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Hey,
I hope everyone is doing fine I was just wondering if it would be in my best interest to apply for a credit card within the next 2-3 months? When is a good time considering this:
So, all in all would it be in my best interest to wait a few months till I can recover from my hard inquires or wait till my payments have posted?
I am mainly trying to get an Amex card, dream card, since I want to use the extended warranty for the up and coming Macbook Pro refresh - 5 to 6 months from now.
I am really sorry for it being so long, but I would really appreciate any kind of help.
Packs 4 Life.
When you say 5 inquiries in 5-6 months, when did that happen? Your inquiries affect your score for 1 year and remain on your report for 2. If you want another prime card, I might wait until those inquiries age. Plus, the recent high balances on your cards (even once you have PIFed) might scare away some lenders.
I suspect that because of your utility and inquires, the lenders will be very skittish. (Amex for sure) I think a good bout of gardening for 6 or more months and lower your balances, then you should be good to go. You'll have more age and utility will be good. JMHO. Good Luck!
I would wait until your newest inquiry is a year old. You should be back to your old score by then (and probably higher) assuming your util isn't too high and you don't have any baddies. Unless you need credit now, I'd garden until then.
+1
I personally would garden for next year or so, but at the very least, 6+ months. I'm in gardening mode for the next year.
@Anonymous wrote:Hey,
I hope everyone is doing fine I was just wondering if it would be in my best interest to apply for a credit card within the next 2-3 months? When is a good time considering this:
- I currently am a college sophomore, pre-dental lol, and have only two credit cards. The first one being a Discover More card with a $1000 credit limit, not really sure if it is a student card. The second one being a Chase Freedom MasterCard with a $500 credit limit.
- I have had my Discover for about 2 years now and my Chase for about 4-5 months. I have been paying my balances in full for as long as I can remember. Currently I have my cards maxed out, since I decided to purchase a car, but will have them payed off in about 2-3 weeks, part-time street pharmacist JK....
- I recently checked my credit score at Equifax and got a 609. I have not had any negative marks and have had a student loan for about 3 year at around $5700. The only issue I have is that I applied for 5 cards in a period of 5-6 months LOL, so that would equate into 5 hard inquiries
- I also, currently have an income of around $12000 a year.
So, all in all would it be in my best interest to wait a few months till I can recover from my hard inquires or wait till my payments have posted?
I am mainly trying to get an Amex card, dream card, since I want to use the extended warranty for the up and coming Macbook Pro refresh - 5 to 6 months from now.
I am really sorry for it being so long, but I would really appreciate any kind of help.
Packs 4 Life.
Are Macbooks really something that rquires ectened warranties?