Affinity FCU Cash Rewards Card - When should I apply?

[Tinkiegrrl]

I already joined the credit union itself. Just got the debit card in the mail today in fact. I'm going for the $150 bonus they're offering on their cash back checking account. I'm also parking $2499 in the 2% APY savings. Further, I'm liking their money management tool. Works in a similar way to Mint. This may actually become my main bank. I'm in Staten Island so getting to an actual branch in NJ will be pretty easy for me should the need arise. Anyway, really, I joined for the credit card of course. Thing is I only have 9 months of credit history and I've opened 4 cards in that time frame because I'm ADHD and discovered that I really like shiny new cards. Don't worry, I slowed down. Last card I opened was just over 3 months ago and despite my ADHD I've been keeping up with the accounts just fine. FICO scores are all approaching mid 700's. Considering this, when would it be best for me to try and apply for this card? Amazon is a big spend category to me, and the rotating categories will serve me well too. Last card I opened was 9/1/21. March will mark 1 yr of building credit for me and 6 months since I opened my last card. Will it be okay then, or should I wait longer?

EDIT: Thanks everyone. I'm gonna abandon this idea for now. It'll be a number of years before I get an average credit limit over $5k with a couple low limit cards I have right now not likely to get much higher being factored in. I can get there faster applying to other cards, but that will lower average age of credit so either way, it'll be a number of years. By then my interest may be elsewhere. For Amazon spend maybe I'll just go for the Chase Amazon card when I hit a year of building. I wound up with a good, local to me credit union anyway. I actually like Affinity, and wanted to replace one of my bank accounts so it's fine that I joined. 

[ZackAttack]

Hi,

Can you list what credit cards you have and their credit limits?

[Tinkiegrrl]

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@ZackAttack wrote:

Hi,

Can you list what credit cards you have and their credit limits?

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Capital One Quicksilver - Opened 3/21 - $400 CL

Discover It Cash Back - Opened 4/21 - $1500 CL

Cred.ai - Opened 5/21 - $1500 CL

Apple Card Opened 9/21 - $7400 CL

Fico scores are 742 Experian, 738 Equifax and 726 Transunion. I have 4 inquiries on Transunion, hence the lower score there. None on Experian

[ZackAttack]

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@Tinkiegrrl wrote:

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@ZackAttack wrote:

Hi,

Can you list what credit cards you have and their credit limits?

---

Capital One Quicksilver - Opened 3/21 - $400 CL

Discover It Cash Back - Opened 4/21 - $1500 CL

Cred.ai - Opened 5/21 - $1500 CL

Apple Card Opened 9/21 - $7400 CL

Fico scores are 742 Experian, 738 Equifax and 726 Transunion. I have 4 inquiries on Transunion, hence the lower score there. None on Experian

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Having only 9 months of credit history and 4 cards is impressive, but I think you may not stand a chance at getting this Affinity cash rewards cad at this time. Seeing how Affinity has multiple card offerings and this card is marked with "Visa Signature" which usually means a min credit limit of $5,000.

If I added yours up, (400+1500+1500+7400)/4 = $2,700 avg CL. Unfortunately, the best bet in achieving this card is to grow the cards you have while aging out the accounts you have already opened. There is no way to bet time but take it slow. Good luck with your journey.

While aging out your cards, I strongly suggest seeing if any SP CLI offerings are open after your statement cuts. I know that discover cli can be off and on.

[Tinkiegrrl]

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@ZackAttack wrote:

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@Tinkiegrrl wrote:

---

@ZackAttack wrote:

Hi,

Can you list what credit cards you have and their credit limits?

---

Capital One Quicksilver - Opened 3/21 - $400 CL

Discover It Cash Back - Opened 4/21 - $1500 CL

Cred.ai - Opened 5/21 - $1500 CL

Apple Card Opened 9/21 - $7400 CL

Fico scores are 742 Experian, 738 Equifax and 726 Transunion. I have 4 inquiries on Transunion, hence the lower score there. None on Experian

---

Having only 9 months of credit history and 4 cards is impressive, but I think you may not stand a chance at getting this Affinity cash rewards cad at this time. Seeing how Affinity has multiple card offerings and this card is marked with "Visa Signature" which usually means a min credit limit of $5,000.

