Should I apply?

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Ratfacedudeguy
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Postby Ratfacedudeguy » Wed Jul 11, 2012 3:46 pm

One thing that I feel hasn't yet properly been addressed.... You keep mentioning this 70% utilization during the first month that you had the account as a "negative" on your credit. I'll let you know that a new lender won't know or care about your previous utilization history. All they can see and use is the credit report that they have in front of them which has the utilization reported as of your last reporting date (usually, but not always, your statement cycle date). Just wanted to throw this out there so that other viewers who may be inexperienced to credit won't be confused.

Now to answer your question, 2 months probably is cutting it a bit close. My second card was actually opened I believe 2 or 3 months after my first one, but then again my second card was Capital One... Not quite the same tier of issuer as Chase and Discover. To apply right now would likely be a wasted inquiry.
Amex Green - NPSL - 05/12
Amex Zync - NPSL - 06/12
Discover it - $7750 - 11/12
Chase Sapphire Preferred Visa Signature - $5000 - 11/12
SECU Platinum Visa - $5000 - 08/08
Bank of America Cash Rewards Platinum Plus Visa - $3000 - 06/08
Citi Diamond Preferred Mastercard - $3000 - 05/12
GECRB Old Navy Visa - $2500 - 11/12
Chase Amazon Visa - $2000 - 11/12
Chase Freedom Visa - $2000 - 07/12
Citi Thank You Visa - $1000 - 06/12
Amex Blue Cash Everyday - $1000 - 01/13


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Snowman
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Postby Snowman » Wed Jul 11, 2012 7:44 pm

99- I think I you're right but it never hurts to try I think...but I will see.

Rat- I believe on the 5th was when my new balance was reported and when i checked on Credit Karma, my score had shot up to 729 (it was 680 before)...idk about the other two scores (I'm guessing CK posts transunion scores). The balance was reported at 0 last time I checked.
Bank Of America: BankAmeriCard Cash Rewards-4.2k
Citi: Forward-4.5k American Airlines Advantage Platinum Select World Elite MasterCard 9/6/15-4K
Discover: More-7k
Amex BCE.2k- Amex SPG-5k
Chase: Freedom-5kSouthwest Rapid Rewards Plus- 3.6k
Capital one: Venture one-10,000, Visa Signature.

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Snowman
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Postby Snowman » Fri Oct 05, 2012 6:28 pm

I'm going to rebump this thread. I've decided to avoid Amex for now and stick with companies I have a reasonable chance to get in with. Maybe I will apply with amex in December or April. Right now I am considering getting the Chase Freedom, or Citi Forward card for students. My income has gone up quite a bit. The income I had used in my other threads were from last year. This year my projected income is around 12,000 because my hours have gone up a lot this year, as well I got a second job. I make 400 through paychecks (every 2 weeks paycheck for 200, give or take, and then tips which come out to 150 for the three days I work, 50 dollars a day nearly, and I have a second job as doing payroll and sales for a franchisee (McDonald's, the guy owns about 10 of them throughout LA). I get paid from them 150 every 2 weeks so about 300 total. My income is right around 1,000 a month minus tax.) My only question, my history just passed right around 5 months and my account will officially be opened 6 months on the 25th. I also want to apply for Discover More, but not the student version since I do not attend a 4 year school. Based on my chances, do I have any chance of getting any of these cards? should I wait or apply now? should I wait until December or April to apply for any of these cards? Will any of these companies/banks ask to verify my income since it has gone up quite a bit this year compared to last year? I later one want to apply for an Amex Gold/Green but I have a feeling they want to see some more history before getting in with them. So my question is, the cards I mentioned above, Do I have a shot of getting them right now? should I wait until after the 25th? or when should I apply? and also should I get my fico score and CR after the 25th or is it available now? Thanks for reading, and I'll clarify if you need me to.
Bank Of America: BankAmeriCard Cash Rewards-4.2k
Citi: Forward-4.5k American Airlines Advantage Platinum Select World Elite MasterCard 9/6/15-4K
Discover: More-7k
Amex BCE.2k- Amex SPG-5k
Chase: Freedom-5kSouthwest Rapid Rewards Plus- 3.6k
Capital one: Venture one-10,000, Visa Signature.

