Established Contributor
jcstarkey8826
Posts: 708
Registered: ‎06-01-2012
50% util, should I app?
[ Edited ]

Im going to join DCU in February. Im wondering if I should app for their Visa when I join? below is my report in a nutshell, should I wait or give it a shot?

 

charter one: $0 / 500CL opened Jan 2012

chase: $0/ 500 CL  opened september 2012

Wal Mart: $450/ 1000 opened september 2012

Kay: 2k/ 3000 CL opened august 2012

No LATES ON ANY CARDS ABOVE

 

DTE energy: opened april 2011 never late

 

Mohela student loan 7 years no lates

another Mohela student loan 6.5 years no lates

 

Discover card CO from 08' PAID

Key Bank SL CO from 08' PAID

 

In my wallet: GCU Patinum Visa 1500 CL, Charter One Platinum Rewards 500 CL, Chase Freedom 800 CL, Wal Mart Discover Card 6300 CL, Kay Jewelers 3000 CL
Valued Contributor
jsickz32
Posts: 1,987
Registered: ‎06-25-2012
Re: 50% util, should I app?
Join first then app. Wait until you get your welcome package and everything then app. Its gonna be a HO for each either way.
Amex BCE (2500) / Amex SPG (4000) / Amex GoldPR / Merrill+ Visa siggy (5000) / BofA Amex (6000) / Bofa cash rewards (5000) / BofA Privileges Cash Rewards (5000) / Citi Forward (4400) / Citi DP (2000) / Chase Freedom (4000) / Chase CSP (5000) / Chase Hyatt (5000) / Discover IT (1700) / FNBO AMEX (3600) / NFCU cashRewards Visa signature (15000) / NFCU Flagship Visa signature (12500) / NFCU Navcheck (5000) / Nordstrom (500) / MetroCU Visa Elite (5000) / Walmart (4500) / Kays Jewerels (6600) / Kohls (300) / Macys Platinum (2500) / DCU platinum Visa (17500) / Citizens bank cash back (1100) / Bill Me Later (1631) / PayPal Smart connect (2200) / BestBuy store card (2000)
Moderator
Revelate
Posts: 9,738
Registered: ‎12-30-2011
Re: 50% util, should I app?
[ Edited ]

Usually I suggest that you open a tradeline as soon as possible if you want it, but in this case I'm not certain I see the draw.

 

As I understand it, you're going to take a HP to join; you're going to take a HP to open the card; you're going to take a HP to get any CLI's in the future.

 

It won't matter long term but if you're doing this for limit chasing in addition to the FICO score, I think you're better waiting to make your report as pretty as possible.  If you just want the FICO score and the limit is irrelevant, then apply on opening.

 

Edit: April looks good from a tradeline perspective if you can pay down by then, take the 6 months seasoning on half your cards for a likely FICO bonus.

 

Starting Score: EQ 561, TU 567, EX 599* (12/30/11, EX lender pull 12/29/11)
Current Score: EQ 04 673, EQ 8 707, TU 720, EX 702* (09/02/14, EX older)
Goal Score: 700 on EQ '04 (01/01/15)


Take the myFICO Fitness Challenge
Established Member
battles11
Posts: 16
Registered: ‎11-19-2012
Re: 50% util, should I app?
I just joined dcu. I apped for visa then became a member. Its going to be two hardpulls. I had 80% utilization on my cards with a EQ fico of 666 and was approved for a 3k limit.
Established Contributor
toppers555
Posts: 552
Registered: ‎09-28-2012
Re: 50% util, should I app?

I would wait 50% utilization is pretty excessive. you may be apporved , but I assume it will be for a low amount like poster above me.



TU 715 No apps to 05/13 cash+ 5/13!!! 738 TU CSP April 13!!!CSP approved May 13!!!


Established Contributor
jcstarkey8826
Posts: 708
Registered: ‎06-01-2012
Re: 50% util, should I app?

toppers555 wrote:

I would wait 50% utilization is pretty excessive. you may be apporved , but I assume it will be for a low amount like poster above me.


I have a ring and tv on 0% interest while I pay it off. My non store cards are always pif and never carry a balance, but they have such low limits that my util reports very high. I am chasing a higher limit, and I know you say the person above received a low limit, but its all perspective. I would be ecstatic with a 3k limit! I hate having these $500 CL with multiple payments per month. I just figured they would be my best bet to get a limit of 1k or more. Myfico score is only 670 TU 674 EQ and 680 EX last pull.

In my wallet: GCU Patinum Visa 1500 CL, Charter One Platinum Rewards 500 CL, Chase Freedom 800 CL, Wal Mart Discover Card 6300 CL, Kay Jewelers 3000 CL
Established Contributor
jcstarkey8826
Posts: 708
Registered: ‎06-01-2012
Re: 50% util, should I app?

battles11 wrote:
I just joined dcu. I apped for visa then became a member. Its going to be two hardpulls. I had 80% utilization on my cards with a EQ fico of 666 and was approved for a 3k limit.

what was your AAOA? Your scores are about what mine are and util a little higher, but did you have any negatives or maybe a long history of revolving credit usage? My AAOA is 2.5 yrs and 1 yr revolving experience

In my wallet: GCU Patinum Visa 1500 CL, Charter One Platinum Rewards 500 CL, Chase Freedom 800 CL, Wal Mart Discover Card 6300 CL, Kay Jewelers 3000 CL
Established Member
battles11
Posts: 16
Registered: ‎11-19-2012
Re: 50% util, should I app?
My aaoa is roughly 4 years and only negative on my report is a paid 2 year old tax lien. Im sure i woulda gotten a much better limit with a lower utilization. Ill just cli in a few months when my uti is a 9%. Dcu only pulls EQ. I only had 1 inquiry on report also.