@Anonymous wrote:Frugal,
I am actually 21 years old. I actually plan on entering into grad school in two years, might take an extra year to pursue other interests, which should put me at about 27 when I finish. I hope I answered your question. I just feel that in some ways that the above might not be the answer you were looking for.
.
****On a side note: I think MyFICO Forum needs a multi-quote feature badly****
In other words, you are at LEAST 2-3+ years removed from a major purchase, like a mortgage.
What I am trying to get at, is that you have TIME on your side, a luxury that a lot of us older folks sometimes can't afford because we're in a transitional era where we want the best interest on a house in 7 months or the lowest APR with the highest CL on a card NOW.
Just give it some time, and you'll get there. You're building. Most of the people on these forums are rebuilding and when it comes to that, sometimes time is of the essence.
Time is truly on your side with this issue.
GBPac12 wrote:
@SenorDragon wrote:+1 to IdiotSavant, do what works for you. I will agree with the others in the post as they have provided sound advice to get in with AmEx and for your credit profile in general, but as it has also been noted in other threads, Amex is a quirky one. My brother, age 20 and in college applied and was approved for the BCE about a month ago. He has a very thin credit file, having a couple of student loans and a 500CL CU credit card that he opened about a year and a half ago on his file. He works part-time and as a student, you can imagine he is not the big-income big-spender type Amex looks for. The things that I think helped in his case were low inq and low util. I had a very similar profile when I got my first Amex (TE), only difference was I had a $800 CLI CapOne for about 6 years but similarly I had no inqs and very low util. These cases may be the exception, but based on what I personally have seen, low inqs and low util counts big. Again though, you can't go wrong following the advice that's already posted, pretty solid IMO.
+1 to IdiotSavant as well. It all depends on an individuals personal preference as to the amount of CC they feel comfortable with, for you it was 1 other might be 10 and some even more.
SenorDragon,
I think the inquiries was one of the major factors taken into consideration at the time of my application request, but then again Amex is a hard nut to crack.
Frugal,
I am actually 21 years old. I actually plan on entering into grad school in two years, might take an extra year to pursue other interests, which should put me at about 27 when I finish. I hope I answered your question. I just feel that in some ways that the above might not be the answer you were looking for.
****On a side note: I think MyFICO Forum needs a multi-quote feature badly****
I am sure it played a role, income probably did as well. They like more established credit histories, as a rule, especially on their revolvers.
Not to speak for Frug, but he probably was just trying to get a perspective on where you are in your life journey, and understand your perspective on credit management. Don't be embarassed to be young. At the same time, don't be in such a hurry. Some good things take time to bulid (like a solid credit history).
GBPac12: do I detect a preference for green and yellow jerseys and triangular foam cheese hats? 
I have taken to using multi colors when I can. I agree 100%!
@FrugalRican wrote:
@Anonymous wrote:Frugal,
I am actually 21 years old. I actually plan on entering into grad school in two years, might take an extra year to pursue other interests, which should put me at about 27 when I finish. I hope I answered your question. I just feel that in some ways that the above might not be the answer you were looking for.
****On a side note: I think MyFICO Forum needs a multi-quote feature badly****
In other words, you are at LEAST 2-3+ years removed from a major purchase, like a mortgage.
What I am trying to get at, is that you have TIME on your side, a luxury that a lot of us older folks sometimes can't afford because we're in a transitional era where we want the best interest on a house in 7 months or the lowest APR with the highest CL on a card NOW.
Just give it some time, and you'll get there. You're building. Most of the people on these forums are rebuilding and when it comes to that, sometimes time is of the essence.
Time is truly on your side with this issue.
Frug, didn't I read on a previous thread that you are in your 30's? 
@crunching_numbers wrote:
@FrugalRican wrote:
@Anonymous wrote:Frugal,
I am actually 21 years old. I actually plan on entering into grad school in two years, might take an extra year to pursue other interests, which should put me at about 27 when I finish. I hope I answered your question. I just feel that in some ways that the above might not be the answer you were looking for.
****On a side note: I think MyFICO Forum needs a multi-quote feature badly****
In other words, you are at LEAST 2-3+ years removed from a major purchase, like a mortgage.
What I am trying to get at, is that you have TIME on your side, a luxury that a lot of us older folks sometimes can't afford because we're in a transitional era where we want the best interest on a house in 7 months or the lowest APR with the highest CL on a card NOW.
Just give it some time, and you'll get there. You're building. Most of the people on these forums are rebuilding and when it comes to that, sometimes time is of the essence.
Time is truly on your side with this issue.
Frug, didn't I read on a previous thread that you are in your 30's?
LOL, 30 is a great number and age too 
.
