On Friday, I talked with a NFCU specialist during the courtesy call they make to new bank members, and after going through all the info, I decided to take the leap and apply for the platinum Mastercard. Mind you, just a week ago I had pulled my fico scores and my Transunion score as shown below, left me feeling completely convinced I would not be approved. I was told they could pull either TU or Equifax. I hoped it was Equifax since it showed as my highest (Scores mentioned below).
The rep had barely said the words "application submitted" when I instantly received a CK notification showing a new inquiry was reported to TU. My heart sank and thought for sure I was denied. Well, they had to call me back a couple hours later to confirm some info due to the credit freeze I placed on my files due to Identity theft. A couple hours later I received an email saying I WAS APPROVED! A $3k limit (C1B is $700 limit)! WHAT?!? Holy cow I am STILL in shock! Thank you all for even recommending them and encouraging me to apply. I am elated. I plan on doing a balance transfer from my Credit 1 Bank Visa to the Mastercard once I recieve it. APR is %8.24
Now....I do not plan on using the C1B card anymore. I don't mind paying the annual fee just to keep it open and have it as my only Visa Credit Card. Is this a bad idea? I've only had it 7 months so I don't know if closing it so soon would be a bad move. If I'm not using it, I don't see how it could hurt me. I think I'd like to apply for a different Visa in Maybe another 6 months. I now have 1 Visa and 1 Mastercard.
What should my strategy be going forward? I don't want to apply for too much too soon. I think I did ok waiting 7 months in between? Tips?
Please and Thank you in advance. I'm VERY excited!
3 scores from Experian via their Experian Creditworks promo (as of 5/02/19):
Scores are as follows (Fico Score8 Data)
Experian: 600 (Fair)
Equifax 618 (Fair)
Transunion: 574 (Poor)
Filed Ch. 7: 9/2017
Received 1st Visa CC: C1Bank 10/2018
Received 1st MC CC: NFCU Platinum 5/2019
*Please feel free to @ me. I forgot to check to be notified of responses and I can't see that option now and can't fix it. Sorry, newbie here.*
@iguana1983 , I think you're doing right, and waiting a litle time in between apps. Give your reports, and scores some time to catch up, and start building those positive payment histories! Congrats on your success, and Id give it 6 months with these cards and payments showing on the CRA's, and then go for a 3rd card.