Should I apply? Wells Fargo Propel American Express

[Anonymous]

Hello everyone! I am currently 21 years old and have 4 credit cards (Chase FU, Citi TP, Disco, Amex CM).  Disco is oldest card at 1yr 1mo, Citi and chase have an age of 3 mo, the Amex card has an age of 1mo. I keep 0% util on all accounts and have no baddies, income is around 15k (in college) 7 inquiries in past 12 months with latest being 9/18. FICO 8: 701 EQ:692 TU:692 should I apply now? 

[Anonymous]

my suggestion would be no. Way too much recent activity. Let some of those current CCs maturate first. avg age is too low and a ton of recent inquiries. Not worth the risk of denial. 

[Anonymous]

How long would you suggest to wait?

[Anonymous]

I'd say space your applications to 6 months. That means 6 months after your last approval/denial. Besides you need to clear out those inq's and maybe less than 5 would work. Try again in a year in my opinion.

[NaaryalHead]

Space out the next app at least 6 months from now. 

Too many cards in last 3-6 months will just cost you a wasted inquiry.

[Anonymous]

OP - I would suggest waiting 6 months and ask for CLIs on your existing cards - I would allow those cards and AAoA to mature to 12 months + before seeking better cards. Wouldnt it be better to wait 12months - let the INQ fade and existing CLs to go up and then app for the Propel and get approved for $4000 rather than wait six month and maybe if Propel gets approved for $1000 ? 

My guess is Propel would deny you today and problably deny you in 6 months - 1 year from now your chances are much better.