topic Re: Should i wait in Credit Card Applications

Should i wait

juniornj23 — Fri, 29 Apr 2016 23:33:54 GMT

I have seen so many getting approved from amex and i do have a amex card from penfed but i really want to get a amex cash back 6% supermarket .

Question is my UTl is 29% i own 23k in 2 credit card im going tonpay 15k on june should i wait until june so my Utl is lower plus 5 hp will be delted by that time .
I have 14 HP
Score 720
My last app was in September 2015
I want a BT card but i know i will be denied from chase slate

Limit 80k in credit card
4 car loans 2 pay all ready never late ever
Income 65k
Any advice

Re: Should i wait

Anonymous — Sat, 30 Apr 2016 00:38:58 GMT

IMO I would definitely wait till June

You should get a score boost when the util comes down and the better the score the better the chance of approval and a decent starting line

Re: Should i wait

juniornj23 — Sat, 30 Apr 2016 00:43:47 GMT

Thank you i really would love a good SL special in a BT card so i dont have to pay interest

Re: Should i wait

creditguy — Sat, 30 Apr 2016 00:45:22 GMT

Waiting until your utilization comes down can only help your chances so why not wait, June is not that far off anyway. Amex is not inquiry sensitive so that shouldn't be an issue but utilization is always looked at even though yours is not terrible, it's always better to get it down. On a side note have you checked Amex's site for prequals?

Re: Should i wait

pizza1 — Sat, 30 Apr 2016 00:47:55 GMT

agree with the above. Get that util reporting to 1-9% for best results. Amex doesnt like a lot of debt reporting, and that may be too high for them. Just wait...

Re: Should i wait

juniornj23 — Sat, 30 Apr 2016 00:53:14 GMT

I did the pre on amex got 3 offer 2 gold card and green card also i got a mail for ED

Re: Should i wait

Anonymous — Sat, 30 Apr 2016 15:45:09 GMT

This is my issue exactly. I have only 1 card that I am paying down and I was scheduled to be done in June, but I just found out my in-laws are organizing an impromtu family trip to Disney in July so I won't be at my preferred utilization until August now. I have 3 HP falling off in June so I was so ready. Can't wait to get my BCP in August! As a mom/wife the supermarket gets a lot of my business.

Re: Should i wait

SouthJamaica — Sat, 30 Apr 2016 18:16:37 GMT

@juniornj23 wrote:
I have seen so many getting approved from amex and i do have a amex card from penfed but i really want to get a amex cash back 6% supermarket .

Question is my UTl is 29% i own 23k in 2 credit card im going tonpay 15k on june should i wait until june so my Utl is lower plus 5 hp will be delted by that time .
I have 14 HP
Score 720
My last app was in September 2015
I want a BT card but i know i will be denied from chase slate

Limit 80k in credit card
4 car loans 2 pay all ready never late ever
Income 65k
Any advice

I think you'll be approved for the BCP.

Re: Should i wait

Anonymous — Sun, 01 May 2016 03:08:47 GMT

@Anonymous wrote:
IMO I would definitely wait till June

You should get a score boost when the util comes down and the better the score the better the chance of approval and a decent starting line

I agree with this approach...

Re: Should i wait

RonM21 — Sun, 01 May 2016 10:37:06 GMT

Agree with above. Wait! It increases your chances, plus gives you an opportunity at a better limit!