To APP or to WAIT .... ??

[Anonymous]

Hi all!!!  So Im planning my first ever APP SPREE since my scores have hit 640s, up from 550-580 just months ago.  Got a Cap One collection removed (+21 pts), a medical collection removed (+19 pts), a 60 day late deleted (+7 pts) and lowered my UTIL from 80% to 44% (yet to report fully).  I also received a $2000 CLI on my Western FCU VISA, which will report next Friday with a $0 balance on a $3000 CL -- llowering my UTIL to about 35% overall.  My scores are 640-645 now, and Im wondering if when that CLI reports and lowers UTIL even more, my score will bump again??  I have baddies from one yeart ago - 3 30-day lates on a student loan.

I currently have Barclay Rewards, Cap One QS1, Credit One, CareCredit and Western FCU VISA.  Im looking to add Citi, AMEX Everyday, CapOne Venture1 or QuickSilver, Chase Freedom, BofA Cash BankAmericard, PayPal MC, Lowes, NFCU nRewards VISA or possibly USAA AMEX.  Not necessarily all of those, but theyre on my list.  Any advice?  Should I do the app spree this week with scores as is, or wait for the CLI to report and further UTIL paydown?  My AAofA is 7 years.. overall CLs $10,850.00.  INQs are heavy (About 6-8 on each in past year, mainly for car shopping and bank accts), so I need to steer clear of super INQ sensitive companies like Barclay :-)

Any advice on scores for those cards above?  I love to hear from people who have experienced these cards approved or denied, either way.  I am excited for my first app spree...I have worked SO HARD getting my scores above 600, and now almost above 650.. Exciting times ahead!  Thank you for the help all!!  :-)  Also feel free to throw in suggestions on cards not mentioned for my score range, that offers decent CLs .. I am mainly looking to add travel reward cards, as I will be traveling heavily in 2016.

[OmarGB9]

First of all congrats on raising your scores up by nearly 100 points. Hard work pays off for sure. That being said, 640 is still a little on the low side. Not trying to rain on your parade, but most lenders like 660-670+ scores. Of course you may still get approved at 640, but not always with the best terms. (Higher APRs and lower SLs tend to be common the lower your score is). I'd advise you to wait till your lower UTIL and everything reports. Maybe you'll see a nice bump. I know I saw like a 20 point bump from just lowering my UTIL on one of my cards that was at 83% down to 67%. 

[Anonymous]

You're right. Thank you much. I'm a tad impatient lol .. That CLI of $2000 will report in 5 days, bringing my total CL from $8850 to $10850 and lowering my overall UTIL dramatically (along with other pay downs reporting by early October). So let's hope for a boost to 660+ with those reports!!!!

[Anonymous]

Yea is better wait , the better your score , better the terms , im like you little impatient to try chase or discover or any mayor card xd but in my case im waiting for the 700 score zone , im close with 690. 

[Anonymous]

I would wait. 

[Anonymous]

Definitely wait it out until 700+....

I did, and it paid off tremendously

[Anonymous]

I agree that you should wait until at least 680+. My approvals and starting cl jumped tremendously when all three scores hit 680.