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New Contributor
Posts: 55
Registered: ‎02-27-2013
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How to Get the Big names CC ??? Amex, Citi, Chase....

Hi guys,

 

I have recently started to work my way into getting revolving credit.  I went on a app spree about 3weeks ago and was able to get a few major cc, store cards and a gas card.  So far this is what I have:

 

Walamrt Discv - 3k

Sams store cc - 1k

Omaha Mutual - 1k

Exxon/Mobil Gas card - $500

JCPenny store card - $800

2 Cap One cc - $500 ea

Victoria Secret - $700

 

I will be in the Garden till 03/2014

 

I would like to get all of your knowledge on how to get my foot in the door for the big names cc such as American X-press, Chase, Citi etc.... Which cc should I apply for first on each of these institutions and how to work my way up into getting the Elite cc's.    It'll be great if any of you have some kind of diagram that guides you into the cc process starting w/ the basic cc all the way to the highest in a chronological order.  It will be a great tool to have, specially for people like me that are starting in the little leagues in hopes into getting to the major leagues.   


Starting Score:EX-639, TU-632 641-EQ(MyFico)
Current Score:EX-737(PLUS), TU-784(MyFico)750 (Walmrt) 719-EQ(Myfico),
Goal Score: 750-Across


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Super Contributor
Posts: 7,132
Registered: ‎02-27-2013
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Re: How to Get the Big names CC ??? Amex, Citi, Chase....

There's no one way to do it apply process. You apply for whatever cc you want.

The general guide for amex is that most people will tell you to get your foot in with the green card. But if you can't be bothered you can wait till your scores are up and just apply for whatever you want instead of taking detours along the way. It's really up to u.

For now you are making good progress. Just make sure payments are on time, and pay more the minimum amount. Keep your debt under control, and just let everything age.

In a year you will have a lot more options. Just wait and see what offers there are then decide. No need to put the cart before the horse :smileytongue:
JPMorgan Palladium (100k), AmEx Platinum (NPSL), AmEx SPG (46k), AmEx BCP (42k), Chase Sapphire Preferred (47k), Citi Prestige (31k), Citi Thank You Preferred (27k), Citi Executive AAdvantage (25k), JPMorgan Ritz-Carlton (21k), Merrill+ (15k), US Bank Cash+ (22.5k), Wells Fargo (12k), Bloomingdale’s (12.4k), Chase Freedom (5k), Discover IT (5k).
Blogger
Posts: 3,355
Registered: ‎10-19-2012
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Re: How to Get the Big names CC ??? Amex, Citi, Chase....


Wanka77 wrote:

Hi guys,

 

I have recently started to work my way into getting revolving credit.  I went on a app spree about 3weeks ago and was able to get a few major cc, store cards and a gas card.  So far this is what I have:

 

Walamrt Discv - 3k

Sams store cc - 1k

Omaha Mutual - 1k

Exxon/Mobil Gas card - $500

JCPenny store card - $800

2 Cap One cc - $500 ea

Victoria Secret - $700

 

I will be in the Garden till 03/2014

 

I would like to get all of your knowledge on how to get my foot in the door for the big names cc such as American X-press, Chase, Citi etc.... Which cc should I apply for first on each of these institutions and how to work my way up into getting the Elite cc's.    It'll be great if any of you have some kind of diagram that guides you into the cc process starting w/ the basic cc all the way to the highest in a chronological order.  It will be a great tool to have, specially for people like me that are starting in the little leagues in hopes into getting to the major leagues.   


Practically, the only thing you need to know right now is your FICO score. You have a good card portfolio. As long as you maintain these cards and have at least 6 months of credit history and a reasonable annual income you should be able to get your foot in the door with Amex. For Chase, you'd need at least a year. For Citi, probably a year as well.

 

Regular Contributor
Posts: 245
Registered: ‎10-05-2012
0

Re: How to Get the Big names CC ??? Amex, Citi, Chase....

Everybody will say the same.

 

You have enough cards to start building.  Don't rush it.  I made the mistake early last year, before I found this forum and thought I knew what I was doing.  I was dead wrong.

 

I wasted inquiries, got declines, could not get CLI's.  Then I found the forum.

 

Learn what you can and wait your due time.  It does not take but a year of so of responsible credit management and you can really do well.

 

 

About 250k in Credit Lines
Sapphire Preferred 29.9k, Citi MC Diamond Preferred 13.72k, Chase Marriott PR Sig Visa 12k, Chase Priority 5k, Sams Discover 20k, Amex Hilton Surpass 2k, BofA Hawaii 20k
Discover More 16.25k, Chase Southwest Visa 3.5k, Wells Fargo LOC 10k,
B of A Visa 30k, Wells Plat Visa 6.7k RC Willey 5k Discover IT 4k AMEX TE 2k
New Contributor
Posts: 55
Registered: ‎02-27-2013
0

Re: How to Get the Big names CC ??? Amex, Citi, Chase....

