Snowman wrote:Do you think I will be approved with my short history and my income for the Citibank card and should I go for the student or non student? and when can I/should I be able to apply for the prime cards, just based on a general time frame? (i.e 6 months more, a year, 5 years etc) . And no I have not received any pre-approval for Chase cards. The only reason is because I have seen people on the boards here with very short histories such as mine get approved, so that's why I thought about applying. I can wait on the AMEX, but I plan on applying for cards until I have at least three, and then just garden them for a few years until my credit is aged for a while. I;d take anywhere from 2-6 inquires until I get three card (have one, so two more), and then stop for a year or two, unless I feel my credit is okay enough to where I can take on more credit (but that will be in the future, when hopefully the agency I want to apply for will start hiring again.)
Unfortunately there is not one answer that fits everybody. Yes, I too have seen people with very little credit get approved for cards from prime banks. You, for instance, were approved for a BofA card with no prior experience. That is pretty impressive. But I have also seen people declined as the banks want to see history (kind of egg and chicken-you have to have credit to get further credit). For me personally, it took about a year for approval of the better cards and credit lines. Two full years to hit above the $5K limit; of course this was back in 1998-2000 before the new laws and current economy. But generally, a prime bank will want to see a good year of credit with someone else before they want to approve you for their card.
Citibank: I found that the student versions of cards had small limits and higher APRs vs the regular card version. I don't even know if they really are easier to be approved for. Depending on your age (18-19 freshman/sophomore) I'd think about student but if you are 21-25 (junior/senior/graduate) then go for regular.
Maybe some others can chime in here with their experience to offer you some more help.