Student, two lines of credit - getting a third?

[Anonymous]

So, I'm trying to debate whether or not I should apply for a third credit card. It's not really amounts as much as acceptance (want Amex; have Discover/Visa) and benefits (namely the extended warranty).

I'm a senior in college and presently have no job (this is why I think I'm probably sunk to begin with.

Hard Inquiries:
-Apartment Rental Company in Jan (Transunion)

-Wells Fargo (for credit card) in May (Experian)

-Verizon (For FiOS) in May (Experian)

Lines of credit (all have "paid as agreed", on time, full balance every month):

Individual account, Discover since Sep 2009, $500 Credit limit

Individual Account, Wells Fargo since May 2011, $2000 CL

Authorized User, Target , Date Open 11/2005, $7,500 CL

Authorized User, Chase, Date Open 06/1999, $19,000 CL

Credit score from Wells that arrived with new card:

795, Experian as source

Credit Scores (grain of salt FAKOs from today):

Experian 703
Equifax 722
Transunion 722

Looking for: An American Express Blue card; probably not the one with an annual fee as it is unlikely that my current spend would result in rewards exceeding the annual fee.

Advice? Wait or do it?

I don't want to look desperate for credit and with the inquiries I am afraid that will be what it looks like. I'm not planning on altering my overall spending at all; electronics purchases and purchases at places that take Amex exclusively near me (a few restaraunts, mainly)  would go from other cards/cash to the Amex (if I got it). However, there's no way for American Express to establish that as my intent, so it has to be the sum of the facts instead.

[Anonymous]

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@Anonymous wrote:

So, I'm trying to debate whether or not I should apply for a third credit card. It's not really amounts as much as acceptance (want Amex; have Discover/Visa) and benefits (namely the extended warranty).

I'm a senior in college and presently have no job (this is why I think I'm probably sunk to begin with.

Hard Inquiries:
-Apartment Rental Company in Jan (Transunion)

-Wells Fargo (for credit card) in May (Experian)

-Verizon (For FiOS) in May (Experian)

Lines of credit (all have "paid as agreed", on time, full balance every month):

Individual account, Discover since Sep 2009, $500 Credit limit

Individual Account, Wells Fargo since May 2011, $2000 CL

Authorized User, Target , Date Open 11/2005, $7,500 CL

Authorized User, Chase, Date Open 06/1999, $19,000 CL

Credit score from Wells that arrived with new card:

795, Experian as source

Credit Scores (grain of salt FAKOs from today):

Experian 703
Equifax 722
Transunion 722

Looking for: An American Express Blue card; probably not the one with an annual fee as it is unlikely that my current spend would result in rewards exceeding the annual fee.

Advice? Wait or do it?

I don't want to look desperate for credit and with the inquiries I am afraid that will be what it looks like. I'm not planning on altering my overall spending at all; electronics purchases and purchases at places that take Amex exclusively near me (a few restaraunts, mainly)  would go from other cards/cash to the Amex (if I got it). However, there's no way for American Express to establish that as my intent, so it has to be the sum of the facts instead.

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Except for the fact that you have no income, your app looks really good.  Those 3 inquiries probably won't have anything to do with a denial (if you get denied).  They were from a few months ago and two of them were for necessities, more or less. 

Pay any remaining balances on your existing CCs, then apply.  Unless you're planning on getting a job soon, your app won't look much different until those inquiries fall off in 12 months from the date of inquiry.

[Anonymous]

Thanks.

So despite the fact that I don't have a job and no recorded income (I'd have to answer 0), you think I have good odds at approval?

I heard on other sites that the Zync is easier to get but I'm not as interested in a card with an annual fee.

[Anonymous]

I am pretty certain under the new credit card laws, anyone under 21 must show their own source of income.

[Anonymous]

I'm a senior in college, I am 21.

Discover Card was before CARD Act regs were in effect.

At present, I am 21 and thus the "additional proof of ability to repay" clause shouldn't apply.

[Anonymous]

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@Anonymous wrote:

Thanks.

So despite the fact that I don't have a job and no recorded income (I'd have to answer 0), you think I have good odds at approval?

I heard on other sites that the Zync is easier to get but I'm not as interested in a card with an annual fee.

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No, I'm saying that if not for being unemployed, you have a good, though young, history.

Zync also doesn't show on your report the same way that a credit card does.  Zync is a NPSL charge card.

[Odiseous]

Personally; since you are only looking for one more card; I'd give it a go. Short of not having a job; everything looks great.

I was approved for BlueCash with only 16 months of credit history. And I think I had over a dozen inquiries at the time. 

If you get declined, try again in December (so you can retain 2011 for future back dating). 

[Anonymous]

yes...@ 21 you are good to go.

Zync is easier to get, but that holds true for most charge cards versus credit cards. My daughter got the Zync with only 4 months history and only one Cap1 card.

I would recommend that you apply for the card that you want. In this case, the BCE.

I agree with poster above. I would apply now, and if no go, try again Dec. 

Your INQ should be fine. I have the BCE. It is a great card to card to carry IMO.

Good luck with school and the card! HOPE YOU GET IT!!!