topic Re: Ideal Utilization before CSP app in Credit Cards

Ideal Utilization before CSP app

kaskuli — Sun, 06 Jul 2014 03:24:35 GMT

Hi guys, these are my current revolving balances

Wells Fargo 0/1700 0%

Discover 0/2500 0%

Amazon 0/2500 0%

Freedom 50/7000 0.7%

Amex BCP 0/7500 0%

Paypal MC 180/2000 9%

About 1% util overall

Acquired the Freedom card in January, my last apps were on 1/1/2014. I did a 6.5K balance transfer and paid it off in 4 months, otherwise I've only used it sparingly. I think that while 1%, 2% is good for scoring, it may seem like I'm "not making use of credit". I need decent limits on my next round of apps later this month as I intend to close the accounts that simply refuse to grow with me.

Or will the internal score with Chase be more of a factor?

Re: Ideal Utilization before CSP app

Kenny — Sun, 06 Jul 2014 03:27:43 GMT

I would think there should be no issues regarding your utilization. Primed for the CSP app! Best of luck, I don't think you'll need it though!!

Re: Ideal Utilization before CSP app

Anonymous — Sun, 06 Jul 2014 03:45:48 GMT

I think you look pretty good and your scores are nice. What is your AAoA? Any negatives on your report? You mentioned new apps in Jan, so how many of your cards are new? Good luck to you!

Re: Ideal Utilization before CSP app

kaskuli — Sun, 06 Jul 2014 03:59:38 GMT

Wells Fargo 10/2012 [ 21 months ]

Discover It, Amazon SC, Amex Green 7/2013 [ 12 months ]

Amex BCP, PRG opened 1/2014 backdated to Jan 2013 [ 18 months ]

Freedom, Paypal 1/2014 [ 6 months ]

AAoA 13.1 months

Income 60~75K range

--------------------------------------------------------------------------------------------

No inqs since 1/1/2014, my inqs from last July will stop hurting my score soon, so INQs in the last 12 months will be EQ1, EX2, TU1

Hope to app for Fidelity Amex and Merrill+ too

Re: Ideal Utilization before CSP app

Anonymous — Sun, 06 Jul 2014 04:07:03 GMT

@kaskuli wrote:
Wells Fargo 10/2012 [ 21 months ]

Discover It, Amazon SC, Amex Green 7/2013 [ 12 months ]

Amex BCP, PRG opened 1/2014 backdated to Jan 2013 [ 18 months ]

Freedom, Paypal 1/2014 [ 6 months ]

AAoA 13.1 months

Income 60~75K range

--------------------------------------------------------------------------------------------

No inqs since 1/1/2014, my inqs from last July will stop hurting my score soon, so INQs in the last 12 months will be EQ1, EX2, TU1

Hope to app for Fidelity Amex and Merrill+ too

Chase doesn't like me, so I'm no expert, but I'd say you look like you're in pretty good shape then! Can't wait to hear how successful you were!

Re: Ideal Utilization before CSP app

kaskuli — Sun, 06 Jul 2014 04:07:15 GMT

Was denied my Amex 3x CLi on 4/28 ... Will try again, but I think with my charge cards I have too exposure. Wonder if I should postpone my CSP app until after 7/27 ( 90 days since denial ) and try for the Amex 3x, and if successful, wait for that to be reported to CRAs... I want to close my Green and Wells Fargo but not until after this mini spree...

Re: Ideal Utilization before CSP app

kaskuli — Sun, 06 Jul 2014 04:08:03 GMT

@Anonymous wrote:

Chase doesn't like me, so I'm no expert, but I'd say you look like you're in pretty good shape then! Can't wait to hear how successful you were!

Well aren't you an optimistic fellow?!

Thanks

Re: Ideal Utilization before CSP app

mongstradamus — Sun, 06 Jul 2014 04:09:09 GMT

@Anonymous wrote:
@kaskuli wrote:
Wells Fargo 10/2012 [ 21 months ]

Discover It, Amazon SC, Amex Green 7/2013 [ 12 months ]

Amex BCP, PRG opened 1/2014 backdated to Jan 2013 [ 18 months ]

Freedom, Paypal 1/2014 [ 6 months ]

AAoA 13.1 months

Income 60~75K range

--------------------------------------------------------------------------------------------

No inqs since 1/1/2014, my inqs from last July will stop hurting my score soon, so INQs in the last 12 months will be EQ1, EX2, TU1

Hope to app for Fidelity Amex and Merrill+ too

Chase doesn't like me, so I'm no expert, but I'd say you look like you're in pretty good shape then! Can't wait to hear how successful you were!

