Amex Blue Cash Everyday -- Approval Chance for College Student

American Express forum. Talk about AmEx credit cards like Blue, Gold, Platinum, Centurion, and more.
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Odinsreaver
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Amex Blue Cash Everyday -- Approval Chance for College Student

Postby Odinsreaver » Mon May 12, 2014 8:32 am

I was wondering, what are the chances for me to get approved for the Amex Blue Cash Everyday card? The reason why I'm planning on getting this card is because I play the credit card game, so I usually use the card that has the highest rewards for my buck.

A little about me and the cards I have as of now:
College student
I opened a Capital One Journey on 11/11, and always paid on time. $2.25k limit
Afterwards, I was approved for Capital One Quicksilver on 11/13. $3k limit
Later on, approved for Discover It - $1k limit on 12/13.
Finally, a Chase Freedom on 01/14 - $900 limit

If I were to fill out the application, can I put down my tuition for annual income?
Financial aid refund check?
Currently unemployed, will be working pretty soon after finals are over.

Discover (using the credit score tracker) says:

Your FICO® Credit Score is affected by these key factors (FICO Score - 751):

1. LENGTH OF TIME ACCOUNTS HAVE BEEN ESTABLISHED:

Longer credit histories indicates less risk to lenders. The age of your accounts is relatively low.
2. LACK OF RECENT INSTALLMENT LOAN INFORMATION:

Your report shows no open or recently reported non-mortgage installment loans. People responsibly using different types of credit are generally less risky to lenders.

Capital One Credit Score Tracker says my credit score is 739
A On-time Payments 100%
C Oldest Credit Line 3 yrs.
A Credit Utilization 0%
C Recent Inquiries 3
A New Accounts 2
C Available Credit $6,250.00

Should I take my chances or wait awhile?
Thanks in advance for the help!


takeshi
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Postby takeshi » Mon May 12, 2014 10:27 am

Odinsreaver wrote:If I were to fill out the application, can I put down my tuition for annual income?

How would that be income? You pay tuition to the institution.

Considering that AmEx uses the 4506-T for income verification you need to be certain that your tax returns can verify your income. Keep in mind that if they issue a 4506-T right now they won't use your 2013 return (not accepted until August this year).

Odinsreaver
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Postby Odinsreaver » Mon May 12, 2014 10:45 am

takeshi wrote:How would that be income? You pay tuition to the institution.

Considering that AmEx uses the 4506-T for income verification you need to be certain that your tax returns can verify your income. Keep in mind that if they issue a 4506-T right now they won't use your 2013 return (not accepted until August this year).


A stupid question is a question not asked since I have no idea what they're actually looking at, and they declined me two years ago or so. So they're looking at my 1040 form from last year when they request a 4506-T?

Odinsreaver
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Postby Odinsreaver » Tue May 13, 2014 5:03 pm

I got the everyday card!

notamember
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Postby notamember » Wed May 21, 2014 1:29 am

So what did you end up putting for your income? Did they ask for proof of income?

MemberSince99
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Postby MemberSince99 » Wed May 21, 2014 9:34 am

Good for you, congratulations. I would however be careful as you have no job and while we are all going to be wildly successful and rich, going to can't be verified today which is what they look at (or actually, the last couple of years as well).


So just take it easy with that and be smart and you should be fine. Don't make the mistake of some and go out and use the hell out of it in ways your income won't support even if the parents are paying for it, as that might bring you grief. You sound sensible with your credit but that's the smart way to do this so I wanted to mention just for your benefit. Treat it well and you won't regret it.



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