Wrong Card Choice?!

[Anonymous]

Yes, the inquiry will post when it happens. I don't think applying is bad judgement. If you get approved, you get a FANTASTIC promo as a benefit. If not, you've got one HP and no trade lines out of it. If you're gardening for 6-12 months anyways, you may as well take the HP. Your inquiry will stop hurting your score after 12 months, and it doesn't sound like you have many pulls on your account at the moment.

[Anonymous]

Can't edit from mobile, I meant to type," yes the inquiry will report immediately, but the new account won't show for 2-3 months."

[Anonymous]

Here's the facts: 

8 HPs on TU report

4 HPs on Equifax report 

NO collections

High Credit Utlization (80%)

Student Loans deferred 

Good Payment History for the most part - only 2 past due payments.

CU is going to drop by like 20% though after CapOne card and a CLI i got and some payments I'm making ASAP

[Anonymous]

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@Anonymous wrote:

Here's the facts: 

8 HPs on TU report

4 HPs on Equifax report 

NO collections

High Credit Utlization (80%)

Student Loans deferred 

Good Payment History for the most part - only 2 past due payments.

CU is going to drop by like 20% though after CapOne card and a CLI i got and some payments I'm making ASAP

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Eww, that 80% CU might be an issue or you'll get a very low CL.  IMO, makes sense to just wait 'til the Cap1 reports so your CU is at 20% like you say. Also, try to pay down balances as much as you can.  Like i said, more promos will come out, maybe even better ones.

[SunriseEarth]

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@Anonymous wrote:

Here's the facts: 

8 HPs on TU report

4 HPs on Equifax report 

NO collections

High Credit Utlization (80%)

Student Loans deferred 

Good Payment History for the most part - only 2 past due payments.

CU is going to drop by like 20% though after CapOne card and a CLI i got and some payments I'm making ASAP

---

Discover may not like the high UTIL, but they don't seem as sensitive to it as AMEX.   Discover could pull either EQ or TU.   If you don't mind using the HP to satisfy your curiosity, you could go for it.     I think you'd likely be approved, but with less-than-ideal terms (high APR, low CL, etc).  

IMHO, I'd recommend letting the HPs age and getting your UTIL down if you want good terms.  If you just have to have the card now, beware of what you might end up with.   

[Anonymous]

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@SunriseEarth wrote:

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@Anonymous wrote:

Here's the facts: 

8 HPs on TU report

4 HPs on Equifax report 

NO collections

High Credit Utlization (80%)

Student Loans deferred 

Good Payment History for the most part - only 2 past due payments.

CU is going to drop by like 20% though after CapOne card and a CLI i got and some payments I'm making ASAP

---

Discover may not like the high UTIL, but they don't seem as sensitive to it as AMEX.   Discover could pull either EQ or TU.   If you don't mind using the HP to satisfy your curiosity, you could go for it.     I think you'd likely be approved, but with less-than-ideal terms (high APR, low CL, etc).  

IMHO, I'd recommend letting the HPs age and getting your UTIL down if you want good terms.  If you just have to have the card now, beware of what you might end up with.   

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You might have an experience like mine if you apply:

I was denied but immediately a pop up came up letting me know i could accept other terms (which i did) with higher APR, low CL...i always PIF  so didnt care there but only got $800 CL.

[Anonymous]

I think I'm going to wait at least three months...I'm working on getting CU down unfortunately the AU card has a high CU but the age of it is helping me.

I don't want to get rid of it because it's age but at the same time it's making my usage high. Hmm I'll ask about that under another cover

[kdm31091]

I think your decision to wait is a good one. Promos come and go. Not the end of the world if you miss one.

[SunriseEarth]

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@Anonymous wrote:
I think I'm going to wait at least three months...I'm working on getting CU down unfortunately the AU card has a high CU but the age of it is helping me.

I don't want to get rid of it because it's age but at the same time it's making my usage high. Hmm I'll ask about that under another cover

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It's worth noting that AAoA is 10% of your FICO score...UTIL is 30%.   If the AU card has high UTIL, you might benefit by not having it on your CRs.  

[delaney1]

My cap one account that was opened in June showed on my reports after the first statement cut.