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Getting AMEX and Chase?

Frequent Contributor

Re: Getting AMEX and Chase?

Honestly I'd wait as well. Once you have had your discover for 6 months you'll have no problems getting approved. Try applying for AMEX Green before Chase. My gf got AMEX Green with 6 months history, then an AMEX Clear. Unbelievable. They have lightened their requirements very much it seems. In 6 months you should be gold, grab a few cards then age for 6 more months then do the same again. Good luck!

 
Message 11 of 17
Contributor

Re: Getting AMEX and Chase?


IOGARCIA wrote:

I'm aiming for amex gold and chase freedom or sapphire.

Welcome to the forums

 

You might sneak into a Green. Your chance at Sapphire all though not impossible is slim to none, min CL on CSP is 5k i think and they also like to see a 5k+ cl card with a year of history before matching. Freedom you could possible recon into one but expect at most a 1.5k match to the discover. You have alot of new cards reporting and your AoA looks like its less then 3 months now. You should let the Discover report then if your determined to apply for a Chase card now instead of waiting for 6 months go for a Freedom expect to recon and when you talk to them and they ask about all the new accounts and they will. Tell them you were looking for a good rewards card and  got a offer from Discover and afterwards a friend told you about how awesome the Freedom is with its 5% categories and you looked into it and decided the Freedom was a much better fit then the Discover for you.

Message 12 of 17
Member

Re: Getting AMEX and Chase?

Thanks for the welcome, I can tell this forum is going to prove quite useful for a long time! Smiley Happy

 

Am I allowed to close the Matrix with the $75 charge they added to it when I applied for it? And I will wait until the Discover It reports, then I'll give Chase Freedom a shot over the phone and hopefully I can get in with Chase too. As for Amex, would it also be wise to have my balances paid off on my other cards ASAP so I can qualify for green or gold before 6 months?

Message 13 of 17
New Contributor

Re: Getting AMEX and Chase?

As someone who is also 22, I would reccomend waiting. There is no hurry to build up credit histry especially at our ages.

 

I started off with a Discover More card in 2010, waited 6 months before I got a Chase +1 student card, then waited until I Discover card was a little over a year old and got approved for the Amex BCE card. Obviously, since then, I PCed to a Chase Freedom (however it still has it's initial CL of $500).

 

Unless you want to struggle to raise your Chase cards CL - I would say wait. They usually match your highest - or at least around there. Discover likes to give CLI very often (I've received 3), so I would wait until you get a CLI from Discover then apply for a Chase card.

 

Now, for AMEX - getting a charge card is much easier than getting a revolver. I don't know how I got approved for the BCE card but I did. My reccomendation for them is to build at least 1 year of credit history and you should be good for a charge card.


Starting Score: 673 EQ(05/20/2014)
Current Score: 707 EQ(06/30/2014)
Goal Score: 730

Current cards: AmEx Everyday ($6,000), Discover It ($5,000), Barclays Sallie Mae ($9,000), AmEx Platinum (NPSL), JP Morgan Ritz Carlton ($27,000)
Message 14 of 17
Member

Re: Getting AMEX and Chase?

So I called Chase yesterday on my lunch break and asked about my app. I got declined because of my short credit history and one of my balances is close to its limit (which I'm working on paying off whole in a month). June marks one year with that card so I will try to reapply again and meanwhile I will garden and pay off my balances in full.

 

Another question: I still live with my parents, can I pay for their mortgage and utlities with my cards? I'd like to take advantage of the cash rewards and the plan is they would pay me the money for those bills, I'd just be paying with my cards to get their benefits. Am I allowed to do this? What about a car payment?

Message 15 of 17
Valued Contributor

Re: Getting AMEX and Chase?


IOGARCIA wrote:

So I called Chase yesterday on my lunch break and asked about my app. I got declined because of my short credit history and one of my balances is close to its limit (which I'm working on paying off whole in a month). June marks one year with that card so I will try to reapply again and meanwhile I will garden and pay off my balances in full.

 

Another question: I still live with my parents, can I pay for their mortgage and utlities with my cards? I'd like to take advantage of the cash rewards and the plan is they would pay me the money for those bills, I'd just be paying with my cards to get their benefits. Am I allowed to do this? What about a car payment?


Re mort


IOGARCIA wrote:

So I called Chase yesterday on my lunch break and asked about my app. I got declined because of my short credit history and one of my balances is close to its limit (which I'm working on paying off whole in a month). June marks one year with that card so I will try to reapply again and meanwhile I will garden and pay off my balances in full.

 

Another question: I still live with my parents, can I pay for their mortgage and utlities with my cards? I'd like to take advantage of the cash rewards and the plan is they would pay me the money for those bills, I'd just be paying with my cards to get their benefits. Am I allowed to do this? What about a car payment?


Re mortgage: as a rule this doesn't make sense.   You can use services like ChargeSmart.com, which allow you to pay your mortgage with a credit card (not Amex though) but charge enough of a fee to negate the rewards on most cards.   Of course, if your parents are willing to pay the fee for you, that's all good!

 

Some utilities do allow credit card payments, others allow it through third party processors for a fee, which depending on the amount, may or may not be worth it.

Chargesmart also does car payments, but at a high fee.

 

If it was that easy, there wouldn't be decent reward programs, as people would have tons of miles from mortgage payments!

Message 16 of 17
Member

Re: Getting AMEX and Chase?

What about it benefiting my credit history and possible future approvals and/or CLIs?
Message 17 of 17