AAoA is 1 year, when should I apply for a second credit card?

[Anonymous]

Hello,  

I applied for the Discover student cash back card back in 08/16. I was instantly approved for $1K. Have been using the card responsibly all year long and have kept my utilization well below 30%. At the 6 month mark Discover automatically increased my limit to $1500. Just a few weeks ago after 11 months, I asked for a CLI and recieved an increase to $2500 total. I am 19 years old now, with an AAoA at a year. My TU score is 722 and my EQ score is 736. They have steadily been going up month after month. Anyways, I would like to apply for the Chase Freedom Unlimited card. I have the right credit score but I am afraid that I will get denied for having such a short time experience with credit. I am not sure what to do, when do you guys recommend I try to apply for the Chase FU card? Might I also mention that I have had a checkings and savings with Chase Bank for at least 3-4 years now. 

Any recs? 

Thanks

[peghede]

1st.Stay away from Synchrony R.I.P  and Barclay.

2nd. NFCU

[Anonymous]

New to this site... not entirely sure what you are recommending...

[Anonymous]

Where are you getting your scores from?  Since you list only your EQ and TU scores, I fear you may be looking at CK or a source that provides non-FICO scores.

If you are using CK and are going by what they say your AAoA is, it doesn't include closed accounts... which means your AAoA is actually higher than that, as it DOES include closed accounts under FICO scoring.

If your AAoA is over a year, you're in a pretty good place as far as apping for a second card goes.  Chase is usually OK if your AAoA is 1 year or greater.  Have you checked the Chase pre-qual site to see if you have any offers?  I'd think you'd get approved for the FU personally.

[Anonymous]

I usually just check CK.. I don't know where else to check that doesn't cost money I guess. Suggestions on that?

And I do not have any closed accounts. The only account I've ever had is my Discover cc so my AAoA is 1 year either way.

Yeah, I tried to check Chase's pre-qual website but it said that I've opted out of credit messages or something like that so they did not give me a response. I've never opted out of anything so I'm not entirely sure what that means.

Thanks for your help so far.

[Anonymous]

If you're under 21, Chase won't show prequals. Creditscorecard.com shows an EX? (might be EQ, can't remember) FICO score and your Discover card shows a TU Fico score.

[Anonymous]

Interesting. Do you know why Chase won't show them for 21 and under? Also I just checked my Discover Fico score. 724 so it's right in the middle of both my CK scores. Do you think I should apply for the Chase FU card?

[Anonymous]

Do you have a banking relationship with Chase? My Freedom card was my first right when I turned 18 with a $500 SL, so a prior banking relationship may help. Chase likes to see at least 1 year, so I think you have a good shot! 

Check Amex pre-qualified offers. I started receiving them with an AAoA of 6 mo and it is still the only site that shows them for me.

[Anonymous]

Your score seems fine and your file is clean, I don't see any reason not to apply. Good luck!

[Anonymous]

I've looked into Amex but I prefer Chase tbh. And yes I do have a banking relationship with them. I've had a checking and savings account opened with them since I was 15. I hope that they'll approve me for a decent limit considering my Discover card SL is $2500. I'd hate to get one with anything lower than $1K.