Debt Questions when applying for new credit cards

[Anonymous]

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@Jordan23ww wrote:

Is it possible for you to just delay applying for the new card until after next month when the maxed out card reports again with lower utilization?  That way you present your best credit self! I do know sometimes it's hard to be patient. It could be worth it though. 

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It is possible, an I am patient. On this I was really hoping to close out so that I will not need to apply again. This card does not report until about this time n ext month well into the shopping season. So I was really  hoping to get it done before then and shut it down for two years. But if I must wait, then I must wait. My other scores EQ and TU will only go up about 2-5 points when I pay this down. I am rarely any different score.

[Flfico]

Another factor lenders will look at in addition to the dip in scores due to increased utilization is increased DTI. Some lenders are more sensitive to this than others.

[OmarGB9]

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@Anonymous wrote:

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@OmarGB9 wrote:

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@Anonymous wrote:

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@OmarGB9 wrote:

You may raise an eyebrow or 2 with ONE maxed out card but still only 15% utilization overall, however it shouldn't lead to any AA from lenders. That said, your scores are still a bit low. Is that where they usually are? Or is that where they dropped to because of the maxed out card?

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Thanks for the response. I am typically about 10 points higher of the fico 8 for TU & EQ. Fico 9 rally does not ajust much other than my TU. TU for fico 9 goes up and down some months 30 points higher but this month pretty low.

My scores did not change suprisingly from the maxed out card. they dropped two months ago from paying of a 5yr old C/O that for some reason now reports as a C/O slash collection. However my EX went from a 668 to a 680 when I maxed out the card. Very strange huh?

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That is strange, but I definitely don't think maxing out a card would *increase* your score. That was due to something else that just happened to coincide with the maxed out card.

Anyway, as far as what cards you qualify for, it really depends what you're looking for first and foremost.

I am looking for non subprime majors. I would hope for a reward but it is not a must. I already have some decent cards.

NFCU x2

Amex

Discover

local CU visa

and one secure card visa.

Just do not know where to go from here. I was going to try for Costco Visa or Amazon Visa.

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There has been nothing that has changed on my credit report for almost three months. The only change was my cc balance going from 50 dollars to over 6k. Then strangely the score increase. Literally everything else was the same and all of my other balances remained at zero as normal.

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Not all changes are immediately noticeable. It could be one of those unperceived changes. (i.e. youngest account hitting 1 year old, average age of accounts hitting 1 year, etc.). There are no alerts for those types of events, but they yield points because of the way the FICO algorithm works.

[Anonymous]

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@OmarGB9 wrote:

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@Anonymous wrote:

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@OmarGB9 wrote:

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@Anonymous wrote:

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@OmarGB9 wrote:

You may raise an eyebrow or 2 with ONE maxed out card but still only 15% utilization overall, however it shouldn't lead to any AA from lenders. That said, your scores are still a bit low. Is that where they usually are? Or is that where they dropped to because of the maxed out card?

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Thanks for the response. I am typically about 10 points higher of the fico 8 for TU & EQ. Fico 9 rally does not ajust much other than my TU. TU for fico 9 goes up and down some months 30 points higher but this month pretty low.

My scores did not change suprisingly from the maxed out card. they dropped two months ago from paying of a 5yr old C/O that for some reason now reports as a C/O slash collection. However my EX went from a 668 to a 680 when I maxed out the card. Very strange huh?

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That is strange, but I definitely don't think maxing out a card would *increase* your score. That was due to something else that just happened to coincide with the maxed out card.

Anyway, as far as what cards you qualify for, it really depends what you're looking for first and foremost.

I am looking for non subprime majors. I would hope for a reward but it is not a must. I already have some decent cards.

NFCU x2

Amex

Discover

local CU visa

and one secure card visa.

Just do not know where to go from here. I was going to try for Costco Visa or Amazon Visa.

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There has been nothing that has changed on my credit report for almost three months. The only change was my cc balance going from 50 dollars to over 6k. Then strangely the score increase. Literally everything else was the same and all of my other balances remained at zero as normal.

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Not all changes are immediately noticeable. It could be one of those unperceived changes. (i.e. youngest account hitting 1 year old, average age of accounts hitting 1 year, etc.). There are no alerts for those types of events, but they yield points because of the way the FICO algorithm works.

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Thanks for the imput, none of my accounts hit any milestones at all in the last four months. I received the bump for my oldest active card hit 1 year four months ago. I received a 3 point icrease out of no where on the 1th month for that card.

I am just hoping someone can tell me where they applied at with scores similar to this and were approved for a card. I am trying to close out my year and garden. I might hit the road hear shortly and will not have the chance again and I like all my credit pulls to be close so that in two years I can app spree at the big banks like chase, usbank, and boa. maybe city. Thanks for all of your help.

[FinStar]

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@Anonymous wrote:

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I am looking for non subprime majors. I would hope for a reward but it is not a must. I already have some decent cards.

NFCU x2

Amex

Discover

local CU visa

and one secure card visa.

Just do not know where to go from here. I was going to try for Costco Visa or Amazon Visa.

There has been nothing that has changed on my credit report for almost three months. The only change was my cc balance going from 50 dollars to over 6k. Then strangely the score increase. Literally everything else was the same and all of my other balances remained at zero as normal.

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Based on what you've shared (opened accounts + inquiries in the past 12 months + 2 negatives), the 2 particular choices will likely not yield fruit. For one, if you've opened more than 5 accounts in the past 24 months, Chase will be a no-go for any cards. Citi Costco will likely have similar results, but more so given your recent new accounts and inquiries.