To App or not to App? Advice?

mmajer4211 · ‎06-04-2019

I just entered the garden a few days ago but I also just got a preapproval for the Discover Cash back and this is the first time thats happened. I'd like to have this card but I'm not sure I should do it. I went through a massive rebuild over these last couple months, scores in signature, and I'm just trying to build from here. Kind of just been taking advantage of some good bonus miles/points too. Should I take one more hit or just let it age? I'm really looking for a cash back card though. Is Discover Cash Back a good choice or should I look at something different? I was really eyeing the Wells Fargo Propel as well. I appreciate your advice as alway. Here is a list of things I've done in the past few months:

Feb 2019: Capital One Platinum $500, Citi AAdvantage $3,200

March 2019: Barclays Aviator $2,000

April 2019: Chase IHG $8,400

May 2019: DCU Auto Refinance $23,000, DCU Student Line of Credit $75,000, DCU Visa $3,000

June 2019: Hilton Honors $1,000

MASSIVE OVERHALL (48) MONTHS IN

Chase Sapphire Preferred $14,500 - Opened 4/21

American Express Hilton Honors $18,000 - Opened 6/19

Sandals Bank of America $11,000 - Opened 4/21

Capital One Quicksilver $750 - Opened 2/19

Credit One Platinum $1,200 - Opened 3/16

Credit One Platinum $1,050 - Opened 03/17

Anonymous · ‎06-04-2019

So you've opened 5 cards in the last 5 months. I'd garden for at least 6 months, 12 months is better, and let your accounts age. This will yield better results when you apply for your next card.

KLEXH25 · ‎06-04-2019

@mmajer4211 wrote:
I just entered the garden a few days ago but I also just got a preapproval for the Discover Cash back and this is the first time thats happened. I'd like to have this card but I'm not sure I should do it. I went through a massive rebuild over these last couple months, scores in signature, and I'm just trying to build from here. Kind of just been taking advantage of some good bonus miles/points too. Should I take one more hit or just let it age? I'm really looking for a cash back card though. Is Discover Cash Back a good choice or should I look at something different? I was really eyeing the Wells Fargo Propel as well. I appreciate your advice as alway. Here is a list of things I've done in the past few months:

Feb 2019: Capital One Platinum $500, Citi AAdvantage $3,200
March 2019: Barclays Aviator $2,000
April 2019: Chase IHG $8,400
May 2019: DCU Auto Refinance $23,000, DCU Student Line of Credit $75,000, DCU Visa $3,000
June 2019: Hilton Honors $1,000

That's a lot already in a short period of time. Not to mention Barclays and Chase who spook easily. Go to the garden.....and stay put.

Anonymous · ‎06-04-2019

@Anonymous wrote:
So you've opened 5 cards in the last 5 months. I'd garden for at least 6 months, 12 months is better, and let your accounts age. This will yield better results when you apply for your next card.

+1. Def need to get some age under your belt. Disco will be there waiting for you when you walk out of the garden in 6-12 months.

pinkandgrey · ‎06-04-2019

Even though I’m sure you would be approved, I would wait. You have a better shot at a good SL and APR if you wait at MINIMUM 3 months. 6 would be better. Congrats on the prequal and good luck!

Discover It: 26.5k
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coldfusion · ‎06-05-2019

I would not apply for any card for the next 12 months. You've already leapfrogged the point where a Discover would be most useful in building up your credit profile; I would suggest you instead spend the time researching what would be your best choice for a 2% cashback card.

(10/2025)
FICO 8 (EX) 838 (TU) 846 (EQ) 850
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Artist formerly known as the_old_curmudgeon who was formerly known as coldfusion

Anonymous · ‎06-05-2019

I think many would have advised you not to do what you did, I personally like seeing real world app shopping, that people have taken. I may have 5 to 6 inquiries on my report, 2 business and 3 to 4 for personal. After that its gardening for sure. Make sure if you do another app, it’s a card you need and want and will grow.

Remedios · ‎06-05-2019

@mmajer4211 wrote:
I just entered the garden a few days ago but I also just got a preapproval for the Discover Cash back and this is the first time thats happened. I'd like to have this card but I'm not sure I should do it. I went through a massive rebuild over these last couple months, scores in signature, and I'm just trying to build from here. Kind of just been taking advantage of some good bonus miles/points too. Should I take one more hit or just let it age? I'm really looking for a cash back card though. Is Discover Cash Back a good choice or should I look at something different? I was really eyeing the Wells Fargo Propel as well. I appreciate your advice as alway. Here is a list of things I've done in the past few months:

Feb 2019: Capital One Platinum $500, Citi AAdvantage $3,200
March 2019: Barclays Aviator $2,000
April 2019: Chase IHG $8,400
May 2019: DCU Auto Refinance $23,000, DCU Student Line of Credit $75,000, DCU Visa $3,000
June 2019: Hilton Honors $1,000

Whether you should app more or not right now depends on how many cards you actually want to keep.

Anonymous · ‎06-06-2019

Go to the garden. Let these cards age.

joltdude · ‎06-06-2019

Nope.. No.. Nein.. Nicht....

Unless you want to *lose* some of your newly acquired cards...

Miss Disco would likely APPROVE you btw... But other creditors would likely be spooked and close some of your new cards.... and you wouldnt get one of Discovers best offers or CLs....

The garden is waiting for you... Disco will be there when you leave the garden....

-J