Approval Odds for the Marriott Rewards Visa Signature?

Discuss the Visa & MasterCard payment networks as well as cards that operate through them.
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lubic4sho
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Approval Odds for the Marriott Rewards Visa Signature?

Postby lubic4sho » Thu Feb 20, 2014 6:24 pm

Hey everyone, I'm 20 years old and I have a question regarding my odds of getting approved for an Marriot Rewards Visa Signature card. Yeah, the black one lol

Ok, so according to credit karma this is what my credit report looks like:

Score: 718
Credit Card Utilization: 4%
Average Age of Open Credit Line: 1 yr 6 mo
Total Accounts: 4 (1 credit card, 1 AMEX Green card, 1 car loan, 1 student loan)
Credit Inquiries: 4 (most recent one was in November 2013)

And according to Experian.com:
Credit Score: 720
Revolving Credit to Debt Ratio: Credit 78%/Debt 22%

So what do you guys think? I'd love to be able to apply and approved!

Thanks everyone!


PowerMan572
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Postby PowerMan572 » Fri Feb 21, 2014 5:56 pm

What are your credit limits on the other cards? I tried applying for this card and got denied :-/ my own fault though. I had a Charge off with Chase back in 2011.

I called the reconsideration line and the lady said she can see I've been rebuilding my credit since then, but none of my creditors had given me a limit of at least $5k yet. Since the Marriott card is a "Premier" card she stated the minimum opening credit limit is $5k. If you're squeaky clean with your other cards and have a high limit of at least $5k, I would say go for it.

I ended up going with the Venture card in the end anyway. Double miles for every purchase. Oh, and they gave me a $5k opening credit line ;-) Looks like I should be able to apply for the Marriott card in about a year then.

Let me know what you decide!

CC Deville
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Postby CC Deville » Fri Feb 21, 2014 10:37 pm

1) A large part of your FICO score (the score that matters) is payment history; 1.8 years is not really "history"
2) Unless your one Visa/MasterCard has a $5K + limit, it is unlikely that Chase will want to pop your $5K cherry
3) At 20, do you earn enough to pass their ability to repay (enough to pay monthly living expenses and the car loan payment/student loan) calculation?
4) At 20 you should still be in the building state of credit and such premium cards usually come a little later in life.

I suppose if you are an auth user on one of mom or dad's credit cards, Chase could be fooled into thinking that you have higher limits. But on your own I am not sure you would be approved at this time.

Try their pre-approval site here (or go to Chase.com, Products and Services, Credit Cards, All Credit Cards, upper left hand corner click Check for Pre-Qualified Offers if you do not trust my link):


It would be a soft inquiry (only you see it on your bureau) and keep in mind if they do find something for you it is not a guarantee that you will be approved. If I had to guess I'd say that the pre approval site is generally for non partner (ie Marriott) cards such as Slate, Freedom and Sapphire cards. If they recommend Sapphire that is a good sign as (as far as I know) Sapphire cards are all Visa Signature and have at least a $5K limit.

UPS Gregg
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Postby UPS Gregg » Sat Feb 22, 2014 9:39 am

I noticed their 70,000 bonus points offer was back. When I applied the spending requirement for the bonus points was $1000 in three months. Now it's $2000.
Current FICO: 805 (Equifax)

Current Cards:

*USAA Platinum MasterCard CL-$1,000.00
*USAA Signature Visa Card CL-$15,000.00
*USAA Rewards Amex CL-$15,000.00
*HSBC Best Buy Card CL-$3,300.00
*Amex Macy's CL-$8,000.00
*JPMorgan Chase Marriott Rewards Premier Visa Signature CL-$20,000.00

Rory
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Postby Rory » Sat Feb 22, 2014 10:32 am

i got it with similar scores, 14% utilization but a few of my limits are very close to or exceed the 5k minimum limit. fun card but really analyze how much you will use it. categories for the free night aren't all that great
Amex Zync - NPSL (Cleared up to 25k)
Amex BCE - 12000 limit
Amex BCP - 4200 limit
FIA Rewards Amex- 3500 limit
Chase Freedom - 2000 limit
Chase Slate - 2000 Limit
BoA Cash Rewards Privileges- 3000 limit
Barclaycard Rewards MC - 3000 limit
Discover IT- 3500 limit
Marriott PR- 5000 limit
21 years old with alot of life to spend ;)
Its not about the ending, its about the journey,
just as long as the ending is just as good :cool:

thom02099
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Postby thom02099 » Sat Feb 22, 2014 11:25 am

lubic4sho wrote:
And according to Experian.com:
Credit Score: 720
Revolving Credit to Debt Ratio: Credit 78%/Debt 22%

So what do you guys think? I'd love to be able to apply and approved!

Thanks everyone!


Out of curiosity, why that card versus other Visa Signature cards?

