Should I App For WF Propel Again or Stay in the Garden?

[Anonymous]

Hey guys! So, now that my credit report is finally starting to recover from the app spree I did last May and I have been in the garden for 5 months, I am thinking of coming out for just one more card.

I’ve had my eye on the Propel for sometime. I applied last summer, and the sole reason given for my denial was too many accounts last 24 months.

Would it be worth trying again now? Or should I just stay in the garden? Most of my accounts have hit the year mark, but I am still LOL/24

EQ FICO 8: 762
AAoA: 1 year 3 months
AoOA: 3 years
1 inq in the last year
No derogs

[CreditInspired]

How many accounts under 1 year?

[Anonymous]

@CreditInspired Right now, I have 7 accounts under a year old.

[CreditInspired]

IMO, definitely stay in the garden to allow your cards to age.

[Anonymous]

I had 6-7 new accounts in the prior 18 months before they approved me for Propel. 

5/12

0/6

Maybe something changed in the UW criteria since then but, it really comes down to your total CR picture.  There might be something else in there that's got you on the fence of an approval. They may be concnetrating more on the prior 6 months than the last year or two.

[Anonymous]

@Obscure-Expert. Hmm, good data point. I may wait a couple more months. Come August, I’ll be at 0/6 and 5/12, exactly as you are.

[Remedios]

You should not compare your profile to others. While any DP can be valuable, it has to be put in proper context

@Anonymous  has longer history than you. It's to be expected his profile can take a few bumps and extra apps compared to new(ish), young profile with numerous new accounts. 

I'm more of the opinion you should garden longer. 

[Anonymous]

Update: My fingers got itchy, and I pulled the trigger. And for once, it actually worked in my favor.

https://ficoforums.myfico.com/t5/Credit-Card-Approvals/WF-Propel-Approval/td-p/5649851