Pre-App Spree Prep Questions

[Born123]

Hello,

This will be my first time doing an App Spree

I currently have 2 CC that ive had for 6yrs with crazy high rates

Chase Student ($1000 Limit)

GE CarCareOne ($475 Limit)

Last time i checked my scores was Aug 2012 for my first car loan... average 720score

1) My questions are, what is best utilization % before i apply?... Under 10% or 0%

2) Does it work like car loans in which i can apply for as many and only take 1 hit?

3) Any recommendations on which to apply for? Im looking to get at least one $5k limit to expand my credit portfolio

Planning on applying for

* Local Credit Union ive been with for 2yrs

* Chase Freedom

* Walmart

* Amex

Any help is greatly appreciated!

[Creditaddict]

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@Born123 wrote:

Hello,

This will be my first time doing an App Spree

I currently have 2 CC that ive had for 6yrs with crazy high rates

Chase Student ($1000 Limit)

GE CarCareOne ($475 Limit)

Last time i checked my scores was Aug 2012 for my first car loan... average 720score

1) My questions are, what is best utilization % before i apply?... Under 10% or 0%

2) Does it work like car loans in which i can apply for as many and only take 1 hit?

3) Any recommendations on which to apply for? Im looking to get at least one $5k limit to expand my credit portfolio

Planning on applying for

* Local Credit Union ive been with for 2yrs

* Chase Freedom

* Walmart

* Amex

Any help is greatly appreciated!

---

have only 1 of your 2 cards reporting a balance of less than 10% in a perfect world... but with only 2 small cards for so long and high score any balance below 50% and you will probably see just fine results.

you will take an INQ for each app and they don't combine.

apply in this order:

Chase Freedom

American Express

Credit Union

Walmart

be sure to check the Citi pre-qual offers and also Discover... Chase actually has one too... but those are usually very good firm offers.

[SwiftTone]

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@Creditaddict wrote:

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@Born123 wrote:

Hello,

This will be my first time doing an App Spree

I currently have 2 CC that ive had for 6yrs with crazy high rates

Chase Student ($1000 Limit)

GE CarCareOne ($475 Limit)

Last time i checked my scores was Aug 2012 for my first car loan... average 720score

1) My questions are, what is best utilization % before i apply?... Under 10% or 0%

2) Does it work like car loans in which i can apply for as many and only take 1 hit?

3) Any recommendations on which to apply for? Im looking to get at least one $5k limit to expand my credit portfolio

Planning on applying for

* Local Credit Union ive been with for 2yrs

* Chase Freedom

* Walmart

* Amex

Any help is greatly appreciated!

---

have only 1 of your 2 cards reporting a balance of less than 10% in a perfect world... but with only 2 small cards for so long and high score any balance below 50% and you will probably see just fine results.

you will take an INQ for each app and they don't combine.

apply in this order:

Chase Freedom

American Express

Credit Union

Walmart

be sure to check the Citi pre-qual offers and also Discover... Chase actually has one too... but those are usually very good firm offers.

---

Sometimes lenders will pull 2 or 3 inq per application. It depends.

[Born123]

Why only 1 card show below 10% utilization?

Also why that order for applying? Ive heard Chase loves to give people hard times lol

Just trying to figure out the system for future

[Creditaddict]

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@Born123 wrote:

Why only 1 card show below 10% utilization?

Also why that order for applying? Ive heard Chase loves to give people hard times lol

Just trying to figure out the system for future

---

1 card out of 2 cards showing balance would be a plus in scoring but like I said with just 2 accounts and lower limits and high scores... especially since you are a chase customer... the computer will probably ignore the util. to an extent... what are the balances on last statements... why are you not applying today/now!?

I put in that order just because of if any of them are going to have an issue with an inq... but with just the few that you are looking at I doubt any of them would really have an issue.

[Born123]

Ah i see

Im not applying right now because my statements come out on the 11th... so i would like to make one last payment at the desired utilization % to look best before i apply

My last statement my balances were 58% utilization

Chase $596.94

GE $253.89

Does it matter at all on what my checking amount balance is with Chase? I use my credit union so theres only $5 in chase account.

Also, my target is at least 1 $5k limit card. Should i ask for $10k limit to better my odds?

[Creditaddict]

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@Born123 wrote:

Ah i see

Im not applying right now because my statements come out on the 11th... so i would like to make one last payment at the desired utilization % to look best before i apply

My last statement my balances were 58% utilization

Chase $596.94

GE $253.89

Does it matter at all on what my checking amount balance is with Chase? I use my credit union so theres only $5 in chase account.

Also, my target is at least 1 $5k limit card. Should i ask for $10k limit to better my odds?

---

balance in chase account won't matter.

you may be able to request a limit with your credit union and if that is the case I always ask high and they will counter... so go $10.... but the others are just going to spit back an answer (most likely instantly when you hit submit button online!)

If your statements are the 11th... you would need to pay your balances down to the desired util. NOW so on the 11th when the statements post, that's also usually about the same time they post to the credit reports.

[RollingStone]

Remember AMEX may pull more than one report and they don't like to see app sprees. If so they generally give a lower limit with too many inquiries.

[rustystick]

you should call to ask for product change for your chase student to chase freedom and apply for something like csp instead of wasting an inq..

[Creditaddict]

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@RollingStone wrote:
Remember AMEX may pull more than one report and they don't like to see app sprees. If so they generally give a lower limit with too many inquiries.

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lets clarify that 3 is not an app spree and they tend to only hit up TU if they probably are not going to approve... like sub 650 scores.