Credit Cards

[EJGPharmMD]

Ok, I know with the current credit scare right now American Express is generally not the best way to go. But for some reason, I guess my youth, I still want one. I know it's crazy, but I do. I want the gold rewards card. Don't really even want to use it, just that my friends are all getting them, so I want one too . SO questions. Actually first, here's my story. I'm 19 with a year and 1 month credit history. I just bought a car at the end of April. I have applied with AMEX like 10 times over the past year, and I have gone throught a million inquiries form buying two cars (one when I turned 18 and one just now). I recently applied to AMEX and I was rejected (of course) but the only reason they gave me was due to my amount of inquiries. It used to have a long list of reasons why, but now just b/c of inquires.

1.) Is that accurate? That the only thing holding me back is my inquiries?

2.) How long should I wait before I apply again? I really don't want to wait 2 whole years before my inquiries fall off :-(

3.) Should  I apply for the green card first? Then in 6 months ask for a upgrade?

4.) Any other suggestions?

[manyquestions]

I would wait 6 months, the inqs will count less then and all your other stuff will be six months older.  Don't get anything between now and then.  The gold and the green are about the same.  They are both pretty easy to get as your friends are finding out.  You have had a lot of activity on your report in the last year.  If you can do nothing for six months, I think you would have a good chance to get what you want.

[wmarat]

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EJGPharmMD wrote:

Ok, I know with the current credit scare right now American Express is generally not the best way to go. But for some reason, I guess my youth, I still want one. I know it's crazy, but I do. I want the gold rewards card. Don't really even want to use it, just that my friends are all getting them, so I want one too . SO questions. Actually first, here's my story. I'm 19 with a year and 1 month credit history. I just bought a car at the end of April. I have applied with AMEX like 10 times over the past year, and I have gone throught a million inquiries form buying two cars (one when I turned 18 and one just now). I recently applied to AMEX and I was rejected (of course) but the only reason they gave me was due to my amount of inquiries. It used to have a long list of reasons why, but now just b/c of inquires.

1.) Is that accurate? That the only thing holding me back is my inquiries?

2.) How long should I wait before I apply again? I really don't want to wait 2 whole years before my inquiries fall off :-(

3.) Should  I apply for the green card first? Then in 6 months ask for a upgrade?

4.) Any other suggestions?Forget about Amex, find nice CU.

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[EJGPharmMD]

Ok, that's encouraging. And yeah. They are getting pre-approvals and all kinds of BS in the mail. It makes me mad. So about the beginning of December I should be fine I hope.