Should I app for a new card or continue to garden?

[lambo003]

I was thinking of applying for a new credit card to build my history but some people say don't apply for credit if you don't necessarily need it. I was considering the American Express Blue Cash Everyday card but I don't want to get denied and have an unecessary hard pull. I work part time and I hear having a high salary is also important when applying for that card. Currently, my Equifax score is 768, Transunion 766, and I don't know my Experian (it's usually the highest out of the three). My AAoA is some where between 1 and 2 years (not exactly sure how to calculate it). I have no baddies on my profile but I do have balances on two out of three of my credit cards. I was interested in a card with low ongoing interest rate but if I app for the AMEX I would want the BCE. Any advice or suggestions? If any other info is needed, let me know. Thanks!

[Anonymous]

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@lambo003 wrote:

I was thinking of applying for a new credit card to build my history but some people say don't apply for credit if you don't necessarily need it. I was considering the American Express Blue Cash Everyday card but I don't want to get denied and have an unecessary hard pull. I work part time and I hear having a high salary is also important when applying for that card. Currently, my Equifax score is 768, Transunion 766, and I don't know my Experian (it's usually the highest out of the three). My AAoA is some where between 1 and 2 years (not exactly sure how to calculate it). I have no baddies on my profile but I do have balances on two out of three of my credit cards. I was interested in a card with low ongoing interest rate but if I app for the AMEX I would want the BCE. Any advice or suggestions? If any other info is needed, let me know. Thanks!

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inquiries on each? current cards and limits? your scores look good to me, amex likes clean thin files...

Also, if you do apply, and can afford spending 333 a month for 3 months, please use the same inquiry for a Amex Prg... 50k bonus points... you may want to consider going for the amex ED instead of BCE, as it only earns 3 percent in cash back. Even if you only take one vacation a year, the ED has a return avg of 4.8 percent at grocery stores (2.4 points per dollar at groceries x mr point value avg of 2 cents per point). You may have a ED targeted bonus of up to 25k points.... so yeah... not to mention 200 bucks in free airline gift cards on PRG. cancel after 51 weeks. (charge card must be paid in full every month)

[Anonymous]

It depends on what you mean by needing credit. In terms of dollars, the time to apply is well before you need it. By the time you need it, you won't qualify for it. However, if you mean applying for cards that you don't have a use for, I agree you shouldn't do that. Therefore, the question is: will this card serve a purpose for you? If not, gardening is a good idea. If it does, well, you were probably going to garden for 6 months anyway, so you don't really lose anything by trying. 

[SouthJamaica]

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@lambo003 wrote:

I was thinking of applying for a new credit card to build my history but some people say don't apply for credit if you don't necessarily need it. I was considering the American Express Blue Cash Everyday card but I don't want to get denied and have an unecessary hard pull. I work part time and I hear having a high salary is also important when applying for that card. Currently, my Equifax score is 768, Transunion 766, and I don't know my Experian (it's usually the highest out of the three). My AAoA is some where between 1 and 2 years (not exactly sure how to calculate it). I have no baddies on my profile but I do have balances on two out of three of my credit cards. I was interested in a card with low ongoing interest rate but if I app for the AMEX I would want the BCE. Any advice or suggestions? If any other info is needed, let me know. Thanks!

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If your Experian score is as high as the others, you're a shoo-in.

[lambo003]

My bank of America card has a limit of $1500 and a balance of $244. Discover it limit $2000 and a balance of $410. Tfcu limit $500 and $0 balance. I know I have 1 inquiry on experian. Maybe two on transunion and eqifax.

[Anonymous]

did you check their prequal page? it will tell you the APR and bonus... ED up to 25k points... BC up to $250

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@lambo003 wrote:
My bank of America card has a limit of $1500 and a balance of $244. Discover it limit $2000 and a balance of $410. Tfcu limit $500 and $0 balance. I know I have 1 inquiry on experian. Maybe two on transunion and eqifax.

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[lambo003]

Yes I did. It said they had no prequalifed offers for me but it said the following three cards would be best for me (Amex Everyday, Amex Prg, and Amex Blue cash preferred). I also have an auto loan ($18,900). 

[lambo003]

I decided to hold my breathe and app for the Barclay Master Ring card and was approved instantly with a $5,000 credit limit ! The highest I've ever received. I didn't think I'd get approved and at that credit limit.  I thank this community for my success thus far. 

[Anonymous]

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@lambo003 wrote:

I decided to hold my breathe and app for the Barclay Master Ring card and was approved instantly with a $5,000 credit limit ! The highest I've ever received. I didn't think I'd get approved and at that credit limit.  I thank this community for my success thus far. 

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AWESOME! That is a decent starting limit with that card and hope to have one day myself! Only $3 for a cash advance, and no BT fees ever (great for debt shuffle if it was required)

You should use that one barclay inquiry to your advantage as they combine.....

Salliemae would be good, 5% off 250/mo gas and groceries and 5%off 750/mo amazon

Or some travel card with a sign on bonus 

[lambo003]

So your saying if I apply for a Sallienap credit card also today then it would count as one inquiry and HP for both barclay and salliemae?