@observantstudent wrote:I am looking to apply to the fidelity 2% card as I am looking for a 2% card with no AF and no FTF.
I want to know my chances of getting a decent credit limit given my recent inquiries.Credit Score: 774
Oldest Account: 3 Years
AAoA: 1 year 7 monthsYoungest Accounts: 4 and 5 months old
Total Credit Limit: ~16000 @ 5 credit cards
Hard Inquries: 2 Experian (the two new accounts in past 24 months) and 0 Transunion (where Elan will pull from)
Is it fine to apply now? Could I expect a decent credit limit (over 10k?) with this profile?
Welcome to My Fico Forums, @observantstudent. 
I recommend that you wait based on the following observations.
- Your credit file is just beginning to develop at three years old. That means you should plod more carefully as you may not be able to get away with what a more seasoned credit profile could accomplish.
- You acquired (at least) 2 of your 5 accounts in past 12 months since newest are 4 and 5 months old. That means that for "new personal accounts," you are 2/6; 2/12 at a bare minimum but possibly higher.
- As a subsidiary of US Bank, Elan Financial is known to be somewhat conservative in underwriting although probably not as strict as US Bank itself. That said, while some members with thicker and deeper files might be able to get an approval with 2/6 and 2/12, I wouldn't push it with your situation.
- Your average credit limit is $3,200. ($16,000/5.) You don't disclose your highest limits. However, I would guess that the average profile of that nature probably has a high limit of $5K to $8K, meaning a $10K approval much less higher would probably be a bit of a stretch. Among other factors, lenders tend to award limits generally in-line with the limits you've shown you can manage successfully. The limits would also be tempered by your credit age and number of new accounts. So even if you were approved, you could be looking at a credit limit somewhere between $500 and $3,000.
Inquiries and credit score are good. Continue to use and pay your cards in full monthly. Keep revolving utilization under 8% (but don't carry a balance do it.) Allow that file to season and garden until you are at least 0/12 for new personal accounts. At that point, you've got a much better chance of success and also getting a better starting limit.
@observantstudent wrote:I am looking to apply to the fidelity 2% card as I am looking for a 2% card with no AF and no FTF.
I want to know my chances of getting a decent credit limit given my recent inquiries.Credit Score: 774
Oldest Account: 3 Years
AAoA: 1 year 7 monthsYoungest Accounts: 4 and 5 months old
Total Credit Limit: ~16000 @ 5 credit cards
Hard Inquries: 2 Experian (the two new accounts in past 24 months) and 0 Transunion (where Elan will pull from)
Is it fine to apply now? Could I expect a decent credit limit (over 10k?) with this profile?
Another option is the AVEN Visa, 3% CB first 10k per year, 2% unlimited after, no AF or FTF. Is only a soft pull unless approved, so no risk to apply. If approved it's a HP to Experian. Most are getting a 15k SL to start, seen as low as 5k. A $100 SUB with reference, no spend required. See the AVEN thread for more details. Aven Rewards Visa 3% cash back ongoing review
Citi:
US Bank:
Chase:
Aven:
RH:
@observantstudent wrote:I am looking to apply to the fidelity 2% card as I am looking for a 2% card with no AF and no FTF.
I want to know my chances of getting a decent credit limit given my recent inquiries.Credit Score: 774
Oldest Account: 3 Years
AAoA: 1 year 7 monthsYoungest Accounts: 4 and 5 months old
Total Credit Limit: ~16000 @ 5 credit cards
Hard Inquries: 2 Experian (the two new accounts in past 24 months) and 0 Transunion (where Elan will pull from)
Is it fine to apply now? Could I expect a decent credit limit (over 10k?) with this profile?
Well, it's an Elan card, so they are new account and inquiry sensitive. There is a small SUB if you use this visa-signature-rewards-1502 I think your 2 new cards in less than 6 months might be an issue. My wife and I waited until we were 0/12 for both new and inq before we applied. My wife had a much better profile than you and only got a $2k starting credit limit. I got a $21.2k starting limit, but my profile was much older.
