topic Re: Preparation for new credit card apps in Credit Cards

Preparation for new credit card apps

mongstradamus — Tue, 15 Apr 2014 17:47:01 GMT

I think my credit is in good enough an position to prepare for applications for fidelity amex and sallie mae cards. The one thing i am worried about is i recetnly opened up 3 cc last sept. Opened freedom, IT, and an amex BCP. Is it too soon for me to apply again for new credit?

My credit report looks like this EX has 7 hp and TU has 6 HP. Fico scores are as followed pulled my EX 3/21 and it was 780, my EQ from scorewatch is 800, and my TU from both walmart and discover showed 807, which was pulled on 4/4/14. What are my chances of being approved for both cards or should i wait another few months ?

Re: Preparation for new credit card apps

BigBS — Tue, 15 Apr 2014 18:00:19 GMT

Personally, I don't think you will have any problem getting approved with high CLs.

Re: Preparation for new credit card apps

mongstradamus — Tue, 15 Apr 2014 19:48:52 GMT

@BigBS wrote:
Personally, I don't think you will have any problem getting approved with high CLs.

Everything with my credit reports and fico score seem okay.I am just worried about the HP and new accounts.not so sure how Barclay and boa look at those.

Some of the fako sites give me F due to the amount of HP inquiries.I know they are fakos but am quite scared about that. Also I don't know how related this is but discover won't give me an SP CLI.

Re: Preparation for new credit card apps

B335is — Tue, 15 Apr 2014 20:03:53 GMT

You should have no problem. BoA approved me with many more inq (20+) and your FICO is very similar to mine.

Discover wont give me ant luv either.

Re: Preparation for new credit card apps

mongstradamus — Tue, 15 Apr 2014 20:08:31 GMT

@B335is wrote:
You should have no problem. BoA approved me with many more inq (20+) and your FICO is very similar to mine.

Discover wont give me ant luv either.

I am also worried about recently opened accounts. I thought I recalled reading somewhere about having at least a year of credit history.will it may be automatic denials for not having a year of credit history ?

Re: Preparation for new credit card apps

B335is — Tue, 15 Apr 2014 20:13:20 GMT

How many new accts in last 6 months? What is your aaoa?

Re: Preparation for new credit card apps

B335is — Tue, 15 Apr 2014 20:14:37 GMT

Sorry just re read yiur post. I think you should be OK especially since you gardened 6 months!

Re: Preparation for new credit card apps

Kenny — Tue, 15 Apr 2014 20:17:03 GMT

@mongstradamus wrote:
@B335is wrote:
You should have no problem. BoA approved me with many more inq (20+) and your FICO is very similar to mine.

Discover wont give me ant luv either.
I am also worried about recently opened accounts. I thought I recalled reading somewhere about having at least a year of credit history.will it may be automatic denials for not having a year of credit history ?

If your score is that high, there is no way you will get auto-denied. If anything, you should be instant approval. lol With your score being that high it has to mean you have a good AAoA. 3 CCs opened in September of last year isn't bad for new accounts.

What cards are you looking at?

Re: Preparation for new credit card apps

mongstradamus — Tue, 15 Apr 2014 20:22:30 GMT

@KennyRS wrote:
@mongstradamus wrote:
@B335is wrote:
You should have no problem. BoA approved me with many more inq (20+) and your FICO is very similar to mine.

Discover wont give me ant luv either.
I am also worried about recently opened accounts. I thought I recalled reading somewhere about having at least a year of credit history.will it may be automatic denials for not having a year of credit history ?
If your score is that high, there is no way you will get auto-denied. If anything, you should be instant approval. lol With your score being that high it has to mean you have a good AAoA. 3 CCs opened in September of last year isn't bad for new accounts.

What cards are you looking at?

Fidelity amex and Sallie Mae are the two cards I want to get sometime this spring or summer. I believe fidelity amex is experian pull and Sallie Mae is tu pull. I have 6+ inquiries on both tu and experian.

I don't know if I am just being overly worried about those HP and new accounts. I think according to my discover/Walmart fico score , one of the things holding me back is too many new accounts .