Check your FICO Experian score at the MyFICO site. The Experian site is not a FICO score, it's their internal enhanced score.

As stated before, you're going to probably need one other $5K limit card before you can get this one. Chase is pretty particular about this.
Retired, and in the process of retiring cards!
EQ = 846 EX=828 TU = 836 as of 02/2016

lubic4sho
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Postby lubic4sho » Mon Feb 24, 2014 9:21 pm

CC Deville wrote:1) A large part of your FICO score (the score that matters) is payment history; 1.8 years is not really "history"
2) Unless your one Visa/MasterCard has a $5K + limit, it is unlikely that Chase will want to pop your $5K cherry
3) At 20, do you earn enough to pass their ability to repay (enough to pay monthly living expenses and the car loan payment/student loan) calculation?
4) At 20 you should still be in the building state of credit and such premium cards usually come a little later in life.

I suppose if you are an auth user on one of mom or dad's credit cards, Chase could be fooled into thinking that you have higher limits. But on your own I am not sure you would be approved at this time.

Try their pre-approval site here (or go to Chase.com, Products and Services, Credit Cards, All Credit Cards, upper left hand corner click Check for Pre-Qualified Offers if you do not trust my link):


It would be a soft inquiry (only you see it on your bureau) and keep in mind if they do find something for you it is not a guarantee that you will be approved. If I had to guess I'd say that the pre approval site is generally for non partner (ie Marriott) cards such as Slate, Freedom and Sapphire cards. If they recommend Sapphire that is a good sign as (as far as I know) Sapphire cards are all Visa Signature and have at least a $5K limit.




Alright, let me add some details. My credit limit on my single Visa card was $500 this past Sunday. So after reading the forum posts, I decided to go for a credit limit increase, I'm way over due anyway.

After calling them, I got an $8k limit increase. In total my credit limit is $8,500 solely on the Visa. Naturally AMEX won't say what my limit is, so that doesn't count.

So do you guys think that makes a much bigger difference?

CC Deville
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Postby CC Deville » Tue Feb 25, 2014 4:43 pm

lubic4sho wrote:Alright, let me add some details. My credit limit on my single Visa card was $500 this past Sunday. So after reading the forum posts, I decided to go for a credit limit increase, I'm way over due anyway.

After calling them, I got an $8k limit increase. In total my credit limit is $8,500 solely on the Visa. Naturally AMEX won't say what my limit is, so that doesn't count.

So do you guys think that makes a much bigger difference?


It has been discussed on several boards that Chase likes to see at least one other creditor that has given you $5K + so based on that, yeah, I think it makes a difference. Also discussed on these boards is that it is believed that the partners (ie Marriott) take some of the risk on these co branded cards; and therefore, the approvals are easier to get but as always, your mileage may vary. I got a Chase card at 22 (back in 2001) and at the time I had two other cards with $5K limits. Caveat: this was the real Chase Manhattan and not the current Bank One in disguise; and of course, things change in 12 years.

At the very least you will want to make sure your credit line increase is reporting before you app.

Of course, the only way to know is to just app for it. At 20 and with as little credit as you have, one inquiry isn't going to kill you. If you get approved, awesome, if not, no big deal.

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djrez4
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Postby djrez4 » Tue Feb 25, 2014 4:56 pm

A limit increase on the account isn't going to help until it reports on your credit. Chase can't see it. Right now, it's still reporting as a $500 card. You may have to wait a month or more for the new limit to report and become visible in a credit check.
[RIGHT][size=100]- Sapphire Preferred - Freedom - Ink - Platinum - Everyday Preferred -[/size]
[/RIGHT]

UPS Gregg
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Postby UPS Gregg » Sat Mar 01, 2014 11:19 am

I just logged onto the Marriott Rewards website. My 70,000 bonus points, plus the points for what I've already spent, are now posted. :) My wife and I have been using the card for almost everything (she used her debit card by mistake to pay for groceries one day) that can be paid with a credit card. I have to admit that I'm still having trouble getting used to using a credit card for everything. Until I applied for the Marriott card we had pretty much stopped using credit cards so we are used to instantly knowing exactly how much money we have sitting in the bank after each and every purchase. I'm not liking having to wait days for my credit card payments to post and therefore having to juggle several sets of numbers to get a grasp of exactly how much money we have in our checking account. I know that there are various ways of solving this by implementing my accounts into spread sheets or banking software but I have no experience in those things. What a pain.
Current FICO: 805 (Equifax)

Current Cards:

*USAA Platinum MasterCard CL-$1,000.00
*USAA Signature Visa Card CL-$15,000.00
*USAA Rewards Amex CL-$15,000.00
*HSBC Best Buy Card CL-$3,300.00
*Amex Macy's CL-$8,000.00
*JPMorgan Chase Marriott Rewards Premier Visa Signature CL-$20,000.00



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