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New to Credit, what should I get next?

Mega Contributor

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

I would go for the AMEX.



EQ FICO 548 3/3/16
Message 11 of 27
New Contributor

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?

Message 12 of 27
Super Contributor

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) 

Message 13 of 27
Established Contributor

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
Message 14 of 27
Established Contributor

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
Message 15 of 27
New Contributor

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?

Message 16 of 27
Valued Contributor

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

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.

Message 17 of 27
Valued Contributor

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: Discover Fico 709 3/15 Walmart Fico 743 4/15

Inquiries (24 Months): EQ 6 TU 1 EX 6 | Most Recent: 4/09/2015
Over 12 Months:9


2015 Goals:
Lower Utility
Earn Cash Back

Amex Zync(Unicorn)
Chase Freedom$1500
Discover IT$7,400
Citi DC $10,000
Citizens Mastercard$7,000
Message 18 of 27
New Contributor

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!

Message 19 of 27
Established Contributor

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 . Garden 8/19 2014 .

Cap One Journey 500 | Discover IT 500 | 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 7.5k | Barclays Apple 2.5k | BoA CR 2.7k | CSP 7.2k | Platinum Prestige 5k | IT Chrome 4k | Slate 2.3k |
Message 20 of 27