Amex Zync and Discover More Student APPROVED! Yay!

[GoldenloveNY]

Hello,

I opened my first secured card 9 months from Captial One ($330). I am my freshman year of college. After nine months of good payment history, I finally decided to "app" for Discover More Student and Amex Zync. Both was approved after talking to a rep verfering some stuff on my application. Amex Zyncs is NPSL and Discover Student card has $1,000 CL. I am so happy! My patience and good money mangement paid off! Thank-you Capital One for getting me started! I am waiting for the cards to come! I can not wait....it's really killing me!

What should I do with the secured card? Wait until it hits a year, closed it, and then apply for alternative Mastercard or Visa to replace it?

So freaking happy! LOL!

[nicholasyud]

What your income ??? What creditbureaus they pulls ?? I want to help my gf get those card.....did you apply both at the same time ??Congrat .....

[OptimasPrime]

Congrats.you are off to a very nice start, Discover and amex are great lenders to establish history with.

[OptimasPrime]

---

@GoldenloveNY wrote:

Hello,

I opened my first secured card 9 months from Captial One ($330). I am my freshman year of college. After nine months of good payment history, I finally decided to "app" for Discover More Student and Amex Zync. Both was approved after talking to a rep verfering some stuff on my application. Amex Zyncs is NPSL and Discover Student card has $1,000 CL. I am so happy! My patience and good money mangement paid off! Thank-you Capital One for getting me started! I am waiting for the cards to come! I can not wait....it's really killing me!

What should I do with the secured card? Wait until it hits a year, closed it, and then apply for alternative Mastercard or Visa to replace it?

So freaking happy! LOL!

---

No hurry on closing it, your file is still thin at this point and your scores would benefit from having 3 tradelines reporting.

I would recommend that you look into citi student forward, which is another good card for students. After you have a third unsecured tradeline I would close cap one without hesitation- it will stay on your reports for 10 years and will count toward AAoA.

[GoldenloveNY]

Nicholayud,

1) 20,000. I am only a student. They did not ask to verfied my income. I included my scholarship in here too.

2) Amex pulled EQ. Tthis one had a three year total credit history. I opened a federal student loan back in 2009, but did not attend college. I returned the money, but it has stayed on my account that I opened it and was in good stardard. They also pulled TU. Both was around 670-690 FICO (last time I checked back in June).

3) I applied for one (Discover) and then applied for Amex the next day.

Hope that helps!

[GoldenloveNY]

---

@OptimasPrime wrote:

---

@GoldenloveNY wrote:

Hello,

I opened my first secured card 9 months from Captial One ($330). I am my freshman year of college. After nine months of good payment history, I finally decided to "app" for Discover More Student and Amex Zync. Both was approved after talking to a rep verfering some stuff on my application. Amex Zyncs is NPSL and Discover Student card has $1,000 CL. I am so happy! My patience and good money mangement paid off! Thank-you Capital One for getting me started! I am waiting for the cards to come! I can not wait....it's really killing me!

What should I do with the secured card? Wait until it hits a year, closed it, and then apply for alternative Mastercard or Visa to replace it?

So freaking happy! LOL!

---

No hurry on closing it, your file is still thin at this point and your scores would benefit from having 3 tradelines reporting.

I would recommend that you look into citi student forward, which is another good card for students. After you have a third unsecured tradeline I would close cap one without hesitation- it will stay on your reports for 10 years and will count toward AAoA.

---

Thanks. I am familar with citi forward, but I didn't applied for it because I thought applying for more than 2 cards at once was a bad idea.But you think I should go ahead and apply for it now?. In Janurary, CO will report for it's 12th time The AF will kick in....

[OptimasPrime]

If you applied right now for citi student forward I'm 95% sure you'd be approved (approval criteria is on par with student more).

However, I would wait until discover and amex start reporting to the three credit bureaus( you can see this by signing up for a free service like credit karma, or a paid service like amex creditsecure- I'd recommend credit karma since it's free). The credit score ck gives you is essentially useless but the information it gives you about your report is valuable. Discover sometimes takes forever to report so it might not show up until November 

The idea behind waiting  would be that citi would see the 1000 discover limit reporting and try to match or exceed that rather than basing the decision off of the 330 secured limit. After you get citi close cap one before the af hits.

[GoldenloveNY]

Thank-you so much OptimasPrime!

[OptimasPrime]

Your welcome, it's always good to see students building a strong credit history.

One last thing that i didnt mention- when you apply for the student forward you will want to optimize your revolving utilization, which will improve your score

All you need to do is let capital one report a zero balance and your discover report a balance of between roughly  $10-99, you will able to see that this is reporting correctly through a credit monitoring service (credit karma,etc). You can still spend more than$100 with discover you would just have to pay down the balance before your statement closing date.

You can let the Zync report a balance (just nothing too high)  or not, as it is a charge card and the balance does not factor into utilization calculations.

I realize that all of this is a bit technical, but by following this advice you are virtually guaranteed to be approved for citi student forward with a good limit.