Should I apply for a new card?

Discuss the Visa & MasterCard payment networks as well as cards that operate through them.
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Snowman
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Posts: 630
Joined: Thu May 10, 2012 10:10 pm
Location: North Los Angeles County

Postby Snowman » Mon Dec 17, 2012 8:08 pm

Thank you! I'm fortunate that I got some great cards early on. The Freedom would have been my last card. I would have wanted until May/June anyways because then I wanted to apply for the BCE, but it looks like I will go for the Freedom as well. I guess in the denial letter that they just saw my BOFA account (Citi or Discover was not reporting as of yet, and I had gotten Amex back in November.) And none of them had started reporting so they I guess want to see some more history before trying again for it. You should have a good chance depending on your history and income. Also inflating income isn't a bad idea IMHO as long as you don't over do it (i.e claiming one year you make 12k and then next year you end up reporting that you made 130k, unless you really got a nice job or inheritance. Just be careful and stay under the radar, companies like these want the spending to match up with your income. Like I charge about 4-500 on my cards a month and have no issue, they're okay with it, but stay in your limits as much as you can. Trust me, stay under the radar, not on the radar.) If I were you though, I'd apply and see what happens, they like to see hardly any inquires and low utilization, and as long as everything is clean you should be good to go. Don't apply for 6 months after that, because scores are most impacted in the first six months of taking an inquiry. If they choose to decline you, try to recon, I have heard that they are extremely recon friendly. The card is worth the inquiry and It's one of my last 2 cards that I'm aiming for and hopefully I will be able to get it the 2nd time around. Good luck.
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.


Kicker
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Joined: Tue Jun 12, 2012 5:37 pm
Location: California

Postby Kicker » Tue Dec 18, 2012 4:32 am

Hey, I just applied and I got instantly approved. It didn't give me a CL or anything though. I think when your accounts age a little, you should get approved in no time.
My Wallet:

Wells Fargo Visa - $1200 (Obtained 2011)
AMEX Green - NPSL (Obtained 2012)
Chase Freedom - $3000 (Obtained 2012)
Citi Diamond Preferred - $2000 (Obtained 2013)

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Snowman
Centurion Member
Centurion Member
 
Posts: 630
Joined: Thu May 10, 2012 10:10 pm
Location: North Los Angeles County

Postby Snowman » Tue Dec 18, 2012 10:14 am

Nice! you have a very good card coming your way. Yeah, that is what I'm thinking too. I'll let my accounts age for 5-6 months and give it another shot.
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.

Kicker
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Posts: 51
Joined: Tue Jun 12, 2012 5:37 pm
Location: California

Postby Kicker » Wed Dec 19, 2012 9:17 pm

Yeah definitely. I checked my CL on the phone and they gave me 3000. Not bad I guess!
My Wallet:

Wells Fargo Visa - $1200 (Obtained 2011)
AMEX Green - NPSL (Obtained 2012)
Chase Freedom - $3000 (Obtained 2012)
Citi Diamond Preferred - $2000 (Obtained 2013)

User avatar
Snowman
Centurion Member
Centurion Member
 
Posts: 630
Joined: Thu May 10, 2012 10:10 pm
Location: North Los Angeles County

Postby Snowman » Thu Dec 20, 2012 10:50 am

Nice! that's an excellent starting CL!
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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