Odds at a Merrill+ approval...

[acb5456]

Happy Sunday everyone! As the title says, I am wondering what my odds are of getting approved for the Merrill+ card, or at least your opinions Here's the rundown:

Scores: between 721-749 (I haven't checked these in a while but they should be fairly accurate)

My current cards are Amex BCE $1,000 (May '13), Discover IT $5,000 (May '13), BofA Cash Rewards WMC $5,000 (June '13) and my CSP $7,000 (September '13) 

Student loans since '08, so my AAOA is about 2.5 years, oldest account almost 6. youngest is CSP.

5% utilization on my BofA cards, so if I apply for Merrill+ they see this and like the usage? Hopefully a useful strategy haha

Income is $39,000

Inquiries in the last 12 months: 5-10 I believe? (not a concrete answer, but an educated guess)

No baddies on my reports, 100% payment history and always pay my cards in full each month. 

Let me know what you guys think! I hope I have a shot

[acb5456]

Oh, and let me add! My income is now up from $36,000 recently and my tax documents won't support this right now obviously, so should I apply and use my older income of $36,000 or my new income of $39,000? If they need verification I suppose I should use the lesser income so everything is in check? Thanks guys!!

[09Lexie]

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@acb5456 wrote:

Happy Sunday everyone! As the title says, I am wondering what my odds are of getting approved for the Merrill+ card, or at least your opinions Here's the rundown:

Scores: between 721-749 (I haven't checked these in a while but they should be fairly accurate)

My current cards are Amex BCE $1,000 (May '13), Discover IT $5,000 (May '13), BofA Cash Rewards WMC $5,000 (June '13) and my CSP $7,000 (September '13) 

Student loans since '08, so my AAOA is about 2.5 years, oldest account almost 6. youngest is CSP.

5% utilization on my BofA cards, so if I apply for Merrill+ they see this and like the usage? Hopefully a useful strategy haha

Income is $39,000

Inquiries in the last 12 months: 5-10 I believe? (not a concrete answer, but an educated guess)

No baddies on my reports, 100% payment history and always pay my cards in full each month. 

Let me know what you guys think! I hope I have a shot

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All of your rev cc's are less than a year old...hmmm not sure if they would want at least one cc a year old.  Have you tried to get an increase on your Amex and Discover?

[acb5456]

@Lexie, Well I have tried for an increase on the Amex, but they just do not seem to like me; they keep telling me that my time established with American Express is too short. Oh well. And I honestly like my Discover limit where it is, so I haven't asked for an increase. I would just like to have a good travel card with no annual fee and EMV, the Merrill+ seems to fit the bill for me. But I'm hoping they dont see my revolving credit as being too short, but we'll see. Also, I have an auto loan on my report with almost 2 years of perfect payment history if that helps.

[Creditaddict]

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@acb5456 wrote:

@Anonymous, Well I have tried for an increase on the Amex, but they just do not seem to like me; they keep telling me that my time established with American Express is too short. Oh well. And I honestly like my Discover limit where it is, so I haven't asked for an increase. I would just like to have a good travel card with no annual fee and EMV, the Merrill+ seems to fit the bill for me. But I'm hoping they dont see my revolving credit as being too short, but we'll see. Also, I have an auto loan on my report with almost 2 years of perfect payment history if that helps.

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When was your last CLI with Amex?

[Creditaddict]

Sorry missed your CSP for $7k... APPLY APPLY APPLY, you should be fine... seems based on other approvals, Marriott is way easier then CSP and you have more than the $5k min. on CSP so I say you are golden for Marriott.

[grinlikechelsea]

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@Creditaddict wrote:

Sorry missed your CSP for $7k... APPLY APPLY APPLY, you should be fine... seems based on other approvals, Marriott is way easier then CSP and you have more than the $5k min. on CSP so I say you are golden for Marriott.

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He wants the Merrill+

Your scores look fine and you have healthy limits on your other CC's. As Lexie said, I don't know if the age of your CC's will spook BoA, but I feel like you could get the card. How are your INQs and utilization? 

Edit: Saw your INQs in the original post. If your util is okay, I think you would be fine for the card. You may have to recon it due to the age of your revolving accounts, but I think that wouldn't be difficult for you.

[Creditaddict]

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@grinlikechelsea wrote:

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@Creditaddict wrote:

Sorry missed your CSP for $7k... APPLY APPLY APPLY, you should be fine... seems based on other approvals, Marriott is way easier then CSP and you have more than the $5k min. on CSP so I say you are golden for Marriott.

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He wants the Merrill+

Your scores look fine and you have healthy limits on your other CC's. As Lexie said, I don't know if the age of your CC's will spook BoA, but I feel like you could get the card. How are your INQs and utilization? 

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Epic Fail... Sorry about my reading today!

ummm, I still think you will be okay on a recon if you need to now that you have over 6 months of history with BofA.

[acb5456]

Okay thanks everyone! Well I pulled the trigger and received the 30 day message! At least it wasn't a flat denial right?! Haha I will call tomorrow and find out if a recon will be necessary! Wish me luck!

[Creditaddict]

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@acb5456 wrote:
Okay thanks everyone! Well I pulled the trigger and received the 30 day message! At least it wasn't a flat denial right?! Haha I will call tomorrow and find out if a recon will be necessary! Wish me luck!

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worse case you can move a little CL from your current BofA to get the account opened probably and then work on CLI later.