When to Apply for New CC?

[Anonymous]

Hi Everyone!

When should I apply for a new CC?

Currently have Cap One  and Disc it.

Desperatly need to apply for Chase ink for business as it will fit perfectly.

Currect score 700 across bureaus. Util 15%

My statement date cut is on 11/17 and I paid off a large sum, which will bring down the util to 15% and simulators show that my score should jump by 20 or so points after this payment.

Should I wait until Credit Carma / Creditwise update my report or am I safe to apply right after the statement cut date on the 11/19?

Or is it better to wait for specific time in general?

Thanks!

[AverageJoesCredit]

Hi , you should provide more info about your current profile like what cards you may have or what you may want to get. Anyone can apply for a card at anytime but if you want to maximize your chances of approval we need more info to give better recomendations.

[Anonymous]

Do you only check your scores on credit karma/creditwise/other vantagescore based places? Or do you know your FICO scores as well? There's a bunch of people here that will be able to give you much better advice than I could but they're probably gonna need a little more info on your credit profile like current cards (I'm guessing from your post possibly just a capital one card at the moment? But definitely would be good for you to clarify even if I'm assuming correctly on that) AAoA, baddies and payment history, inquiries, FICO scores, etc

[Anonymous]

Hi, Thanks for the feedback! Updated the question with more info. 

Im just generally tryng to find on how far after the statement day would be the best to apply for new CC.

Thanks!

[Anonymous]

Generally, the best time to apply would be after the credit report is updated and reflect your most recent credit actions, uti, payments etc., the score increase and your payment reflecting will definitely help increase your odds for approval. But you have to realize that other factors are being reviewed and score alone will not be the basis for approval. Perhaps you can provide more datapoints for us.

- Length of Credit History

- Total number of Trade lines open

- Total number of inquiries on all your credit reports EX, EQ and TU

- Any existing relationship with Chase?

[Anonymous]

Anybody know who chase tends to pull? Random tidbit to add, make sure the actual report they're likely to pull has updated before you try - maybe I'm just crazy here but I SWEAR TU sometimes takes longer to update than the others (I know I've seen other people mention this before too but it could've been a different bureau) - either way though my suggestion stands, find out who they're most likely to pull (or just make sure all 3 are good to go) and double check before you app. You could also check credit pulls databases for your state just to be safe, if you do though make sure you're not looking back too far to the point the info may no longer be applicable

Good luck! I know absolutely nothing about business cards but for what it's worth I'd give you one if I was a bank ☺ (although honestly I probably wouldn't make a very good bank, lol I'd give everybody credit, I'd be capital one x10)