When can i apply for a prime card

Anonymous · ‎02-09-2018

Opensky cc 10 month on-time
VS 6 months on-time
Credit-one 5 months on-time
Jd williams, simply be, j crew 2 months on-time
44% Utilization (i know)
25 lates
No collections
1 inquire
Experian (619)
Transunion last month (601)
Bankruptcy from 2015

toadsworth · ‎02-09-2018

You'll want those lates to be as aged as possible. Have you tried sending any goodwill letters asking for removal of the lates from your reports? Getting that utilization under 30% will boost your score. Getting it under 10% even more.

You'll want to be above 650-660ish before going for the more prime stuff. Check often for prequals. Amex, Chase, CapOne (their Platinum isn't what most would call a prime card, though), Discover, US Bank, Citi all offer prequalifcation pages.

Kind of have everything I want now, creditwise. Undeliberately gardening until I have some spending to do and find a 100,000 Amex Platinum offer lol

Started my credit journey August 2016, after abstaining from credit for years after some poor financial choices in high school. Started with scores in the 580s. Current scores 11/6/18 - EQ: 754 TU: 757 EX: 743

From oldest to newest: DuPage CU Visa Platinum, SL 500 now 3750, Cap1 Platinum SL 300 PC'd to QS now 1600, Alliant Credit Union Share Secured Loan $500, Amex BCE SL 5000 now 600, Neiman Marcus SL 700 now 10000, Target RedCard SL 400 now 2900, Amex ED SL 10000 now 500 (combined with Cash Magnet), Chase AARP SL 800 now 3300, Chase Amazon Prime SL 1000 now 10000, Honda Lease, Discover it SL 1000 now 7000, Synchrony PayPal 2% CB SL 3000 now 10000, Barclays Uber Visa SL 800 now 2100, Citi ThankYou Preferred SL 3300 now 5300, Chase Ritz-Carlton SL 10000 now 1500 (moved to other cards to get annual fee refund), Comenity Total Rewards Visa SL 2000 now 3250, US Bank Cash+ SL 500 recon'd to 10000, US Bank Reserve LOC 1000, Union Bank Rewards Visa SL 5000 now 5000, Amex Cash Magnet SL 9900 now 20000, Cap1 Venture SL 10000 now 10000, Discover it 3000 SL now 4000, Amex SPG Luxury 3100 SL now 3100, Amex Amazon Business Prime 10000 SL now 10000, Amex Gold NPSL, US Bank Premier LOC 5000, US Bank Visa Platinum 5400 SL currently reconning

Combined revolving CL $135,300

Goal: Spring 2019 800+ club, $50,000 combined Amex limit

Anonymous · ‎02-09-2018

Lates are from Fed Loan Services. Should i ask for goodwill removal?

Anonymous · ‎02-09-2018

How have you opened 6 cards in the last year and only have 1 inquiry?

Anonymous · ‎02-09-2018

Opensky- no credit check
Credit one- enquiry
SCT (soft pull) -VS, J Crew, Simply Be, JD Williams
= 1 hard pull

HeavenOhio · ‎02-09-2018

Wait until your newest cards are at least six months old before applying for anything new. At that point, bring your utilization down to AZEO (all zero except one). AZEO means to report a small balance on one card with the others reporting zero. Once you've gardened and your utilization is in check, pull your scores and see where you're at. They'll give you an idea of what you might qualify for. If you're not sure, come back here and ask.

In the meantime, soak up any knowledge you can about the various products that might be available, and feel free to ask questions about them.

Anonymous · ‎02-09-2018

Dang 4 months is a longgg time. But i think im going to take your advice. I was thinking about trying Penfed first when i do pull the trigger. How do you feel about 25 lates. Can i get approved with them?

Anonymous · ‎02-09-2018

wrote:
Dang 4 months is a longgg time. But i think im going to take your advice. I was thinking about trying Penfed first when i do pull the trigger. How do you feel about 25 lates. Can i get approved with them?

Go by when your fico score gets to 650 to 700. And with all those lates the higher your credit score the better. A rule of thumb is when you have the credit score and all lates are 24+ months in the rear view mirror. The more prime the card, the further in the past you need those lates.

Anonymous · ‎02-09-2018

Thank you

Anonymous · ‎02-09-2018

You can apply for prime cards when your Fico scores ares high enough to qualify for prime cards. You're not there yet. Try to get your scores above 650 then give it a try. Work on getting that utilization down, that should help your scores.