Have only 1 card for 8 months, will I qualify for an Amex?

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0_to_60
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Have only 1 card for 8 months, will I qualify for an Amex?

Postby 0_to_60 » Mon Oct 08, 2012 12:46 pm

23, new to credit cards. Started 8 months ago with capital one rewards card with 500limit now its 750. Credit utilization about 40%. I pay off full each month, never a balance. Now i want American Express for a secondary card. My income 25k a year for now.


namvet
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Postby namvet » Mon Oct 08, 2012 1:34 pm

IMO if you wait 4 more months and reduce utilty to 30% or less you will have better results.

0_to_60
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Postby 0_to_60 » Mon Oct 08, 2012 1:40 pm

Eq: 709
Tr: 699
Ex: 730


Rory
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Postby Rory » Mon Oct 08, 2012 2:12 pm

i had one card for about 6 months before i applied for my first amex. 3 months after that i got my second amex. Just before my second amex i got a freedom and upgraded my BOA card. I keep my utilization low and never miss a payment. Also i did have a slightly higher income than you but i doubt that made much of an impact.
Amex Zync - NPSL (Cleared up to 25k)
Amex BCE - 12000 limit
Amex BCP - 4200 limit
FIA Rewards Amex- 3500 limit
Chase Freedom - 2000 limit
Chase Slate - 2000 Limit
BoA Cash Rewards Privileges- 3000 limit
Barclaycard Rewards MC - 3000 limit
Discover IT- 3500 limit
Marriott PR- 5000 limit
21 years old with alot of life to spend ;)
Its not about the ending, its about the journey,
just as long as the ending is just as good :cool:

0_to_60
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Postby 0_to_60 » Mon Oct 08, 2012 3:30 pm

Also which Amex should i apply for?
So i shouldnt spent no more than 225? (that is 30% of 750) i usually go up to 280

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t528491
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Postby t528491 » Mon Oct 08, 2012 5:20 pm

I would say you had a good shot with the Zync, but since it's dead, I'd advise waiting for your utilization to drop.
[size=80]
02/12 Authorized user on Chase Freedom ($5000)
08/12 Discover It ($1500)
08/12 American Express Zync (NPSL)
12/12 NFL Visa ($500)[/size]

[size=60]Future cards:
Citi Forward for Students 6/13
American Express Blue Cash Everyday 1/14
Sallie Mae World Mastercard 2014
Chase Freedom 2014
Penfed Platinum Rewards Card 2015[/size]

0_to_60
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Postby 0_to_60 » Fri Oct 12, 2012 1:25 pm

bump anyone?


irvine801
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Postby irvine801 » Fri Oct 12, 2012 2:57 pm

Clear is an easy card. But with your scores you may quality for green. I also would say zync but I guess they are not taking apps anymore. For zync at least.
-American Express Zync.
-Discover IT. 4.5k limit 7.99%
-MC Citi diamond preferred. 1500 limit
-Visa Chase freedom. 2k limit.(23.24%, NOT IN USE)
-Miles by discover 1.5k limit.7.99%
-Best buy store card. 1500 limit
-Mt. America visa 1k limit

irvine801
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Postby irvine801 » Fri Oct 12, 2012 3:01 pm

But also.. you have a thin file it sounds like. So I would try, it wouldn't hurt, and if they say no ,maybe look at discover card or Chase freedom for a good a cashback card. And they are a bit easier to quality for I believe.
-American Express Zync.
-Discover IT. 4.5k limit 7.99%
-MC Citi diamond preferred. 1500 limit
-Visa Chase freedom. 2k limit.(23.24%, NOT IN USE)
-Miles by discover 1.5k limit.7.99%
-Best buy store card. 1500 limit
-Mt. America visa 1k limit

0_to_60
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Postby 0_to_60 » Fri Oct 12, 2012 3:31 pm

thanks for the reply.. Doesnt experian grade with a faco score?
I dont know why im rushing to get another card, maybe its because i use my debit card so much that i could build my credit by using a credit card. Should wait to hit a 1 year mark then apply for clear or green?



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