Re: Preparation for new credit card apps

BigBS — Tue, 15 Apr 2014 20:57:44 GMT

@mongstradamus wrote:
@KennyRS wrote:
@mongstradamus wrote:
@B335is wrote:
You should have no problem. BoA approved me with many more inq (20+) and your FICO is very similar to mine.

Discover wont give me ant luv either.
I am also worried about recently opened accounts. I thought I recalled reading somewhere about having at least a year of credit history.will it may be automatic denials for not having a year of credit history ?
If your score is that high, there is no way you will get auto-denied. If anything, you should be instant approval. lol With your score being that high it has to mean you have a good AAoA. 3 CCs opened in September of last year isn't bad for new accounts.

What cards are you looking at?
Fidelity amex and Sallie Mae are the two cards I want to get sometime this spring or summer. I believe fidelity amex is experian pull and Sallie Mae is tu pull. I have 6+ inquiries on both tu and experian.

I don't know if I am just being overly worried about those HP and new accounts. I think according to my discover/Walmart fico score , one of the things holding me back is too many new accounts .

In Feb of this year, I applied for Discover it and was instantly approved. Received the letter with my card and it said my score was 794 and at the time I had 2 HPs on each CRB. Since then I have received a Delta AMEX Gold, Barclays Arrival VS, LMCU PP Visa, NFCU cashRewards, Comenity Vitacost Visa, and Comenity Coldwater Creek Visa and my score has actually gone up to 799. Each time I check the score though it tells me that I have too many new accounts.

Re: Preparation for new credit card apps

Kenny — Tue, 15 Apr 2014 21:00:19 GMT

@mongstradamus wrote:
@KennyRS wrote:
@mongstradamus wrote:
@B335is wrote:
You should have no problem. BoA approved me with many more inq (20+) and your FICO is very similar to mine.

Discover wont give me ant luv either.
I am also worried about recently opened accounts. I thought I recalled reading somewhere about having at least a year of credit history.will it may be automatic denials for not having a year of credit history ?
If your score is that high, there is no way you will get auto-denied. If anything, you should be instant approval. lol With your score being that high it has to mean you have a good AAoA. 3 CCs opened in September of last year isn't bad for new accounts.

What cards are you looking at?
Fidelity amex and Sallie Mae are the two cards I want to get sometime this spring or summer. I believe fidelity amex is experian pull and Sallie Mae is tu pull. I have 6+ inquiries on both tu and experian.

I don't know if I am just being overly worried about those HP and new accounts. I think according to my discover/Walmart fico score , one of the things holding me back is too many new accounts .

That's just because it's not a 850 so they have to put something negative on there. You should have no problem getting both of them now, but if you want to hold out longer I'm sure you will get approved then, as well. I don't think there will be much of a CL difference with approval now vs later in the year. (They both should be pretty large.)

Re: Preparation for new credit card apps

Involver — Tue, 15 Apr 2014 21:13:12 GMT

You should be fine for both. I was approved for a Sallie Mae with 3 new accounts opened in the previous 3 months and 8 INQs on TU.

Re: Preparation for new credit card apps

OptimalCS — Tue, 15 Apr 2014 22:14:44 GMT

If you don't mind me asking why do you need those new cards?

Re: Preparation for new credit card apps

mongstradamus — Tue, 15 Apr 2014 22:20:40 GMT

@OptimalCS wrote:
If you don't mind me asking why do you need those new cards?

Its not an need more of an want lol.Sallie Mae is for 5% on gas and amazon. Fidelity amex is for 2% on anything not covered by 5% on Sallie Mae,freedom, it, or 6% groceries bcp . I could live without those two cards but they would be nice to have .

Re: Preparation for new credit card apps

mongstradamus — Wed, 16 Apr 2014 17:42:28 GMT

I think i have decided to give it a go and app , once i get my utilization down on my freedom, its around 30% right now. The one lingering question i have is I know after one year HP aren't factored into fico scores, but on cc are they usually manual reviews? If so would that mean they would still see the HP ?