when to apply? any thoughts?

[toli77]

i started rebuidling in 1/13.  applied for amex and discover on 4/13. 

score is up (TU 799, EQ 767).  i was planning to garden til next year but now i'm waiting to buy a house until next year.  so my thought went back to inquiries and obtaining a visa/mastercard this year so that i apply for mortgages next march, i will have had enough time between inquiries.  

since my cards and inquiries are pretty recent (although amex backdated to 1998) should i wait a few more months before i apply for either visa/MC?  (i'm thinking either bofa, sallie mae, penfed or csp).  

if i apply now, since my inquiries are pretty recent, will i be denied or even accepted get a credit line comparable to what i have now?  (amex now at 11,400 and discover 17500).  

or do i wait til the end of the year?  any comments on i shoud proceed?  

[myjourney]

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@toli77 wrote:

i started rebuidling in 1/13.  applied for amex and discover on 4/13. 

score is up (TU 799, EQ 767).  i was planning to garden til next year but now i'm waiting to buy a house until next year.  so my thought went back to inquiries and obtaining a visa/mastercard this year so that i apply for mortgages next march, i will have had enough time between inquiries.  

since my cards and inquiries are pretty recent (although amex backdated to 1998) should i wait a few more months before i apply for either visa/MC?  (i'm thinking either bofa, sallie mae, penfed or csp).  

if i apply now, since my inquiries are pretty recent, will i be denied or even accepted get a credit line comparable to what i have now?  (amex now at 11,400 and discover 17500).  

or do i wait til the end of the year?  any comments on i shoud proceed?  

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Looking at your scores all baddies are gone correct? If so with the backdating of Amex I would say proceed I can't see any reasons that would hurt you.

[Creditaddict]

Umm... PROCEED!

What are your thoughts of what you want? you can have the pick!

rebuilding started 6 months ago and you have an 800 Fico already?? what kind of rebuilding??!

[toli77]

i got rid of what i could which i sent letters to PDF and i got lucky with the response.  

there still is amex closed account from 2008 but then amex took me back and i was able to get backdated til 1998.  so the closed account is still there and i'm not sure if it will hurt me.  after i got rid of the PDF, i applied for amex and discover and carry utilization of 10%.  amex is always reporting 0.  and it just jumped up.  i started with tu 709 and eq 650.  

i haven't really decided on a visa/mc yet.  the only reason i would want one is that i have run into situations where amex or discover isn't accepted, e.g. cafteria at my work.  

i want low apr and thinking of cash back as my main option.  although i have that with both of my cards and now i'm thinking, travel?  i've heard of some negative stories with bofa but i bank with them so i thought maybe with them.  but then everyone raves about sapphire and penfed so i thought if i could qualify, i could get one  of those.  is there an annual fee for both of them?  i think sapphire does?  so i'm everywher but i want to be smart about it.  i know the score will take a hit, but i'm thinking if i take a hit now, then by the time i'm ready for mortgage, it will be back up again.  

[myjourney]

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@toli77 wrote:

i got rid of what i could which i sent letters to PDF and i got lucky with the response.  

there still is amex closed account from 2008 but then amex took me back and i was able to get backdated til 1998.  so the closed account is still there and i'm not sure if it will hurt me.  after i got rid of the PDF, i applied for amex and discover and carry utilization of 10%.  amex is always reporting 0.  and it just jumped up.  i started with tu 709 and eq 650.  

i haven't really decided on a visa/mc yet.  the only reason i would want one is that i have run into situations where amex or discover isn't accepted, e.g. cafteria at my work.  

i want low apr and thinking of cash back as my main option.  although i have that with both of my cards and now i'm thinking, travel?  i've heard of some negative stories with bofa but i bank with them so i thought maybe with them.  but then everyone raves about sapphire and penfed so i thought if i could qualify, i could get one  of those.  is there an annual fee for both of them?  i think sapphire does?  so i'm everywher but i want to be smart about it.  i know the score will take a hit, but i'm thinking if i take a hit now, then by the time i'm ready for mortgage, it will be back up again.  

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I think you can take your pick of cards do your homework before you app so that you know the card is what you need and looking for, 

Scores should bounce back in time for mortgage just remember no new credit of any kind 5 months before mortgage but somehow I get the impression you knew that Lol

Keep up the good work 
See if you are pre-approved for any cards with each lender your thinking about and good luck

[kimmiller112]

When are you planning on going for the mortgage?  You need to be clear of inquiries for at least 6 months prior to going for a mortgage.  I just met with my loan officer today and she went though all of my inquiries for the past 9 months, so you may even want to use that as a guideline for yourself.  If you are planning on applying for a mortgage at the beginning at 2014, I wouldn't apply for anything else (although you could probably squeexe one card in like Chase Freedom if you do so in the next day or two).  If you plan on applying for a mortgage towards the end of 2014, you have plenty of time to get a couple of cards now.  You may want to consider Chase Freedom.  If you are talking about Barclays Sallie Mae, that would also be a good one to try for.  I've been happy with my BofA card, even though there are some who don't like them.  Penfed is great to have but they are very conservation so it is harder to get one of their cards.  But if you went with Chase, Barclays and and BofA, those would all give you a great start to prepare you for your mortgage.