American Express with limited credit history?

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Gera55
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American Express with limited credit history?

Postby Gera55 » Mon Feb 27, 2012 4:37 pm

Hello everyone

Im new to this site but i found some of the posts very helpful and was wondering if anyone can specifically help me now?

I am a college student with limited income. I do have a college credit card and want an Amex because I am constantly using a debit card and might as well get points for using a card. So i decided an American Express would be the best for me.

I recently checked all three of my credit scores from each bureau and in two I am above 700 yet on one I am only 600. I have only one inquiry for a another card i was denied about 4 months ago. I have no public records.

Do you think with the limited credit history i will be denied by Amex? I have had my other credit card for a little over a year and want to upgrade... can any one help please??

Thanks,
Gera


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Postby Money card » Tue Feb 28, 2012 10:11 pm

Limited credit, yes.

Since you're a student why not try for the Pass card, it's an American Express for students? It's accepted all over and it's better than your debit card.

logan|20
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Postby logan|20 » Tue Feb 28, 2012 10:52 pm

I fail to see how the Pass is any more beneficial than your regular debit card. If anything its more of a hassle, having to go reload it when your funds get low, and then waiting for the funds to actually become available on the card. Plus, on the Amex website it is marketed towards parents that have teens. I would try the Amex Zync, and if you are denied wait another 6 months to a year and try again.
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Marcov719
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Postby Marcov719 » Thu Mar 01, 2012 1:40 am

I have a limited credit history as well but I was approved for Amex's Green Charge card.

Gera55
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Postby Gera55 » Thu Mar 01, 2012 6:58 pm

Interesting... the other problem is "technically" speaking don't have income because i am new to my job and didn't file taxes last year? but i am employed? will this be a problem? i am actually very interested in the Zync card now.

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Nbirnbaum2
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think zync

Postby Nbirnbaum2 » Fri Mar 02, 2012 1:51 am

Get a zync card and make friends with amex first. Apply for gold or green in 13 months. They will convert your points. You will have to apply for a gold get approved then close the zync. They report member since date to the bureaus and will convert your points to the real member rewards program. I did it after recovering from an id theft, low score :( now have a platinum card now


hey how do i change my profile to show platinum member? lol

BNB-RYAN
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Postby BNB-RYAN » Fri Mar 02, 2012 7:26 am

How many points do you actually expect to get if you have a limited income? I think there are FAR better things to concern yourself with. Like increasing your income.

UPS Gregg
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Postby UPS Gregg » Sat Mar 03, 2012 12:01 pm

I recommend not using credit cards unless you can afford to pay the balances off in full each month. With limited income you would likely struggle to do that and that could lead to plenty of debt.
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irvine801
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Postby irvine801 » Sat Mar 03, 2012 1:42 pm

Zync will be the easiest or the clear card as well. I say zync I got an approval w/ a fico of 626 and a 48% util. And platinum status hits after 50 post Bro. And if they decline you, wait 6 months then try again. Good luck :)
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Postby Money card » Sun Mar 04, 2012 12:37 am

logan|20 wrote:I fail to see how the Pass is any more beneficial than your regular debit card. If anything its more of a hassle, having to go reload it when your funds get low, and then waiting for the funds to actually become available on the card. Plus, on the Amex website it is marketed towards parents that have teens. I would try the Amex Zync, and if you are denied wait another 6 months to a year and try again.


Because the debit card doesn't report to credit bureaus. it comes right out of his checking.

while at least the pass card establishes credit. you get a month to pay your bill unless the parents help out. it establishes better credit than the debit card does.

debit card is for getting cash out of a machine. while a student card helps students when short on cash .



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