Possible app spree?

[mysterythemoon]

I've had a major update in my credit health. Even though the rebuild started only in July at 400s FAKO, I think I just got my last baddies off. Assuming I did, I'll just have my two secured CCs and my debt util of 3%. AAoA 4 mos and I'm guessing my FICO scores will be hovering somewhere in the 680-700 range. Assuming my Disco will auto unsecure in Feb or March. I know my Cap 1 won't. Still grateful for the part it played and plays. And I know I'll be eligible to apply for one of their products after my sixth statement. Also just joined NFCU, althogh obviously haven't applied for any products yet. Ok, so what should my strategy be? I'd like to get in with AmEx (who wouldn't?). Maybe with Chase, too. I want to be able to garden with some decent crops here. I know some companies are more app sensitive than others. I know some have limits on how many approvals you've had in the last 24 months. So I think the order I apply is all the difference. What options is there for a high 600-low 700/4 mo. AAoA guy like me?

[mysterythemoon]

Middle of the night update. My updated FICO scores. That final baddie (Kohl's) has indeed been fixed, and it rasied my EX FICO 90 plus points to 747, oldest account 12 years, AAoA 4.2. My TU is 642, oldest account 3.1, AAoA 1.4 (there are two small baddies that I PFD'd last week. They clearly haven't updated yet). My EQ is 613 oldest account 3.1, AAoA 1.8 (no Kohl's update yet). Also another wrinkle. My EX is so high becasue a CC i got when I was 18 (a BofA card that was actually pretty shady, but that's for another day) is still reporting. I closed it in 2004, but for some reason they reported I made a payment in March 2009. All it says is a green OK in that month. Clearly an error, but totally in my favor. So it's aging my EX score like crazy. So that's where I stand now. My same quesions still apply. Any help would be awesome!

[Anonymous]

I'm very conservative when it comes to "spree" recommendations.  My opinion is that unless all of your scores are 720+ that you shouldn't spree... and also not if you've opened a bunch of accounts within the last 2 years and/or plan on opening several in the next year or two.  Others will have different opinions on this, of course.

[805orbust]

Totally agree with Brutal here. However, if your scores are all gonna be in that range, adding 2-3 cards won't kill them. With a number like that you're pretty much guaranteed approval with AMEX, Chase, etc. SL may perhaps be on the low side however.  If it were me I'd app first with NFCU.  Theyll give you a nice limit, and then go from there. Chase would probably be next as you don't wanna mess with 5/24.  All my own opinion though, first and foremost you want to get what will work for you.

[Anonymous]

At this point, I say carefully shop for a card you really want and apply for it, then wait 6 months and shop for another or just grow what you have. My list for the next 2 years is Capital One cash rewards and getting my discover unsecured. My long term goal is the Delta AmEx Card but thats 10 years out since i have BK.

[mysterythemoon]

My goal now is to use my inquiries wisely. That's why I'm asking. I'd like to pick up three cards since my Cap1 card will never unsecure, so that will be closing soon. That will leave me with four total. I want to get into Chase. Are they the most app and recent card sensitive? More than AmEx? I think the three I want is Chase, AmEx and NFCU. The initial CL is irrelivant to me. Those are just the companies I'd like to get in with and start to grow with (along with my Disco with shoud unsecure in the next few months). I guess what I'm asking is what order I shoud apply so that I can get in with all three and then garden like mad?

[austinguy907]

What's that about Cap1?

http://ficoforums.myfico.com/t5/Credit-Cards/NEWSFLASH-Capital-One-Secured-MC-graduation-possible/m-...

Just take a deep breath Mystery and find your center for a moment.  There's plenty of options and it's not a life or death scenario picking some CCC's to deal with.  Also, there's not a deadline for it to happen either.  It's good to see you thinking about your future through the process of inquiries though.  Just spend some time using the search box on here and you shall find plenty of information.  Become a Fico'r!!!

[mysterythemoon]

Ok well this is very new news. The common knowledge is that Cap1 would never unsecure. I think almost everyone on this board would be shocked to hear this.

In terms of a deadline, I know I don't have one, technically. But with the oddness of having a card that I opened in 2003, and closed in 2004 STILL reporting on my EX and making my score and AAoA far better than it should be at this point, I figure I might as well use it. There's no telling when that account will fall off. It shouldn't be there to begin with.

[austinguy907]

There are quirks like that sometimes.  I'm sure I've gained some points from a similar situation and don't mind the extra points as long as it doesn't actually go active w/o me noticing it.  Just something to keep an eye on for any activity other than positive reporting.

[mysterythemoon]

Which is why I'm intent on appliying for a few cards sooner rather than later. If that slips off my account it will take me man many years to get that AAoA back. Rather strike while the iron is hot.