What cards might I be approved for?

[Anonymous]

I am wondering what cards might I be approved with my credit profile, I know I will still have to apply for anything and might not get approved. But I would like to get some suggestions.

I have 1 Visa Unscured Credit Card wiht a $1,000 CL, and %46 Utilization and 1 Mastercard Secured Credit card with $500 CL, with 0% Utilization

 1 FingerHut Store Card wiuth $600 CL, %0 Utilization.

TU Score 658 EQ score 662

9 Credit Inquires withTransUnion and 14 with Equifax, and I assume Experian is somewhere around those numbers too. (About 4 of these inquires were for cards I was approved for, 1 was for a declined Discover card, and the rest are for cell phones and utilities I was approved for).

Average age of credit, 5 months, oldest account, 11 months old.

Thanks

[Anonymous]

Welcome to the board.  Are the scores FICOs or did you get them from CreditKarma? Also, you need to reduce utilization from 46% on the card with a $1,000 limit.  Once you do that, you might want to try Amex as they like very thin profiles.

Once you get it, give it sometime and then figure out what cards fit your spending habits the most and go from there.

[Anonymous]

You might consider starting by looking at the Capital One and Chase prequal sites, and see if you are preapproved for anything - those two are quite solid.

A few points/questions about your profile:

1. Which banks are your unsecured and secured cards with?

2. You might want to lower your utilization (to about 20-30% or lower, the lower the better) before applying, in order to maximize your chances of approval and of getting a higher CL and lower APR.

3. Are those scores FICO 8 scores? If they are from CreditKarma, those are Vantage scores, and are quite different from the scores that banks will be looking at (FICO 8) when they evaluate your application.

4. Are those credit inquiries all hard pulls (HPs)? Or are some of them soft pulls (SPs)? I had no idea that cell phones and utilities did HPs. (But I might be wrong, and if I am, please correct me!)

If the Visa Unsecured card is not a Chase Freedom, I'd fancy your chances at getting that once you lower your utilization. Capital One is a great option too, and you might be able to get the Quicksilver or Quicksilver One. I'd encourage you to try for Discover as well, perhaps after some time passes from that rejection. And you might also consider AMEX (e.g. the BCE or the ED) - if you do, check their prequal too, which is also solid.

Good luck OP!

[Anonymous]

There from CK, are they not accurate? And I try to keep my utilization low but I have issues when making payments, and new charges coming throrugh and incorrect balances getting reported.

[Anonymous]

1. Wells Farco Unsecured - Capital One Unsecured

2. I try to keep my utilization low but I have issues when making payments, and new charges coming throrugh and incorrect balances getting reported.

3. There CK scores, should I get my Fico score?

4. Yes all those are hard pulls :/ I try to avoid them

I forgot to also add I was approved for a Capital One Quick Silver but with a $500 CL a few days ago and a Chase Freedom card with a $1,500 CL a few min after checking CreditCard.com Card Match. I think this is good enough for me now. What do you think are my approval odds with Discover? I am really intrested in there checking account but it requires to have a Credit Card :/ Also I was thinking of closing out my Secured Capital One card, would that be wise or should I just leave it at $0 and make tiny purchases like of a $1 to help with my utilization?  I don't plan on maxing out my cards but as I said in 2 sometimes my score takes a hit.

And thanks

[Anonymous]

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@Anonymous wrote:

There from CK, are they not accurate? And I try to keep my utilization low but I have issues when making payments, and new charges coming throrugh and incorrect balances getting reported.

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CK scores are vantage scores.  It is not what  most lenders use when approving you for a credit product. Also, can you elaborate on the last part of your sentence thus, "I have issues when making payments, and new charges coming throrugh and incorrect balances getting reported."

[Anonymous]

What I mean Is I usally make payments a few days before the due date and assume my low balance was reported the next day and start purchasing stuff a few days after and sometimes they report the higher most recent balance . It's hard to explain.

[Anonymous]

While I can't give a perfect comparison, I do have a similar credit profile to you.  I have a few fewer inquries, but a similar AAoA, and an oldest reporting account of just a few months more.  So long as you don't have any derogatories that you didn't list, I think I can offers some reasonable advice.

You stated that you were declined for Discover(they approved me the first time I tried), but they might be worth a look again if it's been a while... American Express also has no problem with young but spotless approvals(my BCP was approved at 6 months of current credit history[after a denial 3 months prior for the same card]).  Also, look into credit unions... Alliant for some reason absolutely loves me, and your profile is similar, and NFCU just gave me my largest limit yet(and the one that will officially stop me from furthur applying for the near future[I really wanted to break that 10K barrier]).

I hope that helps a bit... I've had a few adult beverages again, so I'm sorry if my writing is difficult to follow.

[Anonymous]

Usually for lower balance report, don't wait til near due date to start paying off your bill, I tend to pay it off as soon as charges finishes pending (usually after 2-3 business days from when you made purchase) even if i spend like 50% if my credit limit it reports as 3% utilization or less. That's what works for me

[Anonymous]

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@Anonymous wrote:

I am wondering what cards might I be approved with my credit profile, I know I will still have to apply for anything and might not get approved. But I would like to get some suggestions.

I have 1 Visa Unscured Credit Card wiht a $1,000 CL, and %46 Utilization and 1 Mastercard Secured Credit card with $500 CL, with 0% Utilization

 1 FingerHut Store Card wiuth $600 CL, %0 Utilization.

TU Score 658 EQ score 662

9 Credit Inquires withTransUnion and 14 with Equifax, and I assume Experian is somewhere around those numbers too. (About 4 of these inquires were for cards I was approved for, 1 was for a declined Discover card, and the rest are for cell phones and utilities I was approved for).

Average age of credit, 5 months, oldest account, 11 months old.

Thanks

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Your utilization on your $1,000 Visa card is a little high, but other than that, I don't see why you'd have an issue getting a higher APR on some of the "average" cards out there.

The only things I can see the creditors looking at for a negative in your reports? Inquiries and AAoA. I don't understand how you can have 14 inquiries already when you've had credit for less than a year. Keep in mind, having more than 4 inquiries or so looks bad to creditors, and each inquiry also lowers your credit score. Also, don't open too many accounts, because in addition to those inquiries, you'll lower your average age of credit, which also effects your score negatively.

Regarding what cards you should apply for? Try a local credit union near where you live. If you don't want to use a local credit union's card (which you should as they have lower APR's and low to no fees), you can look at: 

Capital One Quicksilver 

- $39 annual fee, with 1.5% cash back on all purchases, credited to your rewards account instantly when the charge completes. 

- Credit line increases when you make your first monthly payments on time (mine increased before the first five months from $1,000 to $2,000).

- 9 month 0% introductory APR, and then 23.24% after that. 

- Free FICO score

- Foreign transactionf fee

Discover It Chrome (or also Chrome for students)

-No annual fee

-2% back at gas stations and on dining purchases up to $1,000 per quarter. 

-1% back on all other purchases. 

-Rewards that are worth $5 more than redemption amount to double redemption amount.

-Cash back match at end of first year (doubles your rewards). 

-1st late fee waived, and also no pentalty APR.

-Free FICO score

-No foreign transaction fee

-100% U.S Based customer service, rated #1 by JD Power. 

Citi Thank You Premier

-$95 annual fee (waived first year)

-3x points on travel including gas, tolls, etc. // 2x points on dining and entertainment// 1x points on all other purchases. 

-Purchases worth 25% more (3.25, 2.25, 1.25) when redeemed for travel through ThankYou rewards program portal.

-Lost baggage insurance, worldwide travel accdient insurance, and trip cancellation insurance included. 

-Personal concierge service.