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t528491
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Postby t528491 » Fri Oct 05, 2012 6:51 pm

The Discover More and the Citi Forward for students should both be fairly easy to get. The Chase Freedom is a bit harder from what I've heard, so I would wait a while on that one.
I was approved (for the Discover It) w/ a 12k income after only 6 months of history with the CapOne secured and as an AU on the Chase Freedom. They did ask where I work, but they didn't require proof of income or anything like that.

So what I would do is apply for the More or the Forward for students after the 25th, apply for the Amex Green in December (for backdating purposes), and apply for the Chase Freedom in April.
[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]

WS6R6
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Postby WS6R6 » Fri Oct 05, 2012 7:29 pm

As you saw in my other thread, I am not the norm but I got the Discover More after a week of CC history and a month later I was approved for the Freedom (After I had 1 Discover statement on my reports - the 2 companies like to compete with each other on these 2 cards, proof of having one can get you in with the other). I also know this to be true with my gf trying to get the Freedom a week after getting the More, she was denied then in recon told them she just got the More and they said to let Discover generate a statement (proof of having the card) then call back and she'd be approved. Also I am in college and my income is very similar to yours. Try getting the More since it's easier to get accepted for and then wait the month or so and apply for the Freedom....maybe it will work for you too! But I wouldn't worry about these 2 inquiries because that isn't a lot and they will hardly matter in 1 year, and not matter at all in 2 years. Usually me being terribly impatient fails me but here it worked out in my favor as I can now let all these accounts age together...you just never know with online apps and may just be surprised. Nobody knows exactly how these companies set up the criteria for getting instantly approved as people with much higher income have been denied then I sneak in with only 9k a year, so I would go for it. Good Luck!
Travel 3x, Groceries + Gas 2x: [color=Orange"]AmEx PRG[/color] (Closed)
Restaurants + Travel 2x: [color=navy"]Chase Sapphire Preferred[/color]
Groceries 3%, Gas + Department Stores 2%: [color=blue"]AmEx BCE[/color]
Dining + Entertainment 2x: [color=navy"]Citi Thank You Preferred[/color]
Hotels 5x: [color=Black"]Chase Marriott Rewards Premier[/color]
Rotating 5%: [color=darkorange"]Discover It[/color], [color=blue"]Chase Freedom[/color]
Restaurants 5x: [color=lime"]Citi Forward[/color]
Gas 5%: [color=gray"]PenFed Platinum Rewards[/color]
Future: [color=red"]US Bank Cash +[/color]

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Snowman
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Postby Snowman » Fri Oct 05, 2012 7:58 pm

Actually I was talking to my mom (she had a green card before, but she upgraded to Gold) and she was saying it was good for an entry level AMEX now, since Zync had been discontinued. Anyways I wound up applying for the Green, but I ended up getting denied. I don't know if this going to throw a wrench into things. I knew I had made the wrong decision when I applied, but I thought for just the heck of it I might just be one of the fortunate few to get approved, but guess not. Maybe one day.

W- I know, that's why I put the Freedom on there. I mean I saw you get approved and I was like this guy has no history and he got 2 prime cards already, what am I missing...lol. I really don't want the Student version of the more because I have heard on the other credit boards that for the student version of the more card they want you to be at a 4 year school. But I go to a community college and won't be transferring for another semester or two (or until the agency I want to work for starts hiring when and if again), so I didn't want it unless it was the regular version of the card, not the student version.
Bank Of America: BankAmeriCard Cash Rewards-4.2k
Citi: Forward-4.5k American Airlines Advantage Platinum Select World Elite MasterCard 9/6/15-4K
Discover: More-7k
Amex BCE.2k- Amex SPG-5k
Chase: Freedom-5kSouthwest Rapid Rewards Plus- 3.6k
Capital one: Venture one-10,000, Visa Signature.

