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Frequent Contributor
bluesnowman
Posts: 464
Registered: ‎10-29-2012
0

Advice, what should I do?

Hi Guys,

 

As you guys have known for the last few months my credit goals have included getting the Chase Freedom and the Amex BCE and some other cards. My question is, should I apply now, or should I resist my temptation and wait it until June, or just go ahead and apply in the upcoming month.

 

These are the cards I want to try for but I don't know if I would get approved 1. American Express Blue Cash Everyday,  2. Chase Freedom, 3. Chevron Gas card  4. Southwest card (I have heard of people getting approved for lower limits like 2-3k here on the forums but I doubt I would get approved for it. ) 

5. I am planning to open an IRA soon, and maybe with either Fidelity or T.Rowe Price, If I open with Fidelity, could I possibly go for their card?

6. If I do not get approved for the BCE, I plan to apply for the Delta Gold since I have heard it is the easiest of revolvers to be approved for. The question is, do I qualify for any of the cards I mentioned or at least have a chance at going for them?

 

I have a total of 3 inquires on EX (Amex, Chase, Citi) 2 on EQ (Amex and AT&T) and 2 on TU (Amex and Discover) and yes Amex did triple pull me.

 

My EQ as of today is: 723 and my TU scores as of today is: 724. I'm not sure of my Average Age of my accounts, but my BOFA card is my oldest card at 11 months (will be a year on the 25th of next month). I also have no baddies, no PR's, everything's clean. I did try for the Chase Freedom back in November but they told me I did not have accounts open long enough to establish a credit history and I was denied. My Citi and Discover cards were opened in October of last year, while my PRG was opened last November. Credit Seasme also has me at 715. (Fako). 

 

I am a student with about 12,000 income and I have a total of 4 cards all listed in my signature. I want to go for a travel card or a different type of card, but I think It would be doubtful that I would be approved due to my income. I still live at home and all that, but I pay for my tuition, books, gas, phone, and other things that I can pay for, but I am just trying to gauage my chances and see where I would stand. I am also planning to close my PRG before the annual fee hits in November (basically I applied for it becuase I wanted to get my foot in the door with them.) 

 

So that leaves me the key question, what should I do? Should I apply, wait, or just take my chances and see what happens?

 

Thank you again,

 

-Snowman

Bank of America: Cash Rewards.-1,000. 4/25/12 (CLI Increase 6/15/13), Citi: Forward- 3k. 10/27/12 (CLI on 2/8/14, SP). Discover: More- 2k. 10/27/12 (Increase 6/1/14). Amex: PRG- NPSL (closed 12/13/13). 11/24/12. Chase: Freedom. 5/1/13- 2.4k. Southwest Rapid Rewards Plus.-3.6k. 6/15/13. Amex BCE-2k. 12/7/13. Amex SPG-4k.12/8/13. Last App: 1/8/14.
Mega Contributor
LS2982
Posts: 15,434
Registered: ‎04-09-2011
0

Re: Advice, what should I do?

I would wait until November when your recent new accounts are a year old and for it.

At least with AMEX its a SP If denied so I would go for that first on the spree.



Silver Spade Garden Club Member - Last App 12/16/13 - Looking for a clean slate NO INQ's / Diamond Inspired!
Starting Score:
EX (PLUS) 583 EQ FICO 565 TU FICO 590 3/15/2011 / Goal Scores: 720
Current Score: EX FICO (PSECU) 671 (myFICO) N/A / EQ FICO 679 / TU08 FICO 678 / TU VS 706 3/6/2014
Frequent Contributor
bluesnowman
Posts: 464
Registered: ‎10-29-2012
0

Re: Advice, what should I do?

Ls- Id rather just get all my Apping done in the next few months or so and then garden...lol. I did hear the rule of thumb is to wait for six months and then apply again. do you think my chances are good if I apply or is it looking kind of doubtful?
Bank of America: Cash Rewards.-1,000. 4/25/12 (CLI Increase 6/15/13), Citi: Forward- 3k. 10/27/12 (CLI on 2/8/14, SP). Discover: More- 2k. 10/27/12 (Increase 6/1/14). Amex: PRG- NPSL (closed 12/13/13). 11/24/12. Chase: Freedom. 5/1/13- 2.4k. Southwest Rapid Rewards Plus.-3.6k. 6/15/13. Amex BCE-2k. 12/7/13. Amex SPG-4k.12/8/13. Last App: 1/8/14.
Valued Contributor
MovingForward_2012
Posts: 3,406
Registered: ‎12-19-2012
0

Re: Advice, what should I do?

The thing is your revolvers aren't even a year old yet. That is going to hurt you. I agree that you should garden for at least another 6 months if not more. My oldest revolver is almost 4 years old and Chase was barking over my short history. I still got approved but with only 10 months of history, you're going to be a hard sell. Good luck whichever route you decide to take.
Cards: Orchard Bank ($1100) | Cap1 Cash Rewards ($2500) | Chase Freedom ($1000) | Best Buy ($2500) | Discover It ($1000) | Barclay Rewards ($2500) | Current scores: EX FAKO: 684, CK TU: 649, FICO EQ: 680, FICO TU: 698, FICO EX: 658 Happy Homeowner Since 2/6/13! :smileyhappy: Last App: 4/5/13 Gardening until July 2014
Valued Contributor
Rhaeny
Posts: 1,507
Registered: ‎07-24-2011
0

Re: Advice, what should I do?


bluesnowman wrote:
Ls- Id rather just get all my Apping done in the next few months or so and then garden...lol. I did hear the rule of thumb is to wait for six months and then apply again. do you think my chances are good if I apply or is it looking kind of doubtful?

