700+ credit score with history length less than a year?

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Ish
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Re: 700+ credit score is history length less than a year?

Postby Ish » Tue Feb 28, 2017 12:49 pm

So, basically under 1k. Tbh recently my bank raised me credit limit from 300 to 400. I didn't even ask for that.

Credit Karma suggest me Blue Cash Everyday® Card from American Express. But I can't find the minimum credit limit for this one in terms and conditions:
https://www.americanexpress.com/us/cred ... nolayout=1


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CarefulBuilder14
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Re: 700+ credit score is history length less than a year?

Postby CarefulBuilder14 » Wed Mar 01, 2017 11:38 am

Ish wrote:So, basically under 1k. Tbh recently my bank raised me credit limit from 300 to 400. I didn't even ask for that.

Credit Karma suggest me Blue Cash Everyday® Card from American Express. But I can't find the minimum credit limit for this one in terms and conditions:
https://www.americanexpress.com/us/cred ... nolayout=1

I don't see it in the fine print for that card, either, but I've heard of $500 BCEs.
Warranties and sketchy merchants: Schwab Platinum
Price rewind: Costco
Travel insurance: Prestige, CSP
Perks: IHG, Hyatt
Rewards/Offers: Discover, Freedom, ED, BCE
Taxes/Misc: SPG

Limited value, might close: Arrival

Might add: First Tech, proper business card

Ish
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Re: 700+ credit score is history length less than a year?

Postby Ish » Wed Mar 01, 2017 1:19 pm

On the other hand, I'm getting letters from Capital One all the time, that I've been approved for "Platinum Credit Card From Capital One". I've got like 4 letters so far (since December). Is it a suggestion that I shouldn't apply for Quicksilver (because if I would be eligible for Quicksilver, Capital One would have sent me Quicksilver approval or pre-approval)?

What do you think? Does it matter?

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CarefulBuilder14
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Re: 700+ credit score is history length less than a year?

Postby CarefulBuilder14 » Wed Mar 01, 2017 3:14 pm

Ish wrote:On the other hand, I'm getting letters from Capital One all the time, that I've been approved for "Platinum Credit Card From Capital One". I've got like 4 letters so far (since December). Is it a suggestion that I shouldn't apply for Quicksilver (because if I would be eligible for Quicksilver, Capital One would have sent me Quicksilver approval or pre-approval)?

What do you think? Does it matter?

My experience has been that Cap One will "lowball" their mail offers. Don't assume it means they will reject you for QS. Before I opted out, their website prequalified me for better cards than their mailed offers did. I didn't ever apply for any of them, though.

Also, keep in mind that Cap One sends out a lot of ads in general. It doesn't mean that other banks won't lend to you.
Warranties and sketchy merchants: Schwab Platinum
Price rewind: Costco
Travel insurance: Prestige, CSP
Perks: IHG, Hyatt
Rewards/Offers: Discover, Freedom, ED, BCE
Taxes/Misc: SPG

Limited value, might close: Arrival

Might add: First Tech, proper business card

Ish
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Posts: 12
Joined: Tue Feb 21, 2017 9:13 pm

Re: 700+ credit score with history length less than a year?

Postby Ish » Mon Mar 06, 2017 9:12 pm

In a meanwhile I got 3 mails from Discover, that I've been approved for DiscoverIt credit card. But I've some concerns..

To recap,
I have:
- my first credit card for 7mo now (BofA, secured, was $300, recently raised to $400). In about 5mo it should become unsecured.

My goals are:
- get a great travel credit card, like Venture, or VentureOne
- to have 3 credit cards, each from different supplier/bank, with travel/miles credit card as by "go to" card.

So for now I'm looking for my 2nd card, assuming that my 3rd card will be travel one. Having said that, I probably wouldn't like to get Capital One for a second card. That leaves me with three options:
- Freedom
- Freedom Unlimited
- DiscoverIt

1. Is my thinking correct? Should I go with DiscoverIt? I'm not sure about that card, because it's a Discover and it's not accepted in many places. It's a pretty secured choice since they've send me already 3 mails. Also, DiscoverIt card is great for online shopping, so when I get my final 3rd card I could use Discover only for online stuff, where I have discount.

2. How long after apply for my 2nd card would I have to wait to apply for a Venture credit card?

Ish
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Re: 700+ credit score with history length less than a year?

Postby Ish » Sat Mar 11, 2017 12:10 pm

Hi guys!
I got approved for DiscoverIt with CL $1250. I have thin 8mo long, but perfect history, 6digit salary.. I was expecting a little bit more tbh. Let me know what do you think.

As a next step (3rd card), although I wrote that I want to apply for a travel card (like Venture or Venture One) I'm not sure if this is the best idea. Right now, I think it's better to apply for Chase Freedom 5%. I will have two packs of rotating categories for 5% cash back (Hopefully they have different each quoter, because otherwise my plan sucks :P). After that I will get overall good cash back credit card with 1.5% or even 2% (by City) OR Venture (which technically has 2% as well). This way, I will have cash back 2%-5% on EVERY purchase and some good discounts from Discover card. Oh and if I choose City double-cash instead of Venture - ALL of this for $0 AF. Let me know what do you think about such strategy!



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