Thank you guys for all of your advise.  I'll be in the garden for the next 24 months until all of my inqs disapear.  Then I'll try for the big names and will keep you posted.


Starting Score:EX-639, TU-632 641-EQ(MyFico)
Current Score:EX-737(PLUS), TU-784(MyFico)750 (Walmrt) 719-EQ(Myfico),
Goal Score: 750-Across


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Valued Contributor
Posts: 1,597
Registered: ‎09-15-2012
0

Re: How to Get the Big names CC ??? Amex, Citi, Chase....

Coming from someone who successfully did that this year, it takes time and a commitment to that goal. If you do ANYTHING to jeopardize that goal, you will set yourself back.

I don't think that there's a guide to getting your foot in the door, but generally if you follow the approval threads on here, you can figure out where your profile fits into each lender's mix of cards at that time. Underwriting standards may change, so just pay attention to what is happening when you are ready to come out of the garden. For me, I found another poster who had a nearly IDENTICAL credit and employment profile to mine. We were only a year apart in age, and a few thousand in income, so I pretty much knew that anything he was successful in attaining, I would be as well. He got the BCP at one point, so a month later I applied for the BCP as well. Then from reading these threads, I knew that my profile fit well for the Freedom once I had 6 months of revolving history under my belt, as well as the Citi Forward.

My advice is to not be tempted by all the approval threads, but monitor them from time to time to figure out where you stand. But remember, you need some experience with all these tradelines, so your 12-24 month garden plan is perfect. Good luck on your journey!

In My Wallet: Amex BCP (12/12) $32,000, Chase Freedom (12/12) $16,500, Cap1 Quicksilver (6/12) $14,000, Barclaycard Rewards (5/13) $10,500, Citi Forward (12/12) $9,600

Last App: April 2, 2014
Valued Contributor
Posts: 1,057
Registered: ‎03-22-2012
0

Re: How to Get the Big names CC ??? Amex, Citi, Chase....

The prime banks look at your scores and history before deciding to give you credit. They generally want to see scores above 700 and at least one year of demonstrated good credit behavior managing at least 2 credit cards.

 

They also don't like to see recent credit inquiries and other new credit on your report, so you are in a good spot. Just sit tight, manage what you have for the next year and then apply for 1 credit card from 2 of the following prime banks:

 

AMEX

CitiBank

Chase

Bank of America

Discover

Wells Fargo

 

Wait another year and apply for 2 more cards from the prime banks.



Starting Score: EQ 658 6/18/12
Current Score: EQ 705 4/16/15 - EX 707 3/8/15 - TU 707 3/8/15
Goal Score: EQ 720+
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Moderator
Posts: 27,207
Registered: ‎09-13-2012
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Re: How to Get the Big names CC ??? Amex, Citi, Chase....

@ SnackTrader wrote:
Coming from someone who successfully did that this year, it takes time and a commitment to that goal. If you do ANYTHING to jeopardize that goal, you will set yourself back.

I don't think that there's a guide to getting your foot in the door, but generally if you follow the approval threads on here, you can figure out where your profile fits into each lender's mix of cards at that time. Underwriting standards may change, so just pay attention to what is happening when you are ready to come out of the garden. For me, I found another poster who had a nearly IDENTICAL credit and employment profile to mine. We were only a year apart in age, and a few thousand in income, so I pretty much knew that anything he was successful in attaining, I would be as well. He got the BCP at one point, so a month later I applied for the BCP as well. Then from reading these threads, I knew that my profile fit well for the Freedom once I had 6 months of revolving history under my belt, as well as the Citi Forward.

My advice is to not be tempted by all the approval threads, but monitor them from time to time to figure out where you stand. But remember, you need some experience with all these tradelines, so your 12-24 month garden plan is perfect. Good luck on your journey.

Exactly!
Valued Contributor
Posts: 1,597
Registered: ‎09-15-2012
0

Re: How to Get the Big names CC ??? Amex, Citi, Chase....

The lack of quote capability strikes once again!

Glad you agree, Lexie!

In My Wallet: Amex BCP (12/12) $32,000, Chase Freedom (12/12) $16,500, Cap1 Quicksilver (6/12) $14,000, Barclaycard Rewards (5/13) $10,500, Citi Forward (12/12) $9,600

Last App: April 2, 2014
Frequent Contributor
Posts: 328
Registered: ‎01-26-2012
0

Re: How to Get the Big names CC ??? Amex, Citi, Chase....

Couldnt agree more. It is hard to do as you see that score creep up! How do I know this......I have a sock drawer full of store cards I havent used in months and never will.  Stay strong and you can write your own ticket!!

NFCU Cash Rewards 20,000,NFCU Plat 17,000, NavCheck 15,000, USAA Cash 4,000, USSA Rate Adv 2,000, USAA AMEX 3,500, Freedom 2,000, Capital One 2,000, Barclay's Apple 1,500, Barclay's Ring 1500, Various Store Cards.




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