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Regular Contributor
Posts: 266
Registered: ‎09-05-2012
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Fico is 741, when do I Start Applying for Credit Cards?

[ Edited ]

Just started rebuilding. On my Equifax, I have no negative trades (got the last baddie removed). I have a very old jewelry acct reported as paid as agreed (8 years old). I have a US Bank Secured with a 300 limit, paid as agreed (30 days old). Just this morning, the Discover card that my friend put me as an authorized user on just reported (opened 10/1/2012, 2000 limit). My Equifax Fico according to USAA is 741 and according to MyFico directly it's 701. I have no idea why it's reporting high scores considering everything I have is new, but my scores are something I've never had before and it's making me excited.


Being that all my trade lines are way too new, what's a good amount of time to pass before I can apply for credit through an Equifax pull and pretty much get approved? I'm pretty sure the scores will carry me through, but I know my history won't. Six months or a year? I don't want to be too impatient and ruin a hard pull for them to deny me. What would you do?

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Posts: 14,122
Registered: ‎04-15-2011
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Re: Fico is 741, when do I Start Applying for Credit Cards?

6 months of positive TLs is considered a good starting point.  Your AAoA is what's hurting you right now.  Let that age just a bit and you should have pretty good odds at getting decent cards.  I would recommend that you get a GECRB card such as Walmart or so.  They tend to grow and give good CLs that will help you get higher CLs with other cards.  Oh, and if you want, I think you're more than good to go for one of those right now.  Good Luck!

Starting Score: 504
July 2013 score:
EQ FICO 819, TU08 778, EX "806 lender pull 07/26/2013
Goal Score: All Scores 760+, Newest goal 800+
Take the myFICO Fitness Challenge

Current scores after adding $81K in CLs and 2 new cars since July 2013
EQ:809 TU 777 EX 790 Now it's just garden time!

June 2017 update: All scores over 820, just pure gardening now.
Regular Contributor
Posts: 266
Registered: ‎09-05-2012
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Re: Fico is 741, when do I Start Applying for Credit Cards?

Thank you for the response good sir.


You are an ambassador of good thoughts and wishes. Appreciate it.

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