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Contributor
PointLager
Posts: 183
Registered: ‎01-06-2014
0

Six months of credit history (got Amex, CapOne), gardening mode?

Hi everyone,

 

Just wanted to give shout outs after having lurked for a month or two. Learned quite a bit.   I am a new transplant to the US, about six months of credit history and am looking for some feedback on how I have progressed and next steps:

 

 

Month 0 = Got $500 secured BofA card (reported to EX, TU as secured)

Month 1 = Called Amex to ask about their products. Did not have a SSN yet nor did I apply. Credit officer said I should get a visa first then apply later. For some reason they ended up HP my TU.

 

Month 3 = Applied for two different card issuers and got approved for CapOne unsecured $500 limit (quick silver with $39 AF)/.  (my income is low to mid $100s).  I have been charging about $500-$1k per month on the two cards (secured and cap one), paying them both off before the statements are printed and occasionally leaving a sub $20 balance.  

 

Month 6= called and approved over the phone for Amex PRG charge card. Next day was booking a flight on delta via my delta profile and clicked on promo and got approved online for Delta Gold Amex with $2k limit.   Amex sent me a letter that my Delta gold was approved with 19% APR with 719 EX FICO.    My EX FAKO has been 730 for few months. The two Amex apps resulted in 2 separate HPs to EX, a day apart. No other bureau pulled.

 

Starting month seven.  I charged over $3k on the PRG because I needed a longer float due to Christmas and holiday travel than the Delta provides (i didnt want the delta to report a balance). As soon as I PIF I will start using the Delta to reach my $1k spend.

 

 

So currently I have:

 

EX: 4 HPs (Can i get either the first Amex HP removed since I never applied for a card?  Can i get the two recent Amex HPs combined into one?)

TU: 4 HPs (Amex month 0 non-application pull, one mobile carrier HP (i did not apply for an account there-they HP me to see if they would want a deposit. I eneded up switching to another contract carrier that did an internal credit check (SP?). Can i get the HP removed?), plus CapOne and the month 3 denied app HP).

 

The more I learn abuot Delta the more I realized that long term this isn't the card for me. Definitely not worth the AF once it hits.  

 

 

My goals are SPG and Platinum (Maybe Platinum MB) since this Fall (and def summer 2015) will do some traveling. .Ultimately if i keep plat (or MB plat) one day I would drop the PRG and add the Blue for the groceries category. 

 

I will probably not put any more charges on the capital one card. maybe they will auto-CIL me once they see the new Amex cards on my report (they've been SP me monthly). I dont want to risk a  HP on Cap One by asking for a CIL or a PC to a Venture card)

 

What would you guys go for next and at what time line? I will as for CIL at day 61 on the Delta to push me to $6k and have an above 5k limit.  i probably won't have more than 1200 put through the card. Would they still see that i have spent a lot on the PRG and have the ability to PIF?

 

Should I upgrade for SPG before my year is up on Delta? Would i keep the points on delta? ( I am assuming that I would need to app separately for SPG hence my question on how to try to trim one of those HPs)

 

Thanks a lot for any input.

 

Valued Contributor
daybreakgonesXe
Posts: 1,836
Registered: ‎11-17-2012
0

Re: Six months of credit history (got Amex, CapOne), gardening mode?


PointLager wrote:

Hi everyone,

 

Just wanted to give shout outs after having lurked for a month or two. Learned quite a bit.   I am a new transplant to the US, about six months of credit history and am looking for some feedback on how I have progressed and next steps:

 

 

Month 0 = Got $500 secured BofA card (reported to EX, TU as secured)

Month 1 = Called Amex to ask about their products. Did not have a SSN yet nor did I apply. Credit officer said I should get a visa first then apply later. For some reason they ended up HP my TU.

 

Month 3 = Applied for two different card issuers and got approved for CapOne unsecured $500 limit (quick silver with $39 AF)/.  (my income is low to mid $100s).  I have been charging about $500-$1k per month on the two cards (secured and cap one), paying them both off before the statements are printed and occasionally leaving a sub $20 balance.  

 

Month 6= called and approved over the phone for Amex PRG charge card. Next day was booking a flight on delta via my delta profile and clicked on promo and got approved online for Delta Gold Amex with $2k limit.   Amex sent me a letter that my Delta gold was approved with 19% APR with 719 EX FICO.    My EX FAKO has been 730 for few months. The two Amex apps resulted in 2 separate HPs to EX, a day apart. No other bureau pulled.

