02-02-2013 12:08 PM
I dont know if Discover has a real AAoA requirement but when I recon'd with Chase they told me straight out that they want to see at least 1 acct with over a year and "at least a couple other accts".
From everything you have stated you're in a better position than I was when I app'd for Discover and I got instant approved for 1.5k back in October.
Also instant approved for Amex Delta for 2k this past week.
Knock down that UTIL and then app for the ones you want.
Just make sure that the card you're going for is within your reach (I wouldn't look at Visa Signature or Amex BCP or Plat for example)
Yes and No. Util should be down of course. But AAoA is YMMV. Look at my signature. I was approved for Discover and ZYNC with 6 month history and Chase and Platinum and BCE with 10 months. AAoA was 6 months.
So it depends. As long as you score is good and Util down, you could do it. But may have to recon.
02-02-2013 12:22 PM - edited 02-02-2013 12:25 PM
Ahhh...I always wondered why creditors would like people to not be using the credit they give them. Seems sorta counterproductive to me.
The utilization issue I have is that all of the cards I have now, including the one's I am merely an authorized user on, all have really low limits. Like 1000 or less. So if I so much as put a tank of gas on one of them, I will use 5% of its utilization.
Hence the take them down and go for better cards with higher limits that can actually tolerate some usage without hurting my utilization percentages.
10% of our Discover card limit which is the highest is a mere 100 dollars. As you can see it wont take much to bounce utilization above 10% across all cards with a 1000 limit being the highest. (Aside from the "no preset but actually preset multi thousand amex limit" )
So in actuality I think my pay off will be only take me to less than 10% and not really zero anyway.
02-02-2013 12:43 PM
02-02-2013 01:22 PM
Right. Thats what I plan on doing. About a week before the statements of each cut I will pay them down. At the end of the month they will collectively add up to no more than 9% total usage. I will also be sure that I dont have the full 9% assigned to one card either. I will keep it spread out so no card has more than say 3% of its individual limit.
02-04-2013 02:45 AM - edited 02-04-2013 02:46 AM
I got Amex BCE and Blue Sky a week apart first one with 8 inq and second with of course 9 hard inq on EX report.
My scores were in the 740-750 range ,1-2% Utilization, AAOA 18 months at a time, But i had 2 other cc with 5400 and 6k limit at a time.....?They were softing me over 18 months...Chase try not to have more than 4 or 5 inq and they should be 4-6 months old at least. But it all depends on your total credit profile.
I say get utilization down to like 4-5% , than apply for Amex BCE....
02-04-2013 09:05 AM
02-04-2013 09:38 AM
02-04-2013 09:45 AM
Some anecdotal evidence says that you actually don't want multiple cards reporting balances, Pilotdude. Under many forum members' hypothesis, you should pay off all cards to $0 before the statement date with the exception of one card reporting a small (1-9%) balance. That is for ideal score, since multiple cards reporting balances may impact score.
I was wondering about that too. Would it be more beneficial for my profile to have one card reporting a balance and the others not for purposes of an app where the apped card issuer might want to try to become the card being used.
If i were them, I would.
04-10-2013 05:55 AM
04-10-2013 06:32 AM
Forums posts are not provided or commissioned by FICO. Forums posts have not been reviewed, approved or otherwise endorsed by FICO. It is not FICO's responsibility to ensure all posts and/or questions are answered.Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more
FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.