Credit Advice

Have a question? Have advice to share? The combined knowledge and experience of everyone in the Credit Karma community can help you. Enter your question or help others below to get started!

Question

Posted in Credit Cards
Profile Image

Question By
CandiedJester

2 Contributions
3 People Helped
Should I apply now, or next month?
So I have been receiving pre-screened offers for the Discover IT card for at least the last 6 months (if not more). I really want to apply for it, but I'm afraid of getting declined.
My current offer says my credit score currently applies for 10.99 APR.

Here's my situation:
I currently have only one other credit card, with Citibank, and I have a $1000 credit limit, which has a high balance right now (about $800), which I am working to pay off. I've made all my payments on time, but my usage probably looks bad. By next month I should be able to pay it down even more.

The only other cards I've had have been two retail cards, which I've only used for small purchases and paid off quickly. I closed one, and might close the other (which currently has no balance). And thirdly, I had a retail/installment type loan card for furniture I bought last year, which I have just made the last payment on and closed the account today.

Other than that, the only things on my credit report are student loans I won't have to pay back for a while.

Another negative thing is I have a lot of hard inquiries on my account from over 6 months (some from a year or more ago) ago as I had applied for a couple of different cards which I was denied for, and also the retail cards (totally did not realize they were going to check my credit), and a loan from my bank.

Will it make much difference if I apply now, or should I wait until after my report is updated and reflects a lower balance on my citicard, and that my installment-loan account is closed.
I've already made myself wait until now, and I'm getting antsy! Help!

Your Credit Scores Should Be Free. And Now They Are.

View your scores and reports anytime.

SIGN UP NOW
All Responses

Results 1-3 of 3Results per page: 5 | 10 | 25Page 1 of 1   Previous | Next
2 Contributions
3 People Helped
Most Helpful Response

I should probably add...

Helpful to 2 out of 2 people

My current Experian score is 722, and my current Credit Karma score shows 761.
My income is about $23,000 per year.

I'm a college student.

2 Contributions
3 People Helped

Approved!

Helpful to 1 out of 1 people

Applied on october 1st and was instantly approved! I'd paid down my citi card to about $630 by then. Yay!! So excited. :)
My credit usage actually didn't look that bad because my mom had me on her discover card as an authorized user, and she has a high limit and low balance on that card. My credit score came back as 720. Thanks for the replies!

9 Contributions
26 People Helped

no its going to give you aNOTHER INQUIRY

Helpful to 1 out of 1 people

if i was you ill pay off that citi balance till it reaches maybe $150 balance that way it shows that you have a high amount of credit avaible and dont max out. u said your card has a 1000 limit and u carrying a balance of 800$ thats 80% ultilization. which is very bad and if u apply now with that the only thing youll get is another hard inquiry.

Results 1-3 of 3Results per page: 5 | 10 | 25Page 1 of 1   Previous | Next

Your Credit Scores Should Be Free. And Now They Are.

View your scores and reports anytime.

SIGN UP NOW

Reply to this Question

Write your response:
Enter Your Comments

The Credit Advice pages of the Site may contain messages submitted by users over whom Credit Karma has no control. Credit Karma cannot guarantee the accuracy, integrity or quality of any such messages. Some users may post messages that are misleading, untrue or offensive. You must bear all risk associated with your use of the Credit Advice pages and should not rely on messages in making (or refraining from making) any specific financial or other decisions.