topic Re: Q: App Timing for Best Results in Credit Cards

Q: App Timing for Best Results

Credit-hoarder — Sun, 27 Oct 2013 20:01:51 GMT

Just found out today I was approved for the OCCU Visa Card with a CL of $1500. And a little over a week ago I was approved for a USAA Visa with a 5 digit CL NOT unhappy about the OCCU CL, but curious about something. My question is: Should I have allowed USAA to report first before app-ing for the OCCU card to possibly have gotten a higher CL from OCCU--OR would OCCU have been spooked by the USAA CL if I had waited for it to report THEN apply--OR would it have made NO difference? I app-ed believing if I would have waited for USAA to report-it would have meant a denial by OCCU for obtaining too much available credit in a relatively short period of time. Just trying to educate myself about credit for the future.

Re: Q: App Timing for Best Results

coldnmn — Sun, 27 Oct 2013 20:08:33 GMT

A lot depends on income AAA any baddies, utilization but I do have to say this. Congratulations!

Re: Q: App Timing for Best Results

09Lexie — Sun, 27 Oct 2013 20:11:58 GMT

That answer depends on your credit profile. If you 'needed' the higher CL for the OCCU approval, they might have wanted to see your pyt history -usually 6 mos. if your available credit to income is already high, then another high CL probably would not have been approved either.

Current existing CL's, history with those CL's, outstanding debt, income and each lenders internal scoring model would have determined your vs.

Re: Q: App Timing for Best Results

seat3a — Sun, 27 Oct 2013 20:12:38 GMT

@coldnmn wrote:
A lot depends on income AAA any baddies, utilization but I do have to say this. Congratulations!

No baddies, AAoA around 4 years, utilization around 9%. Never, ever late.

Thanks!

Re: Q: App Timing for Best Results

coldnmn — Sun, 27 Oct 2013 20:19:01 GMT

I would think with the huge starting limits they have given. If they are treated right CLI should be very easy to get.

Re: Q: App Timing for Best Results

Credit-hoarder — Sun, 27 Oct 2013 20:24:53 GMT

Thanks peeps. My total revolving credit without USAA was $7500 (which is what was seen at the time of app) with current 6% UTIL and income of $51K with relatively low overall debt.. AAOA approx 5 yrs. 4 PAID derogs 2 to 6 yrs. old. Relatively thick CR file. I was actually all set for a denial and was suprised when I was accepted.

Re: Q: App Timing for Best Results

seat3a — Sun, 27 Oct 2013 20:27:39 GMT

@seat3a wrote:
@coldnmn wrote:
A lot depends on income AAA any baddies, utilization but I do have to say this. Congratulations!
No baddies, AAoA around 4 years, utilization around 9%. Never, ever late.

Thanks!

Sorry. but I posted the above reply on the wrong page.

Re: Q: App Timing for Best Results

Credit-hoarder — Sun, 27 Oct 2013 20:29:46 GMT

@coldmnn: Easy CLI's with responsible usage...That's what I'm hopin' and why I'm not mopin'-LOL. Unfortunately no one on the forum has had the cards (Duck or Beaver) long enough to find out.

Re: Q: App Timing for Best Results

09Lexie — Sun, 27 Oct 2013 20:31:29 GMT

Based on the other thread Duck Profiles, seems a clean file is a major player in CL's /approvals. I suspect the 4 paid derogs was your Achilles heel.

Re: Q: App Timing for Best Results

Credit-hoarder — Sun, 27 Oct 2013 20:41:13 GMT

+1 More than likely it was that (paid derogs) No. 1--and maybe the age of the other recent TL's No. 2. But better showing paid than unpaid (derogs). JMO

Re: Q: App Timing for Best Results

coldnmn — Sun, 27 Oct 2013 20:40:51 GMT

I REALLY thought about applying for the Duck card. I can't think of one reason to apply for it. Thankfully I somehow have self control and more then enough credit not to.

Re: Q: App Timing for Best Results

09Lexie — Sun, 27 Oct 2013 20:42:56 GMT

@Credit-hoarder

Derogs, paid or unpaid are counted the same but on manual review it does look better.

Re: Q: App Timing for Best Results

09Lexie — Sun, 27 Oct 2013 20:45:24 GMT

@coldnmn

I agree. other than a high CL I don't see the appeal. PLUS they would literally rip up my Bruin Alumni Card ESP after last nights thumping.

To each is own.

Re: Q: App Timing for Best Results

Credit-hoarder — Sun, 27 Oct 2013 20:46:39 GMT

Nothing wrong with self control-keeps you out of trouble in the long run. I didn't really need the credit either. I just got caught up in the thread and was one of a few people who offered themselves up as a "lab rat" so-to-speak to see how fair credit would stack up on application. But was also hoping deep-down to hit it big with a high initial CL.

Re: Q: App Timing for Best Results

coldnmn — Sun, 27 Oct 2013 20:51:32 GMT

I know the feeling that's how I applied for the ring. Glad I did after I had unexpected pickup repairs had to carry a balance 8% not bad.

Re: Q: App Timing for Best Results

Credit-hoarder — Sun, 27 Oct 2013 21:52:28 GMT

@coldnmn: Is the CL in your signature the one Barclays's gave you when you were approved or have you had a CLI since you've had it?

Re: Q: App Timing for Best Results

coldnmn — Sun, 27 Oct 2013 22:04:58 GMT

I've had two Cl I have gotten an auto CLI every 6 months since I've had it. It will be 18 months next month, they softed me 10/10 so hoping for an increase to $5000. I won't do a hard pull to get it. It took 2 hard pulls to get it. I have 5 total right now with all but 2 to fall off first half 2014.