Credit Cards

[russum]

Applied for AmEx Blue (not Cash) and got approved with $3,000 (had to call them to verify some stuff).

I kinda "prepared" for this and PIF most of my CCs and waited for some of the inqueries to disapear.

My question is - should I apply for one more CC now? I really want Chase Freedom/Amazon or Citi Forward/Student Forward but am afraid I won't be approved.

Which would be easier to get with my situation which is:

TU: 714, 2 inquries

EQ: 716, 1 inquiry

EX: 737, 2 inquiries (+1 so 3 now with AmEx).

Utilization: 12%

No negatives.

My CCs: Wells Fargo: $3,000, Discover: $1,300, USBank: $500 and AmEx Green.

Also used to have a $1,300 Bank of America CC but they closed it couple of months ago after 1.5 years for absolutely no reason (well they think they did have a reason but whatever, they suck anyway imo but that's another story).

AAoA: 2.3 years (does not include the new CC yet).

Oldest: 3.9 years.

What are my chances that the CCs I want will pull TU or EQ (so they don't see the most recent AmEx inqury or shouldn't I worry that they see it?).

Anyway, chances I will be approved for any of the CCs I want?

My other two inquires will disapear in October which will also give me 6 months of history with my new AmEx. Should I just wait until then?

I've read here that it's ok to apply 1-2 CCs at at time every 6 months but still unsure...

I am a MS student with low income.

Thank you!

[russum]

Just thought maybe someone will find it usefull or interesting on how BoA closed my CC.

I had the card for almost 2 years, I did not always PIF but most of the time I did. Never was late. And they once did a CLI from $700 to $1300 I think (with my request).

So last fall I was out of US my AmEx Green got a $600 charge at OfficeMax somewhere in Ohio, I disputed the charge and AmEx said not to worry so I didn't.

Couple weeks later I checked back and saw that the charge is still there, I contacted them and asked what is happening and they said OfficeMax provided all the documents and the charge was legit. I was really pissed and argued with them and they asked me to dispute it again, by that time my bill was due which I obviously didn't pay since I didn't make those charges and AmEx even charged me two late fees 30 and 45 days. Finaly a week later they admited it was a mistake and reversed the fees and removed the charge.

Apperantly that time they also reported a one 30 days late to EX on the day 1 it was late (just in case someone didn't know - they do that). Since I was out of US I didn't even bother contacting them about it because - 1st - I read a lot that the first 30 days late doesn't hurt anything so I thought I'd take care of it later and 2nd - I didn't notice it immideately.

So when I came back to US I tried to use my BoA CC couple of times but every time it was declined (again, I didn't worry much since I traveled a lot and that happend quite often so I assumed they just wanted to make sure I am the one who is trying to make the purchases). So after a week I finally called them and asked to unblock the CC. And they said they cannot do that because the card is permantently blocked because my credit report had TOO MANY late payments with other credit cards. I immediately refreshed my report and saw that AmEx already removed that late payment (without my request) so I tried to explain BoA what happened and that I did not have ANY lates and my report IS clean but they wouldn't listen and asked me to pay the $3,95 something APR fee and forget about them...

That's it.

I don't know what I could do to prevent this, may be I should've get my report immideately after the situation with AmEx and argue with them so theyremove it ASAP? Or maybe I should've just pay the charge...

In either way, I'm pissed at BoA and not AmEx... BoA didn't even attempt to contact me to let me know what happened just closed it silently, I found a letter from them few weeks later when I got back home stating the same thing - TOO MANY LATES... I don't think I had any rewards witht that card but it had a quite good APR. Still... They suck imo.

Also, the funny thing about this is at about the same time all this was happening Wells Fargo did a CLI from $2,000 to $3,000 automatically, without my request.

P.S.

I think a month later I recieved an email and a letter from AmEx saying that some company(they wouldn't say which) was hacked or something so a database of CCs was stolen including myne and blah blah blah. At the same time many news stories appeared about Subway network being hacked and their customers' CCs being stolen which is I think how my AmEx Green CC was stolen.

Lot's of writing but since people share here so did I...

[guydiver]

You're better of without BoA IMHO.  Congrats.

[Koop10010]

Congrats on the Blue, I think you'd stand a pretty good chance of approval with Chase or Citi for those cards with your stats.  I'd go ahead and go for one more card now, then wait 6 months, maybe longer, before applying for the other if you still want it.

[FrugalRican]

My one concern with russum applying for the Freedom now is that Chase very well may give him a low CL, lower than what AMEX would give him.

The ultimate problem is that once you've applied for the Freedom and you get that low CL, you better believe you're going to be taking HP's for any potential limit increase.

Overall, his limits are comparably low. With AMEX, he has a chance to grow within 2 months with the 3X CLI. That would make his profile look beefier in 6 months.

If you can take a hit in 6 months, I'd wait on the Freedom.

[Koop10010]

---

FrugalRican wrote:

My one concern with russum applying for the Freedom now is that Chase very well may give him a low CL, lower than what AMEX would give him.

The ultimate problem is that once you've applied for the Freedom and you get that low CL, you better believe you're going to be taking HP's for any potential limit increase.

Overall, his limits are comparably low. With AMEX, he has a chance to grow within 2 months with the 3X CLI. That would make his profile look beefier in 6 months.

If you can take a hit in 6 months, I'd wait on the Freedom.

---

That's a fair point.  Although Chase more than tripled my highest reporting credit limit when I got my Freedom.  I had an Amex charge and two CapOnes reporting $750 limits and Chase gave me a $2500 limit.  Still, they do require hard pulls for limit increases, so waiting should be considered if that's important to you.

[improvingmycredit]

Helo russum!

I think with your stats you are good to go for either cards - Freedom or Forward.  AAoA is a little low so I'd def do it before the new tradeline reports.  Otherwise, garden and apply later.  Chase is a HP for any CLI and Citi is SP (most of the time) for CLI.   You may want to take that into account when applying.  If you choose Chase, your stuck with the same CL and APR until you decide your ready for another HP.  You can request a CLI with citi after 6 mos typically with a SP.  Good luck.  

Edited:  OOOPS!    BIG CONGRATS on the AMEX!  Your gonna love it!

[nick125]

My thoughts mirror what others have said -- either apply before Amex reports or wait. If you wait, you might get a larger CL to start off with. With Chase, you'll more-than-likely get approved (as your file is SIGNIFICANTLY better than mine was when I got approved), but any CLIs will require a hard pull. 

Between Chase Freedom and Chase Amazon Visa, it depends on your spending habits -- if you spend a lot on Amazon, the 3% at Amazon might be useful, otherwise the 5% revolving categories and flexibility to get cashback versus just Amazon credit might be better. Just remember that Chase doesn't usually like it when you app for multiple Chase cards in a short period, so I would just suggest getting one card from them for now. 

[russum]

Wow!

Instant Decision Approved

Congratulations. Your application has been approved. You will receive your card and complete account information within 2 weeks by mail.

Please close this window. If you don't, someone could access your personal information by using the "Back" button on your browser.

Thank you for applying!

Didn't even have to call.

Thank you so much! Didn't think it was possible! I'm really happy! Don't know the CL though...

Oh yeah - it was the Chase Freedom!

[mmduluth]

Call 800-436-7927

It's an automated line and will give you the limti, apr, etc.