Is applying for a new card a good idea?

JamieLauries · ‎04-15-2018

I’m 19 I got my first credit card a year ago. A Cap1 platinum unsecured with a SL of $300 and got auto CLI’s up to 1k. My scores are 740 FICO and 703-709 TU and EQ. I have two inquiries from last year (2017)and by next year (2019) I would like to apply for the AMEX BCE or BCP And I wanted to know if that would be a good idea as I’m trying to build up my credit enough by July of next year to get a good deal on a car. As of now my approval odds for the BCE/P are “excellent”. But if there’s another card that would help build of my credit better/faster please let me know. Again looking to apply next year not this year. Thanks for the help. Also not worried about the AF on the BCP

Also I usually have high balances but I pay them in full

jaeski33 · ‎04-15-2018

With your scores currently, I would go for Chase Freedom Card first. Glad to see you're planning/mapping out your credit route.

Current Scores 10/11/2019
TU 724 Inq 20, EX 699 Inq 15, EQ 743 Inq 8 -- UTL 4% FICO 9 757
[Previous] 10/05/2018
EQ F8 [696] 5 Inqs, EX F8 [666] 14 Inqs,
TU Fico 8 [702] 18 Inqs.
Gardening since 11/08/2018.
EQ-Fico 8 [699] EX-Fico 8 [639] TU-Fico 8[652]
UTI 14% NFCU Flagship $6K, Care Credit $20K, TFCU Platinum Visa $20K, DCU Rewards Visa 10K, USAA Platinum Visa 6K, Costco Visa $7.5K, NFCU AMEX $15K, Citi Rewards+ $16,800, Wells Fargo Cash Wise 9.5K, Barclays AAdvantage MC $2K, NFCU GoRewards 10K, Home Depot Commercial $1k, Best Buy Visa $15k, ExxonCard $1500, PenFed Visa Sig $10k, NFCU CLOC $10K, Boscov's $13.3K, Overstock $12.5k, Sportmans $3900, Amex Cash Magnet $1500, Amex Bonvoy 2K, BarClay Arrival $2k, DiscoverIT $16k, AmazonCard $6000, PayPal MC 8K, Mercury MC $5.5K, CapOne Silver $16.5K, Lowes Credit $25K, Wal-Mart Store Card $9K, Wayfair $14.4K

JamieLauries · ‎04-15-2018

Thanks for the tip. Forgot to mention I just upgraded today to a quicksilver

SouthJamaica · ‎04-15-2018

@JamieLauries wrote:
I’m 19 I got my first credit card a year ago. A Cap1 platinum unsecured with a SL of $300 and got auto CLI’s up to 1k. My scores are 740 FICO and 703-709 TU and EQ. I have two inquiries from last year (2017)and by next year (2019) I would like to apply for the AMEX BCE or BCP And I wanted to know if that would be a good idea as I’m trying to build up my credit enough by July of next year to get a good deal on a car. As of now my approval odds for the BCE/P are “excellent”. But if there’s another card that would help build of my credit better/faster please let me know. Again looking to apply next year not this year. Thanks for the help. Also not worried about the AF on the BCP

Also I usually have high balances but I pay them in full

One card is as good as another for building your credit, so you should just pick the card that would be most useful to you.