Advice on velocity

[Anonymous]

Hi guys, just needed some advice. Im working on my 5/24 cards. Currently I have capital one quicksilver, discover it, freedom unlimited. How long should I wait till I apply for the ink cash card? Should I garden for awhile? Goal is to have the CSR and Hyatt cards as last two slots of 5/24. But sneak in one ink card.

Here's the age of my cards:
QS- September 2018
Discover- February 2019
Chase FU- March 2019

Fico 9- 762
Experian-715
Credit karma-TU-700/EX-700

My income is 50k and I do have a legit side hustle

[Anonymous]

I recommend 6 months between Chase apps.

[sarge12]

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@Anonymous wrote:
Hi guys, just needed some advice. Im working on my 5/24 cards. Currently I have capital one quicksilver, discover it, freedom unlimited. How long should I wait till I apply for the ink cash card? Should I garden for awhile? Goal is to have the CSR and Hyatt cards as last two slots of 5/24. But sneak in one ink card.

Here's the age of my cards:
QS- September 2018
Discover- February 2019
Chase FU- March 2019

Fico 9- 762
Experian-715
Credit karma-TU-700/EX-700

My income is 50k and I do have a legit side hustle

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If you have discover card, why are you listing the credit Karma scores for TU and EX? The free fico08 score for TU comes with the credit card account, and discovers creditscorecard.com provides a EX fico08 free to everybody. No need to display a meaningless Vantage 3.0 score that lenders do not use. Just curious, but thought you may not realize that was available.

[Anonymous]

Didn't know what was relevant. So I just put those up. The fico 9 model is from my wells fargo investment account. The discover fico 8 score I have is 746.
Hopefully this helps with my question about when I can apply next.

[Anonymous]

Whoo... 6 months? That's a long time. Is it cause of my aaoa or is it just a general guideline? ⌛

[Caught750]

There are many reasons for it but there are 2 big ones, 1 card every 6 months keeps you under 5/24. Secondly, the are many reports on here of Chase being skittish and closing ALL OF YOUR ACCOUNTS with them if they feel that you are asking for too much too fast.

I have not had any issue with Chase, personally, and they are currently my primary FI. I have actually found them to be very generous with my profile and that they were far more lenient of certain thresholds than many here believe them to be.

That said, what income are you working with? That may also dampen your plans if it isn’t sufficient for solid CLs across that many cards. Regardless I’d wait an absolute minimum of 3 months, and more comfortably 6 months, between Chase apps.

[CreditInspired]

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@Anonymous wrote:
Hi guys, just needed some advice. Im working on my 5/24 cards. Currently I have capital one quicksilver, discover it, freedom unlimited. How long should I wait till I apply for the ink cash card? Should I garden for awhile? Goal is to have the CSR and Hyatt cards as last two slots of 5/24. But sneak in one ink card.

Here's the age of my cards:
QS- September 2018
Discover- February 2019
Chase FU- March 2019

Fico 9- 762
Experian-715
Credit karma-TU-700/EX-700

My income is 50k and I do have a legit side hustle

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Hi and welcome

Since the AoYA is 0 months and your file is really thin, IMHO, I suggest waiting until that card is 12 months. 

[sarge12]

OK, If you only have 3 credit cards, all obtained since September, I am assuming you are very young with a short credit history. You mentioned no other type of debt such as installment loans like a car. Three cards is enough credit cards to build your score, but I do not really know if establishing good credit scores is a goal you are looking for. If in fact, that is your only credit lines of any type, applying for that fourth card may make even your current card issuers nervous. Obtaining too many cards quickly at the beginning of your credit history can trigger red flags on even your current credit card accounts. Attempting to rush getting too many cards may cost you some of the cards you already have, or cause them to decrease your credit limits. Also I do not know what you mean by a side hustle...is it reportable income for which you receive W2 forms for? If not you might not want to put it down as income on a credit application. I am not trying to be judgemental or anything, but you are giving me or anyone else very little to base any experience based advice on, so I am using assumptions that may not even apply to you at all. You might be 40 with a motgage and a car loan with 20 years of other types of credit, I just don't have any way of knowing. If you have a lengthy credit history with debts other than cards, any advise I give you might be different. I hope this helps, but if not, I gave the best advice I could with what you posted, based on my assumptions of other debt.

[sarge12]

OP...I forgot to add...you said you did not know what was relevent for credit scores. Vantage 3.0 scores are real credit scores. They are real scores that no lenders or credit card issuers ever pull, so even though they are real scores, they are not relevent. They are worth what you pay for them, which is nothing, barely. Also do not get tangled in the weeds on any of these ridiculous credit estimators that you enter an action for it to predict how it will affect your scores. They are all wrong more often than they are right, and that includes the one on myfico site. They are even worth less than the Vantage 3.0 scores. There are just too many variables in credit profiles to make predictions. The members here are often very experienced with credit issues, but we cannot say for sure if applying for a card will be a bad move. We just draw on our own experience as well as reading many thousands of discussions here where others have shared their own experinces. We are all guessing, but it is usually educated guesses. My best guess is to wait till the first card is 12 months old in September. It is just an educated guess though, and is not even very educated if I am making the wrong assumptions of any other credit you have.

[AverageJoesCredit]

Credit Karma does not give Experian scores, only TU and EQ