topic Re: Credit Application Advice, Please! in Credit Card Applications

Credit Application Advice, Please!

Anonymous — Sat, 08 Dec 2018 03:04:25 GMT

Hello, everyone!

I have been lurking (and learning) on your myfico forums for a while now, attempting to absorb all of the wisdom that I could from you guys as I attempted to get back into the game and rebuild my credit, after 7 years of being patient and waiting for my mistakes to drop off of my credit reports. So, I would like to first say thank you to you all for your many posts relating your experiences and giving advice to others, as it has helped me tremendously in my credit journey over the past year.

A little information about my credit situation:

After all of the baddies (collections & lates) had dropped off of my credit in 2017, I was left at first with absolutely NO credit score at all.
However, I had an old Tribute Mastercard from 2007 that was still showing as being in good standing, as when the company closed in 2010, although I had a balance left on my card, they posted that I had been paying as agreed with no lates, and that my balance had been completely paid off to 0 (from a $1100 credit line). I couldn’t believe it but I was grateful!!!
So, shortly after the baddies dropped off, Transunion suddenly posted a credit score for me in the 660s to 680s (can’t remember the exact score now), but unfortunately at first Experian and Equifax could not generate any scores for me. Extremely Thin File!
After a while, I used Capital One’s prequalifying tool and was prequalified for an unsecured Platinum which I apped for, and was approved for on November 30, 2017. The balance was $300, and it was a rebuilding card, but I was grateful.(P.S. I learned about the prequalifying from you all. Thanks!!)
Equifax gave me a score several months later, (it was fairly high for someone with a thin file). But no Experian score until about May 2018.
I had learned from the forums not to apply for too much credit at one time so I decided to wait for a bit and be sure that I used the card properly by not only paying my balance every month, but by paying it in full, as I tried to establish a strong credit profile.
I did well with managing my credit, as my TransUnion, Equifax and Experian scores crept up to more than 700 over the past year.
I ended up pre-qualifying online for a Discover IT card, on May 30 2018 (myfico forums had said that Discover likes thin credit files. Thanks!!!). I apped for it, and was almost beside myself when I saw a $2,000 SL! It might not seem like much but with a thin file, and not having good credit or a credit score for so long, and a low income in the mid $30,000s, I was more than satisfied!! (I saw my prequalification letter in the mail for Discover after the fact). Meanwhile my credit score kept climbing (although there were several fluctuations).
Then on September 2, 2018, I had a prequal online for Amex and a prequal in the mail as well, so I said “What the heck” and applied and got a $4000 SL. I almost screamed, lol.

Currently, my Fico 08 scores as of 12/5/2108 are:

Experian – 728

Equifax – 749

TransUnion – 828.

I have 3 accounts open with a total limit of $18, 500, although no credit report shows that total amount yet due to 2 recent CLIs.

Capital One Quicksilver: Current CL - $2500 (Opened November 30, 2017). (Began at $300, then to $500 (after Credit Steps. PC’d from Platinum (due to a tip from myfico forums!) and now with a CLI in September to $2500

Discover It: Current CL - $4,000 (Opened May 30, 2018). (Began at $2000, went to $2300 with CLI in August, and after immediate recon to backdoor number (learned from myfico forums) it was further increased to $2700. Another CLI in November to $3200, and then another recon to backdoor # to $4,000 CL).

Amex Everyday Card: Current CL - $12,000 (Opened September 3, 2018). (Began at $4,000, and was eligible for a 3xCLI on the 61st day, but due to having a balance on the card, waited until November 30, 2018 and was instantly approved for the 3xCLI to $12,000 (I could not believe it!!! Thank you, myfico forums!!! and people such as @mustangsaluki, @UncleBob, @CreditGuyinDixie, @AverageJoesCredit, and the rest of you frequent contributors, whose names fail me right now!!!)

My AAoA is 8 months for Experian and Equifax and 3yrs 5 months for TransUnion (TransUnion has the old Tribute account which is 11 yrs 10 mos old).
Experian is currently showing my Amex current CL of $12,000 and the other 2 are still showing $4000, and all 3 bureaus are showing a $2500 CL for Capital One and a $2700 CL for Discover as they have not all been updated yet (**The most recent CLIs were only done last week on 11/30/18/30**)
My total utilization for Experian is listed at 1% for a current $170 CapOne balance (others at zero) from last month, and Equifax and TransUnion are showing a 4% utilization for a combined $170 from CapOne (current) and $167 from Amex (from November which hasn’t been updated yet as December Amex closed at zero on 12/2/18).
I have 2 inquiries for Experian, 1 for Equifax and 1 for TransUnion.

1) So....after all of that, I was thinking of applying for a new account since it has been 3 months since my I got my Amex ED card, and I have recently received additional CLIs on all 3 of my accounts.

I currently have prequalifications for:

All of the Amex accounts;
Citi Double Cash and Citi Simplicity and another Citi Premier (Citi DC is at the top, the other 2 are side by side at the bottom of the screen) (These suddenly showed up 2-3 weeks ago);
CapOne Quicksilver Rewards Visa, Venture Rewards, Savor and SavorOne;
US Bank Cash+ Visa Signature Card, US Bank Cash 365 Amex Card and US Bank FlexPerks Travel Rewards Visa Signature Card.

2) Also I have read about the Chase 5/24 rule, and I was wondering if I should take a shot at Chase? I am 3/24, but presently I have no pre-qualifications for any of their cards. Would I even have a chance? Or should I just leave Chase alone?

3) I would like a good card with a decent SL so I am wondering which one to choose. I don’t want to waste any hard pulls, nor do I want to apply for too many cards and look desperate.

4) I was also thinking of the possibility of apping for 2 cards at once, but I know that some credit card companies so not like to see other inquiries around the same time as theirs, for eg. Chase and perhaps Citi.

5) I think that Amex will be a soft pull, but again should I attempt Chase and/or Citi or even CapOne (although the CapOne 3 hard pulls is annoying).

6) Which cards will give me the best SL? And which do you think that I would be best qualified for? And what about apping for 2 cards at once?

I really don’t want to mess up my credit at this stage.

*Keep in mind that the new Amex $12000 CL is only showing on Experian, but NOT Equifax and TransUnion, and the new Discover $4000 CL is only showing up on Equifax and TransUnion, but NOT Experian. My total CL should be $18, 500: $2500 + $4000 + $12000.

Sorry for the length of the message!! I have been reading up to find an answer for days now, but I couldn't find a definitive, or close to definitive one, so I decided to ask you guys myself. (Also, I can be longwinded sometimes (to say the least, lol).)

I would appreciate any input and advice!!! Thank you!!!

Re: Credit Application Advice, Please!

Anonymous — Sat, 08 Dec 2018 03:29:54 GMT

Welcome to myFICO!

It sounds like you have a lot of options.

You already have a 1.5% card, a rotating 5% card, and an Amex rewards card so what exactly are you looking for?

High SLs tend to be more common with credit unions like NFCU and PenFed, they also offer some of the lowest interest cards around as well if you forego rewards, the PayPal MasterCard is a 2% rewards card without gimmicks.

US Bank has great credit products but they tend to be conservative and if you don’t bank with them, they’re well known for kicking $500 limits at you.

It would help to know what exactly you’re interested in with a credit card - but high SLs seem to be incredibly common with the two CUs I mentioned.

Re: Credit Application Advice, Please!

