- Centurion Member
- Posts: 538
- Joined: Fri Mar 09, 2012 9:29 am
- Location: San Francisco, CA
Great advice on bce/bcp card. Going to give you some advice on what to look at.
1) Amex is great because of backdating. Essentially every card you open will show that is was opened in the year where you opened your first Amex. Around 15% of your credit score is made up of your depth and breath of credit file of which average age of accounts (aaoa) is a primary indicator. So Amex can really help your credit by increasing your aaoa.
2) you should join the special military affiliated banks/credit unions. Some are only available to active duty. The following are usaa, Penfed, and nfcu. Usaa is pretty great all around. Penfed is extremely competitive with its products but high credit standards. Nfcu is ridiculously generous with credit line sizes and approvals compared to credit scores.
3) if you are going for auto loan soon, DO NOT apply for any cards. It will actually probably hurt your credit score. The only circumstance you should is that you are holding significant balances and want to reduce your utilization. My advice is the following assuming your util is low: when ready tomget car, join Penfed which will require inquiry on equifax. They have lowest auto loan rates and same inquiry for joining can be used for all credit products applications for 3 months. Use Penfed for auto loan unless you get rejected or get 0% from manufacturer. Do not make mistake of letting auto dealer push loan application all around. Walk in with Penfed check. In same month car is taken care of, get Penfed plat rewards visa (best gas card on planet). Then join nfcu and app for card from them. In January 2013, app for Amex credit card such as bce/bcp (for max backdating). There is certain order to all this. Feel free to ask why in this order. Also, give me member year on amex as that might change when you app for Amex. Also, what is your current aaoa, and current credit card limits and utilization?
Amex Centurion, Amex Platinum, Amex BCP 8k->24k (5/23/12), Amex TE 15k, Cap One 1.5% 15k->20k (8/7/13), CSP 25k, Chase Palladium 100k, Citibank AA 35k (AU), Firestone 1.8k->2.2k->2.4k (8/20/12), JFCU Jloc 30k, PenFed Plat Rewards 30k, SF Fire 30k, US Bank Cash+ 25k