Odds of Approval For First AMEX

American Express forum. Talk about AmEx credit cards like Blue, Gold, Platinum, Centurion, and more.
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Postby popamode72 » Wed Jan 28, 2015 11:32 am

I wouldn't get charge cards unless they had some special kind of offer like the 50k MR points, 1k spend sign up bonus that the PRG has had/is currently having right now or if you could justify having the Amex Plat and making those benefits work for you.

Chase is great and will work with you once you've gotten your foot in the door with them. I got in through one of their cobranded cards with 11 months of history and have had no problems getting other cards from them as I established my payment history with them and such. Already had a checking account before with Chase but I'm not really sure that had as much to do with the approval. It was for their Southwest Airlines card and got a starting limit of $5k and met the sign up bonus.

Freedom is a solid card to get though and if you think your scores are good enough and you've gone through Credit Pulls Database to see the stats there, go for it, especially when that $200 sign up bonus returns.

If you have to go with CapOne as a last resort, go for the Journey card with no AF. It upgrades easily to the Quicksilver after a few months if you ask their chat to see if you have any upgrade offers and would be a much better starting place than having their AF rebuilder cards. The CapOne I have is my second oldest card. My dad despite having some derogs on his report has one himself.
Macy's TLs (21k), Lowes (17k), CSP (10k), Sam's Club (10k), Nordstrom (5k), AARP (4.2k), Freedom (3k), Discover (1.5k), Quicksilver (2k), BoA (3k), Barclaycard Arrival (2.5k), Amazon Store (6k), Paypal (4.9k), Sam's Club MC (3.6k), Walmart MC (1.2k)

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Postby RGL » Sat Jan 31, 2015 12:23 am

I decided to ahead and apply for the Freedom Card. I really wanted to give it one more shot and thought, "If anyone is going to give me a chance, it's going to be my bank." I thought about how I have a solid savings account with them, as well as checking. I also figured since my entire credit history, which is entirely based on my being an AU on a Freedom Card, is with Chase they might take that into consideration and they can also see that I have funds coming in and out via my checking account with them. Also, I thought I might let them know that the Freedom Card I am an AU in, is a card that only I use -- and pay off-- every single month; it's just in my wife's name.
Anyway, I took a shot in the dark and I got the dreaded "Your application is under further review. Expect a decision within 7-10 days." I allowed about an hour to go by before I called their backdoor number. A very nice chase representative answered and I told him I had just put in an app that needed further review and was calling to make sure they had everything they needed and/or answer any questions they might have. He looked up my app and asked me a couple questions, like my living situation (rent) and income. Then he put me on hold for about 5 minutes and said, "Okay, everything looks good, I was able to approve you for a $500 limit."
I know it's not a lot but I am super excited! I can finally get my credit history going.

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Postby CarefulBuilder14 » Sat Jan 31, 2015 10:42 am

Good to hear. It's a card you'll probably find useful for a long time.

Some things to be aware of, based on my experience and that of others:

1. Chase rarely does auto-CLIs with the frequency that other issuers do. You'd probably get one every few years, of course, but a lot of people on here expect them every few months. Spending a lot of money on a low-limit Chase card, then paying in full, doesn't appear to help. Having other cards with higher limits, and then opening a new Chase card or requesting a CLI, seems to be more effective.

2. If you get a $100 or $200 bonus for opening the account and spending $500, and you can be patient, that money can be a lot more valuable later on if you get other Chase cards. I wasn't patient (and I didn't understand the full UR system), I have to admit.

I'm certainly not saying you should absolutely get the CSP or Ink Plus. They have annual fees, big spending requirements to get the bonus, and somewhat complicated rules. You might not even be eligible, credit-wise, for several months to a year. I'm just saying you should do some research into those cards and what they can do before you rush to take the Freedom signup bonus in the form of pure cash, as I did.
Warranties and sketchy merchants: Schwab Platinum
Price rewind: Costco
Travel insurance: Prestige, CSP
Perks: IHG, Hyatt
Rewards/Offers: Discover, Freedom, ED, BCE
Taxes/Misc: SPG

Limited value, might close: Arrival

Might add: First Tech, proper business card

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