Pikaboo-icu — Sat, 08 Dec 2018 06:28:11 GMT

Welome to My Fico, I'm glad you're out of the shadows. lol

What a fantastic journey you've had! Congrats!!

Honestly; with where you are right now, you can probably get just about any card on your list.

It's going to come down to what you're looking for-

I have US Bank Cash+ and they may be known as conservative but they gave me an $8000 SL with no prior relationship.

Amex WILL be SP's for you-

Citi is a good bet, I have the Costco Citi card & I'm happy with it.

If you have a way into NFCU, I highly recommend them- they have great cards & are truly a wonderful CU..

I'm not chasing Chase so IDK much about them.

I'm sure others will offer up some thoughts but it's up to you to decide what you want out of your next card.

CHEERS

Re: Credit Application Advice, Please!

CreditInspired — Sat, 08 Dec 2018 11:26:45 GMT

Welcome OP and thanks for sharing your story.

Honestly, this should be a poster board for how patience, lessons learned, and accepting advice can culminate into an extraordinary credit card journey.

I just wanted to take my hat off to you and congratulate you on creating a great credit profile.

Keep up the good work.

P.S. Everyone you named helped me in my credit card journey too and kudos to them.

Re: Credit Application Advice, Please!

SouthJamaica — Sat, 08 Dec 2018 14:24:19 GMT

@Anonymous wrote:
Hello, everyone!
I have been lurking (and learning) on your myfico forums for a while now, attempting to absorb all of the wisdom that I could from you guys as I attempted to get back into the game and rebuild my credit, after 7 years of being patient and waiting for my mistakes to drop off of my credit reports. So, I would like to first say thank you to you all for your many posts relating your experiences and giving advice to others, as it has helped me tremendously in my credit journey over the past year.

A little information about my credit situation:
After all of the baddies (collections & lates) had dropped off of my credit in 2017, I was left at first with absolutely NO credit score at all.
However, I had an old Tribute Mastercard from 2007 that was still showing as being in good standing, as when the company closed in 2010, although I had a balance left on my card, they posted that I had been paying as agreed with no lates, and that my balance had been completely paid off to 0 (from a $1100 credit line). I couldn’t believe it but I was grateful!!!
So, shortly after the baddies dropped off, Transunion suddenly posted a credit score for me in the 660s to 680s (can’t remember the exact score now), but unfortunately at first Experian and Equifax could not generate any scores for me. Extremely Thin File!
After a while, I used Capital One’s prequalifying tool and was prequalified for an unsecured Platinum which I apped for, and was approved for on November 30, 2017. The balance was $300, and it was a rebuilding card, but I was grateful.(P.S. I learned about the prequalifying from you all. Thanks!!)
Equifax gave me a score several months later, (it was fairly high for someone with a thin file). But no Experian score until about May 2018.
I had learned from the forums not to apply for too much credit at one time so I decided to wait for a bit and be sure that I used the card properly by not only paying my balance every month, but by paying it in full, as I tried to establish a strong credit profile.
I did well with managing my credit, as my TransUnion, Equifax and Experian scores crept up to more than 700 over the past year.
I ended up pre-qualifying online for a Discover IT card, on May 30 2018 (myfico forums had said that Discover likes thin credit files. Thanks!!!). I apped for it, and was almost beside myself when I saw a $2,000 SL! It might not seem like much but with a thin file, and not having good credit or a credit score for so long, and a low income in the mid $30,000s, I was more than satisfied!! (I saw my prequalification letter in the mail for Discover after the fact). Meanwhile my credit score kept climbing (although there were several fluctuations).
Then on September 2, 2018, I had a prequal online for Amex and a prequal in the mail as well, so I said “What the heck” and applied and got a $4000 SL. I almost screamed, lol.

Currently, my Fico 08 scores as of 12/5/2108 are:
Experian – 728
Equifax – 749
TransUnion – 828.
I have 3 accounts open with a total limit of $18, 500, although no credit report shows that total amount yet due to 2 recent CLIs.
Capital One Quicksilver: Current CL - $2500 (Opened November 30, 2017). (Began at $300, then to $500 (after Credit Steps. PC’d from Platinum (due to a tip from myfico forums!) and now with a CLI in September to $2500
Discover It: Current CL - $4,000 (Opened May 30, 2018). (Began at $2000, went to $2300 with CLI in August, and after immediate recon to backdoor number (learned from myfico forums) it was further increased to $2700. Another CLI in November to $3200, and then another recon to backdoor # to $4,000 CL).
Amex Everyday Card: Current CL - $12,000 (Opened September 3, 2018). (Began at $4,000, and was eligible for a 3xCLI on the 61st day, but due to having a balance on the card, waited until November 30, 2018 and was instantly approved for the 3xCLI to $12,000 @(I could not believe it!!! Thank you, myfico forums!!! and people such as @MustangSaluki, @UncleBob, @Anonymous, @AverageJoesCredit, and the rest of you frequent contributors, whose names fail me right now!!!)
My AAoA is 8 months for Experian and Equifax and 3yrs 5 months for TransUnion (TransUnion has the old Tribute account which is 11 yrs 10 mos old).
Experian is currently showing my Amex current CL of $12,000 and the other 2 are still showing $4000, and all 3 bureaus are showing a $2500 CL for Capital One and a $2700 CL for Discover as they have not all been updated yet (**The most recent CLIs were only done last week on 11/30/18/30**)
My total utilization for Experian is listed at 1% for a current $170 CapOne balance (others at zero) from last month, and Equifax and TransUnion are showing a 4% utilization for a combined $170 from CapOne (current) and $167 from Amex (from November which hasn’t been updated yet as December Amex closed at zero on 12/2/18).
I have 2 inquiries for Experian, 1 for Equifax and 1 for TransUnion.

1) So....after all of that, I was thinking of applying for a new account since it has been 3 months since my I got my Amex ED card, and I have recently received additional CLIs on all 3 of my accounts.
I currently have prequalifications for:
All of the Amex accounts;
Citi Double Cash and Citi Simplicity and another Citi Premier (Citi DC is at the top, the other 2 are side by side at the bottom of the screen) (These suddenly showed up 2-3 weeks ago);
CapOne Quicksilver Rewards Visa, Venture Rewards, Savor and SavorOne;
US Bank Cash+ Visa Signature Card, US Bank Cash 365 Amex Card and US Bank FlexPerks Travel Rewards Visa Signature Card.
2) Also I have read about the Chase 5/24 rule, and I was wondering if I should take a shot at Chase? I am 3/24, but presently I have no pre-qualifications for any of their cards. Would I even have a chance? Or should I just leave Chase alone?
3) I would like a good card with a decent SL so I am wondering which one to choose. I don’t want to waste any hard pulls, nor do I want to apply for too many cards and look desperate.
4) I was also thinking of the possibility of apping for 2 cards at once, but I know that some credit card companies so not like to see other inquiries around the same time as theirs, for eg. Chase and perhaps Citi.
5) I think that Amex will be a soft pull, but again should I attempt Chase and/or Citi or even CapOne (although the CapOne 3 hard pulls is annoying).
6) Which cards will give me the best SL? And which do you think that I would be best qualified for? And what about apping for 2 cards at once?
I really don’t want to mess up my credit at this stage.

