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Valued Contributor
dodfire
Posts: 1,453
Registered: ‎04-14-2012
0

Re: AMEX Credit card question


myjourney wrote:

TJNDND wrote:

Only about 2 months for the Capital One card.  I tried applying for a Citi Simplicity card like my wife has, but was declined.  I'm trying to get at least one more card to A. increase my available credit, and B. find one with a low interest rate since the Capital One card is like 24.99% or something.

 

Suggestions for any other cards that might be within my reach would be appreciated as well as I know that the AMEX cards are not revolving.  Had I known this forum was here I probably would have asked before wasting my time with the Citi application....

 

Thanks again - this forum is great!

 

TJ


When you start to see declines it's time to stop applying and let your accounts age a bit.

 


I agree with this......

You might look at Discover but......

Since your CapOne card is only 2 months old I would suggest you wait another 4 months and then apply for something.

And, when you apply make sure that your utilization is between 1%-9%

*8/10/13
Established Member
TJNDND
Posts: 11
Registered: ‎03-11-2013
0

Re: AMEX Credit card question

It's a CL of $1000, I have about $180 on it currently.  I pay it off in full every month. 

 

The decline I received was on a Citi simplicity card with 0% intro rate for a year.  I'm just wondering if the decline means I need to wait to apply again for "anything", or if the decline was simply a result of applying for a card that was "out of my league" in relation to my credit scores/history. 

Frequent Contributor
codimom
Posts: 395
Registered: ‎09-08-2010
0

Re: AMEX Credit card question

Welcome to the forum!
With your card being such a young one :smileyhappy: I would wait til it hits its 6month mark before I would apply for any other card.
I pay my cards in full every month so I don't worry too much about the interest rate, but I do see your point.  By using and paying on your Cap1 card responsibly,  you will show creditors you can handle credit, and they may be more inclined to grant you a new card.

Back in the garden!
App free since 23Oct2012 reset to 27Aug13 and reset again 4nov13
Frequent Contributor
codimom
Posts: 395
Registered: ‎09-08-2010
0

Re: AMEX Credit card question


TJNDND wrote:

It's a CL of $1000, I have about $180 on it currently.  I pay it off in full every month. 

 

The decline I received was on a Citi simplicity card with 0% intro rate for a year.  I'm just wondering if the decline means I need to wait to apply again for "anything", or if the decline was simply a result of applying for a card that was "out of my league" in relation to my credit scores/history. 

 

I don't remember seeing how many total inqs are on your file... asking for too much too soon looks bad on your report.  Inqs stay on your file for 2 years, but really only count 'against' you for 1 year.  When you do decide to apply for your next card, try paying your Cap1 down to less than 9% util (so $90?) and then apply.  Utilization is a big key.

 

If you must have another card, you could try a store card, or go to your local credit union.   Then you can baby step your way into the prime cards like amex and citi.

Back in the garden!
App free since 23Oct2012 reset to 27Aug13 and reset again 4nov13

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