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How soon is too soon to apply again?

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Re: How soon is too soon to apply again?


@Bbcatcher wrote:

@Hut1 wrote:

@joltdude wrote:

Also Chase does not usually entertain APR reductions, as well as CLIs are usually a hard pull.. theres a rare occurance of auto CLI without the HP but thats about it.. My cards from Chase are both the same limits they were issued at.. and havent moved at all.. 


Any providers you suggest?


I think before you apply for any other cc, you need to decide what you will use it for. There are pros and cons with every lender, but you will need to see what your spend patterns are in order to see which card makes the most sense for you. For example, I have a card that earns 5% on gas purchases. When looking at other cards, there aren't any that beat this; so, it is not logical for me to search out a card that has this as their main reward category. 

 

Generally, the cards that you frequently see large CLIs and on SPs (soft pulls) on is from Amex and Discover. Both have their perks, both have their faults. As I said, you will want to see your spend patterns and see if your current cards miss a category that you have frequent/high spend levels in. The quicksilver is nice because it is a catch-all 1.5% cashback, whereas your NFCU card gets you 3x on restaurants, 2x on gas, and 1x on everything. In your case, if you are charging anything aside from gas or dining out, your QS will make more sense (1.5x vs 1x).

 

Hope this helps 


Yes! This is the general idea I had when I applied for the 2nd CC. I work from home, so I don't get out much. The Navy Go covers my eating out habits and I use the member deals for my occassional online shopping needs for the extra points. I went after the QS for 1.5% CB on everything, so my logic was - use my Navy Go for online shopping/eating out and general buying and use my QS to pay my bills for the CB. I honestly think I should get a low APR card for any big purchase that I need to carry a balance on. I don't have anything in mind, but it would be nice to have. USAA has their Rate Advantage Visa Platinum with a 8.9% - 25.9% APR range, but I know I'll need phenomenal credit to get the lower rates, so I guess that means garden and focus on getting my student loan % paid down. I'm thinking 2 years would give me adequate time, no?


FICO8 as of 09/2019
Message 31 of 34
Valued Contributor

Re: How soon is too soon to apply again?

In the case of what you mention, wanting a low APR for a big balance, I’d wait and garden until you are near the time you need to make that purchase. It’ll allow you to age and season your file longer, and then as the time draws near for that big expenditure, app for a card with a 12-15 month 0% APR and put the purchase on that card.


Rose Gold | BCP | Delta Gold | Hilton Surpass | Hilton Honors | IT Cash | IT Chrome | Quicksilver | Target | VS | Home Depot | Lowes | Firestone | Wayfair | Kohl’s

5/24, 1/24, 76445/24, who cares #HappyWithAmex





Entering the garden 5/27/2019, staying until 2020




Message 32 of 34
Established Member

Re: How soon is too soon to apply again?


@ImTheDevil wrote:
In the case of what you mention, wanting a low APR for a big balance, I’d wait and garden until you are near the time you need to make that purchase. It’ll allow you to age and season your file longer, and then as the time draws near for that big expenditure, app for a card with a 12-15 month 0% APR and put the purchase on that card.

I suppose that's true as well. I have that promo running with both of my CC's now. I went through a large custody battle that racked up a $15K attorney bill about 4 years ago. Since I didn't have any CC's, we put it on my hubs card and are still trying to pay it down due to the astronomical interest rate. In my head, it would've been nice to have a card with a lower APR where we could pay it down quicker. It's almost $207 in interest we pay each month. Blah.. just the thought of it makes me cringe.


FICO8 as of 09/2019
Message 33 of 34
Frequent Contributor

Re: How soon is too soon to apply again?

Navy offers a Platinum 0% APR, $0 balance transfer fee for 12 months. Make sure you research the terms so you won't incurr interest if you can't pay within the alotted time.

Depending on ones credit worthiness, the 2nd Navy card usually comes with a healthy credit line.
Message 34 of 34
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