How long should I wait to apply for the blue card?

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AmanteDecor
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How long should I wait to apply for the blue card?

Postby AmanteDecor » Fri Mar 18, 2011 11:27 pm

Hey folks,

I recently got accepted by Amex for the Zync card (woot!) and I would like to know how long I should wait until I apply for their Blue card. I have 9 months of credit history with a Citi mtvu platinum select student card, with all balances paid in full at the end of each month. Alternatively, if you think there would be a better Amex card for me to apply for, I'd be happy to listen to your advice.

Other information: I'm a 20 year old college student with $0 income, but I spend ~$900 per month on mostly food/amazon purchases through my credit card. I'll be getting a job this summer, but I'm unsure of the pay. Any help would be greatly appreciated!


ashleyAMX
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Postby ashleyAMX » Sat Mar 19, 2011 5:01 pm

Your credit history is rather short.. I would wait on the blue cash. You have no income, why have debt? That's risky. Also, they do ask for your income on the application so that maybe a deciding factor. However that's just my partially subjective opinion.

Objectively, figure out what your credit score is. Then, figure out what the average requirement for blue cash is... this will give you an idea of your likelihood of getting approved. Also, because you have a few new accounts I would wait 6 months. Pay on time, carry small balances.. Which will give you 15 months of good history and roughly 10 months AAoA (average age of account). Just makes your file look better and hopefully improves your chance of approval.

AmanteDecor
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Postby AmanteDecor » Sun Mar 20, 2011 2:00 am

Thanks for your reply Ashley!

I understand your concern in my lack of income, but since I still spend a sizable amount of money on a monthly basis (for a person my age, at least) I think that a cashback rewards card from Amex would be very beneficial. I never spend more money than I have, and frankly I don't understand how people can do that in the first place. Maybe the temptation increases the longer one has the ability to go into debt?

You have provided some very solid advice. As of now I my plan is to use both the cards I have now responsibly, and at the end of summer (while I have a job, hopefully) I'll send in an application for the Blue card. I assume that having an account with Amex that is in good standing will also help out quite a bit in getting approved, right?

ashleyAMX
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Postby ashleyAMX » Sun Mar 20, 2011 11:06 pm

American express credit cards are harder to obtain than their charge cards. I would focus on your overall score. Also, I think that in the decision making process creditors want to know that you have the ability to pay off debts (income) rather than rack up debt (spend). Which is why I think your income might be a factor. But, for them either is a win-win.

I completely understand why you'd want a rewards card. But, they do induce spending. Lol

AllGentix
 
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Postby AllGentix » Mon Mar 21, 2011 2:26 am

Congratulations on getting approved for the Zync card. I'm looking to get approved for the same card as well. Like you im a 19 year old college student with a credit history of around a year and 8 months. Always paid my balances in full and on time. I work part time making around 600-700 monthly. Currently own 2 cards: Bank of America Visa 700CL and Chase Freedom 2k CL. How are my chances of getting approved. I also just got recently approved for the freedom around a month ago and had the Bank of America Visa since the beginning.

Just wondering, i noticed when applying for the Zync card, it asked for your annual household income. Since you dont have an income, what did you put?

AmanteDecor
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Postby AmanteDecor » Mon Mar 21, 2011 3:30 pm

Hey AllGentix, I would say that you have a good chance of being approved for the Zync card, considering that your stats are very similar to mine (plus you actually have a job! haha). Regarding my answer about annual income, I simply told the truth and selected the option for unemployed (student). Last year I actually made $19,000 working as a private contractor, so maybe they somehow pulled that information from my file and accepted me for that reason. Or maybe there is no minimum income for the card, I'm not quite sure. Good luck on getting approved for the Zync card--keep us updated! :)

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Mogul of Pineapples
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Postby Mogul of Pineapples » Mon Apr 11, 2011 1:14 pm

Or maybe there is no minimum income for the card, I'm not quite sure.


Don't quote me on this because I may be wrong but earlier in 2011 I remember reading that there was no official minimum income requirement for the Amex Zync card. Then again my guess would be if there is no income there better be a good reason for it- i.e. student, rich, or retired.
Disclosure: I am a moderator/paid staff of this site, which does have advertising relationships with some credit cards that are discussed and linked to. Regardless, anything I say is my honest opinion.

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