08-04-2010 01:37 PM
For the record I was going to hold down my "App Spree" to one or two applications. I am sure some lenders will not want to see any action/inquiry listed when they are cosidering an application. Which is exactly why I have requested the trusted team of MyFico posters to point me in the right direction!ha! All in all I would be more than happy with one new card. I believe that with a pay down of my overall UTIL% I should be in line for something. I would like to think I had a strong shot at a Citi or Chase card (if anyone has the exact numbers needed for one of those please send them along). And then follow with a Cap One application and see what happens.
If any reader thinks another card should be considered first please throw in your recommendation! I am anxious to hear!
All your comments have been greatly appreciated!!
08-04-2010 01:49 PM
personally, since your credit is on the better side, i would steer away from capital one. they are more "sub-prime" and they pull ALL 3 cra's. most others will only pull one.
08-04-2010 01:56 PM
With your current credit profile, I would suggest starting with Credit Unions and staying away from the big guys. A CU will be more lenient, while the big guys like Chase will just flat out deny without even thinking twice about a recon.
08-04-2010 02:05 PM
I would pay down and make sure all is reported before applying.
Presuming that you will shop at Nordstrom, I would apply only for Nordstrom. IMO, The Nordstrom VISA which you should eventually get is a best choice.
Wait six months apply for next choice.
08-04-2010 05:02 PM
If you can pay down your UTL to 0-10%, your initial CL will be higher than if you apply now. With your credentials listed above, you will most definitely get approved for Citi and Chase.
I am not sure about Discover, but I'm sure you would get approved once your UTL is 0-10%. Having no inquires is definitely going to work in your favor. PERSONALLY, I would not apply with Chase. I think customer service and overall satisfaction would be higher with other cards. I would probably recommend CITI Plat Select. They are known to give out decent initial CL - depending on your annual income, you would probably get approved for something like $3000 and strong chance for a CLI in six months.
Discover is a great card. I am a strong advocate for them. They have treated me very well over the years as has CITI.
Let us know what you do. Good Luck with your application(s)!
myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.>> About myFICO