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Ok so here's my situation. I would LOVE an Old Navy Card BUT I want the Old Navy VISA card, not just the store card. I am thinking I should wait until my score is higher so that I can try to guarantee the visa attachment. I'm also considering the Discover card. Just wondering if I should wait or move forward. I'm assuming that waiting is best because I dont want a hard pull for a denial.
I have been working to rebuild credit (i actually had not had any new credit on my account since home loan was paid off in 2011, needed to get some revolving credit) but here are my "stats", if anyone could give me some advice it would be greatly appreciated!!
Equifax
Fico Score 8 - 643 (this number just doesn't seem to move no matter what I do)
35% total utilization
1 collection (paid but hasn't been removed yet)
10 inquiries
0 late payment
AAOA - 5 months
Transunion
Fico Score 8 - 679
35% total utilization
1 collection (paid but hasn't been removed yet)
6 inquiries
0 late payment
AAOA - 5 months
Experian
Fico Score 8 - 701
35% total utilization
0 collection
4 inquiries
0 late payment
AAOA - 5 months
My general rule of thumb is "if you have to ask, wait." In your case, your scores are high enough for the It card and probably the Old Navy Visa (but I know nothing about this) but your scores will take a dip if you apply for one or both of these cards. Also, anytime there is a chance to get a lesser tier card (Best Buy, Amazon, etc) I always want to have the odds heavily lean in my favor. When you do decide to apply for these cards, make sure it's within the same exact minute (have both pages open and filled out and then go from one to the other quickly). There's some question as to whether or not this actually helps but why take the chance? If you were to apply for one and wait a few days...you will likely not get approved or get a toy SL on the second one. You have to go both or you'll be disappointed...but I would wait another 6 months to let your AAOA and scores go up even more...but I'm paranoid and super conservative...I have 6 years of credit and just got my sixth card. I don't chase them...I get the ones I will get use out of (after the first 2, 1 secured and 1 gas card to build up a profile).