Pre Qualified, Apply for Freedom now or wait??

[Godoi25]

My current situation is

 Credit Score from here today alert 649

9 inquires 

1.9 years AAoA

1 paid collection from 2012 (mediacom internet) 

Balance last reported/Limit

Capital One QS: 3,000/4,500

Capital One Secured: 1,000/1,100

Walmart : 500/900

Amazon: 0/750

Express: 0/900

Buckle: 0/300 

Just checked chase website and I am pre approved for freedom and slate. Do I have a big chance of being actually approved? Will my high UTL cause my limit to be really low in case I am approved?

With all the knowledge acquired in this forum I believe I should wait to apply next year when I will be able to have all but one card reporting a zero balance and scores close to 700. Is that the right thing to do? Just need other ppl to confirm I am right in waiting so I won't fall for the temptation of applying right now.

Thank you 

[uswala]

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@Godoi25 wrote:

My current situation is

 Credit Score from here today alert 649

9 inquires 

1.9 years AAoA

1 paid collection from 2012 (mediacom internet) 

Balance last reported/Limit

Capital One QS: 3,000/4,500

Capital One Secured: 1,000/1,100

Walmart : 500/900

Amazon: 0/750

Express: 0/900

Buckle: 0/300 

Just checked chase website and I am pre approved for freedom and slate. Do I have a big chance of being actually approved? Will my high UTL cause my limit to be really low in case I am approved?

With all the knowledge acquired in this forum I believe I should wait to apply next year when I will be able to have all but one card reporting a zero balance and scores close to 700. Is that the right thing to do? Just need other ppl to confirm I am right in waiting so I won't fall for the temptation of applying right now.

Thank you 

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+1.

I would do the same.

[Anonymous]

Score could get you in but UTL will knock you off, or at least result in a low limit. Get the UTL down.

[Anonymous]

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@Godoi25 wrote:

My current situation is

 Credit Score from here today alert 649

9 inquires 

1.9 years AAoA

1 paid collection from 2012 (mediacom internet) 

Balance last reported/Limit

Capital One QS: 3,000/4,500

Capital One Secured: 1,000/1,100

Walmart : 500/900

Amazon: 0/750

Express: 0/900

Buckle: 0/300 

Just checked chase website and I am pre approved for freedom and slate. Do I have a big chance of being actually approved? Will my high UTL cause my limit to be really low in case I am approved?

With all the knowledge acquired in this forum I believe I should wait to apply next year when I will be able to have all but one card reporting a zero balance and scores close to 700. Is that the right thing to do? Just need other ppl to confirm I am right in waiting so I won't fall for the temptation of applying right now.

Thank you 

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LikLike others have said, dont apply until you get your utilization down and then apply.  Wilth utilization that high, inquiries, paid collection, etc..  Get your score up a little before you apply.

[dominow]

i was pre approved for chase slate and got  a 30 day notice. i'm at 700 plus on my scores. i think i screwed up by applying

[Godoi25]

I will wait, thank you for the confirmation. It felt good to see the pre approved but it's not the right time. I wana add 2 prime cards in 2015, close buckle and capital one secured,  and PC quick silver to version without annual fee. 

[Godoi25]

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@dominow wrote:

i was pre approved for chase slate and got  a 30 day notice. i'm at 700 plus on my scores. i think i screwed up by applying

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That's exactly my fear and also I dnt wana get in with a limit lower than my cap one secured. What is hurting your profile? Your scores look good. 

[Anonymous]

And to throw a wrench in your decision making process...

I was instant approved for $3000 at 22.99% with my horrible scores and baddies, my wife was Prequaled for the Freedom, Slate, and CSP.  Her's came back Insta-proved for $2000 at 18.99%.  CA thinks her limit was lower to make room for the CSP if/when I can convince her to apply for it...

Oz

[Anonymous]

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@Anonymous wrote:

And to throw a wrench in your decision making process...

I was instant approved for $3000 at 22.99% with my horrible scores and baddies, my wife was Prequaled for the Freedom, Slate, and CSP.  Her's came back Insta-proved for $2000 at 18.99%.  CA thinks her limit was lower to make room for the CSP if/when I can convince her to apply for it...

Oz

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Errrr, I dunno about your theory.

In October I was approved for a SWA for $2,000, and within the hour was approved for a CSP for $5,000.

Come this month, I'm approved for a Freedom for $1,500 and a Marriott Rewards for $5,000, both within 2hrs of the other.

Whatever my internal limit with Chase is, I haven't hit it yet.

I guess what i'm trying to say is... I doubt a CSP at it's minimum limit is going to put your wife there either.

[Jerry45]

It was said here already, and I agree. Get the balances down first, which result in your scores going up. then maybe try for the Freedom