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Regular Contributor
d09
Posts: 172
Registered: ‎07-02-2008
0

approval possibilities?

I am considering a few cards, I will probably apply for one or two.

1. Amex Plat (I'm an existing Blue/Clear member)
2. Marriott Rewards
3. Nordstrom Visa
4. Mariott Rewards Visa Platinum
5. NW WorldPerks Visa Platinum
6. Citi HHonors Visa (Have an existing Citi Dividend World MC).

FICOs of TU/734, EQ/744, EX/748. I expect these to go up as I had overlarge balances reporting. I did not know this was suboptimal at the time I first pulled my FICOs.

I have no baddies *fingers crossed* and 1-2 INQs on each report currently.

My only caveat is I have very high HHI (thanks to my parents) but I don't want to subject them to the hassle of an f/r should that come up. For this reason I only report income I can verify personally through tax returns or pay stubs which I have abt 40K of this year. I don't know how much of a difference reported income makes in your approval. But yeah, I'd be very grateful for any help anyone can give me! .
Established Contributor
jaybird201
Posts: 672
Registered: ‎07-05-2008
0

Re: approval possibilities?

I do the same thing. I include my parents' incomes in HHI. Should you get FRed, explain your situation and if they feel that using your parents' incomes would bloat your CL more than the CCC is comfortable with, tell them just to use your income. Or, if you aren't working, tell them you're in school. You'd get a much smaller limit if you told them the latter, but you'd get the card, and with good payment history they'll bump you up over time.
Moderator Emeritus
cheddar
Posts: 6,794
Registered: ‎09-29-2007
0

Re: approval possibilities?

[ Edited ]


jaybird201 wrote:
I do the same thing. I include my parents' incomes in HHI. Should you get FRed, explain your situation and if they feel that using your parents' incomes would bloat your CL more than the CCC is comfortable with, tell them just to use your income. Or, if you aren't working, tell them you're in school. You'd get a much smaller limit if you told them the latter, but you'd get the card, and with good payment history they'll bump you up over time.



If you are FR'd, Amex gives you no opportunity to "explain your situation."  They want what they want when they want it, and won't listen to explanation.  Their decision is final, with no recourse or opportunity for explanation available to the cardholder.
 


Message Edited by cheddar on 08-04-2008 06:21 AM
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App free since 7/11/08.
TU 744 / EX 710 / EQ 694 (Starting to slip. :smileysurprised: )
Moderator Emeritus
cheddar
Posts: 6,794
Registered: ‎09-29-2007
0

Re: approval possibilities?



jaybird201 wrote:
I do the same thing. I include my parents' incomes in HHI.


Bad, bad idea.  HHI only includes income of those who can be considered a single economic unit as the cardholder.  It does not include the income of people who will not be assisting in paying off the debt, even if they happen to live under the same roof.
 
----------------------------
App free since 7/11/08.
TU 744 / EX 710 / EQ 694 (Starting to slip. :smileysurprised: )
Senior Contributor
FretlessMayhem
Posts: 3,279
Registered: ‎08-03-2007
0

Re: approval possibilities?



cheddar wrote:









If you are FR'd, Amex gives you no opportunity to "explain your situation."  They want what they want when they want it, and won't listen to explanation.  Their decision is final, with no recourse or opportunity for explanation available to the cardholder.

 


Message Edited by cheddar on 08-04-2008 06:21 AM




I always regard HHI to be only the incomes of people that would be expected to repay the debt.

Also, I just figured I'd interject that the lady I talked to during my FR was more than happy to listen to me explain.

I applied for my card in February, after receiving a substantial promotion at work, which included a pretty significant pay raise, which is what I put on the form.

They pulled my 2006 taxes, which showed substantially less income. I think it was maybe 50 to 60 percent of what I put on the form. She said she understood, and I didn't get any AA or CLD or anything.
Here we go again...
Regular Contributor
d09
Posts: 172
Registered: ‎07-02-2008
0

Re: approval possibilities?

my parents would assist in paying off the debt. Would they be responsible for it to as much a degree as their income would indicate? I doubt it. It's still mostly my expenses.

aren't CCC's less willing to approve students altogether for the most prime sounding CC's (which all of the ones I have listed are?)
Moderator Emeritus
cheddar
Posts: 6,794
Registered: ‎09-29-2007
0

Re: approval possibilities?



FretlessMayhem wrote:

Also, I just figured I'd interject that the lady I talked to during my FR was more than happy to listen to me explain.



I'm glad that worked out for you.  The vast majority of those who are FR'd and post about their experiences get no such opportunity.
 
----------------------------
App free since 7/11/08.
TU 744 / EX 710 / EQ 694 (Starting to slip. :smileysurprised: )
Epic Contributor
Creditaddict
Posts: 22,043
Registered: ‎10-23-2007
0

Re: approval possibilities?

I would for sure apply for Nordstrom!!!! they are very good with CLI and great prime +0% interest
Fico Scores: EQ- 626 Overstck., TU 696 Walmart, EX 695 Chase (11-05-14)
You will have to put up Electric Fence to keep me in the garden!
Highest Limit: Navy Federal Cash Sigi Visa $50k (AU)
Lowest Limit: Target $200
66 Cards and Counting :smileytongue:
Senior Contributor
FretlessMayhem
Posts: 3,279
Registered: ‎08-03-2007
0

Re: approval possibilities?



cheddar wrote:







FretlessMayhem wrote:



Also, I just figured I'd interject that the lady I talked to during my FR was more than happy to listen to me explain.






I'm glad that worked out for you.  The vast majority of those who are FR'd and post about their experiences get no such opportunity.

 





Thanks!

Now that I think about it, I don't recall ever reading a post about someone who got AA after the FR process off the top of my head.

I might have to search.
Here we go again...
Regular Contributor
d09
Posts: 172
Registered: ‎07-02-2008
0

Re: approval possibilities?

I'm definitely considering Nordstrom - one of the reasons why I'm asking for advice on this based on people's experiences, because although I know ymmv, I don't want to waste a hard inquiry on a card I'm really not qualified for or can't get. I'd rather use an inquiry to get a slightly less prestigious card and have it grow with me with auto-CLIs and usage (although I know all of these are VERY prime) than go for the top, waste an inquiry and get nowhere on recon.

I also checked WGMC and it wasn't particularly helpful in terms of providing more than approvals with scores and incomes, which is good, but this feedback provides subjective advice on what people know about each company from collective experience, which I find very helpful.

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