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Need advice on application timing

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Moderator

Need advice on application timing

My scores recently took a big jump to the point where I think I'm in the range for approvals on the last two cards I want ( for now), CSP and Amex PRG. The two issues I'm concerned about are 1) I've only had the Freedom for month and half.  Have used the card quite a bit and just paid it down to $0 balance and 2) The highest CL for cards reporting right now is my Cap One card  at $10 K.  My NFCU  at $25 K should (hopefully) start reporting soon.

 

Should I wait to my NFCU to start reporting and do you think Chase will want more history before approving me for the CSP?  Additionally I've checked the pre approvals for both.  At Chase I get a message about having recently taking an offer (Freedom) and nothing at AMEX

Message 1 of 7
6 REPLIES 6
Super Contributor

Re: Need advice on application timing


@Irish80 wrote:

My scores recently took a big jump to the point where I think I'm in the range for approvals on the last two cards I want ( for now), CSP and Amex PRG. The two issues I'm concerned about are 1) I've only had the Freedom for month and half.  Have used the card quite a bit and just paid it down to $0 balance and 2) The highest CL for cards reporting right now is my Cap One card  at $10 K.  My NFCU  at $25 K should (hopefully) start reporting soon.

 

Should I wait to my NFCU to start reporting and do you think Chase will want more history before approving me for the CSP?  Additionally I've checked the pre approvals for both.  At Chase I get a message about having recently taking an offer (Freedom) and nothing at AMEX


I'd just apply for them. What have you got to lose, a couple EX pulls?

EX FICO  16 INQ  791
EQ FICO  10 INQ  786
TU FICO  12 INQ  790
Total CL$477,00038 TL
Message 2 of 7
Moderator

Re: Need advice on application timing


@Nixon wrote:

@Irish80 wrote:

My scores recently took a big jump to the point where I think I'm in the range for approvals on the last two cards I want ( for now), CSP and Amex PRG. The two issues I'm concerned about are 1) I've only had the Freedom for month and half.  Have used the card quite a bit and just paid it down to $0 balance and 2) The highest CL for cards reporting right now is my Cap One card  at $10 K.  My NFCU  at $25 K should (hopefully) start reporting soon.

 

Should I wait to my NFCU to start reporting and do you think Chase will want more history before approving me for the CSP?  Additionally I've checked the pre approvals for both.  At Chase I get a message about having recently taking an offer (Freedom) and nothing at AMEX


I'd just apply for them. What have you got to lose, a couple EX pulls?


Last time (4 months ago) Chase double pulled me for the CSP, EQ and EX.  For the Freedom it was only Ex.  Guess I'll go for it. 

Message 3 of 7
Epic Contributor

Re: Need advice on application timing


@Irish80 wrote:

My scores recently took a big jump to the point where I think I'm in the range for approvals on the last two cards I want ( for now), CSP and Amex PRG. The two issues I'm concerned about are 1) I've only had the Freedom for month and half.  Have used the card quite a bit and just paid it down to $0 balance and 2) The highest CL for cards reporting right now is my Cap One card  at $10 K.  My NFCU  at $25 K should (hopefully) start reporting soon.

 

Should I wait to my NFCU to start reporting and do you think Chase will want more history before approving me for the CSP?  Additionally I've checked the pre approvals for both.  At Chase I get a message about having recently taking an offer (Freedom) and nothing at AMEX


PRG is easier then most of the cards you have!

I applied for my 3 chase cards 1 month apart.

Message 4 of 7
New Contributor

Re: Need advice on application timing

In my personal experience, lenders haven't seemed to pay much attention to what my other limits are. I applied for one card before the new limit on my other card had started reporting and still got a higher starting limit on the new card. Also, no one has come close to matching my Amex BCP limit of $14,400 (or even my Citi Forward limit of $8,100, for that matter). They seem to care much more about income, DTI, new accounts, etc. But that's just me! YMMV as always.

Message 5 of 7
Regular Contributor

Re: Need advice on application timing

I would wait!!! It helps to recon/ask for higher initial CL when you have higher lines. This JUST happened to me with Barclays and Nasa, talked to credit analysts at both places and both said they wouldn't start me out higher because what they gave me was pretty comparable to my highest line.

At the time, my navy was 10k. I had just got CLI to 20k but it hadn't reported when I applied.

Barclays gave me 10k and nasa 15k, citing the navy 10k as being the reason they couldn't go higher.

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Message 6 of 7
Moderator

Re: Need advice on application timing


@xtdefy wrote:

I would wait!!! It helps to recon/ask for higher initial CL when you have higher lines. This JUST happened to me with Barclays and Nasa, talked to credit analysts at both places and both said they wouldn't start me out higher because what they gave me was pretty comparable to my highest line.

At the time, my navy was 10k. I had just got CLI to 20k but it hadn't reported when I applied.

Barclays gave me 10k and nasa 15k, citing the navy 10k as being the reason they couldn't go higher.


Hmm.  That's exactly my concern about what might happen.

Message 7 of 7
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