Should I App for Venture or wait

[Bgillion]

I read the board alot but this is my first post. I want to app for the venture card but I have opened 7 new accounts in the past 3 weeks. I was approved for

Hawaiian airlines 16k

Chase Saphire Prefered 17.5k

UBS prefered Visa 19.5k

Citi AA 5k

Regions 5k

priceline 5k

Amex Gold Business NPSL

Denied

Penfed *not enough credit history

Wells fargo *wanted 4506

Amex plum * score not high enough

Ive always used cash my whole life with the exception of being a AU on my company centurian card since 2007. Thats the only CC that i use.  I had no other credit cards before these approvals. I am a AU on 3 other cards with perfect payment history and 7 percent util. All of those cards go back 15years.

my fico scores are TU757 EX678 EQ747 I have 2 inq's on EQ 4 inq's on TU and 7 inq's on EX my income is 110k

I have been reading so much about AA on this site. Do you guys feel Barclays or Chase would flip if I apply for the Venure card. Im mean I have opened 7 new accounts. Since i got the cards I have already cancelled the priceline card and I am going to cancel regions card. I just dont see myself using them.  I know  with cap one its 3 HP's do you guys feel I would get approved? Do you feel its worth me doing the app and sitting back and letting my accounts age. Any advice would be greatly appreciated

[Anonymous]

How'd you get denied from penfed with that reason when you have all those cards?

[kdm31091]

If you are asking yourself if you should wait you probably know the answer is yes.

7 accounts in 3 weeks is a lot for any credit profile. Give it more time. Those accounts havent even reported yet. You dont want to risk any AA or anything. The venture isnt going anywhere. Just wait. At least 3 or 6 months. Preferably longer

[Bgillion]

i got all those cards withing the last couple of weeks. None of those cards were reporting at the time. I only had AU tradelines on my account. and 1 furniture account that is 1.5 years old. It was my only primary tradeline

[OmarGB9]

I'd wait to avoid possible AA on your existing cards. 7 cards in 2 weeks when you're just starting out is a lot.

[Anonymous]

It's probably not the best to apply so close to previous apps. "app sprees" are best done on the same day, at the same time.

That said, you could go to the pre-qualify site for Cap 1 and see if you're pre-approved for Venture. Check the interest rate in the prequalify - if you're prequalified for 17.9% (the lower interest), then there's a good chance you'll get a great limit to start out with. If you get 22.9% but are still pre-approved, you'll probably get $10k.

So I suggest waiting 6 months after your last app, but if you can't stand it, check the pre-qualify. If you are NOT prequalified, I would DEFINITELY wait, given all the new cards...

[Anonymous]

p.s. - it's really strange your Ex score is 100 points lower than the others (that's why your score was too low for Plum)

Unless there's something bad you know of in your Ex report, I'd check into that - there may be something there you need to dispute...

[Bgillion]

yes, on my EX file i have a 90 day late mortgage payment and it was eventually charged off. Its from 4 years ago. Only negative info on any of my reports

[Anonymous]

7 cards is a lot in a short period of time, but I can't talk because I have done worse. Check Capital One's pre-qualifier site and see if the Venture comes up for you.

[Anonymous]

---

@Anonymous wrote:

Check the interest rate in the prequalify - if you're prequalified for 17.9% (the lower interest), then there's a good chance you'll get a great limit to start out with. If you get

---

Is there a definite correlation between rate quoted and starting limit?

If so, what does a 12.9% QS or 12.9% Venture equate to in SL?

And what are the chances of getting both with a single tripe pull?