Musing, should I app onece more?

[BallBounces]

Just musing, mostly, but wanted to float an idea for opinions:

Current revolvers and some notes: 

• CreditOne  0/750  which I took on as a 2015 rebuilder.  Very very likely to be closed on anniversary in May.
• Amazon Store 0/1300.  2015 rebuilder. Great for my UTIL right now.  I have tried for a CLI and was rebuffed.  This card has little use for me but I have no plans of discarding it. Middle term retention, unless i get CLIs and will keep it as long as it keeps pace.
• Cap1 QS1 1000/3500.  Still on 0 APR and is my current daily user. 2015 long term retention/growth card.
• Local CU via Elan 1500/2000.  0 APR and paying down a large purchase.  2015 and mid term card.  (I will keep the card as long as it's CL keeps up.  Not sure if it will.)
• Citi DP. 0/500.  The thorn in my side.  8 year old trade line. my oldest ACTIVE tradeline.  I think they took AA several years ago which is where the 500 CL comes in.  I have many attempts in for CLI in the last year, all fail.  Long term card because of the age, and they better grant a CLI at some point. Good grief, citi.

I probably have a 2 or 3 months window if I am going to apply for any more cards.  After that I will likely want to shut it down for year in advance mortgage prep.

I am also concerned about AAoA (currently ~7 years) given all the new cards and some old closed tradelines that will drop in the next 24 months.
I'd like to have a 4-5 more thousand in credit in the near term.  CLIs are dried up.
My scores are (Fico8 and fico8 bankcard) from 650-690.  Prior models are20-30 points lower.
I do have negatives on the reports, despite the fair/good scores.

Should I target one more app?  I am thinking another Cap1.  Maybe Barclays.  Chase is OUT.   Thoughts? 

[elim]

I wouldnt apply with 75% utilization reporting on a card.   Wait until you report <10% on 1 card.

[BallBounces]

good point.

But i will not be waiting till under 10.  No need to over pay my 0 APRs.    The scores i loisted reflect the "43% current" UTI I have.  If I wait a month, UTI will be something like 34%.  i would not expect a score change.  Might go under 30% in 2 months.

[BallBounces]

Happened to log in to synch/Amazon and see my CLI went from 1300 to 1900.  Don't recall asking for CLI but I must have.  0/1900 helps the UIT.  Probably enough to make me wait a month (new statements) before considering any application.

[BallBounces]

/thread.

I decided to apply for another QS1 and was approved with 3000.

[SouthJamaica]

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@BallBounces wrote:

Just musing, mostly, but wanted to float an idea for opinions:

Current revolvers and some notes: 

• CreditOne  0/750  which I took on as a 2015 rebuilder.  Very very likely to be closed on anniversary in May.
• Amazon Store 0/1300.  2015 rebuilder. Great for my UTIL right now.  I have tried for a CLI and was rebuffed.  This card has little use for me but I have no plans of discarding it. Middle term retention, unless i get CLIs and will keep it as long as it keeps pace.
• Cap1 QS1 1000/3500.  Still on 0 APR and is my current daily user. 2015 long term retention/growth card.
• Local CU via Elan 1500/2000.  0 APR and paying down a large purchase.  2015 and mid term card.  (I will keep the card as long as it's CL keeps up.  Not sure if it will.)
• Citi DP. 0/500.  The thorn in my side.  8 year old trade line. my oldest ACTIVE tradeline.  I think they took AA several years ago which is where the 500 CL comes in.  I have many attempts in for CLI in the last year, all fail.  Long term card because of the age, and they better grant a CLI at some point. Good grief, citi.

I probably have a 2 or 3 months window if I am going to apply for any more cards.  After that I will likely want to shut it down for year in advance mortgage prep.

I am also concerned about AAoA (currently ~7 years) given all the new cards and some old closed tradelines that will drop in the next 24 months.
I'd like to have a 4-5 more thousand in credit in the near term.  CLIs are dried up.
My scores are (Fico8 and fico8 bankcard) from 650-690.  Prior models are20-30 points lower.
I do have negatives on the reports, despite the fair/good scores.

Should I target one more app?  I am thinking another Cap1.  Maybe Barclays.  Chase is OUT.   Thoughts? 

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Here's what I would do:

1. Never again apply for the Citi CLI until it no longer says "By clicking "Continue" you understand that we will obtain a credit bureau report to evaluate your request."; otherwise, they are all hard pulls, and killing you.

2. I'd say apply for the Barclay Rewards card. Then, win, lose, or draw, go ahead with your plan to garden for a year.

[SouthJamaica]

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@BallBounces wrote:

/thread.

I decided to apply for another QS1 and was approved with 3000.

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Congratulations. Gotta love Capital One.

[elim]

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@BallBounces wrote:

/thread.

I decided to apply for another QS1 and was approved with 3000.

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   told ya   :]

  Many 10k approvals on that card lately.  Best to get your utilization down (which brings scores up) and apply after planning.

  congrats though

[DaveInAZ]

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@BallBounces wrote:

good point.

But i will not be waiting till under 10.  No need to over pay my 0 APRs.    The scores i loisted reflect the "43% current" UTI I have.  If I wait a month, UTI will be something like 34%.  i would not expect a score change.  Might go under 30% in 2 months.

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@Anonymous yeah. 0% APRs are great, but there is a need to "over pay", aka pay them down. I app'd & was approved for a Barclays NFL card in March, I got it only for the 15 mo. 0% BT, to pay off a Prosper loan @ 11%. I consider it a pretty smart financial move - I could easily pay off the BT in the 15 months @ 0% instead of the 2 years remaining on the Prosper loan, plus save hundreds in interest expense. But my utilization on that card went to 65% and my CK Fako scores tanked 20 pts, Fico -8 pts. I got it down to 22% in Dec, my scores fully recovered, and Barclays gave me a $1k auto CLI to boot.

So, paying down those 0% APRs will boost your scores, opening up more credit options for you. And with the Fed Reserve raising interest rates I don't expect those 0% APR offers to last much longer.

[elim]

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@DaveInAZ wrote:

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@BallBounces wrote:

good point.

But i will not be waiting till under 10.  No need to over pay my 0 APRs.    The scores i loisted reflect the "43% current" UTI I have.  If I wait a month, UTI will be something like 34%.  i would not expect a score change.  Might go under 30% in 2 months.

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@Anonymous yeah. 0% APRs are great, but there is a need to "over pay", aka pay them down. I app'd & was approved for a Barclays NFL card in March, I got it only for the 15 mo. 0% BT, to pay off a Prosper loan @ 11%. I consider it a pretty smart financial move - I could easily pay off the BT in the 15 months @ 0% instead of the 2 years remaining on the Prosper loan, plus save hundreds in interest expense. But my utilization on that card went to 65% and my CK Fako scores tanked 20 pts, Fico -8 pts. I got it down to 22% in Dec, my scores fully recovered, and Barclays gave me a $1k auto CLI to boot.

So, paying down those 0% APRs will boost your scores, opening up more credit options for you. And with the Fed Reserve raising interest rates I don't expect those 0% APR offers to last much longer.

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@  If you float over the QS card in Daves signature, you will see a 10k limit QS at 12.9% APR.  That' definitely a reason for preparing for apps.  My last prep and app for CapOne was a big Venture @ 12.9% APR with  675 EQ.  Lenders love to hand it over when your reports show you don't need it.    :]