re: Approved for Amex Blue

[chloemon]

Just wanted to send a quick thank you to everyone on the board.  I have been lurking for a few months now (discovered the board while searching to see if it was a good idea to upgrade from Banana Republic store card to Banana Republic visa).

Decided from reading all of your advice that I should establish a relationship with Amex - I apped for the Blue Everyday and was approved on Monday.  Called this afternoon for the credit line and they have started me off at 2k but encouraged me to call in 60 days to increase!

[DrJim]

I started my AMEX Gold Skymiles at $2K.  On day 61 I called in at took it to $6K.  Six months later I was at $18K.  Come the end of July I'll ask for $25K (max for their automated system) and stop there, very happy!

[ChipotlePowered]

chloemon,

just curious what you put as your household income. 796 is a pretty damn good score for only a $2,000 limit.

[chloemon]

ChipoltlePowered, 

I put about $3,700 per month as my household income - it was a conservative number as I just started (ie as of the 15th) renting out the condo I own and didn't want to be turned down if I included that income.

My yearly income is about 46k gross but I put a high percentage of my income into my 401k and other investment accounts.  Typically, I only charge 1-1.5k per month and always PIF.

Hope that helps.

C

edited to add: Just realized I still did not include the rental income as part of my current groos  - counting 80% of the rent my gross  income bumps to 57k a year  

[webhopper]

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@chloemon wrote:

ChipoltlePowered, 

I put about $3,700 per month as my household income - it was a conservative number as I just started (ie as of the 15th) renting out the condo I own and didn't want to be turned down if I included that income.

My yearly income is about 46k gross but I put a high percentage of my income into my 401k and other investment accounts.  Typically, I only charge 1-1.5k per month and always PIF.

Hope that helps.

C

edited to add: Just realized I still did not include the rental income as part of my current groos  - counting 80% of the rent my gross  income bumps to 57k a year  

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Good luck with the rental   I've been renting out a duplex since 2008, its a nice little passive income.  I just started renting out the other side of the duplex in 2011. On my apps I claim the gross that I made the previous year unless they specifically ask for net. Most of the time they ask for gross. I always tell them clearly that this is rental income, that way they can adjust to 75% or 80%, whatever their UW system requires them to do.