Your CL were an bit better than mine when i apped for CSP in may, and i was approved for an decent 9k . Also i think you have an lot less inq than me. When i apped in may I hadn't apped for anything since sept 2013, but i had 7 ex 4 eq and 6 TU. They double pulled me with Ex and TU.

Re: Ideal Utilization before CSP app

Anonymous — Sun, 06 Jul 2014 04:13:39 GMT

@kaskuli wrote:
@Anonymous wrote:

Chase doesn't like me, so I'm no expert, but I'd say you look like you're in pretty good shape then! Can't wait to hear how successful you were!
Well aren't you an optimistic fellow?!

Thanks

lady, and yes I am lol your chances really look good to me :-)

Re: Ideal Utilization before CSP app

kaskuli — Sun, 06 Jul 2014 04:15:59 GMT

Lady!, sorry

Re: Ideal Utilization before CSP app

Florida1990 — Sun, 06 Jul 2014 04:24:14 GMT

They will grow give them time if not if they don't have annual fees why not keep them and charge a small item here and there.

Re: Ideal Utilization before CSP app

takeshi74 — Sun, 06 Jul 2014 04:38:21 GMT

@kaskuli wrote:
I think that while 1%, 2% is good for scoring, it may seem like I'm "not making use of credit".

Why do you think that's an issue? Your utilization is fine. Just be aware that it's not the only factor that matters.

Re: Ideal Utilization before CSP app

kaskuli — Sun, 06 Jul 2014 04:43:29 GMT

@takeshi74 wrote:
@kaskuli wrote:
I think that while 1%, 2% is good for scoring, it may seem like I'm "not making use of credit".
Why do you think that's an issue? Your utilization is fine. Just be aware that it's not the only factor that matters.

When I recon for more I don't want to seem like I'm one of those guys who spends Saturday nights on myfico trying to figure out ways to game the system

I remember once I think Lexie was denied because she "didn't have enough experience managing credit" or something along those lines...because balances were "too low"

Re: Ideal Utilization before CSP app

09Lexie — Sun, 06 Jul 2014 08:59:36 GMT

@kaskuli wrote:
@takeshi74 wrote:
@kaskuli wrote:
I think that while 1%, 2% is good for scoring, it may seem like I'm "not making use of credit".
Why do you think that's an issue? Your utilization is fine. Just be aware that it's not the only factor that matters.
When I recon for more I don't want to seem like I'm one of those guys who spends Saturday nights on myfico trying to figure out ways to game the system

I remember once I think Lexie was denied because she "didn't have enough experience managing credit" or something along those lines...because balances were "too low"
Hmm, I think you are referring to Barclays. The reason was I didn't use enough of my existing credit lins-or something like that

Regarding Chase, I was approved last month with 15-17% util for a$20k CL.

Re: Ideal Utilization before CSP app

Fico2Go — Sun, 06 Jul 2014 14:08:15 GMT

@09Lexie wrote:
@kaskuli wrote:
@takeshi74 wrote:
@kaskuli wrote:
I think that while 1%, 2% is good for scoring, it may seem like I'm "not making use of credit".
Why do you think that's an issue? Your utilization is fine. Just be aware that it's not the only factor that matters.
When I recon for more I don't want to seem like I'm one of those guys who spends Saturday nights on myfico trying to figure out ways to game the system

I remember once I think Lexie was denied because she "didn't have enough experience managing credit" or something along those lines...because balances were "too low"
Hmm, I think you are referring to Barclays. The reason was I didn't use enough of my existing credit lins-or something like that
Regarding Chase, I was approved last month with 15-17% util for a$20k CL.

Lexie, did your CL approval by Chase happen to be your second highest of all the CLs? I have heard that CHASE generally tries to give the second highest.

Re: Ideal Utilization before CSP app

09Lexie — Sun, 06 Jul 2014 18:02:57 GMT

@Fico2Go wrote:
@09Lexie wrote:
@kaskuli wrote:
@takeshi74 wrote:
@kaskuli wrote:
I think that while 1%, 2% is good for scoring, it may seem like I'm "not making use of credit".
Why do you think that's an issue? Your utilization is fine. Just be aware that it's not the only factor that matters.
When I recon for more I don't want to seem like I'm one of those guys who spends Saturday nights on myfico trying to figure out ways to game the system

I remember once I think Lexie was denied because she "didn't have enough experience managing credit" or something along those lines...because balances were "too low"
Hmm, I think you are referring to Barclays. The reason was I didn't use enough of my existing credit lins-or something like that
Regarding Chase, I was approved last month with 15-17% util for a$20k CL.

Lexie, did your CL approval by Chase happen to be your second highest of all the CLs? I have heard that CHASE generally tries to give the second highest.

No, I have others that exceed $20k - $ 27.5k, $25k, $20k x2