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Should i wait

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Established Contributor

Should i wait

I have seen so many getting approved from amex and i do have a amex card from penfed but i really want to get a amex cash back 6% supermarket .

Question is my UTl is 29% i own 23k in 2 credit card im going tonpay 15k on june should i wait until june so my Utl is lower plus 5 hp will be delted by that time .
I have 14 HP
Score 720
My last app was in September 2015
I want a BT card but i know i will be denied from chase slate

Limit 80k in credit card
4 car loans 2 pay all ready never late ever
Income 65k
Any advice
Amex ED (2000) Amex BCE (2000) Amex macys (5000) Amex Gold , VENTURE (5000) MC PLATINUM (600) CAP QUICKSILVERONE (1250) CAP QUICKSILVER (4500) CAP QUICKSILVER (3500) PENFED AMEX (5000) PENFED CASH REWARDS (25,000) PENDFED REWARDS VISA SIGNATURE (20,000) UPROMISE (1000) NFL (4000) OVERSTOCK (2800) HSN (3200) DISCOVER IT(8500) AMAZON PRIME (10000) MARVEL(7000) BOF VISA(2000) BEST BUY VISA CITI (9000) BLISPAY (9000)Amex Magnet (10,000) Uber (3100)

WELCOME TO 100K CLUB . LAST APP 08/29/18 Credit Score 8 TU 720 EQ 705 EX 724

Starting Score: 640
Current Score: 720
Goal Score: 850


Take the myFICO Fitness Challenge

CARD I want .
Chase Freedom and US cash +

Now back to the garden until 2020
Message 1 of 10
9 REPLIES 9
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Established Contributor

Re: Should i wait

IMO I would definitely wait till June  

 

You should get a score boost when the util comes down and the better the score the better the chance of approval and a decent starting line

Message 2 of 10
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Established Contributor

Re: Should i wait

Thank you i really would love a good SL special in a BT card so i dont have to pay interest
Amex ED (2000) Amex BCE (2000) Amex macys (5000) Amex Gold , VENTURE (5000) MC PLATINUM (600) CAP QUICKSILVERONE (1250) CAP QUICKSILVER (4500) CAP QUICKSILVER (3500) PENFED AMEX (5000) PENFED CASH REWARDS (25,000) PENDFED REWARDS VISA SIGNATURE (20,000) UPROMISE (1000) NFL (4000) OVERSTOCK (2800) HSN (3200) DISCOVER IT(8500) AMAZON PRIME (10000) MARVEL(7000) BOF VISA(2000) BEST BUY VISA CITI (9000) BLISPAY (9000)Amex Magnet (10,000) Uber (3100)

WELCOME TO 100K CLUB . LAST APP 08/29/18 Credit Score 8 TU 720 EQ 705 EX 724

Starting Score: 640
Current Score: 720
Goal Score: 850


Take the myFICO Fitness Challenge

CARD I want .
Chase Freedom and US cash +

Now back to the garden until 2020
Message 3 of 10
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Valued Contributor

Re: Should i wait

Waiting until your utilization comes down can only help your chances so why not wait, June is not that far off anyway. Amex is not inquiry sensitive so that shouldn't be an issue but utilization is always looked at even though yours is not terrible, it's always better to get it down. On a side note have you checked Amex's site for prequals?
Message 4 of 10
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Community Leader
Super Contributor

Re: Should i wait

agree with the above. Get that util reporting to 1-9% for best results. Amex doesnt like a lot of debt reporting, and that may be too high for them. Just wait...

My rebuild worked for me, but won't necessarily work for you!
BK7 D/C- 08/2013
Message 5 of 10
Highlighted
Established Contributor

Re: Should i wait

I did the pre on amex got 3 offer 2 gold card and green card also i got a mail for ED
Amex ED (2000) Amex BCE (2000) Amex macys (5000) Amex Gold , VENTURE (5000) MC PLATINUM (600) CAP QUICKSILVERONE (1250) CAP QUICKSILVER (4500) CAP QUICKSILVER (3500) PENFED AMEX (5000) PENFED CASH REWARDS (25,000) PENDFED REWARDS VISA SIGNATURE (20,000) UPROMISE (1000) NFL (4000) OVERSTOCK (2800) HSN (3200) DISCOVER IT(8500) AMAZON PRIME (10000) MARVEL(7000) BOF VISA(2000) BEST BUY VISA CITI (9000) BLISPAY (9000)Amex Magnet (10,000) Uber (3100)

WELCOME TO 100K CLUB . LAST APP 08/29/18 Credit Score 8 TU 720 EQ 705 EX 724

Starting Score: 640
Current Score: 720
Goal Score: 850


Take the myFICO Fitness Challenge

CARD I want .
Chase Freedom and US cash +

Now back to the garden until 2020
Message 6 of 10
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Established Member

Re: Should i wait

This is my issue exactly. I have only 1 card that I am paying down and I was scheduled to be done in June, but I just found out my in-laws are organizing an impromtu family trip to Disney in July so I won't be at my preferred utilization until August now. I have 3 HP falling off in June so I was so ready. Can't wait to get my BCP in August! As a mom/wife the supermarket gets a lot of my business.
How does your garden grow??
Message 7 of 10
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Super Contributor

Re: Should i wait


@juniornj23 wrote:
I have seen so many getting approved from amex and i do have a amex card from penfed but i really want to get a amex cash back 6% supermarket .

Question is my UTl is 29% i own 23k in 2 credit card im going tonpay 15k on june should i wait until june so my Utl is lower plus 5 hp will be delted by that time .
I have 14 HP
Score 720
My last app was in September 2015
I want a BT card but i know i will be denied from chase slate

Limit 80k in credit card
4 car loans 2 pay all ready never late ever
Income 65k
Any advice

I think you'll be approved for the BCP.


Total revolving limits 653000 (575000 reporting)

Message 8 of 10
Highlighted
Valued Contributor

Re: Should i wait


@alottacards wrote:

IMO I would definitely wait till June  

 

You should get a score boost when the util comes down and the better the score the better the chance of approval and a decent starting line


I agree with this approach... 

Message 9 of 10
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Valued Contributor

Re: Should i wait

Agree with above. Wait! It increases your chances, plus gives you an opportunity at a better limit!
                               

Total Credit: $240,100Credit Utilization: 1%AAoA: 5 years, 7 monthsInstallments: Car Lease, Marcus LoanNegatives: 0

LOWES-35k | BOA-32.5k | AMEX-30k | DISC-27.1k | ALLIANT-25k | NFCU-25k | BARC-15k | BBUY-12k | CHASE-10k | WAL-10k | CITI-9.7k | PENFED-9.7k


Message 10 of 10
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