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Newbie thinking of applying to a few cards could use some advice

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Anonymous
Not applicable

Newbie thinking of applying to a few cards could use some advice

So I was riding out a BK and it just fell off my credit report leaving me with a FICO (Equifax) of 809.  I currently have one credit card (Household Bank) under my name with a $1000 limit.  I haven't used this card in months and don't have a balance.  My current workhorse credit card is a Bank of America Business card that doesn't show on my credit report, but has massive amounts of activity every month (always being paid off in full)

 

What I want to do is apply for the following cards:

Capital One Venture (hopefully my new workhorse card)

Chase Southwest airlines personal card

Chase Southwest Airlines Business card

(Perhaps also a Hilton or Starwood AMEX)

 

What would be my best stratagy?  Should I be fine getting these cards or do I need to show more credit card activity on my credit report first?  Any thoughts?

 

Thanks in advance!

 

-E

 

 

Message 1 of 15
14 REPLIES 14
Dustink
Valued Contributor

Re: Newbie thinking of applying to a few cards could use some advice

I do not recommend the crap1 card. I think you can find better cards elsewhere. It also is unlikely you would be able to get it.

 

Generally, it is hard to get new cards that require high limits when you only have 1 card reporting with a low limit. 

 

Your best bet is to find other cards that don't require a high starting limit, and build them up.

 

The chase freedom card comes to mind.

 

You might have a shot at the AMEX hhonors if you are interested in it.

 

 

 

 

Too many INQs & low AAoA so I'm off to tend the Garden.     Age:23    


     $17k       $8.5K          Closed          $19k      $6.5k        $24.2k        Closed         $5k       Closed     $8.5k        Closed      @2.49%
Message 2 of 15
webhopper
Moderator Emeritus

Re: Newbie thinking of applying to a few cards could use some advice

I like the Amex charge card as a workhorse card. Is the boa business card in your name as company owner?  If so look at BOA 123

FICO 9:
Filed Chapter 13 on 6/1/2017 after job loss. Discharged 6/1/2022.

Goal: Gardening!


Message 3 of 15
Repo-ed
Senior Contributor

Re: Newbie thinking of applying to a few cards could use some advice


@webhopper wrote:

I like the Amex charge card as a workhorse card. Is the boa business card in your name as company owner?  If so look at BOA 123


Yes!

 

Get in the door with an Amex Gold and then the sky is the limit with Amex once they see you PIF'ing each month.

5/2012: 560 credit scores across the board
12/2014: 750+
3/2017: 780+
11/2019: 833
2/2023: Experian via Chase United Explorer CC pull - 891
Message 4 of 15
Dustink
Valued Contributor

Re: Newbie thinking of applying to a few cards could use some advice

Only get a charge card if you find the annual fee worth it.

Too many INQs & low AAoA so I'm off to tend the Garden.     Age:23    


     $17k       $8.5K          Closed          $19k      $6.5k        $24.2k        Closed         $5k       Closed     $8.5k        Closed      @2.49%
Message 5 of 15
chnceit
Valued Contributor

Re: Newbie thinking of applying to a few cards could use some advice


@Dustink wrote:

Only get a charge card if you find the annual fee worth it.


Very true, but the $0 AF for the first year with AMEX is a great selling point especially with the service you get with it. I think AMEX is worth the AF to build that relationship.

 

 


Last Pulled EQ: 809
Last Credit Card App: 02/05/2016
Last CLI: 02/06/2016
Find Me: Gardening
Message 6 of 15
Anonymous
Not applicable

Re: Newbie thinking of applying to a few cards could use some advice

Thank you all for the advice.  I pulled the trigger on the Southwest card, a Hilton AMEX and the Venture.  

 

Pending review on the Southwest and Hilton Amex.  Instant approval on the Venture with a $10,000 credit line.

 

Worst case that at least gets me started and covers me on an upcoming vacation since it doesn't have foreign transaction fees.

 

Thanks again... after all the help, I'm going to pick myself up an AMEX for sure. It just may take a few days.

Message 7 of 15
webhopper
Moderator Emeritus

Re: Newbie thinking of applying to a few cards could use some advice

Check the status of amex application here https://www262.americanexpress.com/eaol/welcome.do
FICO 9:
Filed Chapter 13 on 6/1/2017 after job loss. Discharged 6/1/2022.

Goal: Gardening!


Message 8 of 15
webhopper
Moderator Emeritus

Re: Newbie thinking of applying to a few cards could use some advice

888-270-2127. Call this number and ask for app status and recon if needed. Recon is where you convince them you need their card.

this number is for Chase.
FICO 9:
Filed Chapter 13 on 6/1/2017 after job loss. Discharged 6/1/2022.

Goal: Gardening!


Message 9 of 15
Dustink
Valued Contributor

Re: Newbie thinking of applying to a few cards could use some advice


@Anonymous wrote:

Thank you all for the advice.  I pulled the trigger on the Southwest card, a Hilton AMEX and the Venture.  

 

Pending review on the Southwest and Hilton Amex.  Instant approval on the Venture with a $10,000 credit line.

 

Worst case that at least gets me started and covers me on an upcoming vacation since it doesn't have foreign transaction fees.

 

Thanks again... after all the help, I'm going to pick myself up an AMEX for sure. It just may take a few days.


 

Did you have other things on your credit report? Like a mortgage? Must have been other things than just 1 credit card with a $1000 limit. I hope the crap1 card works for you. It is not the route I would have gone, but if it is good for you then that is what matters. 

Too many INQs & low AAoA so I'm off to tend the Garden.     Age:23    


     $17k       $8.5K          Closed          $19k      $6.5k        $24.2k        Closed         $5k       Closed     $8.5k        Closed      @2.49%
Message 10 of 15
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