topic Re: Advice needed on next card in Credit Card Applications

Advice needed on next card

agSwA2Jp7twxqBC2NsztvA7o — Sat, 15 Apr 2023 03:00:51 GMT

Hi there,

I'd like some input on what order to get some cards, and at what time (recommended fico/#hard pulls)

The next cards I'd like to get are

Amazon Prime Rewards Visa Card

Citi Custom Cash

Elan Max Cash Preferred Card (or USB Cash+, preferrable the former)

Fidelity Reward Visa Signature Card

Currently sitting at

TransUnion 707 (1 HP) 1/6, 1/12, 1/24

Equifax 685 (1HP) 1/6, 1/12, 1/24

Experian 691 (3 HP) 1/6, 2/12, 3/24

~$170,000 yearly compensation

Any thoughts?

I believe I can apply for 2 Elan cards on the same day (the last 2 cards I listed) and they will use 1 HP likely on TU. Like I mentioned above, I don't know what credit score I should reach first, though, or if I need 0/6 or anything.

Another question. Say I apply for a credit card but only unfreeze 1 report, but I am denied because they didn't pull that report. What is the downside? There is no hard pull. Will the lender take account for this if I try the same thing a month later?

Thanks, folks...

Re: Advice needed on next card

805orbust — Sat, 15 Apr 2023 09:42:35 GMT

Hey @agSwA2Jp7twxqBC2NsztvA7o you may get a quality response if you give some other useful data regarding your profile: length of history, #of accounts, utilization percentage , current accounts, etc. It's hard to go by score alone and with those scores, there's definitely something holding them there, perhaps some negative or derogatory information or high utilization.

I will say that your current inquiry level doesn't seem to be something that would hold you back at all.

Re: Advice needed on next card

FireMedic1 — Sat, 15 Apr 2023 19:39:20 GMT

Whats your present util %? Any baddies from the past holding your score down? We cant talk about freezing one so another is pulled and so on.

Re: Advice needed on next card

agSwA2Jp7twxqBC2NsztvA7o — Sun, 16 Apr 2023 06:12:19 GMT

Thanks for the responses, here is some more infomation...

No history of late payments

Short credit history, mostly student loans, the 2 recent hard pulls are for my first 2 credit cards (Sept 22 EX, Feb 23 EX/EQ/TU) and there is a HP for my apartment (Dec 21 EX).

Discover/TU showing length of credit history as 3 years, 2 months

Discover/TU is showing utilization as 0% (odd...)

Discover/TU showing 6 total accounts (5 installment loans, 1 revolving credit account)

myFico/EQ showing 26% revolving utilization

myFico/EQ 2y4m average age of accounts, 3y3m age of oldest account

myFico/EQ 6 installment loans, 2 revolving accounts

EX total debt 16k

EX 26% utilization

EX 2y average age, 3y3m oldest age

EX report

5.5k, 2k, 6k federal loans

.6k private loan I am paying off monthly (minimum $40, I pay $150)

I have a card with 8.5k CL and another with 1k CL

From what I can tell utilization and account age are what is hurting me the most

Re: Advice needed on next card

FireMedic1 — Sun, 16 Apr 2023 08:53:54 GMT

Basically you have a young thin file. With 2 cards. You'll need a third to gain some traction. The ones listed like to see a more seasoned file and more age. Whos the $1000 CL creditor name?

Re: Advice needed on next card

fury1995 — Sun, 16 Apr 2023 14:54:23 GMT

@agSwA2Jp7twxqBC2NsztvA7o You have Discover for $8,500 open for 7 months, correct?

Was that your starting line?

Like @FireMedic1 asked, who is the $1,000 line you opened two months ago with?

Is the 26% UTI combined between the two open revolvers?

With your short revolving history, you may have a better shot opening a third revolver with a current lender before apping with one of the issuers you have on your wish list. Who is your personal loan (reporting to EX) with? Credit Union?

Re: Advice needed on next card

agSwA2Jp7twxqBC2NsztvA7o — Sun, 16 Apr 2023 23:42:31 GMT

Hmmm ok, yep I can see young/thin file being a problem

@FireMedic1The $1000 creditor is none other than Capital One! The SavorOne card. Feb/23. I had been trying to show high usage to this card in the probably vain attempt of a nice CLI

@fury1995My Discover IT SL was $8k. Sept/22. The private loan was from my university, payments to Heartland ECSI

Re: Advice needed on next card

805orbust — Mon, 17 Apr 2023 00:14:14 GMT

If it were me I'd pay the $1000 CapOne off and use it for a fillup every month. Then I'd bring the Disco under 9%. Of the 4 cards on your radar I'd actually think you could get an approval on the Chase Amazon card. However there's a good chance it would be a borderline approval like $500 or $1000. The others I'd wait a year.

Re: your earnings... dude, your killing it. Eat rice and beans for a couple of months and pay off those installment loans... well, all but one. It'll be like magic to your scores. If you e got no negatives you'll be over 750-760 on all 3, no doubt whatsoever.

Re: Advice needed on next card

agSwA2Jp7twxqBC2NsztvA7o — Mon, 17 Apr 2023 06:03:21 GMT

@805orbust "use it for a fillup every month" <- can you elaborate on what this means?

A user messaged me recommending the First Tech FCU card. They are apparently generous with credit limits for high income and it would help build my credit. Anyone else have thoughts on this? I have no qualms on waiting to apply for my preferred cards. Seems their Choice Rewards Mastercard has no AF...

Re: Advice needed on next card

DONZI — Mon, 17 Apr 2023 06:38:42 GMT

My second card was a amex Blue Cash Everyday with a 10k starting limit, thin credit file.

The BCE is a nice no annual fee card IMO and the amex online pre-approval has a good reputation. Lots of data points here about amex to rummage through also.

If you haven't considered any amex cards, might be worth your while to scope it out.

Re: Advice needed on next card

805orbust — Tue, 18 Apr 2023 02:15:40 GMT

@agSwA2Jp7twxqBC2NsztvA7o sorry about that, I meant fill up your gas tank or something just so it doesn't go unused and set up autopay so you don't have to think about it 😉