I will try not to rush things, but I keep thinking that an extra year of credit histroy might come in handy one day, you never know
@crunching_numbers wrote:
GBPac12 wrote:
@SenorDragon wrote:+1 to IdiotSavant, do what works for you. I will agree with the others in the post as they have provided sound advice to get in with AmEx and for your credit profile in general, but as it has also been noted in other threads, Amex is a quirky one. My brother, age 20 and in college applied and was approved for the BCE about a month ago. He has a very thin credit file, having a couple of student loans and a 500CL CU credit card that he opened about a year and a half ago on his file. He works part-time and as a student, you can imagine he is not the big-income big-spender type Amex looks for. The things that I think helped in his case were low inq and low util. I had a very similar profile when I got my first Amex (TE), only difference was I had a $800 CLI CapOne for about 6 years but similarly I had no inqs and very low util. These cases may be the exception, but based on what I personally have seen, low inqs and low util counts big. Again though, you can't go wrong following the advice that's already posted, pretty solid IMO.
+1 to IdiotSavant as well. It all depends on an individuals personal preference as to the amount of CC they feel comfortable with, for you it was 1 other might be 10 and some even more.
SenorDragon,
I think the inquiries was one of the major factors taken into consideration at the time of my application request, but then again Amex is a hard nut to crack.
Frugal,
I am actually 21 years old. I actually plan on entering into grad school in two years, might take an extra year to pursue other interests, which should put me at about 27 when I finish. I hope I answered your question. I just feel that in some ways that the above might not be the answer you were looking for.
****On a side note: I think MyFICO Forum needs a multi-quote feature badly****
I am sure it played a role, income probably did as well. They like more established credit histories, as a rule, especially on their revolvers.
Not to speak for Frug, but he probably was just trying to get a perspective on where you are in your life journey, and understand your perspective on credit management. Don't be embarassed to be young. At the same time, don't be in such a hurry. Some good things take time to bulid (like a solid credit history).
GBPac12: do I detect a preference for green and yellow jerseys and triangular foam cheese hats?
I have taken to using multi colors when I can. I agree 100%!
so colorful...................................
@Anonymous wrote:
@crunching_numbers wrote:
@FrugalRican wrote:
@Anonymous wrote:Frugal,
I am actually 21 years old. I actually plan on entering into grad school in two years, might take an extra year to pursue other interests, which should put me at about 27 when I finish. I hope I answered your question. I just feel that in some ways that the above might not be the answer you were looking for.
****On a side note: I think MyFICO Forum needs a multi-quote feature badly****
In other words, you are at LEAST 2-3+ years removed from a major purchase, like a mortgage.
What I am trying to get at, is that you have TIME on your side, a luxury that a lot of us older folks sometimes can't afford because we're in a transitional era where we want the best interest on a house in 7 months or the lowest APR with the highest CL on a card NOW.
Just give it some time, and you'll get there. You're building. Most of the people on these forums are rebuilding and when it comes to that, sometimes time is of the essence.
Time is truly on your side with this issue.
Frug, didn't I read on a previous thread that you are in your 30's?
LOL, 30 is a great number and age too
I will try not to rush things, but I keep thinking that an extra year of credit histroy might come in handy one day, you never know
Yes, crunching, I am 31, but I feel 50 on really cold days.
If you apply to AMEX and get approved by the end of the year, it still counts as 2012. That backdating would come in MOST handy one day.
I started with my first credit card at 23 and didn't learn a lick about credit until I was 30. You already have one foot in.
That ONE card and a cellphone account gave me the AAOA I needed to gather up the rest of my cards, so you are right, the extra year may come in handy, but the knowledge of what to do with it and how to amass it, comes in even more handier! If not, handiest! Handierest!
@FrugalRican wrote:
@Anonymous wrote:
@crunching_numbers wrote:
@FrugalRican wrote:
@Anonymous wrote:Frugal,
I am actually 21 years old. I actually plan on entering into grad school in two years, might take an extra year to pursue other interests, which should put me at about 27 when I finish. I hope I answered your question. I just feel that in some ways that the above might not be the answer you were looking for.
****On a side note: I think MyFICO Forum needs a multi-quote feature badly****
In other words, you are at LEAST 2-3+ years removed from a major purchase, like a mortgage.
What I am trying to get at, is that you have TIME on your side, a luxury that a lot of us older folks sometimes can't afford because we're in a transitional era where we want the best interest on a house in 7 months or the lowest APR with the highest CL on a card NOW.
Just give it some time, and you'll get there. You're building. Most of the people on these forums are rebuilding and when it comes to that, sometimes time is of the essence.
Time is truly on your side with this issue.
Frug, didn't I read on a previous thread that you are in your 30's?
LOL, 30 is a great number and age too
I will try not to rush things, but I keep thinking that an extra year of credit histroy might come in handy one day, you never know
Yes, crunching, I am 31, but I feel 50 on really cold days.If you apply to AMEX and get approved by the end of the year, it still counts as 2012. That backdating would come in MOST handy one day.
I started with my first credit card at 23 and didn't learn a lick about credit until I was 30. You already have one foot in.
That ONE card and a cellphone account gave me the AAOA I needed to gather up the rest of my cards, so you are right, the extra year may come in handy, but the knowledge of what to do with it and how to amass it, comes in even more handier! If not, handiest! Handierest!
I wish I had the sense to do right when I was 23.......so stupid back then about credit!