When to Apply for BCP?

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3 posts
Ners
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When to Apply for BCP?

Postby Ners » Thu Feb 21, 2013 1:01 pm

I'm interested in getting the Blue Cash Preferred due to it having better rewards than my current card. While I'm fairly confident I can get approved, I'm curious about the best possible time frame in which to apply. Below are some factors I'd like an opinion on.

I just financed a new car in January, $16k at 1.9% over 4 years, I do plan on paying it off sooner though. I got some quotes from banks for loans, so those inquires are all on my report now (although they should be grouped together).

In December I requested a credit increase from $5k to $10k on my Chase Sapphire Visa. I got this card while an intern, so my limit is a lot lower than my expected for my current income. My total credit is at $11,250 as I still have an old student Visa through BoA that goes unused.

I'm 25, have 5 years of excellent credit history, and an annual income of $70k+.


Should I be fine applying now or would it be better to wait? Trying to avoid large impacts on my credit score (which is currently around 760).


ncosky290
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Postby ncosky290 » Thu Feb 21, 2013 3:08 pm

If your utilization is below 20% and Experian is a good score then just go for it.
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Ners
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Joined: Thu Feb 21, 2013 11:10 am
Location: TX

Postby Ners » Thu Feb 21, 2013 4:21 pm

Is there any chance they waive the first year's fee if I apply over the phone?



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