topic Re: Go or no go in Credit Card Applications

Go or no go

ZSR — Thu, 15 Aug 2019 02:24:29 GMT

My FICO scores all are in the 650 range. Is it worth it to apply for the IHG premier cc so I can possibly get the 125k bonus points, or should I wait to improve my score more? I was also considering the Apple Card since it recently came out. Any advice on pulling the trigger or waiting?

Re: Go or no go

Jnbmom — Thu, 15 Aug 2019 02:30:57 GMT

@ZSR wrote:
My FICO scores all are in the 650 range. Is it worth it to apply for the IHG premier cc so I can possibly get the 125k bonus points, or should I wait to improve my score more? I was also considering the Apple Card since it recently came out. Any advice on pulling the trigger or waiting?

We need more info. How does your credit file look, any baddies or bk? AAoA and what cards do you currently have?

Re: Go or no go

ZSR — Thu, 15 Aug 2019 02:44:47 GMT

No BK, 3.5 aoa. Oldest is 8yr. I have a Barclay cc with $3,300. Cap one Quicksilver $2.5k. NFCU rewards cc $5k. Military Star cc $4200. Preferred CU cc $500. No mortgage. 2 vehicles financed.

Re: Go or no go

AllZero — Thu, 15 Aug 2019 03:17:01 GMT

I would recommend waiting and work on what is suppressing your score. It'll give you a better chance at higher starting limit and favorable APR if it matters.

Good thing about Apple, it'll be a soft pull and you can decline the offer if the terms are not favorable.

Re: Go or no go

Jnbmom — Thu, 15 Aug 2019 03:39:05 GMT

@ZSR wrote:
No BK, 3.5 aoa. Oldest is 8yr. I have a Barclay cc with $3,300. Cap one Quicksilver $2.5k. NFCU rewards cc $5k. Military Star cc $4200. Preferred CU cc $500. No mortgage. 2 vehicles financed.

SO there are no negatives?? Just curious 650 seems a little lower for the above profile. Also I should have asked are these FICO scores?

Re: Go or no go

Meanmchine — Thu, 15 Aug 2019 04:07:53 GMT

IHG card is Chase 5/24 rule. If you are over 4 new accounts last 24 months, it will be an auto denial

Re: Go or no go

ZSR — Thu, 15 Aug 2019 11:14:17 GMT

I have had some life events which caused me to have to use about 70% of the open credit line amongst the cards. Still working on paying that down. Figured if I were to get approved for another card it would help in reducing that 70%.

Re: Go or no go

Anonymous — Thu, 15 Aug 2019 11:28:51 GMT

Pay things down under 8.9% and your score should easily be over 700 and approval odds will rise.

The key to new credit is picking it up when you don't need it. If you want to roll the dice then hit up your lenders for CLI's on the existing cards to adjust the UTIL %'s that is keeping your score down.

Also, you can get a free FICO monlhly from www.experian.com and to get all 3 you can sign up for a trial for $1 and cancel it after you have your scores.

Re: Go or no go

Anonymous — Thu, 15 Aug 2019 13:13:59 GMT

Definitely look at lowering your utilization, that will help in your chances. As others have mentioned, monitor your credit to see what things you can do to help improve your profile.

Re: Go or no go

CreditInspired — Thu, 15 Aug 2019 15:29:11 GMT

@ZSR wrote:
My FICO scores all are in the 650 range. Is it worth it to apply for the IHG premier cc so I can possibly get the 125k bonus points, or should I wait to improve my score more? I was also considering the Apple Card since it recently came out. Any advice on pulling the trigger or waiting?

Hi there and welcome

Of course we need more information before we can say "yay nor nay" on the IHG premier CC.

However, since it is a SP on the Apple card to find out whether you would be approved or not approved, and to know your limit and APR before accepting, to me this would be the best way to go.

And this will also give you a teeny idea of where you stand creditwise.

GL2U