04-01-2013 01:11 AM - edited 04-01-2013 01:13 AM
I got triple pulled when I applied for the PRG, but when I got approved I immediately applied for the Skymiles to get a revolver with them. Borderline approval, but approval nonetheless. Reason why I aimed for the Skymiles, was one as you said it's the easiest to get approved for, but two also because I could PC it to a BCE in the future. I've read about someone getting to PC after one month of usage, some did it in six. In a nutshell, it was a gateway to the BCE for me, one of my main goal cards like yours. I'm not telling you go to app-happy, or not to be concerned about the triple pulls. It's just my perception, that you will be approved, and maybe it'll be just on one bureau if you do decide to apply and not a triple pull. Who knows? You're going to use an INQ anyway when you get approved for the BCE, so why not get it out the way now? At the end of the day though, it's your choice, and your rate it'll work out good for you regardless.
Maybe I missed it, but how long have you had the charge card for?
04-01-2013 03:56 AM
many people here have given you great advice and i do strongly recommend you follow what they suggested.
As for Amex, since you are already have PRG, it is a soft pull if denied. So go ahead and app whenever your history turns 1 year old. It might be a borderline approval for the BCE (or a straight up denial), but if you are applying for the Delta instead, you should have a fair to decent chance.
As for Chase, I strongly recommend you do NOT apply with them for now. Wait until your AAoA is at least 1.5-2years old. If you don't feel like waiting, open a checking account with chase, and put in a deposit that is at >5000 dollars to increase your chances. The reason why I am saying so is even th ough Chase is most likely going to approve you (either instantly or via recon), but they will give you a toy limit most likely. There is little to no use for a 500-750 limit credit card. Chase works very differently from Amex and other lenders. Customer initiated CLI are HP, no exceptions. You have better chances winning at roulette in Las Vegas than getting an automated CLI from Chase. Even if you do decide to take the inquiry hit, there is absolutely no guarantee that they will raise your CL even by a dollar either, and they're also not as generous as Amex when it comes to CLI. Chase has a hard maximum CL limit for each customer, which is dependent upon income, credit history and score. Your income is a big liability that isn't going to be in your favor either.
In summary, go with the Amex. You can keep trying until you get approved anyways, and after you get approved, you can apply for other Amex. It's a SP anyways if you're ever denied and you can literally keep applying once a month. As for Chase, you want to look as pretty as possible when you apply.
04-01-2013 05:11 AM
04-01-2013 08:05 AM
By the Blood of Jesus, glad to see you made it out MovingForward. What a fitting username. At OP, the last two guys said what said except with a lot more finesse. We see really no risk in going for an AMEX, earlier you start with those guys, quicker it'll get to age, plus it'll get the backdating.
04-01-2013 09:26 AM
Warjar- Initally, I should have also applied for the skymiles card, I was afraid to be honest about applying for another Amex since I had already gotten approved for one and I was afraid I would be denied for the other. I'm not app-happy either, I try to limit my cards that I benefit from or that I use because it is something I wanted to get. Yeah I hear you, so you say wait until the 25th of this month and then try for the BCE, and If I do not get approved, then go for the Gold Delta? I have had my PRG since November 24, 2012.
Enharu- Ahh I see it is a softpull if I am denied. My history turns 1 year old on April 25th of this year (2 of my statements cut on those dates, so I'll leave a small balance just to be on the safe side...like 20$, I always PIF before the statement cuts.) I really do want the BCE (not really the Delta, If I get denied for the BCE then I'll apply for the Delta, use it, and either PC it or try again later and then close the Delta...). But I do realize I have an easier chance of approval for the Delta rather then the BCE . So for Chase, would it be a better time to apply say in November-December, or is that still going to be to early. I'm still in school so I don't make a lot of money right now but I do realize it is a liability, but this is why I leave very small balances and or just PIF every month. And yes I have heard that Chase is not as genereous as Amex either, and to be honest as well, I am perfectly with a low limit card and I am hoping over time It will grow. They will get less of my business of course, but that is fine as long as I am approved for their card and build a history with them. On my denial letter they stated that I did not have credit accounts open long enough to establish a credit history (meaning they saw only my BOFA account at the time and they had not seen my Citi or Discover cards yet because they had not begun to report yet.) And yes for Chase, I'll do my best to look as pretty as possible..lol.
Movingforward- Wow, I am sorry to hear that your mom passed away, and what is more incredible that you had a rep understand that as well. I know the feeling (in a different sense, my grandpa passed away about 2 years ago in June, and I miss him very much.) And all that you had to go through to get to where you are now. Thank you, and yeah, denials do so stop one from keeping on applying. Hopefully my inquires wont scare them either, and thank you, I appreciate it.
