I currently have a discover student card ($750 Limit, age is 2yrs 9mo), Victoria Secret card ($1,300 limit, age is 2 yrs 5mo), Chase freedom ($1,500 limit, 7mo), and a Nordstrom card ($1,500 limit, age is 6mo).
I'm 21, and still trying to build up credit. Credit Karma says my Transunion score is 644, and my Equifax score is 647. I have never missed a payment, but my utilization is sorta high so I know thats what is bringing my score down (along with credit age). I have been working on paying off my cards for the past 2 months and I've got a decent amount paid off, its just lagging on the update. My fico score is 658 according to my discover app, but that one hasnt been update in a while (shows my utilization to be way higher than it is).
I really want to apply for the card as I believe I would benefit from it. I have gotten in the habit to pay off whatever I put on each card so I trust myself not to max it out, plus the rewards are great. I am just worried about being denied.
I do not want it to hurt my score as I plan on signing a lease in 6 months. I believe that if I do have good approval odds the new balance would help my overall utilization, aka help my score?
Id say keep gardening. Your scores arent strong but they are getting there. If you can hold out another 6-9 months, and continue to take care of your credit, you should be ok. I would start asking for CLIs on the cards youve had the longest without one. Start gently boosting your scores.
Barclay can be a little picky. I would get your utilization under 30% and wait for your credit reports to reflect that before apping for the Uber card. If you can get your util below 10% then even better!
So Barclay will look at the past 12 months of credit usage. They might be able to approve through a recon, but I would defintely drop the usage as low as possible. I applied last month after my 1 year or rebuilding and got approved. App'd Jan 18 and most recent delinquent was 120+ in Jan of 2017. I thought they'd deny me. Many get the 7-10 day notice, call backdoor number and get approved.
Best of luck!