Walmart card in the mail and a couple of Comenity with SP only stating " too new accounts" etc. which IS accurate at this point in time. I think i don't dare risk a wasted HP that could result in an easy denial for any of them, even with recon?
Problem for me is that discover card 6 month comes in early February (10), and as much as i would like to let them HP for a cli, i'm not at all certain if i should yet or not. Discover started me at 1400 and the high balance i let it report was 499 then zeroed it after that. I've also zeroed Citi Diamond for 2 months now. And GM Capital One gets zeroed as soon as my BT is received from Occu. That leaves my US Bank Platinum holding a balance by design from me because it's my first cc offered when i decided to not rebuild but Build a solid credit portfolio. It's just passed 1 year in Dec. US Bank did deny with HP at the 1 year mark citing what i received in the letter, too new accounts, etc. even with 2 recons.
My question now then becomes is the still very young AAoA more of new lender's hesitation as opposed to too many new accounts-score, or a combo of both and more.
US Bank recon said they need to see at least 6 months from the recent new accounts first before they will make a consideration and i completely understand that, but after that denial i still went on a mini spree of sorts one of which was the Duck approval.
Any thoughts? Suggestions? Opinions?
I value this forum and membership highly. It's helped immensely in starting a new fresh path to credit responsibility and understanding.
Ex (715) Tu Classic 04 (679) EQ (649)
I think my scores have dinged with new IQ,s, new TL,s but not sure if bottomed out yet.
Thanks
