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Applying for a new Card.

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Regular Contributor

Applying for a new Card.

Hey guys.

 

Currently thinking about applying for the Venture Card so I can get the 75k miles bonus. 

 

My current combined total limit is $27500, however on my most recent credit report is $15900, which was my prev total limit. 

 

Should I wait until the $27k is reflected on the report, or I can just do it now. Mainly to get a higher limit on the new card. 

 

Thank you.

740 EQ

742 TU

730 EX


Canadian Credit Cards
Message 1 of 8
7 REPLIES 7
Valued Contributor

Re: Applying for a new Card.

More info would be helpful -

AAoA?
Inq's?
Etc.
Based on that - from what I see, scores look good, doing it before or after it updates is up to you. I don't think it would make much of a difference.


Scores - All bureaus 750 +/-
TCL - Est. $275K
Message 2 of 8
Regular Contributor

Re: Applying for a new Card.


@xaximus wrote:
More info would be helpful -

AAoA?
Inq's?
Etc.
Based on that - from what I see, scores look good, doing it before or after it updates is up to you. I don't think it would make much of a difference.

I think AAoA is 10 months., oldest 1yr 3 mo.

Inq EQ 2, TU2, EX 5

utilization less than 1%.

payment 100%


Canadian Credit Cards
Message 3 of 8
Community Leader
Senior Contributor

Re: Applying for a new Card.

What's the age of your youngest account? How many cards have you added in the last six months? And what are your current limits?

 

Because the Venture has a minimum 5k starting limit, I'd wait until your new limits report.

Message 4 of 8
Regular Contributor

Re: Applying for a new Card.


@HeavenOhio wrote:

What's the age of your youngest account? How many cards have you added in the last six months? And what are your current limits?

 

Because the Venture has a minimum 5k starting limit, I'd wait until your new limits report.


Applied and declined lol. Never mind.


Canadian Credit Cards
Message 5 of 8
Valued Contributor

Re: Applying for a new Card.


@jxh5760 wrote:

 Applied and declined lol. Never mind.


Looks like too soon. Sorry. I know the feeling.

Starting Score: (5/24/2018) -- FICO 08 EXP: 643; FICO 08 TU: 642; FICO 08 EQ: 677
Current Score (10/17/2019): FICO 08 EXP: 739; TU: 744; EQ: 749
2019 Goal Score: 800 across the board


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Message 6 of 8
Moderator

Re: Applying for a new Card.


@jxh5760 wrote:

Hey guys.

 

Currently thinking about applying for the Venture Card so I can get the 75k miles bonus. 

 

My current combined total limit is $27500, however on my most recent credit report is $15900, which was my prev total limit. 

 

Should I wait until the $27k is reflected on the report, or I can just do it now. Mainly to get a higher limit on the new card. 

 

Thank you.

740 EQ

742 TU

730 EX


A little late now, but you did ask.  Personally, and as mentioned further upthread, I would've waited since you would've had more favorable results down the road instead of pulling the trigger today.   But, what's done is done 👍

Message 7 of 8
Valued Contributor

Re: Applying for a new Card.

Sorry you were denied Op. Use this as a lesson learned to have a bit more patience. I certainly get the itchy finger feeling, but you want to make sure you have everything lined up first, for a better shot of approval.
                               

Total Credit: $240,100Credit Utilization: 1%AAoA: 5 years, 7 monthsInstallments: Car Lease, Marcus LoanNegatives: 0

LOWES-35k | BOA-32.5k | AMEX-30k | DISC-27.1k | ALLIANT-25k | NFCU-25k | BARC-15k | BBUY-12k | CHASE-10k | WAL-10k | CITI-9.7k | PENFED-9.7k


Message 8 of 8
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