03-30-2013 07:07 PM
03-30-2013 07:48 PM
03-30-2013 08:21 PM
03-30-2013 10:34 PM
Thank you guys for all the responses in this thread so far.
LS- Thank you, I appreciate the advice you have given me in this thread so far
b_seeker- No I am not an AU on my parents card. They both have excellent credit though and they are joint on one card that has a 28k limit, but my dad says it is best to establish credit myself has opposed to being an AU on their cards...they have their reasons i guess...lol. My oldest line is my BOFA card (smallest limit as well.) and I opened that in April of last year. Unfortunately, I cannot think of anything that will bump up my AAOA either..lol.
webhopper- Do you think it will increase my chances if I wait in June. I was orignially planning to apply in the first week of June, but I figured if I have the same chance now that I will in June, I might as well pull the trigger now. But I will definitely keep it in mind.
Pilot- But I did get approved for thir charge cards, so I would think I have a shot at their revolvers as well, which is the reason why I would go for the Delta Gold, because it is the easiest revolver to be approved for. The BCE, I realize, is a pretty hard card to obtain, but I think with my profile, I think I have a reasonable chance now, if I try in June I'd assume I have a better chance of getting approved right? or will it be the same if I go for it now. And yes, I have heard that Chase is pretty inquiry sensitive but I do hope that my 3 inquires on EX and 2 on the other bureau's won't scare them off too much..lol. And yeah I do realize income is going to make it harder, but I'd just being honest and posting my situation as it is right now and if I have a chance at being approved or not.
09Lexie- I agree that it will hurt me. Out of the list of my cards I really want, I really do want the BCE and the Freedom, and then I really don't want any other for a while unless I get denied those two, then I would I apply for the other cards mentioned. And your right, If I do managed to get approved, it probably will be a low CL. My thinking is just If I have the same chance I will in 2 months from now, then why wait. If I get denied in June, I probably would have gotten denied in March/April. That's the only thing, and I other then that I think I have more credit then I need...lol.
Movingforward- I don't have any baddies, my reports are really clean and all the information in first post is as accurate as it can be. The only other reason I was thinking to apply now (other then to find out if it would have been the same chance in June.) is because I have seen cases on the forum here that there have been people getting approved for the Freedom card or a Slate card with 6-12 months of history. I am in no rush, believe me. I just want to see if I would be approved or not, I have read to many stories of people here and on the other boards saying they racked up so many inquires and or ruined their credit early in their lives and it took them many years to make it as good as they have it now. I think it would be best if I heeded your advice, but do you think June would be a reasonable time to apply for the 2 cards I mentioned? cause I really don't want to wait until November..lol. I've been in the garden for four months and my original goal was to go for it in June, I'm not to crazy about going another 5 months in the garden...lol.
But all in all I agree. My goal is to have cards that I have always wanted to attain since I first started building my credit and I am 4/6 of the way there. I just wanted to gauge my chances and see where I stand.
03-31-2013 02:06 PM
03-31-2013 05:52 PM - edited 03-31-2013 05:56 PM
Movingforward- My oldest cards is going to be a year old on the 25th of next month. And I know the feeling of a denial...I don't like the feeling either. I just wanted to see if there is any difference if I apply now or then. And yeah, I can imagine how the BK is still hurting your reports but you should be good once it is gone. I do seem convinced of your advice and I have decided that I'm going to wait it out until the 25th or should I wait until the first week of June? And then apply. Do you think my chances will be good if I wait until then? And you have done really well since the BK, so congrats to you on your new home and car!
03-31-2013 06:23 PM
03-31-2013 09:09 PM
@bluesnowman - I got approved for the Delta Skymiles with 7 month credit history, I believe you're in slightly better position than I am as well. I would wait until the 25th of next month and app for the Delta Skymiles. I believe you could obtain it, but they might "triple pull" you like they did me. I hate INQs, but I'm not afraid of them because I'm not planning on getting a mortgage and/or car loan. I live in NYC, with parents while attending school. I know they won't affect me after a yr, and 2yrs time they'll be gone. Maybe then I'll be ready for a car loan or mortgage or something, but right now I'm chillin".
As for the Chase Freedom, I'd leave them alone for right now. They might approve you but with a low limit, like 500 bucks which is infuriating, well at least to me it is. My Strategy advice for you: Get Amex Delta Skymiles, 3x CLI it on the 61st day (from activation), and then 6 months from the last CLI do another 3x CLI. Then apply for the Chase Freedom, they'd see your high limit AMEX and would more than likely give a higher starting limit, it's not guaranteed but it would definitely help your chances there and elsewhere. I'm gardening myself right now after getting a plethora of INQs within 7 months time, lol. I got alot of denials, but I chose to learn the hard way, it's all good though.
03-31-2013 10:44 PM
Movingforward- I do hope I will never have to be in a position where I will have to declare bankruptcy. I have friends whose parents have and it has taken them a long time to reestablish themselves in order to get a mortgage or take out loans, so congrats on your journey, and yes the folks on that forum are rather optimistic..lol. If it increases my chances of getting approved then I am more then happy to wait!
Warjar- I was also triple-pulled when I applied for the PRG back in November (I was not expecting it, but when I found out, I was wondering why they did so, but nevertheless I am happy to be an Amex member.) I do care about the number of inquiries I do get like you and I do my best to plan, but I do my best to apply for cards I want, not cards that I have no need or use for. I also live with my parents, as well as going to school too. And same here, once I am out of school, that will be the next time I will apply after getting any cards in the upcoming few months or so. However, I really do not want the Skymiles card, I really want the BCE. The Delta Skymiles would be my backup card if I didn't get approved for the BCE, and it is the easiest of the Amex revolvers to be approved for. And I'm fine with a small limit, I just care that I am able to be approved for it, I have cards with nicer limits for my income (Citi and Discover, 1,500 is honestly too genereous, my max on both cards that I've charged is like 800-900 on them.) so I would be glad with whatever Chase gives me as a limit, and I'll let it grow. And would Amex really give me a higher limit with my income? and yeah it does look like some of us do learn the hard way....lol. I just really want those two cards and my credit goals are pretty much complete for the next couple of years.