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Will I get approved for pre-qualifed credit cards??

damindaw2002
Established Member

Will I get approved for pre-qualifed credit cards??

 

Ok My question is what are my chances of getting approved for pre-qualified credit cards.

 

Experian Fico Score - 715

 

Open Credit Cards-1
 
 
 

Total Open Accounts-1

Accounts Ever Late-0
Collections Accounts-0
Time Since Negative-Never
Average Account Age- 7 Years 9 Months
Oldest Account- 15 Years 4 Months
 
I have 1 closed account on my report with Capital One Bank which is in good standing, paid on time for 7 years 
 
My open credit is with Capital One and have 2 months payment history with $0 balance
 
I'm pre-qualified for Amex and Citi Double Cash. Will i get approved?
 
Thanks

 

Message 1 of 28
27 REPLIES 27
Remedios
Moderator

Re: Will I get approved for pre-qualifed credit cards??


@damindaw2002 wrote:

 

Ok My question is what are my chances of getting approved for pre-qualified credit cards.

 

Experian Fico Score - 715

 

Open Credit Cards-1
 
 
 

Total Open Accounts-1

Accounts Ever Late-0
Collections Accounts-0
Time Since Negative-Never
Average Account Age- 7 Years 9 Months
Oldest Account- 15 Years 4 Months
 
I have 1 closed account on my report with Capital One Bank which is in good standing, paid on time for 7 years 
 
My open credit is with Capital One and have 2 months payment history with $0 balance
 
I'm pre-qualified for Amex and Citi Double Cash. Will i get approved?
 
Thanks

 


Hi and welcome!


Probably, but if your only opened account has $0 balance, you lost 15-20 points when it reported that way

 

Do not apply till next statement is ready, allow card to report a balance (under 8.9% because your individual and aggregate utilization are same due to one card only), then apply. 

 

I think that will increase your chances 

 

Amex should be relatively easy for you. Citi tends to be a bit more unpredictable. 

 

Good luck! 

Message 2 of 28
damindaw2002
Established Member

Re: Will I get approved for pre-qualifed credit cards??

Thanks for the info..

 

 

Message 3 of 28
damindaw2002
Established Member

Re: Will I get approved for pre-qualifed credit cards??

What about for Chase freedom or Unlimited? 

Any other cards you recommned to apply without waiting for another statement? Because I'm not planning on using the card

Message 4 of 28
Remedios
Moderator

Re: Will I get approved for pre-qualifed credit cards??


@damindaw2002 wrote:

What about for Chase freedom or Unlimited? 

Any other cards you recommned to apply without waiting for another statement? Because I'm not planning on using the card


You can apply at any time, but keep in mind you're applying with non-optimal score

It may change the terms of the approval such as SL and APR (if apr is important to you)

 

Chase also have prequal page, so feel free to check it out  Chase prequal

 

Are you needing new CC urgently for a specific reason? 

 

 

Message 5 of 28
damindaw2002
Established Member

Re: Will I get approved for pre-qualifed credit cards??

Well APR is not important and what does SL mean?

 

i just want to have 2 or 3 accounts on my file 

 

Thanks

Message 6 of 28
ALK11
Established Contributor

Re: Will I get approved for pre-qualifed credit cards??

SL is starting limit.

 

You can apply for the cards youre prequalified for now and have a good chance of getting approved. If you do what was said above and your score increases, your chance of approval might be better as well as getting a higher starting limit. If you just want the extra card or two for the sake of having them, what's the rush? But if you don't care about SL and just want the cards, go ahead and apply, youve probably got a good chance at getting them.

Message 7 of 28
xaximus
Valued Contributor

Re: Will I get approved for pre-qualifed credit cards??

I would follow the advice above regarding letting your account report a small balance, leave like $25-50 on it, let the statement cut and then make a payment on the due date for the full amount. Once that happens, then apply for whichever card. AmEx/Discover will be easy cards to get. If you are looking into Chase, they have many cards but see what works best for you. Chase Freedom is a 5% quarterly category card while the Freedom UL is a 1.5% card.


Scores - All bureaus 756 +
TCL - Est. $275K
Message 8 of 28
Remedios
Moderator

Re: Will I get approved for pre-qualifed credit cards??


@damindaw2002 wrote:

Well APR is not important and what does SL mean?

 

i just want to have 2 or 3 accounts on my file 

 

Thanks


 

We dont know anything about your spending habits to be able to recommend appropriate cards. Dont apply for A card, try THE card. 

 

What do you spend money on?

Do you travel?

Do you want cash back? 

Income range etc 

 

I am sure with that info, you'd get some great suggestions. 

 

 

Here's a link to a thread that lists common abbreviations used on myFICO: http://ficoforums.myfico.com/t5/User-Guidelines-General/Common-Abbreviations/td-p/88458

Message 9 of 28
damindaw2002
Established Member

Re: Will I get approved for pre-qualifed credit cards??

Yes i do travel and cash back would be good 

income - 85k

 

 

Message 10 of 28
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