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Posts: 5
Registered: ‎01-05-2013
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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

 

 

Valued Contributor
Posts: 3,099
Registered: ‎10-02-2012
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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    


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Posts: 7,225
Registered: ‎09-16-2011
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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


Starting Score: 08/29/2011 TU 671 EQ 674
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Registered: ‎02-09-2012
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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 and $500 secured CC
12/2014: 750+ scores across the board and $80k in revolving credit

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Valued Contributor
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Registered: ‎10-02-2012
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Re: Newbie thinking of applying to a few cards could use some advice

[ Edited ]

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%
Valued Contributor
Posts: 1,524
Registered: ‎08-17-2008
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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.

 

 


$100K in Credit
Last Credit Card App: 11/16/13
New Member
Posts: 5
Registered: ‎01-05-2013
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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.

Moderator Emeritus
Posts: 7,225
Registered: ‎09-16-2011
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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

Starting Score: 08/29/2011 TU 671 EQ 674
Current Score: TU 754 EQ 694 EX 697
Wallet: NFCU Visa Sig 25k, Amex Lowes 22k, NavCheck 15k, Amex PRG, Amex Zync, Discover It 13.5k, Amazon Visa 5k
Platinum Spade Garden Club Member: App Free since 1/1/13. No more apps til who knows when?
MyFICO Fitness Goal: 800s Club!



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Moderator Emeritus
Posts: 7,225
Registered: ‎09-16-2011
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Re: Newbie thinking of applying to a few cards could use some advice

[ Edited ]

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.

Starting Score: 08/29/2011 TU 671 EQ 674
Current Score: TU 754 EQ 694 EX 697
Wallet: NFCU Visa Sig 25k, Amex Lowes 22k, NavCheck 15k, Amex PRG, Amex Zync, Discover It 13.5k, Amazon Visa 5k
Platinum Spade Garden Club Member: App Free since 1/1/13. No more apps til who knows when?
MyFICO Fitness Goal: 800s Club!



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Valued Contributor
Posts: 3,099
Registered: ‎10-02-2012
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Re: Newbie thinking of applying to a few cards could use some advice


Breken 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%
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