topic Re: In about a year in Credit Cards

In about a year

Anonymous — Thu, 13 Jul 2017 07:12:15 GMT

In about a year, I'm thinking about possibly applying for Amex card and Discover. Unless there are other cards out there that have great bonus. I like the 0 interest for several months card, BT, and cash rewards

Re: In about a year

Anonymous — Thu, 13 Jul 2017 12:31:56 GMT

There are lots of cards out there that provide nice bonuses.

Why in "about a year?"

Re: In about a year

Cashbackjunky — Thu, 13 Jul 2017 14:21:37 GMT

If you're looking for BT, I'd go with the Chase Slate... 0% balance transfer fee, 0% APR for 15 months and it's Chase... Who doesn't want credit cards from them?!?

Whatever you decide, good luck!

Cheers!

Re: In about a year

Anonymous — Thu, 13 Jul 2017 16:55:03 GMT

@BrutalBody.... I figured after a year the 3 HP that I just took will have a less impact for when I apply for new cards. So far, on my report, I have 4 Inquiries. .. one will fall totally off next may and then the 3 I just got will totally fall off June 2019. But I read after a year lenders don't look at them that much is why I figured wait a year to apply for more like Amex and maybe Discover.

Re: In about a year

Anonymous — Thu, 13 Jul 2017 16:56:22 GMT

@Cashback.... I do have Chase freedom unlimited. .. but I may possibly try Slate.

Re: In about a year

happypill — Thu, 13 Jul 2017 18:48:55 GMT

If inquiries are the primary reason why you're delaying, just forget about it. Even if you currently have 3 HP all with the same bureau and 2 new inquiries hit the same one, the impact on your credit score will probably be...nothing at all. You might see a drop in score of 5 points or so due to the new accounts and change in AAoA, but going from 3 to 5 inquiries will have not noticeable impact.

Now, if those 3 HP are spread across the 3 bureaus, the impact will be even more miniscule. People sweat inquiries way too much; waiting a year to apply because of inquiries is nuts. Unless you're planning to buy a house within the next 6 months, inquiries should not factor into your decision making here.

Re: In about a year

Anonymous — Thu, 13 Jul 2017 18:50:02 GMT

I wouldn't sweat the inquiries. It's not like you have 10+ like many do. I wouldn't think 4 would hold you back under most circumstances.

Re: In about a year

Anonymous — Thu, 13 Jul 2017 20:06:03 GMT

@happypill wrote:
If inquiries are the primary reason why you're delaying, just forget about it. Even if you currently have 3 HP all with the same bureau and 2 new inquiries hit the same one, the impact on your credit score will probably be...nothing at all. You might see a drop in score of 5 points or so due to the new accounts and change in AAoA, but going from 3 to 5 inquiries will have not noticeable impact.

Now, if those 3 HP are spread across the 3 bureaus, the impact will be even more miniscule. People sweat inquiries way too much; waiting a year to apply because of inquiries is nuts. Unless you're planning to buy a house within the next 6 months, inquiries should not factor into your decision making here.

Well I did have thoughts on trading in my car at the end of this year or possibly right at the beginning of next year. I want my CS higher than it was when I bought the car or at least not less. When I got my car 3 years ago I had a 715, right now I'm around average mid 600s I find that I range from 650 to 697... so not sure what my CS looks like atm. I was wanting to possibly get a truck. I love my car but it seems like I need a truck to bring big stuff home all the time.... I am constantly having to borrow dad's and his is not in great shape.