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Slim file, 3 CCs should I continue to apply?

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Anonymous
Not applicable

Slim file, 3 CCs should I continue to apply?

Hi myfico,

So my story is this, im new to the us so I have a very slim file, but high income and some existing credit lines as follows:

1. CU Visa 10K$ - 10/14

2. Discover IT 1.5K$ - 02/17/15 (Required EO intervention)

3. Citi DC 6.9K$ - 02/17/15 (Required EO intervention)


TU 719 4 INQ 0% util, EQ 719 4 INQ 0% util.

My question is should I continue to apply now to more CC? Should I wait a year and then continue applying?
I would really like to have the Chase Freedom, QS and Barclay Sallie Mea.. would it be a good idea to spread the apps over time?
Any other cards I should consider applying before getting in the garden?

Message 1 of 8
7 REPLIES 7
Anonymous
Not applicable

Re: Slim file, 3 CCs should I continue to apply?


@Anonymous wrote:

Hi myfico,

So my story is this, im new to the us so I have a very slim file, but high income and some existing credit lines as follows:

1. CU Visa 10K$ - 10/14

2. Discover IT 1.5K$ - 02/17/15 (Required EO intervention)

3. Citi DC 6.9K$ - 02/17/15 (Required EO intervention)


TU 719 4 INQ 0% util, EQ 719 4 INQ 0% util.

My question is should I continue to apply now to more CC? Should I wait a year and then continue applying?
I would really like to have the Chase Freedom, QS and Barclay Sallie Mea.. would it be a good idea to spread the apps over time?
Any other cards I should consider applying before getting in the garden?


Congrats on your approvals.. Spreading apps over time is the best.  If I were in your shoes, I wouldn't apply for anything else until the new accounts age a bit and your profile showing payment history.  Although it will be nice to have all the cards you want, time and patience is your friend in the credit game.

Message 2 of 8
Anonymous
Not applicable

Re: Slim file, 3 CCs should I continue to apply?

Thank you so much for the kind words and response.
It does make a lot of sense to spread the apps over time, I was just unsure what is perffered as I saw a lot of people around here going on sprees and applying for 5+ new accounts at once.

Do you think 6Months should be enough? I plan on letting only the DC report very low (10$ish) to stick with the formula suggested here on the forums a lot.
When would be a good time to try the Discover IT CLI SP button? does it block if I try every month or two?

Message 3 of 8
Anonymous
Not applicable

Re: Slim file, 3 CCs should I continue to apply?


@Anonymous wrote:

Thank you so much for the kind words and response.
It does make a lot of sense to spread the apps over time, I was just unsure what is perffered as I saw a lot of people around here going on sprees and applying for 5+ new accounts at once.

Do you think 6Months should be enough? I plan on letting only the DC report very low (10$ish) to stick with the formula suggested here on the forums a lot.
When would be a good time to try the Discover IT CLI SP button? does it block if I try every month or two?


Yes.. 6 month is good.  Chase likes to see some history.  So use the cards you have currently and pay them ALWAYS on time.  Come the 6 month time, go to the Chase pre-equal site and see if you are pre-approved.  Pre- approvals from Chase is very solid.  In addition to you wanting a Chase, put Amex on the list as you can get a bigger limit quicker.  Big limits beget big limits from other companies.

 

If you see people here going on "app sprees", don't mimick them as it isn't the best for everyone.  For a thin file like yours, abstain from it and let your cards age and get decent prime cards with better limits.

 

Letting the DC report is a good plan.  But don't be afraid to use the other cards.  If you want the best, let DC report the $10 and then pay the others off if you use them before statement cuts.

 

How long have you had the Discover card?

Message 4 of 8
Anonymous
Not applicable

Re: Slim file, 3 CCs should I continue to apply?

Awesome feedback, the discover and DC are brand new, discover gave very low cl but that is understandable for my slim file.

I'll follow your recommendation and only let DC report, I'll pay in full the rest of the cards before they report if needed to be used.
Message 5 of 8
Anonymous
Not applicable

Re: Slim file, 3 CCs should I continue to apply?


@Anonymous wrote:
Awesome feedback, the discover and DC are brand new, discover gave very low cl but that is understandable for my slim file.

I'll follow your recommendation and only let DC report, I'll pay in full the rest of the cards before they report if needed to be used.

Excellent.. You are on the right track... The wait will pay off.Smiley Happy

Message 6 of 8
taxi818
Super Contributor

Re: Slim file, 3 CCs should I continue to apply?

Yes. best to wait. as i should have did. i got 15 cards in about a year time and my scores suffered because of it. but. since i know in a couple years with no more apps. my file will be strong. and i still have 5 year olld paid collection. will be scary when my file is completely clean and some age on it.

Message 7 of 8
Imhotrodcrazy
Valued Contributor

Re: Slim file, 3 CCs should I continue to apply?

3 cards are good for me.  I have five,  but I am letting my US Bank cards die off.  I prefer to have fewer cards with higher limits.  I am going to work on getting my Chase card doubled sometime in the future just for kicks.  This seems to work best for me since I like to make life easy.  

FICO 08
TU 842 12/8/18
EX 840 12/29/18
EQ 842 12/8/18
(NASA 30K) ( Amex 44k ) ( Freedom 10.6K ) ( US Bank Cash+ 20k, LOC 15k ) Winners never quit, and quitters never win
last app 2/15
Message 8 of 8
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