Hello,
I'm just 1 month away of having 6 months credit history
I have 3 cards at the moment
1) Wells Fargo $300 secured card
2) Walmart $400 store card
3) Capital 1 $500 unsecured card
I'm planning on giving it a shot for AMEX in December, which card should i go for ? Zync was my original plan, but it's gone. Green or Gold ?
I'm paying always on time and PIF. no negative in my report, make 45k a year
I'm also planning to raise my secured card in the next month. How much should i raise the CL ? $3000 or $5000 ?
After how long of raising my CL on the wells fargo secured, would i be able to apply for another card and get a credit card that matches that CL ? and which credit card company is the best one to give it a shot for higher CL ? If i get approved in December for AMEX Charge card, should i stay with AMEX and apply for a revolver at the same time or next year ?
Starting Score: EQ 683 TU 714
pat0812 wrote:Hello,
I'm just 1 month away of having 6 months credit history
I have 3 cards at the moment
1) Wells Fargo $300 secured card
2) Walmart $400 store card
3) Capital 1 $500 unsecured card
I'm planning on giving it a shot for AMEX in December, which card should i go for ? Zync was my original plan, but it's gone. Green or Gold ?
I'm paying always on time and PIF. no negative in my report, make 45k a year
I'm also planning to raise my secured card in the next month. How much should i raise the CL ? $3000 or $5000 ?
After how long of raising my CL on the wells fargo secured, would i be able to apply for another card and get a credit card that matches that CL ? and which credit card company is the best one to give it a shot for higher CL ? If i get approved in December for AMEX Charge card, should i stay with AMEX and apply for a revolver at the same time or next year ?
Seem like you had some good plan there .
- raise your limit to 5000 if you can......then maybe in about 1 year Wells Fargo will convert your card to one of their credit card.......
- Ask for credit limit on Walmart card in the 4th statement.......next month i guess.....
- credit union : best place to get higher limit........
Starting Score: 560i don't mind raising my card to $5000 but i really don't want that money to be in a secured deposit for so long
what would you do ? Can i just raise it to $5000 so it will report to my credit reports and hope to get another card who will match me this amount and then just reduce back my limit or close the account ?
By the way i just joined this week DCU credit union and opened a checking and savings account. How long till i should ask for a credit card (if i raise my secured to 5000 next month) ?
If i join AMEX in December with a charge card and use it pertfectly for 3-4 months will they approve me for a revolver ? will they match me around my highest card ?
Their standards for approval are similiar for all of their charge cards. So pick whatver card you are willing to pay for AF wise.
$5000 secured balance would be a good way to start. It is a good way to store cash as well.
They did not match me. I have very short history as well, but I have a visa signature with a $5k limit. They only gave me a $2k limit on their card.
If you would prefer a revolver from them go for that instead of the charge card.
Wait until your accounts are at least a year old before you go APPing.
maybe 3000 on secured card then after 6 month ask for their credit card.......if they even deny you then you still had change to go for their secured credit card at credit union.....another option would be Secured loan........... for 6 months or a years......at credit union........other than that someone in here would add it up....
If you can do the Secured for $5k right now... I would! Tomorrow!
Should update to Credit Report next month as usual statement report time... hopefully same time that score comes out.
I would do your Amex Gold, My as well try for a Delta, or something at same time, no biggie if declined...
Citi Forward? they seem to be okay with new credit... and having $5k reporting, I think the Citi computer could show you something nice
Discover - Do pre-approval... I have not seen that fail... I got the exception last week for someone who had BK or burned them and got pre-approved and hit apply and it declined for bad history...
do that little app spree and if you get amex charge, and either citi or the discover, then take the money bak out of your wells... you are good to run from there in 6 months for anything further... as other poster... HIT WALMART at your 4 months... but they offer the free TU Fico... WAIT to do the CLI till you get that score from them... that will help! and I might consider calling in and asking for manual underwriter review... it's a SP.
nicholasyud wrote:Amex would want to see 6 months of history so your change to get approved not very high.......since you new....
He will have 6+ months in December, so he should be fine with a charge card. I would not go for a revolver with Amexco after 6 months. I had 6 months history prior to my Zync approval, but they pulled all three cr. So I guess I was bordeline for approval. You can always try a revolver later and if denied it is only a SP. Just my 2 cents.
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