Hi Guys
I got an Exclusive offer from Penfed to apply for The Platinum reward visa card . I need to spend 1500 to get 100$ . 0% APR for balance transfer for 12 months . I have been with Pen for about 3 months . I didn't apply for any card with them scnce I had many open accounts at the time . My Experian score went from 696 to 735 in july 8 cause a major nagtive fell off . I still have this judgment is showing in my TU and EQ reports but it should be clear by the end of Aug . I want to have a Pen CC badly but I'm not sure if I should apply now or wait .
Here are the factor about my Ex score from my First National bank page
Your Key Score Factors were:
- Length of time accounts have been established:
FICO® Scores consider the age of a person's oldest account and/or the average age of accounts. Your score was impacted by the relatively low age of your oldest account and/or the average age of your accounts.
Keep in mind:
People who do not frequently open new accounts and have longer credit histories generally pose less risk to lenders.
- Too many inquiries last 12 months:
FICO® Scores look at the number of times a person applies for credit, since people who are actively seeking credit tend to pose more of a risk to lenders than those who are not. Your FICO® Score was impacted due to the number of applications for credit, or credit inquiries, within the last 12 months.
My guts is telling me to wait eventhough I want the card badly . What I really want at this point is a LOC with them . I think I have about 14 inq in my Ex and 4 in my Eq , 12 in my TU .One nagative tha due to be clear end of Aug and its already fell off my Ex report ( to my surprise early )
