topic Should I or Shouldn't I in Credit Cards

Should I or Shouldn't I

knoxman — Thu, 03 May 2012 18:15:49 GMT

I recently applied to both Chase and Discover. I have been approved by discover for a small $1000 limit. Chased asked for Utility Bill and SS card which I faxed over Saturday. Called today and was told the SS Card was too dark and needed to fax again. I'm not sure I want to at this point. I have added everything in my signature within the past 8 months. My scores have taken a hit I'm sure with all the INQ and new accounts and I'm not sure adding another account would be wise even though I have already used 3 HP's with chase(they have pulled all three).

From what I understand Chase is not real generous when it comes to CLI's and I would hate to get stuck with another toy limit even if it is on a prime card. Would I be better off gardening for a year and then apply again? I do plan on making monthly deposits to get my CAPONE Secured up to at least 2K over the next year. And from what I have read many who have been given the $1K limit with discover have received two CLI's within the first six months totaling $750 for a CL of $1750. I guess what I'm asking is how much more likely am I to get a substantially larger initial CL if I wait providing I have two cards with CL close to $2k when I apply. Also I would think my scores should somewhat as I have several inquiry's within the last year.

Re: Should I or Shouldn't I

Anonymous — Thu, 03 May 2012 18:54:50 GMT

Do you have any baddies with that discover app? I'm contemplating apping for discover more with same general score (rebuilding - TU 660ish). I think you have the right idea with chase from what I gather on the forums.

Re: Should I or Shouldn't I

Anonymous — Thu, 03 May 2012 20:01:00 GMT

can you give us a rundown on your discover app like how many baddies if any did you have and how many inquiries?

Re: Should I or Shouldn't I

knoxman — Thu, 03 May 2012 20:49:14 GMT

My EQ which was initally pulled for the online app is perfect, zero baddies. EX has a paid tax state tax lien from 06, nothing else. Transunion has the tax lien plus two unpaid collections that are about 2 years old. I didn't get the primo rate. I got a 3.99% for 6 mo and 22.9% thereafter. Not great I know but it's a foot in the door and considering I have an unpaid CO with them from about 10 years ago I'm just thrilled they let me back in the family. Also, it wasn't an instant approval, I got the 5 - 7 day message and called them up. Transfered, hold, questions, hold , more questions, hold then approval.

Re: Should I or Shouldn't I

Anonymous — Thu, 03 May 2012 20:56:23 GMT

So they pulled eq first then tu? I want to app for it but might wait a few more months to get my credit history a little stronger with my cap1 (opened 11/11). Heard discover pulls TU for MA residents so that'd be great for me since its my best score

Re: Should I or Shouldn't I

knoxman — Thu, 03 May 2012 21:12:55 GMT

They pulled the TU on the phone call the next day. I was suprised they approved me after I saw the pull.