Credit Score of 666: How Long 'Til I Can Re-Apply For New Cards?

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toad
 
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Credit Score of 666: How Long 'Til I Can Re-Apply For New Cards?

Postby toad » Wed Jan 25, 2012 9:42 pm

I have decent credit. 666 credit score from credit karma. 1 derogatory mark that should come off within 1 year. 11 credit inquiries, 14% utilization. 100% on-time payments.

Credit inquiries should be coming off this March/April. About 4 in total.

Do you think I should be okay to start applying for promotional cards again in June?

I have been denied by Citi/Chase/Barclays after getting approved for a total of 5 credit cards in 2011. As a result my available line of credit had increased by 5x as well.

These are the list of cards I have acquired in 2011.

FIA Amex 2% Cashback
Citi AA 75k Visa
Citi AA 75K Amex
Chase Continental OnePass 50k
Chase Priority Club Visa 80k

What are your thoughts?


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PlatinumAMEX94
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Postby PlatinumAMEX94 » Thu Jan 26, 2012 1:08 pm

How long have you been using credit? How is it you have been denied by Citi/Chase and yet you have these cards, with extremely high credit lines? Why are you acquiring so much credit? If I was a banker/credit analyst, I would wonder why you don't just use what you have, instead of applying for new credit. 5 credit cards in 1 year with 280K available credit already seems a little excessive.
American Express Platinum Personal, Member since 94
Chase United Explorer - Visa Signature
Chase Sapphire Preferred
American Express Business Simply Cash

American Express Costco Business, American Express Platinum Business
Bank of America 10k, Capital One Venture World MasterCard 7.5k, Fidelity Visa Signature 10k
Citibank ThankYou Premier World MasterCard - Card Member since 91, 25k
Discover 10k Member since 91, Wells Fargo Personal & Business Visa Signature
USAA World MasterCard 12k, Chase Slate Exclusives Visa 5k

Lifelock member, USAA credit monitoring, Security Freezes E/E/TU, 800+

toad
 
Posts: 2
Joined: Wed Jan 25, 2012 9:37 pm
Location: United States

Postby toad » Fri Jan 27, 2012 8:17 am

I have 15k available. I have 3 cards that account for 10k of it that will close in July. I do maintain 5-6k balances and pay them in full.

I sign on for the bonuses and keep the cards that are worth keeping. This year I look forward to getting the SPG Amex with a 30k sign on bonus as well as a airline credit card that has at least 50k attached to that bonus.

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PlatinumAMEX94
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Joined: Mon Jan 02, 2012 1:21 am
Location: Denver

Postby PlatinumAMEX94 » Fri Jan 27, 2012 3:28 pm

toad wrote:I have 15k available. I have 3 cards that account for 10k of it that will close in July. I do maintain 5-6k balances and pay them in full.

I sign on for the bonuses and keep the cards that are worth keeping. This year I look forward to getting the SPG Amex with a 30k sign on bonus as well as a airline credit card that has at least 50k attached to that bonus.


I misunderstood the "K" after each card as your credit limits. Is there a reason you are so intent on obtaining credit? Most people don't apply for credit for the hell of it. There is usually a reason, like, you can't afford it and need to finance it. Creditors are always afraid you may overextend yourself.
American Express Platinum Personal, Member since 94
Chase United Explorer - Visa Signature
Chase Sapphire Preferred
American Express Business Simply Cash

American Express Costco Business, American Express Platinum Business
Bank of America 10k, Capital One Venture World MasterCard 7.5k, Fidelity Visa Signature 10k
Citibank ThankYou Premier World MasterCard - Card Member since 91, 25k
Discover 10k Member since 91, Wells Fargo Personal & Business Visa Signature
USAA World MasterCard 12k, Chase Slate Exclusives Visa 5k

Lifelock member, USAA credit monitoring, Security Freezes E/E/TU, 800+



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