topic Re: should I app or not? in Credit Card Applications

should I app or not?

jason0618 — Wed, 04 Jun 2014 23:18:42 GMT

I'm thinking I might want to apply for a better card, but I'm not sure if I should yet. Hopefully I'll get some advice...

Currently, my scores are

600EQ Fico

639 EX Fico

616 TU Fico

I have a Jared credit card, $400 limit and PIF, Credit One Bank Visa $300 limit, reporting $2, and an NFCU secured nrewards card with $1000 limit, reporting $335 currently, but now PIF.

I also have 22 inquiries. I know, it's bad. That's part of what makes me think that I might just be throwing away inquiries. I recently bought a new car a couple of months ago, and that caused a lot of the inquiries. I also switched cell phone providers, and AT&T decided to hard pull me three times over the course of three days.

Should I app for anything, or continue to hold off a while?

Re: should I app or not?

mongstradamus — Wed, 04 Jun 2014 23:21:51 GMT

If I were in your position I would wait six months or so. Do you really need new credit card right now ??

Re: should I app or not?

Bman70 — Wed, 04 Jun 2014 23:23:52 GMT

@jason0618 wrote:
I'm thinking I might want to apply for a better card, but I'm not sure if I should yet. Hopefully I'll get some advice...

Currently, my scores are
600EQ Fico
639 EX Fico
616 TU Fico

I have a Jared credit card, $400 limit and PIF, Credit One Bank Visa $300 limit, reporting $2, and an NFCU secured nrewards card with $1000 limit, reporting $335 currently, but now PIF.

I also have 22 inquiries. I know, it's bad. That's part of what makes me think that I might just be throwing away inquiries. I recently bought a new car a couple of months ago, and that caused a lot of the inquiries. I also switched cell phone providers, and AT&T decided to hard pull me three times over the course of three days.

Should I app for anything, or continue to hold off a while?

Any baddies? I would heartily encourage you to grow those scores first - which, assuming no baddies, shouldn't be too hard or long.

Re: should I app or not?

Creditaddict — Wed, 04 Jun 2014 23:24:03 GMT

How long have you had the secured Navy Card?

Who financed the car? rate?

Re: should I app or not?

TRC_WA — Thu, 05 Jun 2014 00:37:32 GMT

I'd wait.

22 inquiries? Ouch.

Re: should I app or not?

jason0618 — Thu, 05 Jun 2014 00:41:52 GMT

I've had the NFCU card for 26 months.

My car is financed with Ally at 10.9%

Re: should I app or not?

Creditaddict — Thu, 05 Jun 2014 00:43:00 GMT

@jason0618 wrote:
I've had the NFCU card for 26 months.
My car is financed with Ally at 10.9%

I would apply for a Navy Federal Go Rewards Unsecured!

Did you apply for auto financing with Navy?

Re: should I app or not?

jason0618 — Thu, 05 Jun 2014 11:22:42 GMT

No I didn't apply with navy. I figured I will wait until they graduate my secured card before I app with thrm anymore.
I ended up breaking down and apping. Did the barclaycard preselector. It preapprovwd me for aspiring prime rewards card, I accepted and got approved for it.

Re: should I app or not?

jason0618 — Thu, 05 Jun 2014 11:23:15 GMT

Now I'm definitely gardening til 2015

Re: should I app or not?

Stanic413 — Thu, 05 Jun 2014 13:22:15 GMT

Congrats! All those auto pulls don't hurt as badly as they sound. I bought a car and 6 months later was intially declined for a card because of INQs. Called in and they said since they were all auto pulls around the same time, it was fine. Enjoy your new card and time in the garden!

--Edited for clarity.

Re: should I app or not?

improvingmycredit — Thu, 05 Jun 2014 13:41:08 GMT

@Creditaddict wrote:
@jason0618 wrote:
I've had the NFCU card for 26 months.
My car is financed with Ally at 10.9%
I would apply for a Navy Federal Go Rewards Unsecured!
Did you apply for auto financing with Navy?

I'm with Creditaddict's thinking on this one... 10,9% isn't so bad really with the current FICO scores but when these bump up a little bit more, I'd app for the Navy Auto Loan refinance. I think you'd get a much better rate. Also... they are offering $250 to refinance with them which is a great little bonus. Having the Navy CC for 26 months, I would think that if your history has been good with NFCU, you'd likely be approved for a unsecured card soon also. As a poster said, give it about 6 months, let the inqs age a little,then go for the Navy products.

Re: should I app or not?

Kennie02 — Thu, 05 Jun 2014 14:47:23 GMT

@jason0618 wrote:
I've had the NFCU card for 26 months.
My car is financed with Ally at 10.9%

I'm surprised they haven't graduated your card to unsecured after 2 years. Maybe while you're at it you can ask them to do that too