Icbark -
Opting out does not limit a creditors ability to pull your credit when you apply for credit. It just "opts" out of promotional offers being sent to you. You have to "lock" your credit files in order to restrict access.
You all ready have two major cards (Chase & BofA) and two store cards, which at your point I believe is adequate. You don't need a JC Penney card to shop at JC Penney. You didn't mention what your balances and utilization is.
The question you must ask: Why apply for this card? What are the benefits? How does it help me with my long term credit and financial goals?
Increasing the number of inquiries and lowering your Average Age of Accounts for Penney's card is a bad idea, in my opinion. Let the accounts age. Get the BofA unsecure. Work on increasing those CL over time. Keep your payments timely and pay much more than minimums (hopefully PIF except small balance on 1 card).
Contact Chase in the next 6 months and see about a Product change. Go for a lower APR and waived annual fee if you have AF. This will help your score and credit.
Then look at real credit you will need, like an auto loan and begin SAVING money for a down payment toward whatever your next planned major purchase will be.
When you decide to make a new app, make it with a good Credit Union, who will serve many needs, like low rate auto and home loans and great credit cards.
Don't get in such a hurry. Go for long term benefits, not quick easy credit.
Message Edited by txjohn on 03-26-2009 08:55 AM
