Pre quallified for Chase advice please

[Anonymous]

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@Anonymous wrote:
Thanks starz... I've taken everyone's advice... You've all helped me feel a little more confident for when I apply for the refinance...

I won't be applying for anymore cards until after I get a my refinance loan taken care of...

As of tonight I brought my utilization down to $937 out of $7,000 credit limit which brings me to about 14% utilization.

I tried my luck and got 200$ increase which brought my total credit lines to $7000 it was $6800 so any bit helps...

I feel that I'm prepared!

I'll be happy w/ 10% apr rather than 19% but if I get any thing under 8% apt I am throwing a party! ☺️

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Let us know how it goes so we can all give you high fives. A win for one feels like a win for everyone! Good Luck

[Anonymous]

Exactly starz. I had like 9 inquiries in a few months and then ONE MORE brought me down 30 points so you don't want that ONE MORE to ruin your APR chances. Of course like 3 months later it bounced back but you want this done in a month. Just help yourself honestly. I wouldn't tell a family member to get a card first so I wouldn't tell you to. As stated, you're the one that has to live with the profile.

[CreditDunce]

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@Anonymous wrote:

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@CreditDunce wrote:

I think you could get away with adding one more account without hurting your score that much.  One more TL should not drop your AAoA below the 1 year mark.  When you are ready to re-fi (I am assuming you are waiting to pretty up your credit report before the re-fi),   apply for the freedom or slate.  Just in case Chase denies you for 5/24, I would have a backup card to apply for.  Something like Barclay rewards card, Discover IT, etc.  If you get denied, it isn't a big deal.  Just hang out in the garden for a year and try again.

Note: By pretty-up, I mean all but one credit card report zero balance.  The one with a balance should have less than 10% utilization showing. 

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I completely disagree (If you are saying it is ok to apply for the card before refi) and am feel like the default advice sometimes is to "go for it". given the short timeframe, regardless of what "might" happen, the prudent thing is to wait. If one cannot wait 30days to apply for a credit card in order to ensure they are in the best possible place for a refi I would question their overall credit judgement.

While we can all sit here as potificate that 1 more inquiry will not hurt, the OP is the one that has to deal with the consequences. What if that 1 inquriy for the CU meant the difference between a 6% loan and a 10% loan.

OP, while you may get it and it may not hurt you just never know. The Chase cards will always be there. Don't risk your ability to get that 19% APR down and save yourself some cash....

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Please re-read my advice.  I am advising the OP to do them all at the same time.  As in apply for the re-fi.   Once the HP hits, then apply for one or two credit cards.  I don't think re-fi'g the car will affect the OP's credit score much, but it is better to apply for the CC's before the re-fi hits the OP's reports.

[Anonymous]

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@CreditDunce wrote:

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@Anonymous wrote:

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@CreditDunce wrote:

I think you could get away with adding one more account without hurting your score that much.  One more TL should not drop your AAoA below the 1 year mark.  When you are ready to re-fi (I am assuming you are waiting to pretty up your credit report before the re-fi),   apply for the freedom or slate.  Just in case Chase denies you for 5/24, I would have a backup card to apply for.  Something like Barclay rewards card, Discover IT, etc.  If you get denied, it isn't a big deal.  Just hang out in the garden for a year and try again.

Note: By pretty-up, I mean all but one credit card report zero balance.  The one with a balance should have less than 10% utilization showing. 

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I completely disagree (If you are saying it is ok to apply for the card before refi) and am feel like the default advice sometimes is to "go for it". given the short timeframe, regardless of what "might" happen, the prudent thing is to wait. If one cannot wait 30days to apply for a credit card in order to ensure they are in the best possible place for a refi I would question their overall credit judgement.

While we can all sit here as potificate that 1 more inquiry will not hurt, the OP is the one that has to deal with the consequences. What if that 1 inquriy for the CU meant the difference between a 6% loan and a 10% loan.

OP, while you may get it and it may not hurt you just never know. The Chase cards will always be there. Don't risk your ability to get that 19% APR down and save yourself some cash....

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Please re-read my advice.  I am advising the OP to do them all at the same time.  As in apply for the re-fi.   Once the HP hits, then apply for one or two credit cards.  I don't think re-fi'g the car will affect the OP's credit score much, but it is better to apply for the CC's before the re-fi hits the OP's reports.

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Thats why I put in () "if you are saying" You first line threw me off with the :you could get away with adding one more account".. Apologies for the misreadd of your statement.

[CreditDunce]

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@Anonymous wrote:

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@CreditDunce wrote:

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@Anonymous wrote:

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@CreditDunce wrote:

I think you could get away with adding one more account without hurting your score that much.  One more TL should not drop your AAoA below the 1 year mark.  When you are ready to re-fi (I am assuming you are waiting to pretty up your credit report before the re-fi),   apply for the freedom or slate.  Just in case Chase denies you for 5/24, I would have a backup card to apply for.  Something like Barclay rewards card, Discover IT, etc.  If you get denied, it isn't a big deal.  Just hang out in the garden for a year and try again.

Note: By pretty-up, I mean all but one credit card report zero balance.  The one with a balance should have less than 10% utilization showing. 

---

I completely disagree (If you are saying it is ok to apply for the card before refi) and am feel like the default advice sometimes is to "go for it". given the short timeframe, regardless of what "might" happen, the prudent thing is to wait. If one cannot wait 30days to apply for a credit card in order to ensure they are in the best possible place for a refi I would question their overall credit judgement.

While we can all sit here as potificate that 1 more inquiry will not hurt, the OP is the one that has to deal with the consequences. What if that 1 inquriy for the CU meant the difference between a 6% loan and a 10% loan.

OP, while you may get it and it may not hurt you just never know. The Chase cards will always be there. Don't risk your ability to get that 19% APR down and save yourself some cash....

---

Please re-read my advice.  I am advising the OP to do them all at the same time.  As in apply for the re-fi.   Once the HP hits, then apply for one or two credit cards.  I don't think re-fi'g the car will affect the OP's credit score much, but it is better to apply for the CC's before the re-fi hits the OP's reports.

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Thats why I put in () "if you are saying" You first line threw me off with the :you could get away with adding one more account".. Apologies for the misreadd of your statement.

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Sorry, I didn't mean to be too harsh.   My little line about the OP probably could get away with adding a new account actually referred to the re-fi.  The OP's current installment util is around 85%.  I don't think their AAoA would drop below 1 year with one additional account.  They already have a slew of new accounts.  Which should mean the re-fi will not hurt their score very much.  However, with a marginal score, it is best to not take chances.  We actually don't know their FICO scores, but I am assuming they are close to the VS 3 score in the OP.