Warjar-I agree, that is why I got very happy when I was approved for them, because I didnt think I would have a shot with my income, but I think my history so far (even though they checked all 3 bureau's) pushed towards an approval. And yes, I do realize that I can the backdating and letting it age. If I do get approved for either card, do I have to call them and have them put a member since date or is that an automatic thing? my PRG has it and I didn't ask for them to put it either so I assume it does.
04-01-2013 09:53 AM
It's automatic. They'll backdate it to 2012, just like that. That will help with your AAoA and help to put you in a better position for the Chase card, when the appropiate time comes for you to apply. Definitely, go for the BCE if you get denied no sweat of your back, go for the Delta Skymiles and PC. Consider the Delta as a gateway card, just like your PRG. Ok, I'm done. Good luck on whatever you decide, and keep us in the loop.
04-01-2013 10:06 AM
Warjar- Ahh okay, that makes since, and yes it will defintiely help me with the AAOA, and hopefully increase my chances of getting approved for a Chase card. How long does it take to PC? meaning I can do it after a month or how long must I wait? And you say to go for the BCE/Skymiles a few days after my history becomes 1 year? Cause I'll leave a small balance on one of my cards and then after it reports, I'll pay it off, and then apply does. Does that sound like a reasonable/good strategy? And of course I will keep you guys in the loop .
04-01-2013 10:42 AM
you don't have to leave a single cent of balance if you don't want to.
Banks can see how much you used and paid each month on your CR, if they want to. Most analysts might just look at your balances (because of the sheer number of paperwork and data they have to go through), but if you point them to that direction, they can look it up easily.
Applying for more Amex cards is your best bet. The backdating makes it even sweeter by increasing your AAoA.
As for Chase, I would just hold it off for now. You can check other lenders in the meantime to see if there's any other offerings you are interested in while you build up a thicker and nicer file for Chase. Or you can try getting Chase Amazon visa, if you shop a lot on Amazon. Chase doesn't really "grow" with anyone. It's way easier to apply for a new card, collect the bonus, and transfer CLs over. Most of of the "growth" with Chase costs a HP and there isn't going to be much change unless something changed drastically (such as income or scores going up by quite a bit from the time you applied, or the account has been in good standing for a few years). Of course, if you don't mind a 500-1000 CL card, then definitely go for it. You have a good chance. Hopefully, they start you out with a higher CL of course.
Best of luck!
04-01-2013 12:02 PM
Enharu- I usually don't leave anything as I pay off my balances right before the statement date cuts, so it is almost always reported with a 0 balance. Ahh they can? I assumed they didn't and they would only know if they asked me. I rarely if ever carry balances on any of my cards (some months have more spending then usual.) I was also interested in the SPG, but I don't think I would be approved for it just yet. And yes the backdating is one of the main reasons why I apped for an Amex. There really are no lenders that I want in with, because I have already have gotten in with most of them anyways (Chase and U.S. Bank are the only ones left.) I do shop quite a bit on Amazon, but that is why I have a Forward card too since I get 5x because the Forward considers Amazon to be a bookstore. But I was considering that as one of the cards I could apply for, plus everytime I shop on Amazon they always offer it during check out but I never have the courage to apply. I don't mind the low CL for now, as I already have 2 cards with generous limits for my income, so a chase card will add icing on the cake..lol. They of course will get less of my business, but that is fine with me for now. And yes, i do hope for a higher limit as well. So what strategy is best for me in terms of when to apply and with my scores as well? I will have the same income (maybe slightly bit higher, but idk yet.)
Thank you, I appreciate it .
04-01-2013 12:11 PM
they are able to check how much you've been owing and paying, if they want to. Some people were denied amex and chase (they posted here and on other forums) because EX returned a reason that most of the balances were only paid down recently. Those people mostly owed quite a bit of balance, and made small payments, and then right before they were applying, they made a huge payment to pay off debt (such as during this time of the year where a lot of ppl get their tax return money back) for it to report low utilization, and to apply. Most of the time card companies, amex included, don't really care. I think it becomes an issue only when someone owes a HIGH balance and make very small payments most of the time.
the SPG is about as hard, if not harder, to get compared to the BCP/BCE.
You want to keep using your Chase card because it does help increase your chances to get other cards with them later on, and also for CLI. Many times people have tried to do CLI for Chase, and got turned down after a HP, because the analyst saw no reason to warrant a CLI when the customer wasn't even using a lot. So no matter what CL they give you, if you intend to pursue other Chase cards in the future, try to use it as much as possible.
Do you fly a lot? The Citi Thank You Premium is a nice card as well.
The US Bank Cash+ is nice too but that card is going to be hard to get for you right now because it's a visa signature with 5k minimum CL.
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