Trying to debate on how long to wait for my second card app.. Already have had 3 statement cycles with my credit union card of 5k... Only thing I don't like is the card only seems to report to TU and noone else... Discover seems to be sending me constant preoffers... but noone else seems to be. Ideally id like a Discover, Chase Freedom, and BCP... Any recommendations on when to start trying for cards and should i app them all at once?.. This is from someone who has a thin file, with 0 baddies...
-J
I'd hold off on trying to get the freedom I tired when my credit file was 7 months old and was denied for having a short history and not enough lines(had 1). I've heard multiple times Chase likes to see at least a year of credit history. Chase doesn't do SP CLI's it might not be a bad idea to wait until you have some higher tradelines so ensure you lock in a great starting CL.
As far as the BCP, I was able to get in with amex when my file was 8 months old(1 card). Make sure when you app your file is in the best condition possible (have between 1-9% utilization on 1 card and 0 balance on the other). My credit score at the time was 773, and income reported was 13k.
If I were you I would wait until you have had credit for at least 6 months before going for either. Good Luck!
Wait for the 1year mark for the Chase, thinking 8-10month mark for Amex, Now what about the Discover... Better off waiting the one year so I dont end up with a toy card or should I just wait a few months with these constant tease offers?
@joltdude wrote:Wait for the 1year mark for the Chase, thinking 8-10month mark for Amex, Now what about the Discover... Better off waiting the one year so I dont end up with a toy card or should I just wait a few months with these constant tease offers?
Well discover pulls TU, so it makes sense to me why you are receiving preapproved offers from them. Do you have anything reporting to the other bureaus currently?
If you don't I would defiantly recommend getting another card that will report to all 3. If you are receiving preapproved offers from discover I say go for that. They were my first card (took a chance on me) and there customer service really is top notch. They might give you a smaller starting limit, but you have to start somewhere and CLI's down the road are always an option (can always see if SP CLI is an option before you take a HP). 1 hard pull isn't going to kill your score and in my opinion another card would benefit you more than it would hurt you!
@CarnegieS wrote:
@joltdude wrote:Wait for the 1year mark for the Chase, thinking 8-10month mark for Amex, Now what about the Discover... Better off waiting the one year so I dont end up with a toy card or should I just wait a few months with these constant tease offers?
Well discover pulls TU, so it makes sense to me why you are receiving preapproved offers from them. Do you have anything reporting to the other bureaus currently?
If you don't I would defiantly recommend getting another card that will report to all 3. If you are receiving preapproved offers from discover I say go for that. They were my first card (took a chance on me) and there customer service really is top notch. They might give you a smaller starting limit, but you have to start somewhere and CLI's down the road are always an option (can always see if SP CLI is an option before you take a HP). 1 hard pull isn't going to kill your score and in my opinion another card would benefit you more than it would hurt you!
Discover pulls TU for CLI's and will pull from all 3 CRAs for apps.
I agree, Discover can be more acceptable of new/thin files. In the beginning if building credit there's nothing wrong with apping for 2-3 cards so that your inq's/TLs will age together.
I would try to Discover, I had a thin file when they approved me. They did pull both EQ and EX though.
