topic Re: Approval Chances in Credit Cards

Approval Chances

from500to700 — Tue, 18 Mar 2014 01:00:38 GMT

Hello all ,

What are the chances for approval for a prime credit card ,

if score is above 720 on all 3 CRA no baddies except 2 on EX none on EQ none on TU

The baddies are like 6 years old

Have 2 accounts revolving, one is 2 years old and one is 2 years and half never miss apayment utilization is les than 5%

AAoA is 12.6 yrs

Inquires is 0 in the past 12 months , 6 in the past 24 months

which will be recommended cards

Thanks

Re: Approval Chances

Creditaddict — Tue, 18 Mar 2014 01:04:42 GMT

@from500to700 wrote:
Hello all ,

What are the chances for approval for a prime credit card ,
if score is above 720 on all 3 CRA no baddies except 2 on EX none on EQ none on TU
The baddies are like 6 years old
Have 2 accounts revolving, one is 2 years old and one is 2 years and half never miss apayment utilization is les than 5%
AAoA is 12.6 yrs

Inquires is 0 in the past 12 months , 6 in the past 24 months

which will be recommended cards
Thanks

have you checked pre-qual on each website?

Chase, citicards, discovercard, capitalone, bank of america, american express?

Re: Approval Chances

from500to700 — Tue, 18 Mar 2014 01:15:18 GMT

No I didnt , I have security freeze on all my reports.

Should I unfreeze them and then check pre qualify.

Thank you.

Re: Approval Chances

Creditaddict — Tue, 18 Mar 2014 01:34:28 GMT

@from500to700 wrote:
No I didnt , I have security freeze on all my reports.

Should I unfreeze them and then check pre qualify.

Thank you.

I would unfreeze and check in a couple weeks.

Re: Approval Chances

Anonymous — Tue, 18 Mar 2014 01:44:34 GMT

Look for cards that don't pull EX if you're worried. Discover often pulls EQ. If they see the baddies you'll likely have to call for recon.

Barclay seems to pull TU.

Chase Freedom seems to be comparible but they seem to pull everything.

If you really want to play it safe, freeze your EX to try and force EQ and TU.

Re: Approval Chances

One7 — Tue, 18 Mar 2014 07:41:44 GMT

Re: Approval Chances

takeshi74 — Tue, 18 Mar 2014 13:27:24 GMT

@from500to700 wrote:
which will be recommended cards

You need to clearly define what you're looking for. "Prime" isn't enough to go on.

Approval will vary depending on the creditor and their underwriting critiera. Again, "prime" is really vague. Some will deny, some might approve. Rather than focusing on what you can get determine what you need/want first.

Re: Approval Chances

Revelate — Tue, 18 Mar 2014 13:42:37 GMT

@takeshi74 wrote:
@from500to700 wrote:
which will be recommended cards

You need to clearly define what you're looking for. "Prime" isn't enough to go on.

Approval will vary depending on the creditor and their underwriting critiera. Again, "prime" is really vague. Some will deny, some might approve. Rather than focusing on what you can get determine what you need/want first.

Prime is a worthless designation: either the card works for you or it doesn't. Vis a vis CSP is a fantastic card and everyone would likely agree that it's "prime" by whatever definition they personally use, but it doesn't work for me.

As a result it's going to be until my life circumstances change before I rush out to get one.

Take a look at your spending pattern and current rewards packages, that'll determine what you're missing or what you can do better on, and that analysis will be enough to figure out what cards you should be looking at as acquiring pretty pieces of plastic just for the sake of collecting them is a worst investment than baseball cards.