topic Re: Is score enough? in Credit Cards

Is score enough?

EaglesFan2006 — Sat, 08 Jun 2013 21:27:50 GMT

I just pulled my EQ here and it was 668. My strengths were zero lates of any kind, weaknesses involved balances on cards (uttil is around 55%). I'm still planning to pay down util, but I'm just curious where my score stands now. At some point I'd like to add a travel card such as the Chase Marriott or Chase Disney since we are planning a trip later this year. I know my situation will only get better by paying a few more months in terms of interest rates and limits, which is why i will still wait, but is my score enough to even qualify for a card like that now? I do have the Chase Freedom, one year old this week.

Re: Is score enough?

ezdoesit — Sat, 08 Jun 2013 21:34:02 GMT

@EaglesFan2006 wrote:
I just pulled my EQ here and it was 668. My strengths were zero lates of any kind, weaknesses involved balances on cards (uttil is around 55%). I'm still planning to pay down util, but I'm just curious where my score stands now. At some point I'd like to add a travel card such as the Chase Marriott or Chase Disney since we are planning a trip later this year. I know my situation will only get better by paying a few more months in terms of interest rates and limits, which is why i will still wait, but is my score enough to even qualify for a card like that now? I do have the Chase Freedom, one year old this week.

If your planning a trip later this year why don't you apply for a card when you bring you util down. That is the easiest way to increase score and why not wait and give yourself the best possible chance at approval. With your scores now you might be borderline why take the chance for HP and not get an approval.

Re: Is score enough?

EaglesFan2006 — Sat, 08 Jun 2013 21:42:32 GMT

Thanks. I plan on waiting a bit, I was just trying to gauge where I stand now

Re: Is score enough?

JonStur — Sat, 08 Jun 2013 21:57:39 GMT

You will probably be in the best shape if your scores are north of 700....

Re: Is score enough?

09Lexie — Sat, 08 Jun 2013 23:12:13 GMT

Util is the issue- get it down and your CS will go up.

Re: Is score enough?

LS2982 — Sun, 09 Jun 2013 02:22:16 GMT

@EaglesFan2006 wrote:
I just pulled my EQ here and it was 668. My strengths were zero lates of any kind, weaknesses involved balances on cards (uttil is around 55%). I'm still planning to pay down util, but I'm just curious where my score stands now. At some point I'd like to add a travel card such as the Chase Marriott or Chase Disney since we are planning a trip later this year. I know my situation will only get better by paying a few more months in terms of interest rates and limits, which is why i will still wait, but is my score enough to even qualify for a card like that now? I do have the Chase Freedom, one year old this week.

IMO I would say no. Your better off getting the util down below 10% first, youll be wasting INQs otherwise.

Re: Is score enough?

myjourney — Sun, 09 Jun 2013 02:25:31 GMT

@LS2982 wrote:
@EaglesFan2006 wrote:
I just pulled my EQ here and it was 668. My strengths were zero lates of any kind, weaknesses involved balances on cards (uttil is around 55%). I'm still planning to pay down util, but I'm just curious where my score stands now. At some point I'd like to add a travel card such as the Chase Marriott or Chase Disney since we are planning a trip later this year. I know my situation will only get better by paying a few more months in terms of interest rates and limits, which is why i will still wait, but is my score enough to even qualify for a card like that now? I do have the Chase Freedom, one year old this week.
IMO I would say no. Your better off getting the util down below 10% first, youll be wasting INQs otherwise.

+1 Agreed and scores / UTL aren't the only part to an approval other factors also weigh in the decision as well INQ,AAoA,Lenght of payment history

Re: Is score enough?

EaglesFan2006 — Sun, 09 Jun 2013 05:12:24 GMT

Thanks all. I understand more things go into decisions, but the only question mark I have is util. Ill definitely wait and make that better, but I was really just curios about my overall value. Not as good as I thought, but that's okay for now!

Re: Is score enough?

myjourney — Sun, 09 Jun 2013 05:28:34 GMT

@EaglesFan2006 wrote:
Thanks all. I understand more things go into decisions, but the only question mark I have is util. Ill definitely wait and make that better, but I was really just curios about my overall value. Not as good as I thought, but that's okay for now!

Just wanted to say you took the general advice of many listened, absorbed it and came to a good conclusion...IMHO BRAVO and well thought out

keep up the good work