topic Re: Should I App? in Rebuilding Your Credit

Should I App?

Anonymous — Fri, 13 Nov 2015 16:45:25 GMT

So.... My score just went to 582. I see quite a few people who have been approved for an unsecured card with a score around mine (some lower)..... Should I see if I pre-qual for a card now, or wait until planned 595 score?

#Tempted #Anxious

Re: Should I App?

Anonymous — Fri, 13 Nov 2015 17:19:12 GMT

OK - I would try the CapOne prequal site -but if you don't get the "Congratulations" message - I'd probably hold off on the actual app - at least for a few more points......

If you get the actual "Congratulations" you are pre-approved for Card X - then go for it......Probably Platinum - but if it get it - then hit up for QS1 at the same time - it'll only count as one set of pulls......

However, like I said - I would tread lightly - if no "congrats" just hold off a bit.....

Re: Should I App?

Anonymous — Fri, 13 Nov 2015 17:41:03 GMT

Ok.... Thanks.... Will wait for a few more people to chime in.....

Re: Should I App?

Anonymous514 — Fri, 13 Nov 2015 17:57:47 GMT

I'd try something like the cap one platinum or qs1. AF but usually with the qs1 you can call the EO after a year of responsible use and on time payments to have it removed. Did that with my qs1 and had it pc'd to a venture one. Or you can try a store card like Amazon and Wal-Mart! Goodluck!

Re: Should I App?

Pway — Fri, 13 Nov 2015 18:03:46 GMT

I would see what Capital One pre qual site has to offer you then app.

Re: Should I App?

Anonymous — Fri, 13 Nov 2015 18:10:06 GMT

@bigalkescott514 wrote:
I'd try something like the cap one platinum or qs1. AF but usually with the qs1 you can call the EO after a year of responsible use and on time payments to have it removed. Did that with my qs1 and had it pc'd to a venture one. Or you can try a store card like Amazon and Wal-Mart! Goodluck!

The Platinum does not have an annual fee. The Classic Platinum has an annual fee, but lower interest rate. Both have the same qualification requirements. The QS1 has an annual fee, but the QS does not. BUT - the QS is harder to qualify for than the QS1. Here's the thing - you can get the Platinum - no AF, and after the second statement you can get it upgraded to QS reward level. You basically get the "full" QS without having to qualify at the higher credit level. Thats why I always recommend people app for the Platinum first - its the "keeper", and get the QS1 second - that one you just roll into the upgraded Platinum card before annual fee time comes around.

Re: Should I App?

Anonymous — Fri, 13 Nov 2015 18:09:20 GMT

@Anonymous wrote:
So.... My score just went to 582. I see quite a few people who have been approved for an unsecured card with a score around mine (some lower)..... Should I see if I pre-qual for a card now, or wait until planned 595 score?

#Tempted #Anxious

Britt - which of your scores is 582? Cap One does a triple pull, but I believe they still use FICO 04 from Equifax for the approval decision. Do you know your FICO 04 scores?

Re: Should I App?

Anonymous — Fri, 13 Nov 2015 18:34:43 GMT

EQ: 582

TU: 562

TU ALWAYS updates like a week or so after EQ for me.

Should I wait until I make a payment on my Fingerhut and bring the uti down (89/200), payment not due until 12/3, but plan on making payment on 11/20?

Re: Should I App?

Anonymous — Fri, 13 Nov 2015 18:49:47 GMT

Looking at the Prequal site does not have any affect on your credit whatsoever. I would say go for it! Good luck!

Re: Should I App?

Anonymous — Fri, 13 Nov 2015 20:14:22 GMT

@Anonymous wrote:
EQ: 582

TU: 562

TU ALWAYS updates like a week or so after EQ for me.

Should I wait until I make a payment on my Fingerhut and bring the uti down (89/200), payment not due until 12/3, but plan on making payment on 11/20?

I would wait until that FH account goes below 30% ($60), and then hit it.

Re: Should I App?

Anonymous — Fri, 13 Nov 2015 20:20:56 GMT

OK.....

Here's the plan....

Will make payments on Monday AND Friday (originally planned to pay Friday)

IF Monday payment reflects on Credit Report.... Hoping will put me close to 590, then will apply.... So I'm just going to lower my app CR (self requirement) by 5 points, lol...

#TheWaitIsKillingMe