@estukay wrote:Ok, yeah I think I would like that card because it fits my needs of groceries and gas. I use my discover for the 5% cashback on gas but it ends this month so i figured the 2 % is better than nothing.
Do you think if i wait and try to build my credit a little longer, my chances of getting approved are better?
Underwriting wise you likely qualify if your first card was opened call it a year ago, but unless you have income Amex is a challenge. Amex isn't as student friendly as some others.
Of course if that falls through you can always pick up a BOFA student card which you can tack their 1-2-3 rewards on which is nearly identical to the BCE.
@guiness56 wrote:
@Revelate wrote:I'm pretty confident the Discover is the same as Wally: baseline/classic TU '08? The scores have matched from reports and IIRC somewhere in the details it lists the Transunion product being used and it's the same for both as someone uncovered when it was released.
The only bankcard enhanced industry options I'm aware of are Merrick and FBNO.
Personally I use the TU'08 score off my Wally card as my benchmark for everything credit-card / personal-loan related. It doesn't apply to mortgages nor auto-loans typically.
I don't know then. On other threads on here it says Discover uses an bankcard enhanced.
Whatever it is, it is a FICO score.
Score range is out of 850; the BC industry option is out of 900.
I only could only find one post suggesting the Discover was BC, not certain where and why it was stated as such when everywhere else considered it unknown at the time.
@estukay wrote:Yeah i have an annual income of around 9.5k not including financial aid and scholarships.
I've always wanted an amex i dont know why. Hopefully i can obtain soon. i just don'y want to do a hard pull which can affect my score negatively.
Might not be acceptable for Amex; however, the last thing you should be worried about right now is your credit score. Go and establish the lines you need (as mentioned, an Amex app and if that doesn't work BOFA's 1-2-3 for students are both reasonble) and then hang tight till you graduate and pick up whatever you want when you have a job and receive your second paystub with a likely 750+ FICO score by that point.
@estukay wrote:Okay, so is your advice to not apply for it? That's really the only card im interested in. I could wait though. Just would'nt mind having such a card.
I'd apply for it sometime before the end of the year: one's credit score is pretty meaningless when establishing credit - get the requisite tradelines (credit cards in this case) and go on with life. As mentioned the BOFA card is nearly identical honestly and comes in a student version which should be obtainable; however, having an Amex membership provides some benefits down the road when you transition out of the student cards when income is established but I don't think it's a guaruntee.
If it were me I'd wait for six months from when you opened the most card, apply for the Amex, and if that failed, pick up the BOFA student 1-2-3 rewards card and call it good till graduation.