*Keep in mind that the new Amex $12000 CL is only showing on Experian, but NOT Equifax and TransUnion, and the new Discover $4000 CL is only showing up on Equifax and TransUnion, but NOT Experian. My total CL should be $18, 500: $2500 + $4000 + $12000.

Sorry for the length of the message!! I have been reading up to find an answer for days now, but I couldn't find a definitive, or close to definitive one, so I decided to ask you guys myself. (Also, I can be longwinded sometimes (to say the least, lol).)

I would appreciate any input and advice!!! Thank you!!!

Congratulations. Terrific job on turning things around.

As to your question, as others have already pointed out, you leave out one important factor: what do you want or need in a credit card? Maybe you don't need another card.

If you want a travel card, my advice would be to wait a month or two until it's indisputable that you have more than a year of history across the board, and then take a shot at the Chase Sapphire Preferred or Chase Sapphire Reserve, whichever is better suited to your needs. Another good travel card IMHO is the Citi Premier which you mentioned.

If you want a low-interest, low-fee, card your best bet would be a platinum card from a credit union.

If you want another cash back card, the Citi Double Cash, for which you're prequalified, is solid.

Re: Credit Application Advice, Please!

Anonymous — Sun, 09 Dec 2018 02:15:51 GMT

Thank you, CreditInspired! I have been trying my best. Plus, I figured that 7 years of waiting to get back into the credit game was long enough, lol. And if I had the patience to wait 7 years, then I should have the patience to do it RIGHT this go around. I don't think that I could go another 7 years if I were to completely mess up this time, lol.

But, when I first began looking for information regarding how to use credit responsibly, my Google searches kept on pulling up answers from myFicoForums, so you guys became my go to for information, and there was always so much of it! I would literally read these forums for hours on end! I have been telling my friends about you all too. My mantra now is "On myficoforums they say..." LOL!

Also one of my friends, was able to apply for and get a secured card, and put her fiance on as an authorized user (as he had no credit at all), and in about 9 months they were able to qualify for a mortgage for their first home! I was so proud of them! And another friend got her foot in the door with a Capital One Secured card, which has now been unsecured and has increased to $1250, but she did jump the gun and get a Credit One before checking with me, and it has been a mess to deal with. Now, I'm the credit guru to my friends, lol. They know I get my information from you guys, but the rest of them are not online as much as I am.

But, the best part is that my husband is finally listening and learning how to use credit responsibly. His credit score was in the low 500s and maybe high 400s, but is now in the 600s and one is 700, all in the space of about 3 months. Although I did add him as an AU on my cards, though (after which his score went up like 83 points virtually over night), and he recently qualified for an unsecured Capital One Platinum, although he still is a bit impatient, but I tell him it's to safeguard our future. He even talks about utilization, now! Lol. And freaks out when his credit score drops a few points. LOL. I tell him that it is kind of like a roller coaster, you have the highs and lows, but just keep doing the right thing and it will all even out, and work out in the end.

Thank you, again!

Re: Credit Application Advice, Please!

Anonymous — Sun, 09 Dec 2018 02:28:00 GMT

Wow. You're an inspiration to us all; a testament to how a disciplined approach to credit will yield excellent results.

BTW, do you currently have an open installment loan?

Re: Credit Application Advice, Please!

Anonymous — Sun, 09 Dec 2018 02:37:11 GMT

Thank you, Saeren!

I kind of like the cash back cards, and the rewards card from Amex is good, although I haven't had the chance to use any of it, yet. Saving up the rewards for now. Not traveling at the moment, probably not for at least another year or two, so travel is not that important to me.

I had briefly looked at NFCU and PenFed, but I didn't think that I would be eligible for either of them, because no military (NFCU) and not enough history (PenFed).

Yeah, I did read that low $500 limit with US Bank on a few posts, too. But, I figured I would put it out there to see if anyone else had greater luck with them.

Part of the reason that I want a higher limit is because I know that I will be helping out my sister and her kids for a bit while she gets sorted out, and I just want to try and make sure that in the event I needed to leave a bit more than I do now (although I usually pay to zero, and when I don't I try to keep it at 4-6% or less utilization), that I am covered with the utilization. For me, getting another card is more of a practical move right now, although I would like to reach that 5 card threshhold so I don't get the message that I have too few cards. But, I am open when it comes to choices of rewards, cashback, miles, etc.

Re: Credit Application Advice, Please!

Anonymous — Sun, 09 Dec 2018 02:44:46 GMT

@Anonymous wrote:
Welcome to myFICO!

It sounds like you have a lot of options.

You already have a 1.5% card, a rotating 5% card, and an Amex rewards card so what exactly are you looking for?

High SLs tend to be more common with credit unions like NFCU and PenFed, they also offer some of the lowest interest cards around as well if you forego rewards, the PayPal MasterCard is a 2% rewards card without gimmicks.

US Bank has great credit products but they tend to be conservative and if you don’t bank with them, they’re well known for kicking $500 limits at you.

It would help to know what exactly you’re interested in with a credit card - but high SLs seem to be incredibly common with the two CUs I mentioned.

I missed the part about the PayPal Mastercard. I will have to look into that one. It honestly didn't cross my mind, probably because I have only heard about it a couple of times.

(I finally figured out how to quote! Lol! Didn't see the big button up there to the right for some reason, lol!)

Re: Credit Application Advice, Please!

Anonymous — Sun, 09 Dec 2018 02:52:13 GMT

@Pikaboo-icu wrote:
Welome to My Fico, I'm glad you're out of the shadows. lol

What a fantastic journey you've had! Congrats!!
Honestly; with where you are right now, you can probably get just about any card on your list.
It's going to come down to what you're looking for-

I have US Bank Cash+ and they may be known as conservative but they gave me an $8000 SL with no prior relationship.
Amex WILL be SP's for you-
Citi is a good bet, I have the Costco Citi card & I'm happy with it.

If you have a way into NFCU, I highly recommend them- they have great cards & are truly a wonderful CU..
I'm not chasing Chase so IDK much about them.

I'm sure others will offer up some thoughts but it's up to you to decide what you want out of your next card.

CHEERS

Thank you, Pikaboo-icu!

Glad to finally be out of the shadows. Although, I do have to learn to type in short bursts like you guys, otherwise with my long-windedness I will be typing all day, lol!

Good to hear that US Bank sometimes gives higher SL. But, do you mind if I ask, what was your credit profile like when you apped them, in terms of length of history, # of cards, avg. income, scores, etc.? And what are Citi's SL like, especially for someone with my profile?

Also do you think that two cards at once is too much? Or should I just stick to one?

Thanks!

Re: Credit Application Advice, Please!

Pikaboo-icu — Sun, 09 Dec 2018 03:06:00 GMT

@Anonymous wrote:

Thank you, Pikaboo-icu!

Glad to finally be out of the shadows. Although, I do have to learn to type in short bursts like you guys, otherwise with my long-windedness I will be typing all day, lol!

Good to hear that US Bank sometimes gives higher SL. But, do you mind if I ask, what was your credit profile like when you apped them, in terms of length of history, # of cards, avg. income, scores, etc.? And what are Citi's SL like, especially for someone with my profile?

Also do you think that two cards at once is too much? Or should I just stick to one?

Thanks!

To the best of my recollection; when I got my US Bank Cash+ I was lower 700's, very low uti under 3% as I PIF all my cards, usually.

My income is 68,000 and I had a couple inq on all my CBs. My oldest acct was 3-4 years at time of app.