If I added yours up, (400+1500+1500+7400)/4 = $2,700 avg CL. Unfortunately, the best bet in achieving this card is to grow the cards you have while aging out the accounts you have already opened. There is no way to bet time but take it slow. Good luck with your journey.

While aging out your cards, I strongly suggest seeing if any SP CLI offerings are open after your statement cuts. I know that discover cli can be off and on.

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Apple already recently gave me one increase from $4400 to $7400. They usually consider them every 91 days so I can around Feb 5th for another. Discover just graduated me an unsecured card in November. Doubt they'll give me an increase anytime soon. If average credit card limit matters, would I be beneficial to cancel the Quicksilver? I suspect it's bucketed and it'll continue to drag my average credit limit down. I knew average age of accounts mattered. I didn't know average credit limit mattered. I was going to hang on to it as my oldest card but I won't if it's harming me

[Tinkiegrrl]

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@ZackAttack wrote:

---

@Tinkiegrrl wrote:

---

@ZackAttack wrote:

Hi,

Can you list what credit cards you have and their credit limits?

---

Capital One Quicksilver - Opened 3/21 - $400 CL

Discover It Cash Back - Opened 4/21 - $1500 CL

Cred.ai - Opened 5/21 - $1500 CL

Apple Card Opened 9/21 - $7400 CL

Fico scores are 742 Experian, 738 Equifax and 726 Transunion. I have 4 inquiries on Transunion, hence the lower score there. None on Experian

---

Having only 9 months of credit history and 4 cards is impressive, but I think you may not stand a chance at getting this Affinity cash rewards cad at this time. Seeing how Affinity has multiple card offerings and this card is marked with "Visa Signature" which usually means a min credit limit of $5,000.

If I added yours up, (400+1500+1500+7400)/4 = $2,700 avg CL. Unfortunately, the best bet in achieving this card is to grow the cards you have while aging out the accounts you have already opened. There is no way to bet time but take it slow. Good luck with your journey.

While aging out your cards, I strongly suggest seeing if any SP CLI offerings are open after your statement cuts. I know that discover cli can be off and on.

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Would opening a card with a 10k limit help? FNBO pre approved me for that. It's not a bad card either. Flat 2% cash back with a $200 sign up bonus. I've been holding off because I've already opened so many.

[sugarcreek67]

I would not close the cap one card if it is your oldest card. I have the same quicksilver card @ 500SL and they will not give even a 10 cli. but it is my oldest and so I sock drawer it. I use it for a 20ish dollar subscription to show use and to do all zero except one. I also agree with previous post about letting your accounts age. If you really want that affinity card going to take time and patience to obtain. its a great card 2% flat + the rotating hi 5 categories every quarter.  You could call affinity and talk to a LO about it. they are very friendly and helpful when I have called in.  Good Luck!

[Tinkiegrrl]

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@sugarcreek67 wrote:

I would not close the cap one card if it is your oldest card. I have the same quicksilver card @ 500SL and they will not give even a 10 cli. but it is my oldest and so I sock drawer it. I use it for a 20ish dollar subscription to show use and to do all zero except one. I also agree with previous post about letting your accounts age. If you really want that affinity card going to take time and patience to obtain. its a great card 2% flat + the rotating hi 5 categories every quarter.  You could call affinity and talk to a LO about it. they are very friendly and helpful when I have called in.  Good Luck!

