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Applying for 3 card at once

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Themanwhocan
Senior Contributor

Re: Applying for 3 cards at once


@Raycarv1 wrote:

hello all.

thanx for your replies.

Here is a more complete picture of my finances: 15 year credit history. Cap One quicksilvver one: CL $3000, balance $600. Chevron Gas card CL 800, balance $75. One collection from 2008 for $328. Two 90 days late from 2010. Four years of not missing a payment on any acct. Five months into a 3-year car payment. 3 INQ, all within 20 days. (12/2013)

 

You noted that Barclay is INQ sensitivity. Is three too many? And regarding AMEX, would the above derogs be considered "recent?"

 

I would like to apply for the Barclay Ring and the AMEX Everyday, but I don't have to have them right now. I can wait.

 

Do you think the above derogs would make it difficult to get the cards.

 

I am thinking if I wait until my score is around 730 or so, with no INQ , the importance of the derogs when I apply would be minimized. What do you think?

 

Fico: Trans 710; Equifax 695; Experian 690

 


Before applying for anything, pay down your credit cards so that all have reported to the credit bureaus with a $0 balance, except one which should have between 1% and 9% usage. This will improve your FICO credit scores. You just need to do this before applying for new credit.

 

Next, when did you obtain each of your current credit cards? If you have one that is at least a year old, and haven't obtained a card in 6 months, I'd say you were in pretty good shape once you fix your credit card balances.





TU-8: 804 EX-8: 805 EQ-8: 788 EX-98: 767 EQ-04: 752    
TU-9 Bankcard: 837 EQ-9: 823 EX-9 Bankcard: 837
Total $443,800
Message 11 of 13
lhcole77
Valued Contributor

Re: Applying for 3 cards at once

I say there's no harm in waiting. If you feel your chances are better later in the year, then wait. Listen to your gut.

Message 12 of 13
Raycarv1
Member

Re: Applying for 3 cards at once

 

 

I am generally conservative with credit cards and applying for credit and being in too much debt.  Paying down my balances, allowing my score to improve and then applying for credit is more in line with my credit temperment.

 

Why I like the Barclay Ring: It's 8% APR, no to low fee structure. great card for emergencies or large purchases. Not intended to be a rewards cards, just a solid, low interest, no fee card. 

 

So I will wait for about 6 months and apply for the AMEX Everyday and the Barclay Ring. And as recommended by forum I will ask Cap One to upgrade me from the quicksilver one MC to the Cap One Quicksilver Visa.

 

I will let you guys know how it goes.

 

Thanx everybody

 

Message 13 of 13
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