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First Non-store Cards? - Update - Approvals

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TLP
New Member
New Member

First Non-store Cards? - Update - Approvals

SO!

I live in New York City, and currently make 50k a year.  I currently have no credit cards that aren't store cards. I'd like to get a rewards points card, since I will be using it/them for all purchases that I don't HAVE to use cash for (since I currently work under that schema with my debit card).  My two preferences are Amex and CitiBank, which is where I have my Savings and Checking account.  I would ideally love to have a no fee rewards card (I have no intention of carrying balances) like the ThankYou Preferred to supplement my banking points (CitiBank gives me ThankYou points for having autopay billing and direct deposit), and an Amex charge card that would be used for the bulk of spending (everywhere it is accepted).  Through this, I'd be gaining points form the Amex for everyday things from starbucks to lunch, and through a ThankYou card with no annual fee I'd catch any lost points from places that don't accept Amex.

 

History:

I had a Citi card linked through my father while I was in college that was opened in 2006, and closed in 2011 with a limit of $1000 around the time I graduated.  In the beginning of 2012 (might even have been end of 2011) I applied for an Amex Zync and was denied - I don't recall the reasons, but I suspect it was largely due to having no active accounts and $0 income.  Anyway, I ended up with their Amex prepaid card which I almost never used, and still have with a balance of $3.43.  I abandoned the idea of getting a card since I had no income to pay it with until September of 2012, recently employed, when I opened an Amazon.com Store Card.  I figured anything I wanted online I would be able to find through Amazon. The card had its limit increased very quickly to $1900.  I started renting my own apartment in March 2013, got a hard inquiry there, and then when I bought my mattress from Sleepy's I financed it without realizing this would mean I now had a Sleepy's credit card - the most useless of all store cards..ever...with a limit of 3k.   I received an Amex pre-screened letter in the mail a few days later for the Green Card, and got a little greedy and applied instead for the PRG card.  Denied.  Applied for Green, Denied.  Went to CitiBank.com and applied for the ThankYou.  Denied.  My credit scores were TU 784/EX 733/EQ 643. I didnt realize that I had just applied while having 2 very young accounts.  It was also worth noting that EQ wasnt reporting my old closed CitiCard.

 

Anyway, its been almost a full year since my failed applications (1 yr mark will be March 27th) and I'd like to give it a second shot, but figured I would try and get the opinions of some more educated minds on credit and credit cards.  I JUST had my Amazon store card increased to a limit of 2500k today, and have a TU score of 743.  I went thorugh the free trial on Experian.com to get my $0.99 Plus Score FAKO, which as of last friday was 750.  My amazon store card has a balance of $1018 since I took advantage of the 0% financing on a large purchase.  I will be waiting until next month to pull my full set of 3 FICO scores from myFICO.com after I've paid the balance of my Amazon.com card to $450 and the credit limit increase has had time to be reflected in the next bill (and in scoring on FICO).

 

Experian showed that I have 4 hard inquiries on my account from last march still (Citi, Amex, Sleepy's, tenant screening), with an average account age of 3 years.  I have never been late on a payment.

 

Transunion, as of December 20th, shows 0 hard inquiries, with an average age of 3 as well. 

 

My calculated utilization of this moment is about 18%.

 

What should my approach be and what do you guys think my chances are?  I'm very afraid of getting denied again and ending up with 6 inquiries on my EX.  If you all have thoughts on other card ideas feel free to share them.  I know that both my parents have excellent long standing relationships with Amex and recommend it (it also has a certain attraction to it, although many might disagree; my girlfriend's father calls them American Excess cards.), and I can obviously see the logic in having a card through my own bank.

 

Please forgive the essay.


Amex Everyday $14500 | Discover IT $8500 | Citi TYP $6000 | Amazon Store Card $6000 | Sleepy's Store Card $3000
Message 1 of 16
15 REPLIES 15
BearsAndTurtlesRtheBest
Senior Contributor

Re: First Non-store Cards? (Very Detailed Profile)

I say 1 year was enough time for your amazon card to gain payment history  how does your EQ report look like?

Discover IT $2,600- First Premier MasterCard $1,000- Dillards Store Card $300- Fingerhut Advantage $200
Chapter 7 BK Dischagred on 07/11/16. Gardening Since 01/17/2019
Message 2 of 16
Creditaddict
Legendary Contributor

Re: First Non-store Cards? (Very Detailed Profile)

go to citicards.com and do the check for pre-qual offers and see if you get offered the thank you card... If So... APPLY.

2. Apply for Amex PRG again now.. If Approved, I would go back and apply for a  amex credit card like blue cash.

Message 3 of 16
TLP
New Member
New Member

Re: First Non-store Cards? (Very Detailed Profile)

Unfortuanately I dont have that report yet, although it was 680 6 months ago.

