Amex BCE or Sallie Mae with limited history?

[Anonymous]

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@Anonymous wrote:

The Capital One Journey card was my first card when I started rebuilding earlier this year. I started out with $300 and was raised to $3300 just a couple of months ago. I do have "better" cards now but I love that I get %1.25 cash back and no annual fee and still use this card for daily purchases. Well not as much right now because I'm trying to meet my spend requirements for my SW RR Visa to get my "free" flight but after that, it will be right back to the Journey unless I can get a card with better cash back. 

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If you just got that SWA card, Secure message them and ask for 50K offer...two "free" flights

[Anonymous]

I got approved for American Express Blue as my first credit card the day I turned 18. I was an AU with my mom from 16-18 which I'm sure helped. But with you having a Discover card I'm sure you have a shot. It's my oldest account and most used. I'd say go for it.

[Anonymous]

I was approved for both cards with only a year of history. I'd say to go for it. Perhaps Sallie Mae is more lenient on student applicants.
However, If I was in your foot steps, and had to choose one, I'd go with AMEX. The backdating for '14 will help you out in the longrun, and they're more willing to give higher CLs.

[mikelo22]

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@Anonymous wrote:

I believe 4 of the 5 are on EX... any idea how long I should wait before apping for the BCE? don't wanna do it too early and get another HP for nothing but I definitely wanna get a new card asap

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I'd wait on the BCE then since most of your INQ's are on EX. While they stay on your report for two years, their effect is minimalized after just 1 year. Barclays (which underwrites the Sallie Mae) pulls TU in most cases I've seen. So I'd actually app for them over the BCE.

A college friend of mine, who also only had a Discover It, recently got approved for a Sallie Mae with just 4 months history and he had a lower score than you. YMMV, but it's worth a shot, IMO.

[Anonymous]

I actually got it when they were offering the the 50K bonus....hoping to have companion pass for 2015 and 2016. ;-)

[kimmiller112]

Because of where your inquiries are, I would suggest Sallie Mae since they pull TU but I'd wait until the Discover has reported for 6 months.  Then, I'd wait until your inquiries are a year old, then go for the Amex.  Good luck!

And, please correct me if I'm wrong someone, but I thought the Sallie Mae card was originaly targeted for college students and those just out of college as one of the options you have for the cash back is to apply it to your student loans.

[Anonymous]

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@kimmiller112 wrote:

Because of where your inquiries are, I would suggest Sallie Mae since they pull TU but I'd wait until the Discover has reported for 6 months.  Then, I'd wait until your inquiries are a year old, then go for the Amex.  Good luck!

And, please correct me if I'm wrong someone, but I thought the Sallie Mae card was originaly targeted for college students and those just out of college as one of the options you have for the cash back is to apply it to your student loans.

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Technically.

[Anonymous]

Speaking from personal experience. 

I'm a 19yo college student who got my first CC in Apr 2014, Discover It for students $500. I didn't rack up any more inquiries until Sept when I applied for Macy's which was approved. Looking at my credit report from October, I have a total of 11 inquiries across the board (including double pulls from T-Mobile & my credit union) & 5  of the 11 in EX. In November, I requested a CLI for Discover which resulted in a HP but was approved & doubled my limit to $1,000. Two weeks after that in November, I applied for Amex BCE & was approved instantly for $3,500. Mind you I only had 7 months of credit history (10 months if you include student loans which are deferred) & I only put my annual income as $15,000. 

So you might have a shot for the Amex, I'm not sure about the SM though being that I have no experience with them. I'll also add that I recieved my TU FICO score  from Disover on my third statement in July. I hope this helps your decision 

[Anonymous]

The answer depends on what you value more. 

Obviously, the rewards offered by the Sallie Mae MasterCard considerably outweigh the rewards offered by the BCE in most cases.

On the other hand, if there are some other credit cards that you want to get from Amex down the line, it would help to get the BCE early A) because the prior financial relationship would help your odds B) the ever-valuable AMEX backdating.

[MarineVietVet]

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@Anonymous wrote:

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@kimmiller112 wrote:

Because of where your inquiries are, I would suggest Sallie Mae since they pull TU but I'd wait until the Discover has reported for 6 months.  Then, I'd wait until your inquiries are a year old, then go for the Amex.  Good luck!

And, please correct me if I'm wrong someone, but I thought the Sallie Mae card was originaly targeted for college students and those just out of college as one of the options you have for the cash back is to apply it to your student loans.

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Technically.

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Please don't start down that road again.