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Discover, then Amex?

Regular Contributor

Discover, then Amex?

Hi,

 

I recently got approved for a Discover More card! happy about that!!! My question is: will Amex be able to approve me after they see that i have had the discover card for at least a year? What i mean is that if they see Discover with a nice limit as apose to Cap1 with a low limit, will they consider extending credit to me?

 

Thanks!

Old Navy: AU $600----------------Walmart(store card): $900 & FICO: 680
Sears Mastercard: AU $300-----TU: FICO 652 April/2012
Emblemcard: $325------------------EQ: FICO 668 April/2012
Discover: $1,000-FICO 695 4/25/12---------Bringing home Amex in 2013!
Cap1: $750 Gardening mode until April 2013
Cap1: $500



Message 1 of 7
6 REPLIES
Regular Contributor

Re: Discover, then Amex?

 You ask, I speculate as follows:

 

AmEx doesn't care whether your credit limit is X or Y with lender W or Z. They care about delinquencies and derogs. If you have few to zero delinq/derogs, you've got a shot; otherwise, not so much.


Starting Score: 653 (11/1/2011 TransUnion)
Current Score: 719 (5/3/2012 TransUnion) 572 (3/21/2012 Equifax) 762 (4/14/12 VantageScore)
Goal Score: 700


Take the FICO Fitness Challenge
Message 2 of 7
Valued Contributor

Re: Discover, then Amex?

A clean report with low UT and a year or two of credit history with a couple cards should be an easy approval.

Message 3 of 7
Established Contributor

Re: Discover, then Amex?

I got discover and Amex on the same day.
Experian® 808/Equifax® ?/TransUnion® 810
Baddies Experian® clean/Equifax® 1/TransUnion® Clean
Last CLI 6-13-2013
Total Credit $121,190.00
Goal 780!
Message 4 of 7
Established Contributor

Re: Discover, then Amex?

I got approved for both within a 24 hour period, instant approvals online - although the AmEx was a charge card and not a revolver.  (I just wanted to get in with them for the sake of backdating when I'm ready for a revolver card with them.)

 

I also got approved for both of those before any "nice limit" cards were showing on my CR... All that was showing were my rebuilders (Orchard - 200, BofA - 800, HSBC - 950) and my new VS card with a $500 limit.

 

I'd say if you're already apping places and picking up inquiries, you may as well try for whatever your heart desires.  The worst that happens is they say no.  The effect of the inquiries will all age off around the same time next year and you can do it again if you don't get what you want this time!

Start 2/2008: TU 495 || EX 539 || EQ 528
Now 5/2013: TU 716 || EX ??? || EQ 702

Slate: $5000 Simplicity: $5000 David's Bridal: $3500 SW Chase: $3000 FNBO: $3000 Barclay NFL: $2500 BofA: $2400 Discover IT: $1700 Walmart: $1500 Victoria's Secret: $1000 Cap1: $750 Amex Zync: NPSL
(2 derogs to go until I'm squeaky clean in 2014!)
Message 5 of 7
Established Contributor

Re: Discover, then Amex?

Once approved for Amex, they often do numberous soft pulls to see how you are paying your other accounts. Just fyi.

Starting scores 01/02/2012 EQ 707(Fico) TU 733(Fico)XP 735 (FAKO)
Updated scores 05/01/17 EQ 824, TU 812 EXP 810 (all Fico scores) Remember the Three P's: Pay early in Full, Pay on Time, Patience
Message 6 of 7
Highlighted
Blogger

Re: Discover, then Amex?

I got Discover and then AMEX within a week of each other.

Follow my financial journey: http://www.frugalrican.com


EQ FICO (01/16/2012): 656 - EQ FICO (02/16/2012): 743 - EQ (02/24/2012): 760 - EX (04/28/2012): 739 - GOAL 2013: 800+

AMEX BCE (0/10K) --- BOA 1-2-3 (0/15.9K) --- Discover More (0/6K) --- Chase Freedom Visa (0/1.4K) -- Hyatt Visa Sign. (0/5.8K) -- Barclay's NFL Card (0/7.5K) -- Chase Sapphire Preferred (0/5K)

Message 7 of 7