 

Starting month seven.  I charged over $3k on the PRG because I needed a longer float due to Christmas and holiday travel than the Delta provides (i didnt want the delta to report a balance). As soon as I PIF I will start using the Delta to reach my $1k spend.

 

 

So currently I have:

 

EX: 4 HPs (Can i get either the first Amex HP removed since I never applied for a card?  Can i get the two recent Amex HPs combined into one?)

TU: 4 HPs (Amex month 0 non-application pull, one mobile carrier HP (i did not apply for an account there-they HP me to see if they would want a deposit. I eneded up switching to another contract carrier that did an internal credit check (SP?). Can i get the HP removed?), plus CapOne and the month 3 denied app HP).

 

The more I learn abuot Delta the more I realized that long term this isn't the card for me. Definitely not worth the AF once it hits.  

 

 

My goals are SPG and Platinum (Maybe Platinum MB) since this Fall (and def summer 2015) will do some traveling. .Ultimately if i keep plat (or MB plat) one day I would drop the PRG and add the Blue for the groceries category. 

 

I will probably not put any more charges on the capital one card. maybe they will auto-CIL me once they see the new Amex cards on my report (they've been SP me monthly). I dont want to risk a  HP on Cap One by asking for a CIL or a PC to a Venture card)

 

What would you guys go for next and at what time line? I will as for CIL at day 61 on the Delta to push me to $6k and have an above 5k limit.  i probably won't have more than 1200 put through the card. Would they still see that i have spent a lot on the PRG and have the ability to PIF?

 

Should I upgrade for SPG before my year is up on Delta? Would i keep the points on delta? ( I am assuming that I would need to app separately for SPG hence my question on how to try to trim one of those HPs)

 

Thanks a lot for any input.

 


Woo! Hold on, cowboy, lemme get a grip on your profile! :smileytongue:

 

On the hard pulls: if you never applied for a CC, you are free to dispute those inquiries. However, you cannot combine them. 1 card = 1 or more HP, so it's perfectly reasonable. The one with the mobile carrier is still valid, but you may be able to contact the carrier directly since I'm assuming you switched to a different carrier right after? They may be willing to remove the HP for you, but I would dispute it on your credit report.

 

Since you are looking at SPG and Platinum, I would wait until January 2015 for maximum backdating (and give your reports a break!). You can app both, especially since one's a revolver and the other a charge. Of course, depending on your needs/willingness to pay AFs, you can push this back.

 

When was your last hard pull? Are there any other cards you're interested in, or is that it? If you're satisfied with your wallet, no need to app for more cards that may wind up not fitting your spending profile! Sit where you are and let your tradelines grow :smileyhappy:

 

Better to app separately on SPG because like I said, backdating, lets you use the last bit of your Delta points if you wish, and you get a sign-up bonus. Can't do that with a product change!

 

Also perfectly acceptable to ask for a CLI on your Cap One card if it's been 6 months since you opened it. Their CLIs are soft pulls, so no worries!

 

All the best in your credit journey! :smileyhappy:

Capital One Quicksilver World Mastercard $10k | JCPenney Platinum $7.5k | Shell Drive for Five $800 | Chase Freedom Visa Signature $9.8k | TD Bank Easy Rewards Visa Signature $5k | Chase Sapphire Visa Signature $10k | American Express Blue Sky $25k | Discover IT $9.5k | SavingStar American Express $14.8k

EQ FICO 735 TU FICO 747 Credit Karma (TU) 789 Transrisk 846/990 Credit Sesame (EX) 768 Credit.com (EX) 768 VantageScore 3.0 745
Contributor
PointLager
Posts: 183
Registered: ‎01-06-2014
0

Re: Six months of credit history (got Amex, CapOne), gardening mode?

Thanks so much for your reply @daybreakgonesXe !

 

I would LOVE to add CSP because one of my biggest monthly spends is on lunches (near work) and dinners (ordering in, or picking up after work).  The closest thing I found was one bodega that is coded as "grocery store" so I get the 2x MR on my PRG.

 

I would also like a card with no FX fee so in that sense CSP would be fantastic.  But when I first moved to the States my Chase banker said that the only way I would get a card with Chase (and not CSP) would be to put a deposit of at least $10k with them.    So my strategy would be to app for CSP after I've grown my $2k delta amex limit.  My only concern w/ delta limit is that I don't foresee myself putting a lot of spend onto that card once I reach the $1k.  Not sure if that would affect me getting to x3 = $6k then --> $9/12k limit eventually/ 

 

 

For Amex plat I am thinking of apping in Nov/Dec 2014 so I can max out the $400 combined airline credit under the single first year AF.

