Considering applying for another card :)

Anonymous · ‎08-26-2015

Well... my Amex Card just posted to my reports, showing my $5k Tradeline, and I was thinking... Maybe, I should consider opening another Visa account, or getting my first Mastercard

My Experian Score is 755 (FICO 08) with 1Inq (Early June) & I have a TU (FICO08) score of 738 with (with no Inq's in the last 6 months)... However, with that said, I don't think my scores would support something like a Citi Double Cash Back card, or a Sallie Mae Card, but... I could be wrong

I'm curious, do you guys think I have a shot?

AAOA - 9 Months.

Utilization - 11%

Anonymous · ‎08-26-2015

When I applied for my Sallie Mae, I had a much lower score than you. I'd say go for it, but ONLY if it fits your spending needs. Good luck!

Anonymous · ‎08-26-2015

@Anonymous wrote:
Well... my Amex Card just posted to my reports, showing my $5k Tradeline, and I was thinking... Maybe, I should consider opening another Visa account, or getting my first Mastercard

My Experian Score is 755 (FICO 08) with 1Inq (Early June) & I have a TU (FICO08) score of 738 with (with no Inq's in the last 6 months)... However, with that said, I don't think my scores would support something like a Citi Double Cash Back card, or a Sallie Mae Card, but... I could be wrong

I'm curious, do you guys think I have a shot?

AAOA - 9 Months.
Utilization - 11%

Did you go for it? good luck if you havent.

Anonymous · ‎08-26-2015

@Anonymous wrote:
When I applied for my Sallie Mae, I had a much lower score than you. I'd say go for it, but ONLY if it fits your spending needs. Good luck!

When I apped for Sallie Mae I had a much higher score, (800), and had to recon to get approved. Scores aren't everything.

Anonymous · ‎08-26-2015

Hey OP!

Is there a particular card that fits your lifestyle that you want? Right now, I would focus on allowing your accounts to age. In 61 days your new Amex will be eligible for 3X CLI. You could request it at activation. If denied, you would have to wait 90 days. Show creditors that you can be trusted with the new 5K CL and you will be rewarded for it with possible higher starting limits.

Best of luck!!!

NRB525 · ‎08-26-2015

@Anonymous wrote:
Well... my Amex Card just posted to my reports, showing my $5k Tradeline, and I was thinking... Maybe, I should consider opening another Visa account, or getting my first Mastercard

My Experian Score is 755 (FICO 08) with 1Inq (Early June) & I have a TU (FICO08) score of 738 with (with no Inq's in the last 6 months)... However, with that said, I don't think my scores would support something like a Citi Double Cash Back card, or a Sallie Mae Card, but... I could be wrong

I'm curious, do you guys think I have a shot?

AAOA - 9 Months.
Utilization - 11%

If you want direct feedback whether the Double Cash is something you could get, go to the Citi website and use their credit card prequalification tool. It is a SP, and the results you get there will be a good indicator how you will fare if you app in the same session. (results can change day to day, so it's best to take action if you intended to, complete the app in the same session)

A range of APR, is not so good.

A specific APR, particularly the lowest APR that that card offers, is a very good situation.

A specific APR with a higher APR, well, that's the APR they would give you on this app. Your choice to go ahead with the app, or to wait longer.

High Bal Jan 2009 $116k on $146k limits 80% Util.
Oct 2014 $46k on $127k 36% util EQ 722 TU 727 EX 727
April 2018 $18k on $344k 5% util EQ 806 TU 810 EX 812
Jan 2019 $7.6k on $360k EQ 832 TU 839 EX 831
March 2021 $33k on $312k EQ 796 TU 798 EX 801
May 2021 Paid all Installments and Mortgages, one new Mortgage EQ 761 TY 774 EX 777
April 2022 EQ=811 TU=807 EX=805 - TU VS 3.0 765

Anonymous · ‎08-27-2015

@NRB525 wrote:
@Anonymous wrote:
Well... my Amex Card just posted to my reports, showing my $5k Tradeline, and I was thinking... Maybe, I should consider opening another Visa account, or getting my first Mastercard

My Experian Score is 755 (FICO 08) with 1Inq (Early June) & I have a TU (FICO08) score of 738 with (with no Inq's in the last 6 months)... However, with that said, I don't think my scores would support something like a Citi Double Cash Back card, or a Sallie Mae Card, but... I could be wrong

I'm curious, do you guys think I have a shot?

AAOA - 9 Months.
Utilization - 11%
If you want direct feedback whether the Double Cash is something you could get, go to the Citi website and use their credit card prequalification tool. It is a SP, and the results you get there will be a good indicator how you will fare if you app in the same session. (results can change day to day, so it's best to take action if you intended to, complete the app in the same session)
A range of APR, is not so good.
A specific APR, particularly the lowest APR that that card offers, is a very good situation.
A specific APR with a higher APR, well, that's the APR they would give you on this app. Your choice to go ahead with the app, or to wait longer.

and in my experience waiting longer you will receive better and better offers in the mail with longer 0% and lower APR from time to time.

Your AAOA is really low....you may benefit from waiting until it goes up more.

Existentialist · ‎08-27-2015

Very good advice herein. Good luck going forward.

Anonymous · ‎08-27-2015

Well... I was wrong. I was using a calculator online, and, I guess I typed something incorrectly. My AAOA is actually 1year, 1 month

Anonymous · ‎08-27-2015

Curious though, is it true that under the "CARD ACT of 2010" individuals under the age of 21, aren't allowed to receive pre-approved offers?

I ask because... I actually have, received three letters from Citi saying I'm "Pre-Selected to apply" but... I think there worthless, because they don't give a deffentive APR, and the online system, doesn't say I have any preapproved offers.

With that said... I've been "Opting In" almost every single month, for the last year or so. I kinda wonder if that thing even works. But I'd be curious though, if you guys knew of anyone under 21 getting pre-approved offers. I'd like to get ones that say "Pre-Approved" instead of "Pre-Selected".