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improvingmycredit
Posts: 1,402
Registered: ‎07-12-2011
Re: What should be my next move?
[ Edited ]

bndresa1321 wrote:

I have been reading a lot on these boards and was hoping I could get some advice on possible credit card applications and any suggestions.  Here is my credit profile so you all can get a good idea of where I am coming from. 

 

I am a student who recently graduated in May and was thinking of adding a couple of new cards to complement. Thinking I want good rewards and relatively high CL. 

 

Income: 70,000

Last inquiry GECRB in July

AAoA: 2 years with oldest card 4 years ago

About 17% utilization, but will lower this to less than 10% soon.

 

myFICO TransUnion: 720 no negatives

EX: no score but no negatives on report

EQ: no score but no negatives on report

All on time payments.

 

One motorcycle loan (done next August)

School loans (deferred)

 

 

These are the cards I have been looking at:

 

AMEX blue cash preferred (grocery rewards)

USAA rate advantage (higher CL)

US Bank cash+ (solid rewards)

Chase Freedom

 

You can see my current cards in the signature. 

 

Any suggestions welcome, thank you. 

 


Hey bndresa1321!  Welcome to the forums!

I'm not going to address which rewards cards are best for your spending habits though you got some really good advice.  I'm just going to speak to the likelihood of approval with the cards you wish too get that you listed.  The BCP is probably an approval and because Amex likes the upwardly mobile, I'm guessing they will match or exceed your highest limit.  (My person opinion is that you will likely start with a 5K+ limit)  I recommend apping this card this month because it will set you up for backdating if you wish to acquire another Amex the first of next year.  Also, with your income and if you don't go app crazy this year, there is the likelihood that you will get the 61 day CLi.  I also think that you are a good candidate for the Freedom with a pretty decent limit.  I'm thinking 3 -5K+. They might surprise you and you might end up with a very high limit. Recon the limit if less then 3K.   The USAA I don't know about.  Maybe other's can chime in on this.  The US Bank Cash+ is a no go.  I think with a year of Amex and another high limit card under your belt, you are a shoo in next year for this card.  You will probably be offered the Cash Reaards card.  Just my take on the cards you want.  I hope this helps you.   :smileyhappy:. I don't know your FICOs so just my best guess.  If you app the Amex, go for the 61 Day CLI.  this will give you a good jump on getting higher limit cards in the future.  Good Luck!


Starting Score: 642
Current Score: EQ 773, EX 780, TU 777 (All FICO)
Goal Score: 800+

Cards: NFCU Flagship 50K, DC 30K, BCP 28.6K, Arrival+ 25K, Citi DP 22.8K, CSP 20.5K, TotalRewards 20.5K, QuickSilver 20K