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New Member
Posts: 1
Registered: ‎06-30-2013
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Possible First Prime card App-o-rama ?

I am need of prime cards soon with enough credit lines to

take advantage work related expenses. Especially cash back

and reward cards.

 

Here is my credit profile at the moment.

 (s)= secured card

us bank(s)  0/300  9 months

usbank (s)  0/300  9 months

BOA visa(s) 0/300  9 months

Discover  140/2000  3 months

Macys joint  0/100  6yr 4 months

MYFICO eq-754 utilz-6% inq- 3 income- 78k

no major debts or car payment.

 

I want to apply in next week for about 6-8 cards with about 15-30k credit lines.

Not sure exactly what cards to apply for but i was thinking

Citi, Chase, Lowes , Walmart,

 

Is it possible to get over 20k in credit lines and any suggestions

to which bank with rewards to apply to?

 

Valued Contributor
Posts: 1,524
Registered: ‎08-17-2008
0

Re: Possible First Prime card App-o-rama ?


haroony wrote:

I am need of prime cards soon with enough credit lines to

take advantage work related expenses. Especially cash back

and reward cards.

 

Here is my credit profile at the moment.

 (s)= secured card

us bank(s)  0/300  9 months

usbank (s)  0/300  9 months

BOA visa(s) 0/300  9 months

Discover  140/2000  3 months

Macys joint  0/100  6yr 4 months

MYFICO eq-754 utilz-6% inq- 3 income- 78k

no major debts or car payment.

 

I want to apply in next week for about 6-8 cards with about 15-30k credit lines.

Not sure exactly what cards to apply for but i was thinking

Citi, Chase, Lowes , Walmart,

 

Is it possible to get over 20k in credit lines and any suggestions

to which bank with rewards to apply to?

 


Seems that you have a very thin file and is new to credit. I would advise you not to apply for 6-8 cards in the next week because you will not get the CL you want. Garden what you have and build your profile proficiently and slowly. Building good credit and file takes time. Garden. Good luck!


$100K in Credit
Last Credit Card App: 11/16/13
Moderator
Posts: 27,206
Registered: ‎09-13-2012
0

Re: Possible First Prime card App-o-rama ?

Welcome to the forum!

I agree with chnceit. Although your income is acceptable, your file and current limits will not get you those CL's. Walmart/Lowes may in a year or so. Chase you are looking at $1500 tops.

You might get lucky with a CU for $5k but your biggest issue is 4 new TLs less than 1 yr old.
New Contributor
Posts: 70
Registered: ‎12-14-2012
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Re: Possible First Prime card App-o-rama ?

I might get flack for this, but I think you might be able to land an Amex BCE.

 

Yeah, it's a thin file, but your score is 750 (amex usually pulls experian, you should get a MyFico Exp score first) and your income is good.

 

 

When I recently got my student loans rehabbed and removed, my score shot up to 767 (it was 666 a week before from Prosper)  and I applied for a BCE.    I had an AU on chase that helped my AAoA, but my only other cards were a 6 month old secured cap one card ($700) and 5 month old Walmart ($400) and Amazon ($1,100) store cards.    My income is 42K.   4 inquiries.  1% utilization.   AND a 5 year old collection for $450.

 

 

They approved me instantly with a CL of $12,500.

 

One week later,  I was feeling courageous, and applied for an Amex Blue Sky.   New Experian pull, now 6 inquiries, and Ex score of  751.

 

approved instantly with a CL of $15,000.

 

 

 

I can only assume they didn't mind the thin file, and based the approval solely on the exp score and income.

 

 

Obviously, YMMV, but I think it's worth a single hard pull.   Just check your Exp score here on MyFico first!

 



Starting Score: 573 (Exp 10/12)
Current Score: 767 (Exp 6/13)
Goal Score: 700+ I Crushed it!!!


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Valued Contributor
Posts: 1,128
Registered: ‎10-15-2011
0

Re: Possible First Prime card App-o-rama ?

I actually agree with Capya.  I would also try Compass Bank, they seem to be generous with credit limits.  I did not have the best score, about 700 at the time, and they gave me $8,000.  It was a preapproval from them though and I think they do actually do preapprovals the right way, by looking at you credit first.  Some companies seem to offer you a preapproval because you have a subscription to the Wall Street Journal or other such silliness.



