To apply or not to apply...that is the question.

[GeneralCucumbre]

So, I am fairly new to these forums and since April of this year I have gone on what many of you would call an "app spree" (I am still learning terminology).  I have been building credit now since June of 2007 (so for 5 years now...I am 23 years old).  Since this past April, I have applied for and opened all of the following accounts:

• April 2012-Chase Sapphire Visa Signature ($10,300 CL)
• April 2012-Citi AAdvantage World MasterCard ($4,000 CL) (Considering closing due to AF)
• May 2012-American Express Green Card (CLOSED two weeks later after realizing AF...was also backdated to 2009 due to previous AMEX account)
• June 2012-USAA World MasterCard ($6,000 CL)

Now, I am considering to apply for a Discover More Card (I was a previous cardmember back in 2009 but I closed it because it had a low credit limit and rather high APR).  Part of me wants to apply, but the other part says to go into "the garden".

My open accounts picture currently looks like this (older accounts listed first):

• Opened June 2007-Chase Slate MasterCard ($1,000 CL) - (Then, it was a Chase Platinum MasterCard)
• Opened Nov. 2008-Toyota Rewards Visa ($2,300 CL)
• Opened May 2009-American Express Green Card (CLOSED...but still showing as open on my reports)
• Opened Dec. 2009-Amazon.com Store Card ($3,800 CL)
• Opened April 2010-Newegg.com Store Card ($6,400 CL) - (I know this doesn't report to the bureaus...just threw it in anyway)
• Opened April 2011-Citi Dividend Visa Signature ($7,000 CL)
• Opened Dec. 2011-BestBuy Store Card ($1,850 CL)
• Opened April 2012-Chase Sapphire Visa Signature ($10,300 CL)
• Opened April 2012-Citi AAdvantage World MasterCard ($4,000 CL)
• Opened June 2012-USAA World MasterCard ($6,000 CL)

I am considering closing the Citi AAdvantage World MasterCard and the Toyota Rewards Visa, provided being approved for the Discover Card.  The Best Buy card will be closed as soon as that account is paid off...I do not want to have anything to do with Capital One.  I just pulled my reports today and my current scores are:

• Experian:742
• Equifax:728
• TransUnion:737

I also have a few inquiries listed...7 total from Experian (3 since April), 10 total from Equifax (4 since April), 3 total from TransUnion (0 since April...but 1 in March).  Also, a few of these inquiries are from the same company pulling for the same application but on different bureaus (for example, when applying for the Sapphire...Chase pulled both Equifax and Experian).

So...the big question I ask again is, should I pull the trigger on the Discover Card given my current credit picture?  How likely is it that I will be approved given new accounts opened and recent inquiries?  Is Discover picky about new accounts and recent inquiries?  Once again, I appreciate any and all feedback provided.

[LS2982]

I would not. Garden for at least 6 months to a year.

[android01]

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@GeneralCucumbre wrote:

So, I am fairly new to these forums and since April of this year I have gone on what many of you would call an "app spree" (I am still learning terminology).  I have been building credit now since June of 2007 (so for 5 years now...I am 23 years old).  Since this past April, I have applied for and opened all of the following accounts:

• April 2012-Chase Sapphire Visa Signature ($10,300 CL)
• April 2012-Citi AAdvantage World MasterCard ($4,000 CL) (Considering closing due to AF)
• May 2012-American Express Green Card (CLOSED two weeks later after realizing AF...was also backdated to 2009 due to previous AMEX account)
• June 2012-USAA World MasterCard ($6,000 CL)

Now, I am considering to apply for a Discover More Card (I was a previous cardmember back in 2009 but I closed it because it had a low credit limit and rather high APR).  Part of me wants to apply, but the other part says to go into "the garden".

My open accounts picture currently looks like this (older accounts listed first):

• Opened June 2007-Chase Slate MasterCard ($1,000 CL) - (Then, it was a Chase Platinum MasterCard)
• Opened Nov. 2008-Toyota Rewards Visa ($2,300 CL)
• Opened May 2009-American Express Green Card (CLOSED...but still showing as open on my reports)
• Opened Dec. 2009-Amazon.com Store Card ($3,800 CL)
• Opened April 2010-Newegg.com Store Card ($6,400 CL) - (I know this doesn't report to the bureaus...just threw it in anyway)
• Opened April 2011-Citi Dividend Visa Signature ($7,000 CL)
• Opened Dec. 2011-BestBuy Store Card ($1,850 CL)
• Opened April 2012-Chase Sapphire Visa Signature ($10,300 CL)
• Opened April 2012-Citi AAdvantage World MasterCard ($4,000 CL)
• Opened June 2012-USAA World MasterCard ($6,000 CL)

I am considering closing the Citi AAdvantage World MasterCard and the Toyota Rewards Visa, provided being approved for the Discover Card.  The Best Buy card will be closed as soon as that account is paid off...I do not want to have anything to do with Capital One.  I just pulled my reports today and my current scores are:

• Experian:742
• Equifax:728
• TransUnion:737

I also have a few inquiries listed...7 total from Experian (3 since April), 10 total from Equifax (4 since April), 3 total from TransUnion (0 since April...but 1 in March).  Also, a few of these inquiries are from the same company pulling for the same application but on different bureaus (for example, when applying for the Sapphire...Chase pulled both Equifax and Experian).

So...the big question I ask again is, should I pull the trigger on the Discover Card given my current credit picture?  How likely is it that I will be approved given new accounts opened and recent inquiries?  Is Discover picky about new accounts and recent inquiries?  Once again, I appreciate any and all feedback provided.

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I'm all for having lots of available credit, but I think a break is in order until at least June 2013.  The longer the better.

Use what you have and build some history.  Go for CLI's.  Having a Discover card isn't going to add anyhting appreciable to what you already have, IF you can even use what you already have, especially because you already have some really nice cards with good rewards.  

[skyisthelimit]

Just Garden, leave all your accounts open and in good standing; what is the real "want or need' for the Discover card or any other trade line?  Allow your accounts to age another 1-2 years, then your see reductions in APR and better offers (0% etc).  GO to the GARDEN you have a Great Wallet, put some age on it now!