Four CC Applications: Advice on Sequence & Timing?

LegalTender · ‎12-23-2019

Seven years ago I had several CC defaults. My CRs show no negative trade lines and all my FICO scores are 800+/-.

I currently have only one CC, Discover $1k CL which I've had a couple decades (about a week ago I got an online CLI from $500 to $1k).

Now that my credit repair is complete I want to improve/increase/fine tune my credit. The next goal is additional no fee cards and diversity (I have no Visa) for a higher CL. I'm accustomed to PIF each month and my monthly charges are usually under $50 so lower interest rates although nice, isn't primary. A generous sign-up bonus would be nice ... if it's offered for low spending threshold.

Forum members have suggested I consider applying for one or more of the following:

1) PayPal MasterCard by Synchrony Bank

2) Chase Freedom Unlimited

3) Capital One Quicksilver

4) Another Discover Card (my current Discover card's CL was reduced from $11+k to $500 in 2012 when my credit tanked, so the advice was to apply for another card that would be based on my current CRs).

Which of the above is generally reputed to have easiest approval process?

I don't want to get nailed by excessive hard pulls (and especially rejections). I'm not sure in what sequence I should apply for those cards, how long a time interval I should wait between new applications - particularly considering whether I'm approved or rejected by an application.

Any suggestions on application strategy, sequence, and timing ... or other concerns?

PS: can someone define an 'app spree' to me or point me to a good resource? Does it relate at all to where I'm at?

LegalTender · ‎12-23-2019

I'm improving my cc portfolio after a credit repair. I now have FICO scores of 800+/- but only one CC (Discover $1k CL).

Wells Fargo is one of the popular banks and I have no negative history with them so they're on my list of possible banks to apply to for a CC.

I'd be looking for a no fee card with a workable CL ($2k+ to start).

I'm curious to hear of feedback about them esp. regarding the ease of application/approval.

Thanks a bunch for any input or suggestions.

FinStar · ‎12-23-2019

How long have you had the Discover card? Is that the only open tradeline on your CRs? Any present negative items on any of them?

LegalTender · ‎12-23-2019

Moderator FinStar: it appears as if my separate Wells Fargo inquiry get combined into this thread? I'd wanted to keep it a seperate thread so have it visible to attract those with Wells Fargo experience (which doesn't seem to be all that common as compared to other banks).

Is it at all possible to restore the inquiry to a seperate thread?

Thanks.

LegalTender · ‎12-23-2019

@FinStar wrote:
How long have you had the Discover card? Is that the only open tradeline on your CRs? Any present negative items on any of them?

I've had the Discover card about 20 years and yes it's the only open tradeline on all my CRs. I have a sterling history with Discover and never had a late payment for the entire 20 history of the account. I have no negative items on any of my CRs.

Due to an emergency in 2012 I had 6 defaults. Prior to that I had an $11k+ CL with Discover; after that they kept my account open but decreased the CL to $500, where it's been ever since. All negative tradelines were removed in August 2019 (via early exclusion requests) and thus my credit repair complete.

About a week ago I began my first efforts going forward: I requested an online CLI with Discover and they approved it increasing it to $1k. I've made no other credit card application(s) or increase requests since prior to the defaults in 2012; in the past 7 years I've typically charged less than $50/mth and always PIF every month.

FinStar · ‎12-23-2019

The threads were combined so as to provide seamless feedback from the community based on your intended application spree for all the cards you listed.

I welcome you to use the search feature for any WF threads that may be unique to your situation. Otherwise, if not already done so on your previous thread https://ficoforums.myfico.com/t5/Credit-Cards/Credit-Rebuild-Complete-amp-Debt-Free-Advice-for-Next-..., then plenty of members should be able to provide you their experiences for the intended products.