Rethink every purchase you make, before you make it. Use the card with the best rewards. Pay in full each month. Redeem rewards often. Use the cards online shopping for more discounts. Smile, knowing that being thrifty allows you to actually get more out of the same amount of money!
Valued Contributor
Posts: 2,101
Registered: ‎04-04-2013
0

Re: Possible First Prime card App-o-rama ?


haroony wrote:

I am need of prime cards soon with enough credit lines to

take advantage work related expenses. Especially cash back

and reward cards.

 

Here is my credit profile at the moment.

 (s)= secured card

us bank(s)  0/300  9 months

usbank (s)  0/300  9 months

BOA visa(s) 0/300  9 months

Discover  140/2000  3 months

Macys joint  0/100  6yr 4 months

MYFICO eq-754 utilz-6% inq- 3 income- 78k

no major debts or car payment.

 

I want to apply in next week for about 6-8 cards with about 15-30k credit lines.

Not sure exactly what cards to apply for but i was thinking

Citi, Chase, Lowes , Walmart,

 

Is it possible to get over 20k in credit lines and any suggestions

to which bank with rewards to apply to?

 


I don't think this is such an impossible quest, due to the 6 year Macys account and an Equifax score of 754. Start with the people you've already had dealings with. Discover and US Bank.

 

First call Discover and mention that you heard they have a new policy where it is possible to get a credit increase after only 3 months. Mention your 754 Equfax score, and explain why you need a $10,000 credit limit. You just might get it. They also have a Miles card, if those types of rewards interest you.

 

After that, I would walk into a US Bank office and have a chat about this. Request the Cash+ card, its their best cash back card and if their computer rejects your application you get the Cash Rewards card which gives 1% cash back, and which can be converted to the Cash+ in as early as 6 months. Cash+ has 5% cashback categories that you get to choose every 3 months. Then ask about getting another card with travel rewards.


Frequent Contributor
Posts: 324
Registered: ‎04-12-2013
0

Re: Possible First Prime card App-o-rama ?

I would recommend you apply for BCP. I also got approved yesterday. My oldest account is 8 months old and Aaoa is 3 months. I got approved for 2000. You have a good shot. If you get approved then wait for 61 days and apply for 3x cli on Amex card and let it report on your credit reports. After that you would be golden for most credit card issuers.



PNC Secured 2000 (Dec12), Chase Amazon 2000 (Apr13), CapOne Newcomer 2500 (May13), Citi dividend 3000 (May13), Discover IT 1000 (Jul13), Amex BCP 6000 (Jul13), Chase Southwest 10000 (Jul13), Chase Marriott 12000 (Oct 13), BofA Travel Rewards 5000 (Dec13)

- In garden till Dec 2014
Valued Contributor
Posts: 4,220
Registered: ‎06-05-2013
0

Re: Possible First Prime card App-o-rama ?

[ Edited ]

haroony wrote:

 

I want to apply in next week for about 6-8 cards with about 15-30k credit lines.

 


Number of card and limits seem pretty ambitious to me with your thin file.  I'd suggest focusing and narrowing it down to 1 or 2.

 


haroony wrote:

 

Is it possible to get over 20k in credit lines and any suggestions

to which bank with rewards to apply to?

 


For what categories?  Do AF's matter?  If you want recommendations then give people something to work with.

Moderator
Posts: 27,206
Registered: ‎09-13-2012
0

Re: Possible First Prime card App-o-rama ?

OP, wanted a spree of 6-8 new TLs with CL's of $15-30k, I'm sorry but I can't see that happening even with a 754 EQ. OP should try for an Amex, chances of the CL eventually getting to the figure mentioned are within the realm of possibility - again not on the first approval.

So, if we are then looking at 6-8 new TLs that equal the amount needed- I'd suggest a combination of CLI's and with new apps .

Good luck, that's a lot if new cc's on a thin file.
Frequent Contributor
Posts: 445
Registered: ‎06-04-2013
0

Re: Possible First Prime card App-o-rama ?

You don't need to app for a prime card when you already have a BofA (a prime lender) secured card that's going to be a year old in three months. At one year, call them and see about graduating to an unsecured card.
Chapter 7BK: 06/2009
FICO EQ: 698 (3/5/15)
FICO TU: 675 (Barclays TU 12/25/14)
FICO EX: 667 (as of 5/23/14)
NFCU CashRewards $10k, Barclays US Airways $5k, Chase IHG $2k, DCCU Visa $1.5k.

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