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Go or no go

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ZSR
Member

Go or no go

My FICO scores all are in the 650 range. Is it worth it to apply for the IHG premier cc so I can possibly get the 125k bonus points, or should I wait to improve my score more? I was also considering the Apple Card since it recently came out. Any advice on pulling the trigger or waiting?
Message 1 of 10
9 REPLIES 9
Jnbmom
Credit Mentor

Re: Go or no go


@ZSR wrote:
My FICO scores all are in the 650 range. Is it worth it to apply for the IHG premier cc so I can possibly get the 125k bonus points, or should I wait to improve my score more? I was also considering the Apple Card since it recently came out. Any advice on pulling the trigger or waiting?

We need more info. How does your credit file look, any baddies or bk? AAoA and what cards do you currently have?

EXP 780 EQ 796 TU 810
Message 2 of 10
ZSR
Member

Re: Go or no go

No BK, 3.5 aoa. Oldest is 8yr. I have a Barclay cc with $3,300. Cap one Quicksilver $2.5k. NFCU rewards cc $5k. Military Star cc $4200. Preferred CU cc $500. No mortgage. 2 vehicles financed.
Message 3 of 10
AllZero
Mega Contributor

Re: Go or no go

I would recommend waiting and work on what is suppressing your score. It'll give you a better chance at higher starting limit and favorable APR if it matters.

Good thing about Apple, it'll be a soft pull and you can decline the offer if the terms are not favorable.
Message 4 of 10
Jnbmom
Credit Mentor

Re: Go or no go


@ZSR wrote:
No BK, 3.5 aoa. Oldest is 8yr. I have a Barclay cc with $3,300. Cap one Quicksilver $2.5k. NFCU rewards cc $5k. Military Star cc $4200. Preferred CU cc $500. No mortgage. 2 vehicles financed.

SO there are no negatives?? Just curious 650 seems a little lower for the above profile. Also I should have asked are these FICO scores?

EXP 780 EQ 796 TU 810
Message 5 of 10
Meanmchine
Super Contributor

Re: Go or no go

IHG card is Chase 5/24 rule. If you are over 4 new accounts last 24 months, it will be an auto denial

>3/2016 EX 644 CK-TU 642 CK-EQ 660 WalMart- 671.
>8/2024 All 3 reports 835ish (F8) F9s = 850 but my app finger is still twitching
Message 6 of 10
ZSR
Member

Re: Go or no go

I have had some life events which caused me to have to use about 70% of the open credit line amongst the cards. Still working on paying that down. Figured if I were to get approved for another card it would help in reducing that 70%.
Message 7 of 10
Anonymous
Not applicable

Re: Go or no go

Pay things down under 8.9% and your score should easily be over 700 and approval odds will rise.  

 

The key to new credit is picking it up when you don't need it.  If you want to roll the dice then hit up your lenders for CLI's on the existing cards to adjust the UTIL %'s that is keeping your score down. 

 

Also, you can get a free FICO monlhly from www.experian.com and to get all 3 you can sign up for a trial for $1 and cancel it after you have your scores.  

Message 8 of 10
Anonymous
Not applicable

Re: Go or no go

Definitely look at lowering your utilization, that will help in your chances. As others have mentioned, monitor your credit to see what things you can do to help improve your profile.

Message 9 of 10
CreditInspired
Community Leader
Super Contributor

Re: Go or no go


@ZSR wrote:
My FICO scores all are in the 650 range. Is it worth it to apply for the IHG premier cc so I can possibly get the 125k bonus points, or should I wait to improve my score more? I was also considering the Apple Card since it recently came out. Any advice on pulling the trigger or waiting?

Hi there and welcome

 

Of course we need more information before we can say "yay nor nay" on the IHG premier CC.

 

However, since it is a SP on the Apple card to find out whether you would be approved or not approved, and to know your limit and APR before accepting, to me this would be the best way to go. 

 

And this will also give you a teeny idea of where you stand creditwise.

 

GL2U


|| AmX Cash Magnet $40.5K || NFCU CashRewards $30K || Discover IT $24.7K || Macys $24.2K || NFCU CLOC $15K || NFCU Platinum $15K || CitiCostco $12.7K || Chase FU $12.7K || Apple Card $7K || BOA CashRewards $6K
Message 10 of 10
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