So TBH your profile is stronger than mine when I got the card.

I got the Citi Costco card early in my rebuild, SL 2200, after realizing I needed to ask for a cli (dope) it went to $5000. and just today another cli to $8000. That was a SP increase, could've got more with a HP.

I believe Citi gives decent SL but I was a bit of a credit newbie when I app'd so you would probably do a lot better than that.

I think you're golden to go for 2 new cards- if that fits your needs.

Keep us updated on your progress!!

Good Luck

Re: Credit Application Advice, Please!

Anonymous — Sun, 09 Dec 2018 03:10:26 GMT

@SouthJamaica wrote:
@Anonymous wrote:
Hello, everyone!
I have been lurking (and learning) on your myfico forums for a while now, attempting to absorb all of the wisdom that I could from you guys as I attempted to get back into the game and rebuild my credit, after 7 years of being patient and waiting for my mistakes to drop off of my credit reports. So, I would like to first say thank you to you all for your many posts relating your experiences and giving advice to others, as it has helped me tremendously in my credit journey over the past year.

A little information about my credit situation:
After all of the baddies (collections & lates) had dropped off of my credit in 2017, I was left at first with absolutely NO credit score at all.
However, I had an old Tribute Mastercard from 2007 that was still showing as being in good standing, as when the company closed in 2010, although I had a balance left on my card, they posted that I had been paying as agreed with no lates, and that my balance had been completely paid off to 0 (from a $1100 credit line). I couldn’t believe it but I was grateful!!!
So, shortly after the baddies dropped off, Transunion suddenly posted a credit score for me in the 660s to 680s (can’t remember the exact score now), but unfortunately at first Experian and Equifax could not generate any scores for me. Extremely Thin File!
After a while, I used Capital One’s prequalifying tool and was prequalified for an unsecured Platinum which I apped for, and was approved for on November 30, 2017. The balance was $300, and it was a rebuilding card, but I was grateful.(P.S. I learned about the prequalifying from you all. Thanks!!)
Equifax gave me a score several months later, (it was fairly high for someone with a thin file). But no Experian score until about May 2018.
I had learned from the forums not to apply for too much credit at one time so I decided to wait for a bit and be sure that I used the card properly by not only paying my balance every month, but by paying it in full, as I tried to establish a strong credit profile.
I did well with managing my credit, as my TransUnion, Equifax and Experian scores crept up to more than 700 over the past year.
I ended up pre-qualifying online for a Discover IT card, on May 30 2018 (myfico forums had said that Discover likes thin credit files. Thanks!!!). I apped for it, and was almost beside myself when I saw a $2,000 SL! It might not seem like much but with a thin file, and not having good credit or a credit score for so long, and a low income in the mid $30,000s, I was more than satisfied!! (I saw my prequalification letter in the mail for Discover after the fact). Meanwhile my credit score kept climbing (although there were several fluctuations).
Then on September 2, 2018, I had a prequal online for Amex and a prequal in the mail as well, so I said “What the heck” and applied and got a $4000 SL. I almost screamed, lol.

Currently, my Fico 08 scores as of 12/5/2108 are:
Experian – 728
Equifax – 749
TransUnion – 828.
I have 3 accounts open with a total limit of $18, 500, although no credit report shows that total amount yet due to 2 recent CLIs.
Capital One Quicksilver: Current CL - $2500 (Opened November 30, 2017). (Began at $300, then to $500 (after Credit Steps. PC’d from Platinum (due to a tip from myfico forums!) and now with a CLI in September to $2500
Discover It: Current CL - $4,000 (Opened May 30, 2018). (Began at $2000, went to $2300 with CLI in August, and after immediate recon to backdoor number (learned from myfico forums) it was further increased to $2700. Another CLI in November to $3200, and then another recon to backdoor # to $4,000 CL).
Amex Everyday Card: Current CL - $12,000 (Opened September 3, 2018). (Began at $4,000, and was eligible for a 3xCLI on the 61st day, but due to having a balance on the card, waited until November 30, 2018 and was instantly approved for the 3xCLI to $12,000 @(I could not believe it!!! Thank you, myfico forums!!! and people such as @MustangSaluki, @UncleBob, @Anonymous, @AverageJoesCredit, and the rest of you frequent contributors, whose names fail me right now!!!)
My AAoA is 8 months for Experian and Equifax and 3yrs 5 months for TransUnion (TransUnion has the old Tribute account which is 11 yrs 10 mos old).
Experian is currently showing my Amex current CL of $12,000 and the other 2 are still showing $4000, and all 3 bureaus are showing a $2500 CL for Capital One and a $2700 CL for Discover as they have not all been updated yet (**The most recent CLIs were only done last week on 11/30/18/30**)
My total utilization for Experian is listed at 1% for a current $170 CapOne balance (others at zero) from last month, and Equifax and TransUnion are showing a 4% utilization for a combined $170 from CapOne (current) and $167 from Amex (from November which hasn’t been updated yet as December Amex closed at zero on 12/2/18).
I have 2 inquiries for Experian, 1 for Equifax and 1 for TransUnion.

1) So....after all of that, I was thinking of applying for a new account since it has been 3 months since my I got my Amex ED card, and I have recently received additional CLIs on all 3 of my accounts.
I currently have prequalifications for:
All of the Amex accounts;
Citi Double Cash and Citi Simplicity and another Citi Premier (Citi DC is at the top, the other 2 are side by side at the bottom of the screen) (These suddenly showed up 2-3 weeks ago);
CapOne Quicksilver Rewards Visa, Venture Rewards, Savor and SavorOne;
US Bank Cash+ Visa Signature Card, US Bank Cash 365 Amex Card and US Bank FlexPerks Travel Rewards Visa Signature Card.
2) Also I have read about the Chase 5/24 rule, and I was wondering if I should take a shot at Chase? I am 3/24, but presently I have no pre-qualifications for any of their cards. Would I even have a chance? Or should I just leave Chase alone?
3) I would like a good card with a decent SL so I am wondering which one to choose. I don’t want to waste any hard pulls, nor do I want to apply for too many cards and look desperate.
4) I was also thinking of the possibility of apping for 2 cards at once, but I know that some credit card companies so not like to see other inquiries around the same time as theirs, for eg. Chase and perhaps Citi.
5) I think that Amex will be a soft pull, but again should I attempt Chase and/or Citi or even CapOne (although the CapOne 3 hard pulls is annoying).
6) Which cards will give me the best SL? And which do you think that I would be best qualified for? And what about apping for 2 cards at once?
I really don’t want to mess up my credit at this stage.

*Keep in mind that the new Amex $12000 CL is only showing on Experian, but NOT Equifax and TransUnion, and the new Discover $4000 CL is only showing up on Equifax and TransUnion, but NOT Experian. My total CL should be $18, 500: $2500 + $4000 + $12000.

Sorry for the length of the message!! I have been reading up to find an answer for days now, but I couldn't find a definitive, or close to definitive one, so I decided to ask you guys myself. (Also, I can be longwinded sometimes (to say the least, lol).)

I would appreciate any input and advice!!! Thank you!!!
Congratulations. Terrific job on turning things around.

As to your question, as others have already pointed out, you leave out one important factor: what do you want or need in a credit card? Maybe you don't need another card.