 

 

Thanks for the thumbs up on Cap One. I will definitely follow up with them. Although I read that they are stingy with limits with their mid and lower brands.  But worth trying. I will probably wait until I have Amex Delta reporting. 

 

 

I didn't mention that my month 3 denial was Barclays Rewards card. After reading tonight about how picky barclays can be i will avoid them for world cards for a while.   My goal would be to get a non-amex fx fee-free card to use as backup to amex when abroad.   Over the holidays I used Amex PRG despite the FX fee (I could have used CapOne and paid it daily so i can use the $500 fee) because I wanted to rack up the spend.  managed to hit $2k in three weeks and may print north of 3.5k on my first statement this month.  This hedges me for older fico models, just in case, and i hope sets a decent precedent with amex. (although on regular months i would dip to 1k on my card. )

Valued Contributor
daybreakgonesXe
Posts: 1,836
Registered: ‎11-17-2012
0

Re: Six months of credit history (got Amex, CapOne), gardening mode?


PointLager wrote:

Thanks so much for your reply @daybreakgonesXe !

 

I would LOVE to add CSP because one of my biggest monthly spends is on lunches (near work) and dinners (ordering in, or picking up after work).  The closest thing I found was one bodega that is coded as "grocery store" so I get the 2x MR on my PRG.

 

I would also like a card with no FX fee so in that sense CSP would be fantastic.  But when I first moved to the States my Chase banker said that the only way I would get a card with Chase (and not CSP) would be to put a deposit of at least $10k with them.    So my strategy would be to app for CSP after I've grown my $2k delta amex limit.  My only concern w/ delta limit is that I don't foresee myself putting a lot of spend onto that card once I reach the $1k.  Not sure if that would affect me getting to x3 = $6k then --> $9/12k limit eventually/ 

 

 

For Amex plat I am thinking of apping in Nov/Dec 2014 so I can max out the $400 combined airline credit under the single first year AF.

 

 

Thanks for the thumbs up on Cap One. I will definitely follow up with them. Although I read that they are stingy with limits with their mid and lower brands.  But worth trying. I will probably wait until I have Amex Delta reporting. 

 

 

I didn't mention that my month 3 denial was Barclays Rewards card. After reading tonight about how picky barclays can be i will avoid them for world cards for a while.   My goal would be to get a non-amex fx fee-free card to use as backup to amex when abroad.   Over the holidays I used Amex PRG despite the FX fee (I could have used CapOne and paid it daily so i can use the $500 fee) because I wanted to rack up the spend.  managed to hit $2k in three weeks and may print north of 3.5k on my first statement this month.  This hedges me for older fico models, just in case, and i hope sets a decent precedent with amex. (although on regular months i would dip to 1k on my card. )


No problem!

 

So let's see, you have:

CSP
Platinum
SPG

 

on your wishlist!

 

I can see why you would like to app Nov/Dec! If the $400 certainly outweighs the backdating (which it would!), then I say go for it and wait on SPG until at the very least Jan 2015!

 

Cap one has the no forex fee too, but I can understand with the $500 limit it's very restrictive overseas! See what you can do with a CLI!

 

When did you first open your first credit/loan product in the US? At the one year mark, I would check the pre-approval site on Chase to see if they offer you the CSP. When you get a pre-approval, that's a good indication that you can stroll into the bank and/or find the 40k offer after $2k spend link!

 

All the best! Good luck!

Capital One Quicksilver World Mastercard $10k | JCPenney Platinum $7.5k | Shell Drive for Five $800 | Chase Freedom Visa Signature $9.8k | TD Bank Easy Rewards Visa Signature $5k | Chase Sapphire Visa Signature $10k | American Express Blue Sky $25k | Discover IT $9.5k | SavingStar American Express $14.8k

EQ FICO 735 TU FICO 747 Credit Karma (TU) 789 Transrisk 846/990 Credit Sesame (EX) 768 Credit.com (EX) 768 VantageScore 3.0 745
Contributor
PointLager
Posts: 183
Registered: ‎01-06-2014
0

Re: Six months of credit history (got Amex, CapOne), gardening mode?

THANKS for such a great review of my file @daybreakgonesXe 

 

 

My first US credit card is early June 2013. It's the $500 BofA secured card.  Right before apping for my first Amex I called BofA to see if they would graduate my secured card early but no dice.  So hoping once June hits BofA will not only graduate me to unsecured but also CLI me without request. (is that even legal now after new laws? i really don't want BofA credit so won't risk a HP on a CLI)

 

I have a couple of checking and savings accounts at Chase  (amongst other banks) but no big balances but that is a good tip to hold off until the one year mark for Chase. 

