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Should I apply? Wells Fargo Propel American Express

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Established Member

Should I apply? Wells Fargo Propel American Express

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? 

5 REPLIES 5
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Contributor

Re: Should I apply? Wells Fargo Propel American Express

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. 

FICO 8:
EQ-835
TU-836
EX-833

Discover IT - 23.5k @18.24%
Macys Amex - 7.5k @26.99%
Chase Amazon - 2k @20.74%
Chase Sapphire Preferred - 14.7k @17.49%
Amex Bonvoy Brilliant - 14.7k @20.49%
Amex Platinum (NPSL)
Message 2 of 6
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Established Member

Re: Should I apply? Wells Fargo Propel American Express

How long would you suggest to wait?
Message 3 of 6
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Regular Contributor

Re: Should I apply? Wells Fargo Propel American Express

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.
Credit Cards



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Loans


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Future CCs
Discover It, Chase Freedom, BB Americas Platinum Plus
Message 4 of 6
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Regular Contributor

Re: Should I apply? Wells Fargo Propel American Express

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.

BofA Cash Rew: 16k+
Citi Premier: 7k+
Citi DC: 7k+
Chase Amazon: 4k+
Cap1 QS1: 2k+
Barclays Uber: 8k+






Next App in: Late Oct 2019

Torch bearer of the Bucketeers' Society. Shamefully carrying a bucketed Cap One QS1 with AF & zero chance of a PC.

Message 5 of 6
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Contributor

Re: Should I apply? Wells Fargo Propel American Express

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. 

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