Credit Cards

[smoothjk]

These are two cards that I've been drooling for, but I've been holding off until I fix some of my baddies, lower util, and get that pay raise. Anyone have any knowledge or experience with these cards, and how hard was it to get approved?

[fevmlo]

I don't know anything about Chase, but I do have an AmEx Blue. I applied through the AmEx pre-app page (which is still offering me a 'preapproved' Blue to this day, although I already have one) in May and was approved instantly, with a $2000 limit. I already have an AmEx Delta SkyMiles and had just had a CLI to $7400, which might explain the relatively low CL.

AmEx pulls Experian - I couldn't tell you what my exact EX FICO was on that day, but I think it was in the region of 670-680ish. My utilization was pretty low, somewhere under 10%, with only one card reporting a balance. My credit history is very short (one year at the time of applying) and the average age of my accounts even shorter.

I was very pleased with the card when I got it, but can't say I've actually used it that much... it's very pretty and all, but in hindsight I'm not quite sure what to do with it! I'm too busy racking up the SkyMiles with the other card, and would far rather have a cashback card of some sort than either of them. Oh well!

If you go for one or both of them, good luck!

[Creditaddict]

Amex does not like baddies, serious baddies like judgements and bk I think is auto decline always.

chase doesn't like recent baddies (1 year i think)

[FretlessMayhem]

Blue is has a bit more stringent requirements for approval than the SkyMiles cards a lot of people post about.

I would say general guidelines for a cold Blue approval would be a 700-ish EX score, no baddies in the last 2 years, less than 25 percent utilization, and at least a 2 year revolving credit history with other creditors.

Not set in stone by any means, just kinda "guessing" based on what I've seen denials for.

[smoothjk]

Thanks for the responses ... definitely informative.

Looks like I have a better chance at getting approved for the Chase card than the AMEX (my utilization isn't going to be anywhere near 25% for over a year). Recently sent out some GW letters, so hopefully, those will get rid of the baddies.

Then again, maybe I can go for the Chase card first, and if I get approved for a decent limit, that could help speed the util % process along.

Either way, I have to be patient. Thanks again!

[Groundhog1248]

Does anyone know what score you might need to get approved for the 15 month no finance deal they offer?  I read where it says it depends on credit score.  Mine is 798 and I only want the card if I can get the 15 month zero finance.

Thanks

[smoothjk]

At 798, your score is not going to keep you from any deals, if you meet other requirements. That score will only help you, never hinder you.

[haulingthescoreup]

....as long as that is truly a FICO score.

Non-FICO scores ("FAKO's") have different score ranges and different score formulas, so it's important to know what you're looking at.

[FretlessMayhem]

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Groundhog1248 wrote:

Does anyone know what score you might need to get approved for the 15 month no finance deal they offer?  I read where it says it depends on credit score.  Mine is 798 and I only want the card if I can get the 15 month zero finance.

Thanks

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Fantastic score Groundhog! I am envious. I think you are one of the mysterious "well qualified buyers" talked about on the car commercials that get 0 interest and other financing deals that I previously didn't think existed.