If you want a travel card, my advice would be to wait a month or two until it's indisputable that you have more than a year of history across the board, and then take a shot at the Chase Sapphire Preferred or Chase Sapphire Reserve, whichever is better suited to your needs. Another good travel card IMHO is the Citi Premier which you mentioned.

If you want a low-interest, low-fee, card your best bet would be a platinum card from a credit union.

If you want another cash back card, the Citi Double Cash, for which you're prequalified, is solid.

Thank you, SouthJamaica!

You were one of the names that I would see often when I checked the forums, too! Your advice helped tremendously, as well. I am just horrible at remembering names, usually.

I want to get another card, for a couple of reasons: 1) to increase my utilization as I know that I will be helping my sister and her kids cover her bills for a bit until she gets sorted out, and although I usually pay to zero, or try to keep a max of 6% utilization, I wanted an extra buffer just in case I needed to leave more on my card; and 2) I wanted to get over that threshhold of seeing the message that I have too few cards, and to be able to continue to build a thicker profile, too.

I had read about Chase cards, but if I waited a month or two to apply for the CSP or CSR, would I need to forgo any apps right now? As I read that they are sensitive to inquiries or newly opened accounts. Although, I suppose if I apped for another Amex card, it would be a SP and it wouldn't show up for at least a couple of month, but then again, I heard that Chase will close accounts if you open up another too soon after theirs? I've read that Chase's cards are good, but are they really worth it?

As for the credit unions, I hadn't really looked too much into them because they always seemed to have so many restrictions to membership.

I was really considering the Citi Double Cash, as my friend has it and loves it, although she says they start out low. Do they always do that? And if the Citi Premier was listed below the Double Cash, is that still a solid pre-approval?

My biggest thing right now, I guess, is trying to get a high SL, to ensure that my utilization stays low as I mentioned above. I am somewhat open to the type of card that I get, once it is a good company.

Re: Credit Application Advice, Please!

Anonymous — Sun, 09 Dec 2018 03:37:21 GMT

@Anonymous wrote:
Wow. You're an inspiration to us all; a testament to how a disciplined approach to credit will yield excellent results.

BTW, do you currently have an open installment loan?

Thank you, MaizeandBlue!

Patience and discipline are indeed, key. And I really don't have the patience to wait another 7 years for everything to drop off agaim, though! Lol!

No, I don't have any loans at all. I was thinking about doing a Self Lender loan though, as I had found out about that and suggested it to a friend after she got her Capital One Secured card (from advice that I got on myfico forums, lol). It worked out pretty well for her.

Re: Credit Application Advice, Please!

SouthJamaica — Sun, 09 Dec 2018 03:54:01 GMT

@Anonymous wrote:
@SouthJamaica wrote:
@Anonymous wrote:
Hello, everyone!
I have been lurking (and learning) on your myfico forums for a while now, attempting to absorb all of the wisdom that I could from you guys as I attempted to get back into the game and rebuild my credit, after 7 years of being patient and waiting for my mistakes to drop off of my credit reports. So, I would like to first say thank you to you all for your many posts relating your experiences and giving advice to others, as it has helped me tremendously in my credit journey over the past year.

A little information about my credit situation:
After all of the baddies (collections & lates) had dropped off of my credit in 2017, I was left at first with absolutely NO credit score at all.
However, I had an old Tribute Mastercard from 2007 that was still showing as being in good standing, as when the company closed in 2010, although I had a balance left on my card, they posted that I had been paying as agreed with no lates, and that my balance had been completely paid off to 0 (from a $1100 credit line). I couldn’t believe it but I was grateful!!!
So, shortly after the baddies dropped off, Transunion suddenly posted a credit score for me in the 660s to 680s (can’t remember the exact score now), but unfortunately at first Experian and Equifax could not generate any scores for me. Extremely Thin File!
After a while, I used Capital One’s prequalifying tool and was prequalified for an unsecured Platinum which I apped for, and was approved for on November 30, 2017. The balance was $300, and it was a rebuilding card, but I was grateful.(P.S. I learned about the prequalifying from you all. Thanks!!)
Equifax gave me a score several months later, (it was fairly high for someone with a thin file). But no Experian score until about May 2018.
I had learned from the forums not to apply for too much credit at one time so I decided to wait for a bit and be sure that I used the card properly by not only paying my balance every month, but by paying it in full, as I tried to establish a strong credit profile.
I did well with managing my credit, as my TransUnion, Equifax and Experian scores crept up to more than 700 over the past year.
I ended up pre-qualifying online for a Discover IT card, on May 30 2018 (myfico forums had said that Discover likes thin credit files. Thanks!!!). I apped for it, and was almost beside myself when I saw a $2,000 SL! It might not seem like much but with a thin file, and not having good credit or a credit score for so long, and a low income in the mid $30,000s, I was more than satisfied!! (I saw my prequalification letter in the mail for Discover after the fact). Meanwhile my credit score kept climbing (although there were several fluctuations).
Then on September 2, 2018, I had a prequal online for Amex and a prequal in the mail as well, so I said “What the heck” and applied and got a $4000 SL. I almost screamed, lol.

Currently, my Fico 08 scores as of 12/5/2108 are:
Experian – 728
Equifax – 749
TransUnion – 828.
I have 3 accounts open with a total limit of $18, 500, although no credit report shows that total amount yet due to 2 recent CLIs.
Capital One Quicksilver: Current CL - $2500 (Opened November 30, 2017). (Began at $300, then to $500 (after Credit Steps. PC’d from Platinum (due to a tip from myfico forums!) and now with a CLI in September to $2500
Discover It: Current CL - $4,000 (Opened May 30, 2018). (Began at $2000, went to $2300 with CLI in August, and after immediate recon to backdoor number (learned from myfico forums) it was further increased to $2700. Another CLI in November to $3200, and then another recon to backdoor # to $4,000 CL).
Amex Everyday Card: Current CL - $12,000 (Opened September 3, 2018). (Began at $4,000, and was eligible for a 3xCLI on the 61st day, but due to having a balance on the card, waited until November 30, 2018 and was instantly approved for the 3xCLI to $12,000 @(I could not believe it!!! Thank you, myfico forums!!! and people such as @MustangSaluki, @UncleBob, @Anonymous, @AverageJoesCredit, and the rest of you frequent contributors, whose names fail me right now!!!)
My AAoA is 8 months for Experian and Equifax and 3yrs 5 months for TransUnion (TransUnion has the old Tribute account which is 11 yrs 10 mos old).
Experian is currently showing my Amex current CL of $12,000 and the other 2 are still showing $4000, and all 3 bureaus are showing a $2500 CL for Capital One and a $2700 CL for Discover as they have not all been updated yet (**The most recent CLIs were only done last week on 11/30/18/30**)
My total utilization for Experian is listed at 1% for a current $170 CapOne balance (others at zero) from last month, and Equifax and TransUnion are showing a 4% utilization for a combined $170 from CapOne (current) and $167 from Amex (from November which hasn’t been updated yet as December Amex closed at zero on 12/2/18).
I have 2 inquiries for Experian, 1 for Equifax and 1 for TransUnion.

