Cap One Says I Am Pre-Approved for a Venture X Card.

[ThomasJNewton]

My FICO score should improve when my NFCU card  reports, as my utilization on my personal cards will drop substantially. I am 8 months out from my Chase United Quest Card ($19,000 credit line $0 reporting), and 9 years (as of tomorrow) for my NFCU Cash Rewards card ($30,000 line, currently at $20,000 used, that will be down to $9,000 on the 15th).

Is there an advantage to waiting or should I go ahead and get it sooner?

Any advantage to waiting until my Quest card hits one year?

[Jeffster1]

If it were me, I'd wait until I paid down the NFCU balance, and the paid-down balance was reporting on all 3. 

[CorpCrMgr1]

I agree with paying it down and waiting. Better odds. Good luck!

[nytokyobred79]

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@ThomasJNewton wrote:

My FICO score should improve when my NFCU card  reports, as my utilization on my personal cards will drop substantially. I am 8 months out from my Chase United Quest Card ($19,000 credit line $0 reporting), and 9 years (as of tomorrow) for my NFCU Cash Rewards card ($30,000 line, currently at $20,000 used, that will be down to $9,000 on the 15th).

Is there an advantage to waiting or should I go ahead and get it sooner?

Any advantage to waiting until my Quest card hits one year?

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I suppose if you want to get an even better APR rate if that's a concern for you, waiting till your Chase card turns a year old would make your AoYA 12 months  and give you a slight score boost ( assuming you have no other cards under a year old). And NFCU balance may be paid down more. Just my two cents on that part of your question 

[SouthJamaica]

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@nytokyobred79 wrote:

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@ThomasJNewton wrote:

My FICO score should improve when my NFCU card  reports, as my utilization on my personal cards will drop substantially. I am 8 months out from my Chase United Quest Card ($19,000 credit line $0 reporting), and 9 years (as of tomorrow) for my NFCU Cash Rewards card ($30,000 line, currently at $20,000 used, that will be down to $9,000 on the 15th).

Is there an advantage to waiting or should I go ahead and get it sooner?

Any advantage to waiting until my Quest card hits one year?

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I suppose if you want to get an even better APR rate if that's a concern for you, waiting till your Chase card turns a year old would make your AoYA 12 months  and give you a slight score boost ( assuming you have no other cards under a year old). And NFCU balance may be paid down more. Just my two cents on that part of your question 

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I agree with @Jeffster1 @CorpCrMgr1 and @nytokyobred79   You would be well advised to wait. The NFCU utilization is high.

[ThomasJNewton]

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@SouthJamaica wrote:I agree with @Jeffster1 @CorpCrMgr1 and @nytokyobred79   You would be well advised to wait. The NFCU utilization is high.

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How long would you suggest I wait? Until May when my Quest card is one year old? Just until my NFCU is substantially paid down? I have no urgent need for the card, it would just be nice to have, so waiting is not a problem at all.

What is the highest my NFCU balance can be without causing a problem? I can easily pay it down to under $10,000 (under 29%), it would take a bit more effort to get it to $0.

[SouthJamaica]

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@ThomasJNewton wrote:

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@SouthJamaica wrote:I agree with @Jeffster1 @CorpCrMgr1 and @nytokyobred79   You would be well advised to wait. The NFCU utilization is high.

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How long would you suggest I wait? Until May when my Quest card is one year old? Just until my NFCU is substantially paid down? I have no urgent need for the card, it would just be nice to have, so waiting is not a problem at all.

What is the highest my NFCU balance can be without causing a problem? I can easily pay it down to under $10,000 (under 29%), it would take a bit more effort to get it to $0.

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$8400 (28%) or less would be good. But you would need to make sure it's fully reported, and that it will come up in a soft pull if Chase is using a soft pull.

[ThomasJNewton]

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@SouthJamaica wrote:

$8400 (28%) or less would be good. But you would need to make sure it's fully reported, and that it will come up in a soft pull if Chase is using a soft pull.

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@SouthJamaica 
That is easy enough to hit. I presume you mean CapOne, not Chase? Also, how long should I wait? I can wait until NFCU reports, one month after it reports, or after my Quest hits one year?

[SouthJamaica]

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@ThomasJNewton wrote:

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@SouthJamaica wrote:

$8400 (28%) or less would be good. But you would need to make sure it's fully reported, and that it will come up in a soft pull if Chase is using a soft pull.

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@SouthJamaica 
That is easy enough to hit. I presume you mean CapOne, not Chase? Also, how long should I wait? I can wait until NFCU reports, one month after it reports, or after my Quest hits one year?

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No, I meant Chase.  I thought you said you want to apply for the Chase United Quest card.

In any event, what I said would apply to whichever lender you're planning on applying to next.

[ThomasJNewton]

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@SouthJamaica wrote:

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No, I meant Chase.  I thought you said you want to apply for the Chase United Quest card.

Nope. :-) My Chase United Quest card is my most recent card, issued in May of last year. That is why I was asking how long I should wait until I apply. CapOne said I was pre-approved for their Venture X card, and that is what I am considering. :-)

In any event, what I said would apply to whichever lender you're planning on applying to next.

Your point does remind me of something that I thought I had read on here, was that CapOne does not always do a new soft pull for pre-approval. Is there any way to ensure they do a new pull?