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how long to wait to reapply?(AMEX)

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SnackTrader
Valued Contributor

Re: how long to wait to reapply?(AMEX)

The big thing to remember here is that like CreditAddict said - your file is thin. 

 

You were approved for two unsecured cards, which is excellent, but now you need to show history with those. Show other creditors that you can handle higher limits and that you can handle 3 credit cards. Once they show up on your report your AAoA will drop, but so will your utilization. In order to bring AAoA back to a better place, I suggest waiting longer than 3 months, maybe up to 6, before applying for anything else. Credit is a long journey (marathon, not a sprint, yada yada) so don't be in a rush to get somewhere your credit isn't ready for. You'll be in great shape in 2 or 3 years if you only app once every 6 months. Plus, you need to give those inquiries some age, too make make sure you don't look desperate for credit. 


In My Wallet: Amex BCP (12/12) $50,000, Chase Freedom (12/12) $16,500, Cap1 Quicksilver (6/12) $14,000, Barclaycard Rewards (5/13) $10,500, Citi Prestige (4/16) $30,000

Last App: June 27, 2015
Message 11 of 11
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