Vermonster
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Postby Vermonster » Fri Oct 05, 2012 8:35 pm

FWIW I felt like I was in a similar situation. You can see my detailed story in my other thread. But they did pull a TransUnion CR for me and that was by far my strongest. One of the biggest things pulling me down was my lack of Revolving credit lines. So you might have a shot if your scores are close to mine.
Chase Freedom $9k~~Chase Sapphire Preferred $6.5k~~Amex Blue Cash Preferred $12.4k~~Citi Double Cash $4.7k

WS6R6
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Postby WS6R6 » Fri Oct 05, 2012 10:02 pm

FWIW mine is the regular and not the student version of the More...I got a pre-approval letter in the mail for it a week after getting my first CC and it sent me on my way from there......so big thanks to Discover! I would just try applying for the regular version, that's also the one my gf got with very little history. Discover's CSR's are VERY nice as well and so a recon might work through them with denial although I haven't read up on it so I'm not positive.
Travel 3x, Groceries + Gas 2x: [color=Orange"]AmEx PRG[/color] (Closed)
Restaurants + Travel 2x: [color=navy"]Chase Sapphire Preferred[/color]
Groceries 3%, Gas + Department Stores 2%: [color=blue"]AmEx BCE[/color]
Dining + Entertainment 2x: [color=navy"]Citi Thank You Preferred[/color]
Hotels 5x: [color=Black"]Chase Marriott Rewards Premier[/color]
Rotating 5%: [color=darkorange"]Discover It[/color], [color=blue"]Chase Freedom[/color]
Restaurants 5x: [color=lime"]Citi Forward[/color]
Gas 5%: [color=gray"]PenFed Platinum Rewards[/color]
Future: [color=red"]US Bank Cash +[/color]

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Snowman
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Postby Snowman » Sat Oct 06, 2012 12:17 am

T-should I get my cr and Fico score as well? My statement for my bora cards cuts after the 26th. However I made a wrong decision to apply for the green Amex today, but I hope it will not be a deciding factor if I get the cards or not. Like I said i just want to max of three cards and regret not waiting a little bit longer for it.

Vermont- yeah I noticed in your thread as well your lack of revolving lines, guess we both gotta just keep on improving one month at a time. I just hope my scores are in the higher 680's-700 range.

W- I never got a Pre approval but I am definitely Interested in the cards itself. How did you apply for the regular one while Putting student. They want to know where I go to school and graduate and stuff. I just do not want to waste another inquiry especially with the one I wasted today.
Bank Of America: BankAmeriCard Cash Rewards-4.2k
Citi: Forward-4.5k American Airlines Advantage Platinum Select World Elite MasterCard 9/6/15-4K
Discover: More-7k
Amex BCE.2k- Amex SPG-5k
Chase: Freedom-5kSouthwest Rapid Rewards Plus- 3.6k
Capital one: Venture one-10,000, Visa Signature.

WS6R6
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Postby WS6R6 » Sat Oct 06, 2012 11:37 am

I can't specifically remember what I put on the Discover app as it was the first online one I filled out and they run together in my mind now but I'm thinking since I went to a Junior College and got my Associates and now I'm at a University I selected Associates Degree on the online app under "highest level of education you've recieved:" because I did get my Associates and then it didn't ask me any further questions about schooling. I see now that there is a "currently still enrolled in school" option but at the time I must have been thinking that would be for someone who didn't have any type of degree yet and I didn't give it a second thought. However on the Citi one, I clicked apply on the regular version of the Forward and still filled out current school info on it and was approved for the regular Forward despite putting that I was still a student. So I honestly have no idea but that is what worked for me....there's no telling if I would have been approved for the Discover if I didn't get that mail offer since I was still so new to credit. But I do know like I said my gf did apply online without a pre-approval and limited history and got it as well. I would attempt it, and best of luck to you. If it doesn't work out then you could get your new game plan and attempt it next summer or next fall, however long you wanted to let these inquiries fade with time.
Travel 3x, Groceries + Gas 2x: [color=Orange"]AmEx PRG[/color] (Closed)
Restaurants + Travel 2x: [color=navy"]Chase Sapphire Preferred[/color]
Groceries 3%, Gas + Department Stores 2%: [color=blue"]AmEx BCE[/color]
Dining + Entertainment 2x: [color=navy"]Citi Thank You Preferred[/color]
Hotels 5x: [color=Black"]Chase Marriott Rewards Premier[/color]
Rotating 5%: [color=darkorange"]Discover It[/color], [color=blue"]Chase Freedom[/color]
Restaurants 5x: [color=lime"]Citi Forward[/color]
Gas 5%: [color=gray"]PenFed Platinum Rewards[/color]
Future: [color=red"]US Bank Cash +[/color]



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