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Frequent Contributor
CreditWorld2013
Posts: 346
Registered: ‎02-01-2012

When should I go on an App Spree?

I currently have:

 

Discover More, Capital One Journey, and Citi Forward each with a $1,000 limit.

My current reports show 0% Utilization (when I apply I will leave 1%)

Oldest account ~ 1 year 2 months.

AAOA~10 months. 

Student Loan Balance ~ 8,000

Annual Income~ 24,000

2 Inqs on EQ, 3-4 on Trans and Experian. (2 on each will be reaching 1 year in January) 

EQ FICO: 710

No Negative info (Lates, Collections, Public Records, etc)

 

I'm interested in: 

1) Chase Freedom  :   I like the Freedom for the rewards, I can link it as Overdraft Protection to my Checking, etc. 

2) UPromise by Sallie Mae (Barclays now issues the card)     :     I like the UPromise card since I can use the rewards as credit towards my student loans. 

3) Apple Barclay's Card    :     I like the Apple card since I can always get a new Mac and take advantage of the financing. Also I heard you can always ask for another financing offer when you wanted a new Apple product. 

 

Questions:

1) What are my chances of approval at this time? How would they be when the inquiries hit a full year sometime in January? 

2) I know Barclays is inquiry sensitive...which makes me hesitant with them (if I applied for any of their cards it would probably be after Freedom reports and the other inquiries are 1 year old. That way I can go into the garden without fearing the 6 month watch. 

3) Is the UPromise card even worth it? I hear some horror stories from it but some positives with the online savings and credits. 

4) What limits can I expect on the Freedom or Barclays if approved?

5) Should I garden and hold off on the Freedom until the end of January? 

 

Thanks!

Regular Contributor
Tran92
Posts: 217
Registered: ‎09-25-2012

Re: When should I go on an App Spree?

I say you have a good shot at the Freedom, but I would wait until the end of January in case. You should keep gardening after getting approved for one of the cards you want. Your history is still short and your AAoA will greatly drop.
TU 746 (10/13)
GOAL: 750+






Valued Contributor
nicholasyud
Posts: 1,734
Registered: ‎08-13-2012

Re: When should I go on an App Spree?

Do you intend to get a CLI on your current cards ????? Take an advantage of it......Hold off for another year maybe for better limit.

Here what i do : I wrote down 10 credit cards i like the most...

  • promotion.
  • Balance transfer and 0% APR.
  • Cash back bonus sign up.
  • who they pull....etc......

Then i trim them down to 4 5 and apps for them on same day.

Hope it help.


Starting Score: 560
Current Score: 748 Wishlist: CSP, Simply Cash, SPG, BOLD, INK, United MP,
Goal Score: 800


Walmart: 10k |Usaa: 8k|BCE: 9k| Amex: NSPL|Dis: 3.4k|Cap: 3.5k|CAP: 2k|CSP: 5k| Pen:4.5k

Frequent Contributor
CreditWorld2013
Posts: 346
Registered: ‎02-01-2012

Re: When should I go on an App Spree?


nicholasyud wrote:

Do you intend to get a CLI on your current cards ????? Take an advantage of it......Hold off for another year maybe for better limit.

Here what i do : I wrote down 10 credit cards i like the most...

  • promotion.
  • Balance transfer and 0% APR.
  • Cash back bonus sign up.
  • who they pull....etc......

Then i trim them down to 4 5 and apps for them on same day.

Hope it help.


I had them increased last month. My Ideal plan would be to get a few more cards between this year and next year. This way my AAoA and overall credit history continue to grow at the same time. Then I'll ask for increases whenever I want to take the inquiries. I prefer to have 6-10 cards compared to 30-40 :smileyhappy:

Valued Contributor
nicholasyud
Posts: 1,734
Registered: ‎08-13-2012

Re: When should I go on an App Spree?

Join Amex Green for first base.......I bet you won't regret it.......backdate is awesome for later product........


Starting Score: 560
Current Score: 748 Wishlist: CSP, Simply Cash, SPG, BOLD, INK, United MP,
Goal Score: 800


Walmart: 10k |Usaa: 8k|BCE: 9k| Amex: NSPL|Dis: 3.4k|Cap: 3.5k|CAP: 2k|CSP: 5k| Pen:4.5k


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