1) So....after all of that, I was thinking of applying for a new account since it has been 3 months since my I got my Amex ED card, and I have recently received additional CLIs on all 3 of my accounts.
I currently have prequalifications for:
All of the Amex accounts;
Citi Double Cash and Citi Simplicity and another Citi Premier (Citi DC is at the top, the other 2 are side by side at the bottom of the screen) (These suddenly showed up 2-3 weeks ago);
CapOne Quicksilver Rewards Visa, Venture Rewards, Savor and SavorOne;
US Bank Cash+ Visa Signature Card, US Bank Cash 365 Amex Card and US Bank FlexPerks Travel Rewards Visa Signature Card.
2) Also I have read about the Chase 5/24 rule, and I was wondering if I should take a shot at Chase? I am 3/24, but presently I have no pre-qualifications for any of their cards. Would I even have a chance? Or should I just leave Chase alone?
3) I would like a good card with a decent SL so I am wondering which one to choose. I don’t want to waste any hard pulls, nor do I want to apply for too many cards and look desperate.
4) I was also thinking of the possibility of apping for 2 cards at once, but I know that some credit card companies so not like to see other inquiries around the same time as theirs, for eg. Chase and perhaps Citi.
5) I think that Amex will be a soft pull, but again should I attempt Chase and/or Citi or even CapOne (although the CapOne 3 hard pulls is annoying).
6) Which cards will give me the best SL? And which do you think that I would be best qualified for? And what about apping for 2 cards at once?
I really don’t want to mess up my credit at this stage.

*Keep in mind that the new Amex $12000 CL is only showing on Experian, but NOT Equifax and TransUnion, and the new Discover $4000 CL is only showing up on Equifax and TransUnion, but NOT Experian. My total CL should be $18, 500: $2500 + $4000 + $12000.

Sorry for the length of the message!! I have been reading up to find an answer for days now, but I couldn't find a definitive, or close to definitive one, so I decided to ask you guys myself. (Also, I can be longwinded sometimes (to say the least, lol).)

I would appreciate any input and advice!!! Thank you!!!
Congratulations. Terrific job on turning things around.

As to your question, as others have already pointed out, you leave out one important factor: what do you want or need in a credit card? Maybe you don't need another card.

If you want a travel card, my advice would be to wait a month or two until it's indisputable that you have more than a year of history across the board, and then take a shot at the Chase Sapphire Preferred or Chase Sapphire Reserve, whichever is better suited to your needs. Another good travel card IMHO is the Citi Premier which you mentioned.

If you want a low-interest, low-fee, card your best bet would be a platinum card from a credit union.

If you want another cash back card, the Citi Double Cash, for which you're prequalified, is solid.
Thank you, SouthJamaica!

You were one of the names that I would see often when I checked the forums, too! Your advice helped tremendously, as well. I am just horrible at remembering names, usually.

I want to get another card, for a couple of reasons: 1) to increase my utilization as I know that I will be helping my sister and her kids cover her bills for a bit until she gets sorted out, and although I usually pay to zero, or try to keep a max of 6% utilization, I wanted an extra buffer just in case I needed to leave more on my card; and 2) I wanted to get over that threshhold of seeing the message that I have too few cards,

That is not a meaningful message; you have enough cards to get an 850 score, so forget that as a reason.

and to be able to continue to build a thicker profile, too.

I had read about Chase cards, but if I waited a month or two to apply for the CSP or CSR, would I need to forgo any apps right now?

Yes, Chase wants you to be committed to their card.

As I read that they are sensitive to inquiries or newly opened accounts.

They have a strict rule that you can't get a card if you have 5 new cards within the past 24 months.
If you want a Chase card, apply for that before you apply for any other cards.

Although, I suppose if I apped for another Amex card, it would be a SP and it wouldn't show up for at least a couple of month,

Whether it's a a SP or not has nothing to do with whether it will show up as a new account. It will show up. And it could show up as soon as within a couple of days.

but then again, I heard that Chase will close accounts if you open up another too soon after theirs?

Sometimes they do but I don't think you need to worry about that unless you go hog wild.

I've read that Chase's cards are good, but are they really worth it?

I don't know because I don't have either the Sapphire or the Reserve and I'm not great at maximizing rewards points. But I think there's pretty much a consensus among the knowledgeable folks that the CSP & CSR are great travel cards, especially if you use Chase's travel partners. But the afficionados will tell you that if you are more likely to use Amex travel partners, you might be better off with an Amex MR card than a Chase UR card.

As for the credit unions, I hadn't really looked too much into them because they always seemed to have so many restrictions to membership.

Some do and some don't. Some that are open to all: PenFed, DCU, Langley, Andigo, Unify, UFCU, Summit, Northwest, Lake Michigan, Evansville Teachers, Hanscom, Alliant, Affinity.

I was really considering the Citi Double Cash, as my friend has it and loves it, although she says they start out low. Do they always do that?

Not always, but they did start me low, and they are reputed to do that a lot.

And if the Citi Premier was listed below the Double Cash, is that still a solid pre-approval?

I don't know why it would matter where it was listed. Either it's a preapproval or it's not.

My biggest thing right now, I guess, is trying to get a high SL, to ensure that my utilization stays low as I mentioned above. I am somewhat open to the type of card that I get, once it is a good company.

I used to think that way, but eventually stopped thinking that way because it got me into cards that I really had little use for over the long run.

If you have any relatives who have been in the military you could get into NFCU, which is good at giving healthy starting limits. It's also a great credit union in general.

Re: Credit Application Advice, Please!

Anonymous — Sun, 09 Dec 2018 03:51:28 GMT

@Pikaboo-icu wrote:
@Anonymous wrote:

Thank you, Pikaboo-icu!

Glad to finally be out of the shadows. Although, I do have to learn to type in short bursts like you guys, otherwise with my long-windedness I will be typing all day, lol!

Good to hear that US Bank sometimes gives higher SL. But, do you mind if I ask, what was your credit profile like when you apped them, in terms of length of history, # of cards, avg. income, scores, etc.? And what are Citi's SL like, especially for someone with my profile?

Also do you think that two cards at once is too much? Or should I just stick to one?

Thanks!

To the best of my recollection; when I got my US Bank Cash+ I was lower 700's, very low uti under 3% as I PIF all my cards, usually.
My income is 68,000 and I had a couple inq on all my CBs. My oldest acct was 3-4 years at time of app.
So TBH your profile is stronger than mine when I got the card.
I got the Citi Costco card early in my rebuild, SL 2200, after realizing I needed to ask for a cli (dope) it went to $5000. and just today another cli to $8000. That was a SP increase, could've got more with a HP.
I believe Citi gives decent SL but I was a bit of a credit newbie when I app'd so you would probably do a lot better than that.

I think you're golden to go for 2 new cards- if that fits your needs.
Keep us updated on your progress!!

Good Luck

Thanks for replying so quickly!

So, even though my income is much lower than yours was at the time you apped, $37,000 as compared to $68,000, and my oldest account is only 1 year, as opposed to 3-4 years (unless they pull TransUnion which shows a closed account in good standing at 11yrs 10mths), you still think that I would have as good a chance as you did with US Bank?

As for Citi, the same question above applies as my income and oldest accounts are lower than yours. And, when did you do that first CLI? Was it shortly after you apped?

I am thinking hard about trying for two at the same time, to be honest. Have to figure out how I feel about Chase though. Citi and US Bank aren't sensitive to close inquiries are they? Although I could do Amex with a SP.

But, I will be sure to keep you guys updated though. I can't wait to be able to give some data points (DPs) like you guys, do! Lol.

Thanks, again!

Re: Credit Application Advice, Please!

