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I'm thinking about applying for my first AMEX (Blue Cash Everyday). No history with them, but here are my stats below:
Current Credit Accounts, By Date Opened (current balance/credit limit):
Deferred Federal Student Loans - Approximately $28,000 (still in school)
Avg. Age of Accounts (via CreditKarma) - 1 yr, 4 mos. Oldest revolving credit account only dates back to October 2012 (above).
Current Inquiries -- all within past several months, so they are recent:
Current Scores:
My concern is my short credit history, perhaps the amount in deferred loans, as well as the abundance of new accounts and inquiries, and my score being too low.
Should I wait it out, or apply now so in the event that I am approved, the account age will be older than if I had waited? Just not too confident about applying and don't want to waste another pull.
Thanks!
Apply if.. you want! I am waiting in the garden until Dec 2013, or maybe early 2014 to apply for an AMEX card! My AAoA is 1yr2months.
Nice wallet of cards by the way!
+1
@09Lexie wrote:
Your scores, inq's and util are all good but your short history might be a problem. Amex has been a little weird lately but IMO a charge card first, then a revolver or wait until your credit is 1 yr.
Edit: plus all your cc is less than 6 mos old
Thanks all -- I'll consider applying in Oct. 2013 when my oldest credigt account is 12 months.
@dhon55 wrote:Thanks all -- I'll consider applying in Oct. 2013 when my oldest credigt account is 12 months.
Longer term it won't matter whether you get the card now or in October; I think that's a good plan.
I would wait for 6 months like others suggested, but skip the charge cards or any other cards that you don't want. Good luck on BCE in October!
Totally go for it! Amex has actually been pretty nice to everyone this month. Even allowing automatic approvals to some.
My very first two credit cards were both amex, PRG and BCE, opened this month. 12k income.
Just apply!
Thanks for the responses, everyone.
Since my oldest credit card account is only 6 months, I probably should wait until I have 1 year history. My older accounts are just student loans. My credit/revolving history is still very short.