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So I am going to apply for 4 credit cards next week. What are my chances for approval.
I have decent income also.
This is what my creditors will see.
Wells fargo visa -16bal / 300 cl 11-12 mo age
Sallie mae loan - 900/3200 1yr 6mo age
Salle mae loan - 400/1400 1yr 6mo age
DepEdu loan - 900/ 3200 6mo age
DepEdu loan -300 /1200 5mo-age.
AOA -11 months
My EQ FiCO is 743
My revolving utilz is 6%
I have 0 inquries on all 3 reports.
This is the cards I am going for:
Chase Freedom
Citi Divd MC
NFCU Visa
BOA or WF visa
Is it possible to be approved or should i aim for lower end cards?
Also with 0 inq which card should i go with first?
Is it possible to get higher then 1000cl with my history? (i'd be happy with 1500cl)
If i get approved for even 2 outa 4, Im gonna garden for atleast 1-2 years
Thanks for the help and I will keep you guys updated on my progress. So it might help others in the same boat as me.
Id apply for NFCU first. Hope they give you a great starting limit and wait a month for it to report. Then I would app with chase and citi. If you app now your likely to get 500-1000cl's
apply for them all at once so they won't see the inquiries since it takes atleast a day to post. You won't have to worry much unless your applying for 10+ cards then your asking for your cards to be shut down.
4-5 apps are fine and fly under the radar as long as it's not 4-5 apps with the same issuer like GECRB. Personally if you go on a mini app spree that's fine, but just don't be an idiot and go on a app-o-rama / drapping
If I apply with Navy to opening a checking can they use that same inq. to see if i qualify For a CC and possibly a Auto Loan within that same INQ. My brother is a member so I'm assuming i am eligible to join correct?
OP where are you located. We can give you a round about who pulls what idea. That way you can plan your inquiries
@uroosa1 wrote:If I apply with Navy to opening a checking can they use that same inq. to see if i qualify For a CC and possibly a Auto Loan within that same INQ. My brother is a member so I'm assuming i am eligible to join correct?
If your brother is a member then yes your eligible. They will HP you for membership. That will be on TU. For a cc it will be an additional HP on EQ. Another one for auto loan. They are trigger happy with HP's but they are worth it. NFCU makes HP's worth it!
@uroosa1 wrote:If I apply with Navy to opening a checking can they use that same inq. to see if i qualify For a CC and possibly a Auto Loan within that same INQ. My brother is a member so I'm assuming i am eligible to join correct?
Navy uses TU to open accounts and EQ for credit applications so you won't be able to do it from the same pull atleast from my experience and what I been hearing that's the norm. And yes family members make you eligible.
Also at the time of application for a credit card apply for NavChek. NavChek is a overdraft line of credit protection for your checking. Most will NEVER use it, but it reports as a credit card on your reports. It never gets canceled for inactivity, reports a super high limit to your credit reports (usually matches your credit card limit)
What it does is let's say you have $500 in your checking, and got approved for a $5,000 NavChek. If you really wanted you could write a check for $5,500 and it'll clear just fine. The deficit goes into your line of credit. Basically it's a on demand cash advance which is great. Interest rates are very good especially compared to other cash advances, Navy doesn't charge any extras at all.
I am located in NC. So it would greatly help to know which CC check what agency. But Your saying If i apply on same day with diffrent banks. They will all see 0 Inq when they pull report. Since Inquries only hurt for one year. I'm thinking of applying with 5 prime Companys then waiting atleast a year. also I would be eligible for CLI a few months down the road so even with 5 prime cards with 500-1000 cl is fine as long as the limits eventually will go up.
But its horrible that navy is gonna pull a hard on each product. So One for checking then another for CC, also a third for Auto. whats the point of doing 3 hard pulls in one day. So i have to get a Navy checking to get a Navy CC?
Is it worth applying for a amex? or am i talking crazy here with my short history.
@distantarray wrote:
@uroosa1 wrote:If I apply with Navy to opening a checking can they use that same inq. to see if i qualify For a CC and possibly a Auto Loan within that same INQ. My brother is a member so I'm assuming i am eligible to join correct?
Navy uses TU to open accounts and EQ for credit applications so you won't be able to do it from the same pull atleast from my experience and what I been hearing that's the norm. And yes family members make you eligible.
Also at the time of application for a credit card apply for NavChek. NavChek is a overdraft line of credit protection for your checking. Most will NEVER use it, but it reports as a credit card on your reports. It never gets canceled for inactivity, reports a super high limit to your credit reports (usually matches your credit card limit)
What it does is let's say you have $500 in your checking, and got approved for a $5,000 NavChek. If you really wanted you could write a check for $5,500 and it'll clear just fine. The deficit goes into your line of credit. Basically it's a on demand cash advance which is great. Interest rates are very good especially compared to other cash advances, Navy doesn't charge any extras at all.
+1 navcheck or overdraft line of credit is awesome
do you have any derogs on your reports?