Application Timing

[Anonymous]

Hey all,

I think I am going to start applying for a mix of store and credit cards in May or June to build up more history and help my overall utilization. The only individual open card is through GEMB which is a store card with 0.00 balance. I am a AU on 2 others with my wife. Also have Mortgage and Auto loan, the Auto will be paid this year.

I have one baddie from 2005 that will come off in 2011.

Been perfect since Sept 2005.

My TU FICO is 726

EQ - 706

EX - ????

The only cards I am thinking of applying is State Farm Visa ( More likely they will pull TU and I have insurance through them ) Also thinking of applying for Best Buy ( The store card ) and if I am feeling lucky then also Paypal Buyers Credit. If denied with SF then I will try a local CU or do a recon. But will stop if those don't work.

 Should I go right for the Visa first or Store Card first? Should I do them a few days or a few weeks apart. I am willing to take the inq hit. Just need to start getting my credit up.

Thanks.

Message Edited by kay9 on 04-30-2009 03:00 PM

[Creditaddict]

visa first.

apply for either paypal visa or ebay mastercard, if you don't qualify for them, you get the paypal buyer credit.

since you have GE already, you should be in for other GE cards. 

[Anonymous]

Thank you for the quick response.  I seem to have luck with GEMB Here are the following GEMB accounts I have open but closed once I paid off. That will change from reading this forum and others that it is good to keep open the accounts but watch your utilization. I was in a routine to open an account due to the nice financing offers then once I have paid them off within the promotion ending period I would then close it. That has got to stop.

GEMB/Discount Tires - Opened 02/2007, $618 balance, paid in full and closed/never late 07/2007

GEMB/Pep Boys - Opened 03/2007, 232 high balance, paid in full and close/never late 09/2007

GEMB/Sam's Club - Opened 03/2007, 1580 high balance, paid in full and closed/never late 09/2007

GEMB/COUNTRY HOME - Opened 02/2009, High Balance, $1358, paid in full 04/2009 - Still Open.

What about Best Buy store card? They have some good financing offers.

[Creditaddict]

The store card is good, I wouldn't bother with the Mastercard. Both backed by HSBC