Yea we know what want, but do you want the best advice or only what you want to hear?  You asked for advice and LS told you...LOL!!

 

The best thing you can do is wait to increase your odds of getting exactly what you want.  We all understand that app temptation, but let it alone for now and just wait.  

 

Trust me, I've been there staring at the submit button for what seemed like eternity contemplating the anticipation of an approval.  But its best to keep in mind your ultimate goal and you have defined it, right?  So hold on and sit tight.

 

 


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
Frequent Contributor
bluesnowman
Posts: 464
Registered: ‎10-29-2012
0

Re: Advice, what should I do?

MovingForward-I want to keep myself in the garden, but I would rather want to know and not agonize of going through with it or not. Did you have any baddies or anything like that, that affected your chances of becoming approved for a Chase card? I think you are right it is best to wait, I think maybe until June. 

 

Rhaeny-LOL! It is a tempation because everytime I come back to the forums I see people getting approved for all these cards, and I think to myself I should go for it too, but then again I'd rather keep it clean and apply when it's right, but it really is tempting instead of waiting it out. I do have it defined, but I'd rather not agaonize and to me it is best to know now, rather then not go through with it at all. If it increases of my chances of getting approved in June, then I'm all for waiting it out, but I'd rather not get denied even though everything is clean and I have not opened any accounts in the last 6 months or so. I can be rather impatient..lol....but if it helps me get to my goal cards then I'll gladly wait it out, but if my chances are the same now, then I'd rather apply now and stop the itch..lol. 

Bank of America: Cash Rewards.-1,000. 4/25/12 (CLI Increase 6/15/13), Citi: Forward- 3k. 10/27/12 (CLI on 2/8/14, SP). Discover: More- 2k. 10/27/12 (Increase 6/1/14). Amex: PRG- NPSL (closed 12/13/13). 11/24/12. Chase: Freedom. 5/1/13- 2.4k. Southwest Rapid Rewards Plus.-3.6k. 6/15/13. Amex BCE-2k. 12/7/13. Amex SPG-4k.12/8/13. Last App: 1/8/14.
Mega Contributor
LS2982
Posts: 15,434
Registered: ‎04-09-2011
0

Re: Advice, what should I do?

Take it from someone who has multiple INQs for the same card......patience is key!!!

Good luck!!!



Silver Spade Garden Club Member - Last App 12/16/13 - Looking for a clean slate NO INQ's / Diamond Inspired!
Starting Score:
EX (PLUS) 583 EQ FICO 565 TU FICO 590 3/15/2011 / Goal Scores: 720
Current Score: EX FICO (PSECU) 671 (myFICO) N/A / EQ FICO 679 / TU08 FICO 678 / TU VS 706 3/6/2014
Frequent Contributor
b_seeker
Posts: 390
Registered: ‎03-24-2013
0

Re: Advice, what should I do?

Are you an AU on a parent's card? What is your oldest reporting tradeline? The 11 month card? Anything that ups your AAoA above a year?



|| Barclaycard Rewards Visa $5500 || AMEX BCE $2000 || Discover IT $3000 || Amazon Rewards Visa $1800 ||
|| Chase Freedom $2700 || CSP $5000 || Chase Marriott Premier $7500 || Sallie Mae MC $3800 ||

FICO Scores: EX 752 (3/13/13) || EQ 782 (10/4/13) || TU 724 (1/18/13)

In the garden as of 10/12/2013
Moderator Emeritus
webhopper
Posts: 7,230
Registered: ‎09-16-2011
0

Re: Advice, what should I do?

I think you should wait until June. That's my opinion...

Starting Score: 08/29/2011 TU 671 EQ 674
Current Score: TU 754 EQ 694 EX 697
Wallet: NFCU Visa Sig 25k, Amex Lowes 22k, NavCheck 15k, Amex PRG, Amex Zync, Discover It 13.5k, Amazon Visa 5k
Platinum Spade Garden Club Member: App Free since 1/1/13. No more apps til who knows when?
MyFICO Fitness Goal: 800s Club!



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Established Contributor
Pilotdude
Posts: 955
Registered: ‎02-02-2013
0

Re: Advice, what should I do?

[ Edited ]
I am +1 with LS
Your AAoA is going to be hard for a lender like Chase or Amex just yet.
I should also wait and not apply for anything else. In November start with Chase because they are inq sensitive then turn back for Amex.
Amex will be SP if denied but HP if approved. They are tight about their revolvers.
You are definitely on the right track but AAoA and income are going to make it harder.

Good luck

NFCU #1 Fan!! NO MOAR APPS TIL 10/13 Minimum!!
TU -746, EX - 721, EQ -745
Cards:NFCU Flag Visa Sig $10000, CSP $8500, AMEX BCP $2000 Freedom $3500, Disc IT $5000, Cap 1 Green $2100, Credit 1 CLOSED! AU on Amex Green, Discover $2000, Cap One Plat $1000

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