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New Contributor
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Registered: ‎06-02-2013
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Re: 9 months AAoA, High (80%) Utilization, 100% On Time Payments

They don't care about Bank deposits. They have no idea if they are yours, how you got them, if they are owed and going to be used for other things.

If women didn't exist, all the money in the world would have no meaning. -- Aristotle
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Regular Contributor
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Re: 9 months AAoA, High (80%) Utilization, 100% On Time Payments

That's crazy thecentury303, I thought Chase didn't approve people with < 2 years credit history ... Just can't trust the interwebs hehe

 

Congrats,

 

I spend $250 a month on gas, $450 groceries and $300 or so dining out ... BCE is totally made for me

$26500 Amex EDP / $20000 Merrill+ / $12000 Chase Sapphire Preferred / $12000 Chase British Airways / $7500 Barclays Arrival+ / $7500 FIA Amex / $7500 Paypal Extras MC / $7000 Chase Freedom / $3500 Discover It
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Re: 9 months AAoA, High (80%) Utilization, 100% On Time Payments

The Sallie Mae Mastercard would be a good card to look into it sounds like for you.

If women didn't exist, all the money in the world would have no meaning. -- Aristotle
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Current Score:  761
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Registered: ‎04-04-2013
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Re: 9 months AAoA, High (80%) Utilization, 100% On Time Payments


GatorGuy wrote:

The Sallie Mae Mastercard would be a good card to look into it sounds like for you.


I was going to suggest the same thing, until I noticed the $450 on groceries. You really spend that much per month at the grocery store???

 

If so, you want the BCP, not BCE. But it might be too soon for you to apply  for an American Express.


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Re: 9 months AAoA, High (80%) Utilization, 100% On Time Payments

Whole Foods ... they rape.

 

I'll get around to cooking my own meals sometime, plus there's a girl that works there that I like.

 

Yeah I figured it won't be a while before I have even half a chance of getting that Amex, sucks we don't have Chase in my State ... I would have opened a checking account with them, established some relationship and parlayed that somehow into a Freedom or Amazon rewards card. Seems like I'll just be stuck with Wachovia.

 

@Gator I only assumed deposits would work because my apartment community asked for them before I got accepted as a tenant here. Also high income doesn't always correlate with creditworthiness, some folks are just irresponsible. I think companies should look look at my disposable income and drool, instead of worrying about how much utilization I have. If it was 15K ~ 20K I'd understand, but 1.5K - 2.5K limit isn't really that risky.

$26500 Amex EDP / $20000 Merrill+ / $12000 Chase Sapphire Preferred / $12000 Chase British Airways / $7500 Barclays Arrival+ / $7500 FIA Amex / $7500 Paypal Extras MC / $7000 Chase Freedom / $3500 Discover It
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Re: 9 months AAoA, High (80%) Utilization, 100% On Time Payments

You don't need a banking relationship to get a Chase credit card. 

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Re: 9 months AAoA, High (80%) Utilization, 100% On Time Payments

Lenders look at util, income, credit history when approving/declining. If your income was high, they'd wonder why your util is so high? Are there undisclosed debts? Does he/she just like paying interest?

Bottom line is high util is a killer to your FICO and a big red flag to lenders.
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Registered: ‎02-27-2013
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Re: 9 months AAoA, High (80%) Utilization, 100% On Time Payments

Like others have said, do pay down the utilization before you app. Bank deposits does help for some banks, but they can only help so much. Banks are not going to overlook that 80% utilization.

Secondly, before you apply, read the whole T&C thoroughly. Some banks / cards (i.e Barclays) are only available for citizens / permanent residents. Some, such as Wells Fargo, citi and Bank of America, require people whom are not citizens or permanent residents to apply over the phone or in person at the branch.

JPMorgan Palladium (100k), AmEx Platinum (NPSL), AmEx SPG (46k), AmEx BCP (42k), Chase Sapphire Preferred (47k), Citi Prestige (31k), Citi Thank You Preferred (27k), Citi Executive AAdvantage (25k), JPMorgan Ritz-Carlton (21k), Merrill+ (15k), US Bank Cash+ (22.5k), Wells Fargo (12k), Bloomingdale’s (12.4k), Chase Freedom (5k), Discover IT (5k).
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Re: 9 months AAoA, High (80%) Utilization, 100% On Time Payments


Dubious wrote:

You don't need a banking relationship to get a Chase credit card. 


+1... Never banked with Chase and I have the Freedom..and they are Pre-approving me every two weeks for their other cards. I would advise you to get your utilization down to @ 9% and let it report before you do anything. I think it's a bit too soon for the BCE, but one never knows. If you feel you're ready, then go ahead and apply. The worse that can happen is denial. It's not the end of the world and they will tell you what you need to do to get your profile up to par!!!!


Starting Score: TU 686 EX 641 EQ 690
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BCE $12.5K, 5/3 Sig $10K, Wally Discover 10K, Cash+ $9K Sam's Discover 10K, Freedom $6K, Zales $5.5K, More $5K, Cap one $5K, Barclay 2.5K, Household Plat $1.5K, Household Gold $1.5K, Credit One $1K, First Premier Plat $.675K First Premier Gold $.65K
Regular Contributor
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Registered: ‎04-25-2013
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Re: 9 months AAoA, High (80%) Utilization, 100% On Time Payments

On my application I lied and checked the U.S. citizen box.

 

Anyway, I'll pay everything off and start walking around with bags of cash. This is the world we live in I guess, where we have to play these silly games.

$26500 Amex EDP / $20000 Merrill+ / $12000 Chase Sapphire Preferred / $12000 Chase British Airways / $7500 Barclays Arrival+ / $7500 FIA Amex / $7500 Paypal Extras MC / $7000 Chase Freedom / $3500 Discover It
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