Spree may be coming; need help with the order

[Anonymous]

If a spree were in the works, what order would you do these in and why?

Barclays

Citi

Discover

Bank of America

Chase

PenFed

Capital One

[Appleman]

What is holding the scores down?

Utilization, lates, other baddies?

I believe you would be premature in going on an app spree given the scores.

Also, what are your goals with the new credit? And what is your AAoAs? Meaning will this new 'spree' only serve to shrink scores?

Do you have a variety of credit? Auto, personal loan, mortgage? If not you may want to research share secured loans.

Most would say Chase if there is 5/24 product you want and have not yet reached 5/24.

I am a PenFed fan because of the single Equifax pull.

Discover has been rapid to grow.

Again, let the scores grow and you will likely do better once you cross over 700.

[Anonymous]

I would suggest holding off and working on getting higher scores.  Your current scores are too low for a high liklihood of success, I am sure you would get approved for something but likely at a high APR with low CL.  I would detemine why your scores are so low and work hard on that, my guess is ulitization or collections could be the issue, if so working on those things will pay off nicely. 

[Anonymous]

What is holding the scores down?

Utilization, lates, other baddies?

Mostly utilization (over 50%) but will be down towards 20% or lower by the end of the month. I do have lates on my reports, the most recent about 18 months old

I believe you would be premature in going on an app spree given the scores.

Also, what are your goals with the new credit? And what is your AAoAs? Meaning will this new 'spree' only serve to shrink scores?

Oldest account is almost 17 years old; AAoA ~ 6.5; I have been rebuilding for the past year and looking to add accounts at the same time to age together. A year ago I had only one CC.

Do you have a variety of credit? Auto, personal loan, mortgage? If not you may want to research share secured loans.

 I do have one active car loan, but not any other (mortgage / personal)

Most would say Chase if there is 5/24 product you want and have not yet reached 5/24.

I am a PenFed fan because of the single Equifax pull.

Discover has been rapid to grow.

Again, let the scores grow and you will likely do better once you cross over 700.

I think I'll get in whith Chase by just being at 5/24. I've read up plenty on PenFed and am looking forward to join them; the Equifax pull is the one that bothers me. It has normally been my lowest score

Thanks for the input

[Anonymous]

I agree with the people above.. We just don't want to see you get denied and incur more Inquiries and bring down your scores more.

[Anonymous]

I would wait before going on any sort of spree.

[stellar]

I agree with the others to wait until your scores are higher, I would say 670-700 at least.

As far as order, go for Chase bc of 5/24.

Then Penfed as they can be a bit sensitive esp concerning new accounts, too much avail credit

Then Citi as they are very inquiry/new acct sensitive

BoA is less sensitive

Disco is all over the place so no real way of knowing

Capone will do 3 inqs so I would do them just before Barclay

Do Barclays last as they will sometimes close a card within 6 months if they see you applied for other cards after theirs.

[Anonymous]

Actually I would not attempt an app spee with scores under 700. You may be successful with Capital One (depending on which card you app for) but I would be not so confident with the others. If you are going to burn inquires I would try CLI on your present cards. Just my opinion from my experience...Good Luck though...

[Anonymous]

I appreciate everyone's input.

Thanks stellar for giving some insight as to the order of apps

[Anonymous]

If you don't mind me asking...when was your last CLI for your Capital One and Amex cards. As you probably already know, you can get these possibly raised every 6 months without a pull at all. As your limits go up your utilization goes down meaning scores go up...Just a thought..