Fidelity Visa 2% CC Approval Odds

[pace_it]

Good afternoon!

I've had my eye on Fidelity's 2% Visa card and am wondering if it's still too soon to attempt an application. I'm hoping the gurus here can advise one way or another. I'm on a debt reduction journey and sitting currently with the following stats:

EXP 734

TU 739*

EQ ? (should be similar)

3 CC's & 1 auto loan:

26% utilization

Income: $108K

AAoA: 3 years 9 months

Oldest: 6 years 3 months

1 inquiry (9 months old)

DTI: 13%

*TU score pending update tomorrow (it should increase slightly due to reduced balance)

I also have 3 accounts with Fidelity: the oldest dating back to 2016. They've been sending me pre-approval offers since mid-summer, so I'm hoping my odds are better.

Thanks in advance!

[coldfusion]

The only concern would be the 26% utilization across your cards.  If you could knock that down and wait until it reported it could help.

Don't count on assets at Fidelity influencing the underwriter.

[pace_it]

Thanks for the response! Getting that utilization down is my main priority.

My updated balances were reported as of today and now reflect the following scores:

EX: hasn't updated

TU: 763

EQ: 756

So I decided to take the risk and applied: if approved, excellent. If declined, well time to go back to the garden for another year.

Fortunately, Elan Bank came back with an offer for a $20K CL (slightly below my highest card) and the typical rates. I'm going to hold off on celebrating until they've verified everything and notified me. But it's exciting to see the potential.