What will a 770 credit score qualify me for?

Discuss the Visa & MasterCard payment networks as well as cards that operate through them.
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londonbridgefalls
 
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What will a 770 credit score qualify me for?

Postby londonbridgefalls » Wed May 09, 2012 10:45 am

Hi all,

I have a credit score of 770 average on all 3 reports. I have 1 First premier Mastercard with limit of $350 for me ($800 total if you count my mom's card attached to account), and 5 student loans currently in repayment.

Accounts are 5-12 years old.

What are my chances of getting a Chase Freedom or Amex Blue?

Thanks!


DavidNY
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Postby DavidNY » Wed May 09, 2012 1:25 pm

There are unknown variables here, but I'd say you have a fair shot, apply for whichever card you want more first and see how it goes.

I hope you're not paying any fees on that MC.

CC Deville
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Postby CC Deville » Wed May 09, 2012 4:00 pm

Like DavidNY said, we need more information.

770 is a very good score. Too good for First Premier.

What is your debt to credit ratio? Meaning, how much of your student loans do you still owe relative to their original balances?

Are you currently employed?

Creditors will look at a lot of items such as length of credit, any negative info, your income and your balances with other creditors.

Based on your score alone I would say it is likely that you could be approved for a Chase Freedom; however, your only other revolving credit history is with a really ghetto bank and a small credit line. You may want to try Capital One or possibly Citibank first. Then after 6 months to a year you could try for Chase.

DavidNY
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Postby DavidNY » Wed May 09, 2012 4:22 pm

I don't necessarily suggest axing the First Premier because doing so may impact the average age of accounts and debt utilization ratio. I would just go ahead and apply for either card you mentioned.

namvet
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Postby namvet » Wed May 09, 2012 6:05 pm

You qualify for the rating of Excellent credit guru on creditsesame.com

PopiLopi
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Postby PopiLopi » Thu May 10, 2012 11:42 am

If i were you I'll go with Chase Freedom first, they seem too be a bit more flexible than Amex
Amex: Business Platinum (09/12) BCP $10,500 (03/13)
Visa: Capital One Journey $750 (04/11) Chase Freedom $1,800 (04/12)
MasterCard Citi AAdvantage Platinum Select $8,500 (05/13)
Discover: Discover It $2500 (07/11)
Store Cards: Amazon $3900 (12/11) Macy's $500 (04/11) Kohl's $500 (05/12) Victoria's Secret $750 (11/12)

JCarter
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Postby JCarter » Thu May 10, 2012 5:59 pm

Ask First Premier to give you a credit line increase, and apply 30 days later to obtain the Freedom.

MemberSince99
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Postby MemberSince99 » Tue May 22, 2012 12:54 pm

londonbridgefalls wrote:Hi all,

I have a credit score of 770 average on all 3 reports. I have 1 First premier Mastercard with limit of $350 for me ($800 total if you count my mom's card attached to account), and 5 student loans currently in repayment.

Accounts are 5-12 years old.

What are my chances of getting a Chase Freedom or Amex Blue?

Thanks!


Your score is good enough for Amex Blue, but there is more than score that is taken into account. My own experience is I just got approved for it, and in the letter they sent I had a FICO of 788. You're certainly in that range. However, I've heard that they do not like to see companies like First Premier in your report.

Because of this and a bit of a thin file, I'd suggest that you try for Zync first. It's going to be easier to get, and will give you a prime card and build a relationship with Amex (if you wish to do so). Then after 6 months to a year with that, Blue should be a pretty easy shot for you.

Hope this helps you and good luck with whatever you way you go.



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