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Oh I know I need to let my cards age. What's new to me is the average credit limit thing. I didn't know that was a factor unless your utilization was high. I know how to manipulate that before applying for a card so the credit limits never concerned me before now. In order to ever qualify for this card, not only do I need to let my cards age, I'll likely need to apply for another one before then to get my average credit limit up. Apple is pretty reliable for credit limit increases but others aren't so much. 

edited to add: Perhaps I should consider some of the Amex offers being sent to me for high credit limits. I hear they're good for that, but I'd basically only be using the card for the limit. I don't travel so their rewards aren't appealing to me

[ZackAttack]

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@Tinkiegrrl wrote:

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@sugarcreek67 wrote:

I would not close the cap one card if it is your oldest card. I have the same quicksilver card @ 500SL and they will not give even a 10 cli. but it is my oldest and so I sock drawer it. I use it for a 20ish dollar subscription to show use and to do all zero except one. I also agree with previous post about letting your accounts age. If you really want that affinity card going to take time and patience to obtain. its a great card 2% flat + the rotating hi 5 categories every quarter.  You could call affinity and talk to a LO about it. they are very friendly and helpful when I have called in.  Good Luck!

---

Oh I know I need to let my cards age. What's new to me is the average credit limit thing. I didn't know that was a factor unless your utilization was high. I know how to manipulate that before applying for a card so the credit limits never concerned me before now. In order to ever qualify for this card, not only do I need to let my cards age, I'll likely need to apply for another one before then to get my average credit limit up. Apple is pretty reliable for credit limit increases but others aren't so much. 

edited to add: Perhaps I should consider some of the Amex offers being sent to me for high credit limits. I hear they're good for that, but I'd basically only be using the card for the limit. I don't travel so their rewards aren't appealing to me

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All lenders can do anything they want to evaluate you. I doubt opening a $10,000 CL would be that much benefit because I just don't see why a lender would approve you.

For example, if you tried to apply at Chase for a min $10k card, they would deny you because they see no revolving account with $10k or higher. If the min was $5k, they may see 1 account ... but that all depends on how the lender wants to evaluate you.

As for opening random accounts, I would encourage you to keep your mind open, applying cards that sever no benefit usually ends up as a waste of time.

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You are more welcome to try @sugarcreek67 idea about calling, but I suspect that would occur a Hard Pull assuming there is no pre-approved offer in the online banking. Even if they approve you right now, I bet they would give you just $5,000 CL because of history/age.

[Tinkiegrrl]

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@ZackAttack wrote:

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@Tinkiegrrl wrote:

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@sugarcreek67 wrote:

I would not close the cap one card if it is your oldest card. I have the same quicksilver card @ 500SL and they will not give even a 10 cli. but it is my oldest and so I sock drawer it. I use it for a 20ish dollar subscription to show use and to do all zero except one. I also agree with previous post about letting your accounts age. If you really want that affinity card going to take time and patience to obtain. its a great card 2% flat + the rotating hi 5 categories every quarter.  You could call affinity and talk to a LO about it. they are very friendly and helpful when I have called in.  Good Luck!

---

Oh I know I need to let my cards age. What's new to me is the average credit limit thing. I didn't know that was a factor unless your utilization was high. I know how to manipulate that before applying for a card so the credit limits never concerned me before now. In order to ever qualify for this card, not only do I need to let my cards age, I'll likely need to apply for another one before then to get my average credit limit up. Apple is pretty reliable for credit limit increases but others aren't so much. 

edited to add: Perhaps I should consider some of the Amex offers being sent to me for high credit limits. I hear they're good for that, but I'd basically only be using the card for the limit. I don't travel so their rewards aren't appealing to me

---

All lenders can do anything they want to evaluate you. I doubt opening a $10,000 CL would be that much benefit because I just don't see why a lender would approve you.

For example, if you tried to apply at Chase for a min $10k card, they would deny you because they see no revolving account with $10k or higher. If the min was $5k, they may see 1 account ... but that all depends on how the lender wants to evaluate you.

As for opening random accounts, I would encourage you to keep your mind open, applying cards that sever no benefit usually ends up as a waste of time.

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

You are more welcome to try @sugarcreek67 idea about calling, but I suspect that would occur a Hard Pull assuming there is no pre-approved offer in the online banking. Even if they approve you right now, I bet they would give you just $5,000 CL because of history/age.

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How does anyone get to those high limits if you need the high limits to get the high limits? I could eventually see getting Apple to go that high with time. But it's the only card in my line up right now that might go that high with time. If I didn't have it then maybe in like, 5 yrs or so Discover might be, maybe. I suppose that it though huh? Garden for years...