Anonymous — Sun, 09 Dec 2018 04:23:29 GMT

@SouthJamaica wrote:
@Anonymous wrote:
@SouthJamaica wrote:
@Anonymous wrote:
Hello, everyone!
I have been lurking (and learning) on your myfico forums for a while now, attempting to absorb all of the wisdom that I could from you guys as I attempted to get back into the game and rebuild my credit, after 7 years of being patient and waiting for my mistakes to drop off of my credit reports. So, I would like to first say thank you to you all for your many posts relating your experiences and giving advice to others, as it has helped me tremendously in my credit journey over the past year.

A little information about my credit situation:
After all of the baddies (collections & lates) had dropped off of my credit in 2017, I was left at first with absolutely NO credit score at all.
However, I had an old Tribute Mastercard from 2007 that was still showing as being in good standing, as when the company closed in 2010, although I had a balance left on my card, they posted that I had been paying as agreed with no lates, and that my balance had been completely paid off to 0 (from a $1100 credit line). I couldn’t believe it but I was grateful!!!
So, shortly after the baddies dropped off, Transunion suddenly posted a credit score for me in the 660s to 680s (can’t remember the exact score now), but unfortunately at first Experian and Equifax could not generate any scores for me. Extremely Thin File!
After a while, I used Capital One’s prequalifying tool and was prequalified for an unsecured Platinum which I apped for, and was approved for on November 30, 2017. The balance was $300, and it was a rebuilding card, but I was grateful.(P.S. I learned about the prequalifying from you all. Thanks!!)
Equifax gave me a score several months later, (it was fairly high for someone with a thin file). But no Experian score until about May 2018.
I had learned from the forums not to apply for too much credit at one time so I decided to wait for a bit and be sure that I used the card properly by not only paying my balance every month, but by paying it in full, as I tried to establish a strong credit profile.
I did well with managing my credit, as my TransUnion, Equifax and Experian scores crept up to more than 700 over the past year.
I ended up pre-qualifying online for a Discover IT card, on May 30 2018 (myfico forums had said that Discover likes thin credit files. Thanks!!!). I apped for it, and was almost beside myself when I saw a $2,000 SL! It might not seem like much but with a thin file, and not having good credit or a credit score for so long, and a low income in the mid $30,000s, I was more than satisfied!! (I saw my prequalification letter in the mail for Discover after the fact). Meanwhile my credit score kept climbing (although there were several fluctuations).
Then on September 2, 2018, I had a prequal online for Amex and a prequal in the mail as well, so I said “What the heck” and applied and got a $4000 SL. I almost screamed, lol.

Currently, my Fico 08 scores as of 12/5/2108 are:
Experian – 728
Equifax – 749
TransUnion – 828.
I have 3 accounts open with a total limit of $18, 500, although no credit report shows that total amount yet due to 2 recent CLIs.
Capital One Quicksilver: Current CL - $2500 (Opened November 30, 2017). (Began at $300, then to $500 (after Credit Steps. PC’d from Platinum (due to a tip from myfico forums!) and now with a CLI in September to $2500
Discover It: Current CL - $4,000 (Opened May 30, 2018). (Began at $2000, went to $2300 with CLI in August, and after immediate recon to backdoor number (learned from myfico forums) it was further increased to $2700. Another CLI in November to $3200, and then another recon to backdoor # to $4,000 CL).
Amex Everyday Card: Current CL - $12,000 (Opened September 3, 2018). (Began at $4,000, and was eligible for a 3xCLI on the 61st day, but due to having a balance on the card, waited until November 30, 2018 and was instantly approved for the 3xCLI to $12,000 @(I could not believe it!!! Thank you, myfico forums!!! and people such as @MustangSaluki, @UncleBob, @Anonymous, @AverageJoesCredit, and the rest of you frequent contributors, whose names fail me right now!!!)
My AAoA is 8 months for Experian and Equifax and 3yrs 5 months for TransUnion (TransUnion has the old Tribute account which is 11 yrs 10 mos old).
Experian is currently showing my Amex current CL of $12,000 and the other 2 are still showing $4000, and all 3 bureaus are showing a $2500 CL for Capital One and a $2700 CL for Discover as they have not all been updated yet (**The most recent CLIs were only done last week on 11/30/18/30**)
My total utilization for Experian is listed at 1% for a current $170 CapOne balance (others at zero) from last month, and Equifax and TransUnion are showing a 4% utilization for a combined $170 from CapOne (current) and $167 from Amex (from November which hasn’t been updated yet as December Amex closed at zero on 12/2/18).
I have 2 inquiries for Experian, 1 for Equifax and 1 for TransUnion.

1) So....after all of that, I was thinking of applying for a new account since it has been 3 months since my I got my Amex ED card, and I have recently received additional CLIs on all 3 of my accounts.
I currently have prequalifications for:
All of the Amex accounts;
Citi Double Cash and Citi Simplicity and another Citi Premier (Citi DC is at the top, the other 2 are side by side at the bottom of the screen) (These suddenly showed up 2-3 weeks ago);
CapOne Quicksilver Rewards Visa, Venture Rewards, Savor and SavorOne;
US Bank Cash+ Visa Signature Card, US Bank Cash 365 Amex Card and US Bank FlexPerks Travel Rewards Visa Signature Card.
2) Also I have read about the Chase 5/24 rule, and I was wondering if I should take a shot at Chase? I am 3/24, but presently I have no pre-qualifications for any of their cards. Would I even have a chance? Or should I just leave Chase alone?
3) I would like a good card with a decent SL so I am wondering which one to choose. I don’t want to waste any hard pulls, nor do I want to apply for too many cards and look desperate.
4) I was also thinking of the possibility of apping for 2 cards at once, but I know that some credit card companies so not like to see other inquiries around the same time as theirs, for eg. Chase and perhaps Citi.
5) I think that Amex will be a soft pull, but again should I attempt Chase and/or Citi or even CapOne (although the CapOne 3 hard pulls is annoying).
6) Which cards will give me the best SL? And which do you think that I would be best qualified for? And what about apping for 2 cards at once?
I really don’t want to mess up my credit at this stage.

*Keep in mind that the new Amex $12000 CL is only showing on Experian, but NOT Equifax and TransUnion, and the new Discover $4000 CL is only showing up on Equifax and TransUnion, but NOT Experian. My total CL should be $18, 500: $2500 + $4000 + $12000.

Sorry for the length of the message!! I have been reading up to find an answer for days now, but I couldn't find a definitive, or close to definitive one, so I decided to ask you guys myself. (Also, I can be longwinded sometimes (to say the least, lol).)

I would appreciate any input and advice!!! Thank you!!!
Congratulations. Terrific job on turning things around.

As to your question, as others have already pointed out, you leave out one important factor: what do you want or need in a credit card? Maybe you don't need another card.

If you want a travel card, my advice would be to wait a month or two until it's indisputable that you have more than a year of history across the board, and then take a shot at the Chase Sapphire Preferred or Chase Sapphire Reserve, whichever is better suited to your needs. Another good travel card IMHO is the Citi Premier which you mentioned.

If you want a low-interest, low-fee, card your best bet would be a platinum card from a credit union.

If you want another cash back card, the Citi Double Cash, for which you're prequalified, is solid.
Thank you, SouthJamaica!

You were one of the names that I would see often when I checked the forums, too! Your advice helped tremendously, as well. I am just horrible at remembering names, usually.

