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BN14

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Apply for new credit card now or wait?
My credit score went from 690 to 746 this month after my mortgage started showing up and I was approved for credit through a flooring store. I have made one payment on the flooring credit. My grade for credit history is an "F" because other than my mortgage I have not used revolving credit for about 5 years. MY QUESTION... should I apply for a chase credit card today while my credit score is in the Good to Excellent range or will I most likely be denied because of my short payment history? I am utilizing 82% of the flooring store credit. If I wait to apply for the card, will this hurt my chances of being approved?

Thanks,

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Top Contributor
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Your credit report and scores fluctuate daily, but it is probably a good idea to apply now before the other account hits.  I think with your score you should be OK for qualifying.  Of course, your score will drop again if you get the card, but it will build back up as you make payments.  If they don't approve you, try for a secured card instead.  One other thought, can you re-open one of the old revolving accounts instead of getting a new card?  That way you'll have more payment history from the older account.  Keep up the good work!

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