 

 

I *may* have to apply for Amex Plat (or MB) in by Fall 2014 since the Mrs was talking about a potential cruise and I recall that Plat has a $350 onboard credit/upgrade. 

 

So Feb  2014 would be my 3x Delta CLI request (9m of US credit history)

June 2014 I will look for pre-q CSP preapproval/offer at 1yr US credit history mark

Aug 2014:  either ask for 2x CLI on delta again (to $12k) and/or app for Plat (if cruise is on)

 

For Cap One i just want it to boost my score via total available credit. Even if i get a CLI the card is likely getting put in a sock drawer (already is).  Not sure if you "owe" them a certain amount of spend once you get a CLI...

Valued Contributor
daybreakgonesXe
Posts: 1,836
Registered: ‎11-17-2012
0

Re: Six months of credit history (got Amex, CapOne), gardening mode?


PointLager wrote:

THANKS for such a great review of my file @daybreakgonesXe 

 

 

My first US credit card is early June 2013. It's the $500 BofA secured card.  Right before apping for my first Amex I called BofA to see if they would graduate my secured card early but no dice.  So hoping once June hits BofA will not only graduate me to unsecured but also CLI me without request. (is that even legal now after new laws? i really don't want BofA credit so won't risk a HP on a CLI)

 

I have a couple of checking and savings accounts at Chase  (amongst other banks) but no big balances but that is a good tip to hold off until the one year mark for Chase. 

 

 

I *may* have to apply for Amex Plat (or MB) in by Fall 2014 since the Mrs was talking about a potential cruise and I recall that Plat has a $350 onboard credit/upgrade. 

 

So Feb  2014 would be my 3x Delta CLI request (9m of US credit history)

June 2014 I will look for pre-q CSP preapproval/offer at 1yr US credit history mark

Aug 2014:  either ask for 2x CLI on delta again (to $12k) and/or app for Plat (if cruise is on)

 

For Cap One i just want it to boost my score via total available credit. Even if i get a CLI the card is likely getting put in a sock drawer (already is).  Not sure if you "owe" them a certain amount of spend once you get a CLI...


My pleasure!

 

Your line-up for apps in 2014 looks good! So no worries there!

 

And yes, even under the new laws BOA can still auto-CLI you, but with a soft pull of course! They need your approval if it requires a hard pull, so usually it's a customer initiatied request that will trigger a hard pull.

 

And nope, you don't owe Cap One anything when requesting a CLI! You can use it all you want or sockdrawer it or use it occasionally, either is fine!

 

For Aug 2014, why not ask for the full 3x again? If you eventually want the SPG, when you're due for another CLI, you can actually transfer most of the credit line from Delta to SPG! Might as well ask for the most and see how it goes!

Capital One Quicksilver World Mastercard $10k | JCPenney Platinum $7.5k | Shell Drive for Five $800 | Chase Freedom Visa Signature $9.8k | TD Bank Easy Rewards Visa Signature $5k | Chase Sapphire Visa Signature $10k | American Express Blue Sky $25k | Discover IT $9.5k | SavingStar American Express $14.8k

EQ FICO 735 TU FICO 747 Credit Karma (TU) 789 Transrisk 846/990 Credit Sesame (EX) 768 Credit.com (EX) 768 VantageScore 3.0 745
Regular Contributor
rlx01
Posts: 247
Registered: ‎02-10-2013
0

Re: Six months of credit history (got Amex, CapOne), gardening mode?

Hmmm... How does the PRG give you a longer float than the Delta when one has to be paid in full?

Contributor
PointLager
Posts: 183
Registered: ‎01-06-2014
0

Re: Six months of credit history (got Amex, CapOne), gardening mode?

re longer float on PRG vs delta amex i meant that with a charge card i can take the full billing/statement cycle to pay for my charges without taking a hit on my credit score via reported utilization. 

 

PRG basically gives me full 30 days from my statement to pay it off and not have it affect my credit score/reportable balance.  wheras on the delta revolver i would want to pay it before my statement cuts so i have an almost zero balance reporting. Because i have low revolver limits and short credit history i can't really afford any reported utilization above 10%

 

depending on how often you get paid (semi monthly or bi-weekly) you can pass two or three paychecks to pay your charge card. (i read how amex likes one large payment so in this case i prefer to use one of my checking accounts where on a weekly basis put away my credit card spend as i charge it and then pay a lump sum once a month).

 


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