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Amazon Store card: Approved with high util

New Visitor

Amazon Store card: Approved with high util

Hello. This is my first post in this forum, but I've been lurking around a bit trying to learn from the experience of others what I probably should and shouldn't be doing in regards to my credit.

 

My credit isn't very impressive at the moment, but I've been wanting/needing a new computer. I hesitantly decided to apply for the Amazon store card and was instantly approved for $1,400.

 

Here's an overview of my credit:

 

My EQ and TU scores are 650.

 

My total net income is $47,000 which is good for where I live.

 

I have one $50 medical collection on my account that's about 4 years old.

 

I have one $500 Capital One card with no balance and one $500 Capital One Best Buy card with a $400 balance.

 

I have a GE and a Wells Fargo furniture card which limits total $9,000.

 

My credit card utilization is 67% (I know this makes some of you queezy); mostly all of which come from the two furniture cards, and I have a car and student loans that total 54k.

 

So after paying my GE furniture bill ontime every month for 6 to 8 months, GE increased my limit with them automatically by about $2,000. Simultaneously, I received a pre-approval for a Wal-mart card backed by GE which I didn't apply/accept.

 

But now that I'm in the market for a new computer, I considered financing through Amazon backed by GE since GE seemed to be willing to extend more credit to me.

 

I was afraid of rejection due to the high util and I didn't want the hard pull bringing my score down for nothing, but in a couple of months after I pay off my Best Buy card and GE card, my score is going to pop up considerably anyway so I figured what the heck.

 

I applied and was instantly approved for $1400. I think that had my credit util been lower, especially on the GE card, I would have been approved for atleast $2500 but I'm good with this limit.

 

Once I get my util down and scores back above 700, I want to try for the Chase Amazon card.

 

So yeah, hope this helps anyone who has a credit profile similar to mine decide on whether or not they should apply for the Amazon Store card. My util is high right now but I think what helped me is my payment history.

 

Message 1 of 7
6 REPLIES
Valued Contributor

Re: Amazon Store card: Approved with high util

Congrats! GE is a great company and Amazon store card has great financing! Mine went from $1400 to $5000 in less than a year


Last Pulled EQ: 809
Last Credit Card App: 02/05/2016
Last CLI: 02/06/2016
Find Me: Gardening
Message 2 of 7
Senior Contributor

Re: Amazon Store card: Approved with high util

Congrats!! I love GE! I was instantly approved last year for $1200, and it has gone up to $3000!
Marriott PR$25k | BCE $24.5K |BankAmericard Visa $25k| BOA Better Bal $17.5k |Wmt Discover $12.5k | BR Visa $17.5k | Amex Delta Gold $10k | Discover IT $10k | Paypal Extras MC $15k | Amazon Store $10k|Smile Gen $7.25k | Dillard's $10k | West Elm $4k| Express $3.05K | Mypoints.com Visa $4.5k | Freedom Visa $1k| Amex Surpass $1k
Message 3 of 7
Contributor

Re: Amazon Store card: Approved with high util

Congrats! I was recently approved for amazon chase with a 1500 cl. Can't to receive the card Smiley Happy
current cards
WM store
Cap1 platinum
WF secured
Amazon Chase Smiley Happy
Gardening since 12/20/2012
Message 4 of 7
Valued Contributor

Re: Amazon Store card: Approved with high util

Nice going, Congrats!

Starting Score: EQ 717 EX 724 TU 736
Current Score: EQ 832 EX 783 TU 816
App free since 9/15/15
Message 5 of 7
Valued Member

Re: Amazon Store card: Approved with high util

Congrata! It's a great card and will grow nicely. I use mine all the time. 


Starting Score (January 2013): TU: 704, EQ: 679, EX: 687
Current Score (September 2013): TU: 741. EQ: 703, EX: 712
Goal Score: 730 Across the Board


Take the myFICO Fitness Challenge
Message 6 of 7
Valued Contributor

Re: Amazon Store card: Approved with high util

Cool and congrats!  I recently got mine as well so it will be interesting to see how well it grows.


Major CC's - Barclay's ($5.5K) | Barclay's Sallie Mae MC ($5K) | DCU ($7.5K) | Discover IT ($1.4K) | Genisys Visa ($1.4K) | NFCU Visa ($22K) | Navcheck ($15K) | Chase Freedom ($5K) | SDFCU Visa ($8K) | Amex BCP ($9.5K) | Amex Delta ($10K) |Store CC's| -Amazon ($4K) | Catherines ($850) | JCP ($4K) | Macy's ($1.7K) | Avenue ($850) | Victoria's Secret ($1.4K) | Walmart ($4.1K) | Paypal SC ($1.3K) | HSN ($2.5) | Sears ($2.6K) | Sams Club ($4.1K) |Goal|: Age with grace to 750 across the board |Last app|: 3/3/2014
Message 7 of 7