First time poster. Been with Amex for a year now, started with PRG gold now have business and personal platinum cards. I'm looking to apply for the SPG credit card for a few reasons but I don't know if I would have a chance. Here is my background:
20 years old
60k income per year
Amex plat for 1 year
B of A student garbage credit card 2 years, $700 limit
VW car loan for 10K
BMW car loan for 30k
Both cars are leases and they are on going. Just got the BMW one after help from my dad with cosigning.
One of my biggest downfalls is that I only have one credit card and the limit is insanely low, the other is my age and credit history. My longest account is the $700 credit card for 2 years. My utilization on it was very high before but has dropped drastically since I got amex.
I spend around 5k a month on the personal amex and it is paid off with no problems. I spend about $120 a month on the credit card just to show i'm spending and paying it off.
I did have some trouble getting the lease done with BMW and had to involve my dad. This makes me a little worried about applying for the SPG. I've applied for the chase freedom less than a year ago and got denied so I keep thinking there is no way I'll be approved for the SPG. Want it because rewards are better than plat and I really hope they will give me a limit higher than $700 to show I have higher limit cards on my report.
What is your guys' take/advice?