 

On citi's site the first cards that come up are in this order:

ThankYou Premier

ThankYou Preferred

Platinum Dividend Select

Platinum Select/AA Advantage World

Hilton HHonors Signature

 

 

Does this mean I should be a shoe in for the ThankYou Premier?  Would I be taking a risk applying for the Premier and then downgrading to the preffered in a years time?


Amex Everyday $14500 | Discover IT $8500 | Citi TYP $6000 | Amazon Store Card $6000 | Sleepy's Store Card $3000
Message 4 of 16
Trivolve
Contributor

Re: First Non-store Cards? (Very Detailed Profile)

Try barclaycards, they pull TU which you have highest score. They have the barclaycard Rewards, apply for the version that only needs Fair credit (there's a fair credit and a excellent credit version)
[Total CL: $97K] Citi Forward, BoA BankAmericard Travel Rewards, Discover It, Chase Freedom, Chase Hyatt, AMEX Blue Cash, AMEX Hilton Hhonors, Chase Sapphire Preferred, Citi Thankyou Preferred, Barclaycard Arrival Plus, AMEX Platinum, Chase IHG
Message 5 of 16
Creditaddict
Legendary Contributor

Re: First Non-store Cards? (Very Detailed Profile)


@Trivolve wrote:
Try barclaycards, they pull TU which you have highest score. They have the barclaycard Rewards, apply for the version that only needs Fair credit (there's a fair credit and a excellent credit version)

again try the pre-qual:

https://www.barclaycardus.com/apply/ProactivePrescreenLanding.action

Message 6 of 16
TLP
New Member
New Member

Re: First Non-store Cards? (Very Detailed Profile)

To be honest, im not particularly interested in a Barclaycard.  The whole thought process behind the ThankYou card was to supplement what I already get from banking there.  Its not really enough to buy anything with on its own (<1000pts a month), so adding a card would make it potentially worth while in the long run.  I'm nervous though, because I've heard Citi can be very picky with who gets their cards.  Has anyone had good experiences with the online pre-selector?


Amex Everyday $14500 | Discover IT $8500 | Citi TYP $6000 | Amazon Store Card $6000 | Sleepy's Store Card $3000
Message 7 of 16
Themanwhocan
Senior Contributor

Re: First Non-store Cards? (Very Detailed Profile)


@TLP wrote:

To be honest, im not particularly interested in a Barclaycard.  The whole thought process behind the ThankYou card was to supplement what I already get from banking there.  Its not really enough to buy anything with on its own (<1000pts a month), so adding a card would make it potentially worth while in the long run.  I'm nervous though, because I've heard Citi can be very picky with who gets their cards.  Has anyone had good experiences with the online pre-selector?


Well, thankyou points are pretty bad. Not even worth a cent each. $1000 gets you about $8 of cash back value at best. Versis a good 5% card that would get you $50 for the same amount of spend. 

 

They should call those Thanks But No Thank You points.

 

Barclays is a good idea, although I would suggest the Salie Mae Mastercard (its a Barclay card) available via salliemae.com, since 5% cash back is much more significant than Thankyou points. And no, you don't need a sallie mae loan or anything to use it. And you may want to start obtaining 5% rotating category cards like the Discover IT. Or consider the cards in my signature (just the blue ones...)

 

But the idea here is to try for the ones that are easier to obtain, and get the rest after a few months. Hence the Discover and Sallie Mae suggestions.





TU-8: 804 EX-8: 805 EQ-8: 788 EX-98: 767 EQ-04: 752    
TU-9 Bankcard: 837 EQ-9: 823 EX-9 Bankcard: 837
Total $443,800
Message 8 of 16
Creditaddict
Legendary Contributor

Re: First Non-store Cards? (Very Detailed Profile)


@TLP wrote:

To be honest, im not particularly interested in a Barclaycard.  The whole thought process behind the ThankYou card was to supplement what I already get from banking there.  Its not really enough to buy anything with on its own (<1000pts a month), so adding a card would make it potentially worth while in the long run.  I'm nervous though, because I've heard Citi can be very picky with who gets their cards.  Has anyone had good experiences with the online pre-selector?


yes, everyone that I know that has gotten a solid offer from the online pre-selector got approved that chose to apply.

I to agree that I would not use a citi as my daily card though, the rewards are terrible

Message 9 of 16
Chris679
Established Contributor

Re: First Non-store Cards? (Very Detailed Profile)

Thank you points can used to buy retail gift cards at 1% for a huge selection of retailers. Not quite as good as cash but very close
Message 10 of 16
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