Reply
Mega Contributor
LS2982
Posts: 15,434
Registered: ‎04-09-2011

Re: New to Credit, what should I get next?

I would go for the AMEX.



Silver Spade Garden Club Member - Last App 12/16/13 - Looking for a clean slate NO INQ's / Diamond Inspired!
Starting Score:
EX (PLUS) 583 EQ FICO 565 TU FICO 590 3/15/2011 / Goal Scores: 720
Current Score: EX FICO (PSECU) 671 (myFICO) N/A / EQ FICO 679 / TU08 FICO 678 / TU VS 706 3/6/2014
New Contributor
mrwheezy117
Posts: 63
Registered: ‎07-26-2012

Re: New to Credit, what should I get next?

Thanks for the advice guys! I might just go apply for the Chase Freedom later on but I'm a little worried about the AMEX.

 

Do you think it will be hard for me to get the AMEX Blue Cash Everyday despite my clean record?

Valued Contributor
jsucool76
Posts: 2,769
Registered: ‎12-11-2011

Re: New to Credit, what should I get next?


mrwheezy117 wrote:

Thanks for the advice guys! I might just go apply for the Chase Freedom later on but I'm a little worried about the AMEX.

 

Do you think it will be hard for me to get the AMEX Blue Cash Everyday despite my clean record?


Their revolving cards tend to be harder to get than their charge cards because charge cards carry less risk (you are required to PIF every month), that's why many people apply for the zync to get their foor in the door with amex (since it is one of the easier cards to get) and then they later apply for a revolver. Once you are an amex member, if you apply for one of their cards and get denied, it is only a soft pull on your credit report, as opposed to a hard pull that any other lender would do. (hard pull is done if you are approved though) 

Wallet: Capital One Cash Rewards 3500CL, Wells Fargo Cash Back College Visa: 900CL, Paypal Smart Connect: 1286CL, Walmart Discover: 2000CL, UPromise Mastercard: 1000CL, Chase Slate: 500CL, Discover IT: 1500CL, Citi Forward: 1500CL, Bank Of America Student Travel Rewards: 700CL
Established Contributor
migliogiorni
Posts: 657
Registered: ‎06-27-2012

Re: New to Credit, what should I get next?

I second that.  I would definitely go for the Amex. I've heard of ppl with only 6 months of history getting the zinc.  Once you get the Zinc you can wait a year and try for the BCE.  Your established history with Amex will help you get the revolver.  I've heard Chase likes to see history.  Maybe you should wait another year to app for chase.  Give it time to grow.

BOA: 8.9k
CSP: 5k
Discover: 5k
Citi TY Preferd: 5k
Wally: 5k
JCP: 4.9k
citiForward: 4.7k
ChaseFreedom: 4.5k
DFS: 2k
Established Contributor
migliogiorni
Posts: 657
Registered: ‎06-27-2012

Re: New to Credit, what should I get next?

Additionally, if you are approved for the Zinc now and when you get the BCE in a year you will get it backdated to the date o your zinc card so it won't affect your AAOA.   

BOA: 8.9k
CSP: 5k
Discover: 5k
Citi TY Preferd: 5k
Wally: 5k
JCP: 4.9k
citiForward: 4.7k
ChaseFreedom: 4.5k
DFS: 2k
New Contributor
mrwheezy117
Posts: 63
Registered: ‎07-26-2012

Re: New to Credit, what should I get next?

Thanks guys, I might go for the Zync to get my foot in the door with AMEX. The AF isn't that high either, but the only benefits to this card is that it's an AMEX (so it gives extended warranty/PP/etc) and gets your foot in the door right? No cash back or membership points?

Valued Contributor
trumpet-205
Posts: 1,964
Registered: ‎11-11-2010

Re: New to Credit, what should I get next?

[ Edited ]

ZYNC uses MR Express, which is fairly worthless unless you,

 

* Redeem it for gift cards (not AMEX gift cards) for 1% return (but you can't earn rewards on top of gift card spending).

* Pair it with Green/Gold/Platinum and send the points to airlines frequent flyer program.

 

Overall MR Express is worthless. A straight statement credit is 0.5% cashback.

 

I used to own ZYNC, but I closed it after AMEX repeatedly said my internal risk score was high and refused to approve me a BCE card.

In My Wallet:
Citi Forward (12/2010) | Citi TY Preferred (05/2011) | BofA Travel Rewards (07/2011) | Chase Freedom (11/2011)
GECRB/PayPal (05/2012) | Discover it (07/2012) | US Bank Cash+ (08/2012) | AMEX BCE (09/2012)
Target (10/2012) | Chase Ink Classic (11/2012) | BofA Balance Rewards (04/2013) | FNBO/Overstock (02/2014)
Valued Contributor
creditnocash
Posts: 2,164
Registered: ‎07-23-2012

Re: New to Credit, what should I get next?

Go for chase. I'm a college student as well and got a chase freedom just the other day
Applied over the phone and was approved instantly.
My scores are in my sig.

Not too thread jack but what is so good about Amex? everyone wants an Amex.
Current: EQ 735 Discover 9/5/13 Walmart TU 730 EX FICO 726 Amex Pull(1/1/13)

Starting total revolving credit: $2600 | Current total revolving credit: 31k+

Inquiries (24 Months): EQ 8 TU 5 EX 5 | Most Recent: 09/04/2013
2 Inquiries in The Last 12 Months


2014 Goals:
Lower Utility

Amex Zync(Unicorn)
Chase Freedom$1500
Discover IT$2900
Citi Diamond Preferred$6000
Citizens Mastercard$7000
New Contributor
mrwheezy117
Posts: 63
Registered: ‎07-26-2012

Re: New to Credit, what should I get next?

I applied for the Chase and it said I need to wait. I think I'm going to call them up later to get a recon (technically it's not even denied yet).

 

But I did get denied for the AMEX BCE. I'm hoping they are open to recon, if not I'll try going for the ZYNC card since I am the demographic they are marketing it towards.

 

Thanks guys!

Established Contributor
CruzImperial
Posts: 863
Registered: ‎07-04-2012

Re: New to Credit, what should I get next?


mrwheezy117 wrote:

I applied for the Chase and it said I need to wait. I think I'm going to call them up later to get a recon (technically it's not even denied yet).

 

But I did get denied for the AMEX BCE. I'm hoping they are open to recon, if not I'll try going for the ZYNC card since I am the demographic they are marketing it towards.

 

Thanks guys!


Should have gone for the zync first as it´s easier to get. Def recon the BCE and get in touch with Chase. Good luck !

Fico Scores: . Walmart TU 748 . App free since Aug 2013 .

Cap One Journey 500 | Discover IT 1k | GE Home Design 5.6k | GE HHGREGG 5k | Amex Zync NPSL | Amex BCE 6k | Citi Forward 4.2k | Citi Dividend 3k | GE BrandsMart 1k | GE Lowes 8.5k | Discover Walmart 6k | Barclays Apple 2.5k | BoA CR 800 | CSP 7.2k

myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.

>> About myFICO
FICO Score - The Score that matters
Click to Verify - This site chose VeriSign SSL for secure e-commerce and confidential communications.
Fair Isaac Corporation is a BBB Accredited Financial Service in San Rafael, CA
FOLLOW US Social Media Facebook Twitter Pinterest Google+