Should I app now or should I app later

Anonymous · ‎10-01-2015

I am looking for some advice concerning applying for one last card, since March I have opened six new accounts Discovery, American Express, Chase, US Bank, Citi and Penfed. I have four inquiries on Equifax, three on Experian and two on TransUnion. Here are the dates and scores at time of approval.

Discover: 3/21/15 Equifax-789

American Express: 6/20/15 Experian-703

Chase: 6/24/15 Experian-703 Trans Union-798

US Bank: 7/4/15 Trans Union-791

Citi Bank: 7/25/15 Equifax-784 Experian-687 Equifax 7/28/15-784 (this for CLI at activation)

Penfed: 7/25/15 Equifax-784

Current scores are Equifax 746, Experian 773 and TransUnion 783.

No negatives on any credit reports. I have a total of thirteen accounts eleven are revolving one is closed, two are installments with one closed. My available revolving credit is 71K but only 58K is currently showing due to a 13K CLI not reporting yet. Oldest account is 8.5 years and AaoA is 3.8 years. The card I am looking to add is the Bank of America Better Balance Rewards card for two reasons. First is the $25.00 every quarter rewards and secondly to establish a relationship with them. Should I apply now or wait for the new accounts to age? I appreciate your suggestions.

Anonymous · ‎10-01-2015

If you really want it, apply now and then call it quits. That way, all the new accounts can age together. Keep us posted on results when you do apply.

Anonymous · ‎10-01-2015

^ agreed. the question of approval is very faded meaning i don't see you getting denied

it's better to do it now to let them age together and take the AAoA hit now

Anonymous · ‎10-02-2015

@Anonymous wrote:
^ agreed. the question of approval is very faded meaning i don't see you getting denied

it's better to do it now to let them age together and take the AAoA hit now

I would imagine that I would be approved but it's the credit limit that I think might be lower than I would want by applying now. I wonder does anyone have experience with BOA as far as the number of new accounts and inquiries in a short period of time and the credit limits they received and how are they on CLIs.

Anonymous · ‎10-02-2015

I have multiple accounts with BofA. The last two were the end of a fourteen card app spree. They were both approved for 10k each. However, I do all my banking with BofA.

Looking at your score with Experian and number of inquiries, I would say you are a shoe-in.

Anonymous · ‎10-02-2015

Did you app yet?

(Note: The above is neither a recommendation nor a solicitation of an application of the credit card being discussed herein. An application should only be made after thoroughly reviewing the material, both benefits and terms of service, provided by the credit card issuing entity. You should read the provided material carefully in order to understand fully all of the implications and risks of the offering of the credit card to which it relates. The achievement of any or all goals is not guaranteed. There is no assurance that the value or benefits of the credit card will be sufficient to justify the application for same. It is just a question.)

NRB525 · ‎10-02-2015

@Anonymous wrote:
I am looking for some advice concerning applying for one last card, since March I have opened six new accounts Discovery, American Express, Chase, US Bank, Citi and Penfed. I have four inquiries on Equifax, three on Experian and two on TransUnion. Here are the dates and scores at time of approval.

Discover: 3/21/15 Equifax-789
American Express: 6/20/15 Experian-703
Chase: 6/24/15 Experian-703 Trans Union-798
US Bank: 7/4/15 Trans Union-791
Citi Bank: 7/25/15 Equifax-784 Experian-687 Equifax 7/28/15-784 (this for CLI at activation)
Penfed: 7/25/15 Equifax-784
Current scores are Equifax 746, Experian 773 and TransUnion 783.

No negatives on any credit reports. I have a total of thirteen accounts eleven are revolving one is closed, two are installments with one closed. My available revolving credit is 71K but only 58K is currently showing due to a 13K CLI not reporting yet. Oldest account is 8.5 years and AaoA is 3.8 years. The card I am looking to add is the Bank of America Better Balance Rewards card for two reasons. First is the $25.00 every quarter rewards and secondly to establish a relationship with them. Should I apply now or wait for the new accounts to age? I appreciate your suggestions.

Why do you think Experian is 773, and everyone else is telling you it is 703 or 687? Cognitive dissonance here.

High Bal Jan 2009 $116k on $146k limits 80% Util.
Oct 2014 $46k on $127k 36% util EQ 722 TU 727 EX 727
April 2018 $18k on $344k 5% util EQ 806 TU 810 EX 812
Jan 2019 $7.6k on $360k EQ 832 TU 839 EX 831
March 2021 $33k on $312k EQ 796 TU 798 EX 801
May 2021 Paid all Installments and Mortgages, one new Mortgage EQ 761 TY 774 EX 777
April 2022 EQ=811 TU=807 EX=805 - TU VS 3.0 765

Anonymous · ‎10-03-2015

@NRB525 wrote:
@Anonymous wrote:
I am looking for some advice concerning applying for one last card, since March I have opened six new accounts Discovery, American Express, Chase, US Bank, Citi and Penfed. I have four inquiries on Equifax, three on Experian and two on TransUnion. Here are the dates and scores at time of approval.

Discover: 3/21/15 Equifax-789
American Express: 6/20/15 Experian-703
Chase: 6/24/15 Experian-703 Trans Union-798
US Bank: 7/4/15 Trans Union-791
Citi Bank: 7/25/15 Equifax-784 Experian-687 Equifax 7/28/15-784 (this for CLI at activation)
Penfed: 7/25/15 Equifax-784
Current scores are Equifax 746, Experian 773 and TransUnion 783.

No negatives on any credit reports. I have a total of thirteen accounts eleven are revolving one is closed, two are installments with one closed. My available revolving credit is 71K but only 58K is currently showing due to a 13K CLI not reporting yet. Oldest account is 8.5 years and AaoA is 3.8 years. The card I am looking to add is the Bank of America Better Balance Rewards card for two reasons. First is the $25.00 every quarter rewards and secondly to establish a relationship with them. Should I apply now or wait for the new accounts to age? I appreciate your suggestions.
Why do you think Experian is 773, and everyone else is telling you it is 703 or 687? Cognitive dissonance here.

The reason I think that the Experian score is 773 is because Exeperian's website says it is 773. I guess they could be stressed by holding two or more contradictory beliefs but as for me I am just going by what they say.

Anonymous · ‎10-03-2015

For Yes-Its-Me and CAPTOOL, I did apply today and was approved for 11K which is 1K higher than the limits currently showing on my credit report and they pulled Experian

Anonymous · ‎10-03-2015

@Anonymous wrote:
For Yes-Its-Me and CAPTOOL, I did apply today and was approved for 11K which is 1K higher than the limits currently showing on my credit report and they pulled Experian

Sweet!! Congrats and enjoy it.