Scared & Confused

[Open123]

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@Anonymous wrote:
Finally got my scores in the 700s, TU 727 and EQ 708, but to be quite honest scared to apply for any cards as barclays denied me and discover did aswell back when I was at a 681. I currently have a boa secured card $400 and capital one $300. Should I just relax for now and not apply? Any advice?

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Depends on how long you've been using and paying your current B of A and Cap One.  If it were me, I'd do the following:

1.  Use and pay both cards by running all of your bills through them.  Pay several times per month if you have to, but show high usage on each card.

2.  At 6 months of perfect payment history, apply for the Amex PRG with first year fee waived.  Approved, great!  Declined, no problem, and a small matter.

3.  Unsecure B of A at month 10 - 12 with CLI (hopefully).

4.  With 12 months of perfect payment history and high usage, apply for 1. Chase Freedom  2.  Discover IT  3.  Amex charge (if denied).

You will be approved for at least 2, if not all three.

Then, close any toy limit cards with an annual fee.  In another 6 months, CLIs on all your cards.  Then, in another 6 months (with 2 years history with Amex, B of A, Chase, and Discover), app for anything you want.

Best of luck!

[calihlove75]

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@Anonymous wrote:
Finally got my scores in the 700s, TU 727 and EQ 708, but to be quite honest scared to apply for any cards as barclays denied me and discover did aswell back when I was at a 681. I currently have a boa secured card $400 and capital one $300. Should I just relax for now and not apply? Any advice?

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That was then..this is now! How long ago did you apply with Discover and what was their denial reasons?Did you recon using backdoor number?

You have had your cards 1 year, you have brought your utility down, etc. Your scores are decent.Honestly,  If it were me, I would apply for Chase Freedom and Discover it now and RECON both if denied. You bank with Chase so use that as your leverage. Do you have baddies? If so plan to explain those and just really go to bat for yourself.

[SnackTrader]

Getting the BofA unsecured is step #1. You may have to wait a few more months, but that will be helpful for your wallet.

Getting a CLI on the Capital One is step #2. If that happens, wait until the new credit line reports to the bureaus before applying for anything.

Step #3 is identifying a long term plan. Just applying because you want to apply is useless and will slow down your progress. You don't want to get unnecessary cards or inquiries.

So, I would say you have a month or two before applying with all of this going on. It will be hard to wait, but will be very worth it if you can get that CapOne up to a higher limit.

[calihlove75]

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@SnackTrader wrote:
Getting the BofA unsecured is step #1. You may have to wait a few more months, but that will be helpful for your wallet.

Getting a CLI on the Capital One is step #2. If that happens, wait until the new credit line reports to the bureaus before applying for anything.

Step #3 is identifying a long term plan. Just applying because you want to apply is useless and will slow down your progress. You don't want to get unnecessary cards or inquiries.

So, I would say you have a month or two before applying with all of this going on. It will be hard to wait, but will be very worth it if you can get that CapOne up to a higher limit.

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This is great advice. You def want to see about unsecuring the BOA and email Cap One Exec about a CLI  (people on here have had great luck via soft pull). This could mean a higher limit and better terms.

[Anonymous]

For the 1.5% cash back. I don't think it will be another $300 limit. I was approved for $2000 and received a $500 increase in Feb. I spend about $1500-$2000 per month and I have earned $140 in cash back since July. I think it is a decent card to have.