I want to get another card, for a couple of reasons: 1) to increase my utilization as I know that I will be helping my sister and her kids cover her bills for a bit until she gets sorted out, and although I usually pay to zero, or try to keep a max of 6% utilization, I wanted an extra buffer just in case I needed to leave more on my card; and 2) I wanted to get over that threshhold of seeing the message that I have too few cards,

That is not a meaningful message; you have enough cards to get an 850 score, so forget that as a reason.

Okay, I will ignore that message from now on.

and to be able to continue to build a thicker profile, too.

I had read about Chase cards, but if I waited a month or two to apply for the CSP or CSR, would I need to forgo any apps right now?

Yes, Chase wants you to be committed to their card.

Okay, good to know. If I choose to go with Chase, I will wait a month or two as you suggested.

As I read that they are sensitive to inquiries or newly opened accounts.

They have a strict rule that you can't get a card if you have 5 new cards within the past 24 months.
If you want a Chase card, apply for that before you apply for any other cards.

Okay, I will remember, to go with Chase first if I decide to app with them.

Although, I suppose if I apped for another Amex card, it would be a SP and it wouldn't show up for at least a couple of month,

Whether it's a a SP or not has nothing to do with whether it will show up as a new account. It will show up. And it could show up as soon as within a couple of days.

Okay, noted. I was going onmy experience with my Amex ED card, as it didn't show up until after 2 statements, although that may have just been for the first card.

but then again, I heard that Chase will close accounts if you open up another too soon after theirs?

Sometimes they do but I don't think you need to worry about that unless you go hog wild.

Good to know. Guess I got a little concerned based on posts talking about how Chase had closed their accounts, and I think some of then had only opened one other account around the same time.

I've read that Chase's cards are good, but are they really worth it?

I don't know because I don't have either the Sapphire or the Reserve and I'm not great at maximizing rewards points. But I think there's pretty much a consensus among the knowledgeable folks that the CSP & CSR are great travel cards, especially if you use Chase's travel partners. But the afficionados will tell you that if you are more likely to use Amex travel partners, you might be better off with an Amex MR card than a Chase UR card.

I hadn't even considered CSP or CSR initially, to tell you the truth. I was thinking about CF and CFU, as I thought thatI wouldn't have been able to even qualify for the CSR or CSP anytime soon. But, you did say that in another month or two, so a month or two will probably make a big difference in how good my profile looks.

Also, what do you think about the CF and CFU? Are they comparable to CSP or CSR, or easier to qualify for? And do you think that even without a pre-approval I would have a chance on any of them, in a month or two?

As for the credit unions, I hadn't really looked too much into them because they always seemed to have so many restrictions to membership.

Some do and some don't. Some that are open to all: PenFed, DCU, Langley, Andigo, Unify, UFCU, Summit, Northwest, Lake Michigan, Evansville Teachers, Hanscom, Alliant, Affinity.

Thank you! I will check these ones out to see what they offer and what are the reviews.

I was really considering the Citi Double Cash, as my friend has it and loves it, although she says they start out low. Do they always do that?

Not always, but they did start me low, and they are reputed to do that a lot.

Yeah, that seems to be a definite possibility. But, Picaboo-icu said that she actually had a fairly high SL of $7000. So, I guess like everything else credit related, everyone is different and YMMV.

And if the Citi Premier was listed below the Double Cash, is that still a solid pre-approval?

I don't know why it would matter where it was listed. Either it's a preapproval or it's not.

Okay, noted.

My biggest thing right now, I guess, is trying to get a high SL, to ensure that my utilization stays low as I mentioned above. I am somewhat open to the type of card that I get, once it is a good company.
I used to think that way, but eventually stopped thinking that way because it got me into cards that I really had little use for over the long run.

I really need to sit down and figure out what I will actually need/use in the long run.

If you have any relatives who have been in the military you could get into NFCU, which is good at giving healthy starting limits. It's also a great credit union in general.

No, unfortunately I don't have any relatives in the military, but my best friend does, and this would probably work well for her.

Thank you for taking the time to answer all of those questions for me, SouthJamaica. I will use this information as I make my decision as to what to do.

One last question though, would apping for more than one card at the same time be ill advised for my credit, considering my thin profile?

Thanks again!

Re: Credit Application Advice, Please!

Anonymous — Sun, 09 Dec 2018 09:08:31 GMT

@Anonymous wrote:
@Anonymous wrote:
Wow. You're an inspiration to us all; a testament to how a disciplined approach to credit will yield excellent results.

BTW, do you currently have an open installment loan?
Thank you, MaizeandBlue!

Patience and discipline are indeed, key. And I really don't have the patience to wait another 7 years for everything to drop off agaim, though! Lol!

No, I don't have any loans at all. I was thinking about doing a Self Lender loan though, as I had found out about that and suggested it to a friend after she got her Capital One Secured card (from advice that I got on myfico forums, lol). It worked out pretty well for her.

An installment loan will enhance the "Credit Mix" portion of your FICO score; you can easily gain 35-40 points on each of your three credit scores by adding a loan and immediately paying it down so that the outstanding balance is less than 8.9%. Several credit unions like PenFed and Navy Federal offer Credit Builder loans that are ideal for this purpose. You may even be able to get one from a local credit union.

BTW, the bright green font you used to reply to South Jamaica is unreadable.

Re: Credit Application Advice, Please!

SouthJamaica — Sun, 09 Dec 2018 12:24:50 GMT

Probably best to go slow and steady in applying for new cards.

I have never had the Chase Freedom and Freedom Unlimited, but yes they are supposed to be good cards, and yes they are probably less difficult for you to get.

Re: Credit Application Advice, Please!

Anonymous — Mon, 10 Dec 2018 01:53:35 GMT

@Anonymous wrote:
@Anonymous wrote:
@Anonymous wrote:
Wow. You're an inspiration to us all; a testament to how a disciplined approach to credit will yield excellent results.

BTW, do you currently have an open installment loan?
Thank you, MaizeandBlue!

Patience and discipline are indeed, key. And I really don't have the patience to wait another 7 years for everything to drop off agaim, though! Lol!

No, I don't have any loans at all. I was thinking about doing a Self Lender loan though, as I had found out about that and suggested it to a friend after she got her Capital One Secured card (from advice that I got on myfico forums, lol). It worked out pretty well for her.
An installment loan will enhance the "Credit Mix" portion of your FICO score; you can easily gain 35-40 points on each of your three credit scores by adding a loan and immediately paying it down so that the outstanding balance is less than 8.9%. Several credit unions like PenFed and Navy Federal offer Credit Builder loans that are ideal for this purpose. You may even be able to get one from a local credit union.

BTW, the bright green font you used to reply to South Jamaica is unreadable.

Thank you, MaizeandBlue!
I will be looking into getting an installment loan in the near future, as I do realize that I need to have one for my credit mix. I will be sure to check out the ones that you have recommended.

Also, thanks for the heads up about the bright green font! I never realized that it was unreadable.

Thanks again, for your advice!

Re: Credit Application Advice, Please!

Anonymous — Mon, 10 Dec 2018 01:55:45 GMT

@SouthJamaica wrote:
Probably best to go slow and steady in applying for new cards.

I have never had the Chase Freedom and Freedom Unlimited, but yes they are supposed to be good cards, and yes they are probably less difficult for you to get.

Okay. Thanks again!