topic Re: Chances of passing in Credit Card Applications

Chances of passing

Anonymous — Mon, 04 Feb 2019 07:56:37 GMT

hey guys I'm 18 I wanted two know what's the chances of me. Getting a Amazon store card

I don't have to much credit as of now

Credit score is transunion 538

Equifax score is 535

I have a express store card for limit of 500$ utilization is at 40%

I've opened a Nordstrom store card limit of 500$ utilization about 20%

Should i wait or

Re: Chances of passing

scarfa21 — Mon, 04 Feb 2019 11:35:27 GMT

With those scores id wait a bit, not sure if they would approve you in the 500's or not.

Re: Chances of passing

CreditInspired — Mon, 04 Feb 2019 12:43:33 GMT

I suggest waiting since you already have two cards exceeding 8.9% UT.

Since you’re just 18, this is a great time to start creating a good profile. So get both your CCs under 8.9% and see what your new scores look like. Also, your scores appear to be Vantage scores. You want to know your FICO scores.

Re: Chances of passing

Priory_Man — Mon, 04 Feb 2019 13:22:24 GMT

I would wait two to three months.
If you can, pay both of your cards down to below $40, let them post to the CB's and see if your score improves, which they should because you would be below the magic 8.9%UTIL.
Get into the habit off paying your cards off in full each month, and you will have a head start on the road to great credit so many of us wish we had.

Re: Chances of passing

xaximus — Mon, 04 Feb 2019 13:55:26 GMT

Congrats on getting an early start on building your credit. As others have stated, bring your balance down under 8%. Make sure you have auto-pay setup for atleast your minimum payment + $2 extra. Do that for about 3-6 months to help build some history so that lenders can see your responsible.