topic Re: Approved for Amex blue cash everyday card, next step? in Credit Card Approvals

Approved for Amex blue cash everyday card, next step?

Anonymous — Mon, 19 Oct 2015 19:42:05 GMT

Hey everyone,

Just got approved for the Amex Blue cash everyday card this morning with a $1000 limit! Pretty happy with the approval. I am a college student so this is only my third card and I just started building my credit about 8 months ago. I currently have:

Chase freedom -$500 limit

Discover IT- $1500

Amex blue- $1000

I made a post about a month ago and a lot of members were telling me to get about 4 cards now so my AAoA can be very strong down the line with 4 very old cards. I was wondering if the Citi double cash card would be a good 4th card for me. It is very tempting for me because they offer the free FICO reporting of equifax and with amex doing experian and discover showing me transunion I would get all 3 bureaus covered for free montly with a true FICO 8. I do not want to just get a card for that sole reason only though. Would you guys have any other recommendations besides that one for a good 4th long term card? When I applied for Discover and was approved it said my Equifax FICO score was 725 on the paper that came with my card. I am not sure about the other 2 bureaus but I would assume roughly the same?

I do not carry a balance on any cards, PIF each and every month so the APR isn't a huge issue for me. Thanks for any help!

Re: Approved for Amex blue cash everyday card, next step?

jacetx — Mon, 19 Oct 2015 19:46:26 GMT

@Anonymous wrote:
Hey everyone,

Just got approved for the Amex Blue cash everyday card this morning with a $1000 limit! Pretty happy with the approval. I am a college student so this is only my third card and I just started building my credit about 8 months ago. I currently have:

Chase freedom -$500 limit
Discover IT- $1500
Amex blue- $1000

I made a post about a month ago and a lot of members were telling me to get about 4 cards now so my AAoA can be very strong down the line with 4 very old cards. I was wondering if the Citi double cash card would be a good 4th card for me. It is very tempting for me because they offer the free FICO reporting of equifax and with amex doing experian and discover showing me transunion I would get all 3 bureaus covered for free montly with a true FICO 8. I do not want to just get a card for that sole reason only though. Would you guys have any other recommendations besides that one for a good 4th long term card? When I applied for Discover and was approved it said my Equifax FICO score was 725 on the paper that came with my card. I am not sure about the other 2 bureaus but I would assume roughly the same?

I do not carry a balance on any cards, PIF each and every month so the APR isn't a huge issue for me. Thanks for any help!

Congratulations on the approval. As far as the number of cards, 3 are enough to maximize your FICO score. You should get a new card if there is a benefit for you, don't get it just for the heck of having 4 cards, 3 is enough. Also remember that with the Citi Double Cash you get 1% when you spend, 1% when you pay back.

Re: Approved for Amex blue cash everyday card, next step?

ddemari — Mon, 19 Oct 2015 19:50:34 GMT

Congrats! You started out with 3 very good cards. Way to go!

Re: Approved for Amex blue cash everyday card, next step?

Pway — Mon, 19 Oct 2015 19:56:12 GMT

Congrats, I agree with the others here. You have three excellent cards that will grow with you along the way. There is no need to go out and grab another one just because you can. Take care of those.

Re: Approved for Amex blue cash everyday card, next step?

Anonymous — Mon, 19 Oct 2015 20:11:28 GMT

You have three very respectable cards there to start of. All 3 will grow pretty well with you if you treat them right. Like many others have said, 3 is enough for optimal scoring and only you can determine if your an justify the fourth based on your monthly spend/rewards.

Re: Approved for Amex blue cash everyday card, next step?

Anonymous — Mon, 19 Oct 2015 20:42:12 GMT

Wow you are making some amazing progress. Keep up the great work. Keep showing those cards responsible use and you will continue to be rewarded in the world of credit. Congrats!!

Re: Approved for Amex blue cash everyday card, next step?

Focused10 — Mon, 19 Oct 2015 20:45:28 GMT

Great job and congrats! I would sit still with those 3 and let them grow.

Re: Approved for Amex blue cash everyday card, next step?

B335is — Mon, 19 Oct 2015 20:47:14 GMT

Congrats!!

Re: Approved for Amex blue cash everyday card, next step?

Anonymous — Mon, 19 Oct 2015 20:56:16 GMT

Congrats on the great set of cards! I'm assuming since you're a college student that your AAoA is pretty young; more importantly, this means all three accounts are probably very new. I would be cautious applying for too much credit so quickly, as that usually does lower your chances of approval (even with your decent scores). Keep in mind that if you got your Discover card this year then you'll already be getting at least 2% cash back on all purchases, so the Citi DC would serve no purpose this year (other than the free FICO score).

I think if I were you I would follow the advice of other posters and grow the 3 accounts instead of opening a fourth; you can always get it next year after the Discover double promo runs out. You're doing really well so far though!

EDIT: If you're set on getting a fourth card and are interested in cash back, then yes Citi DC is definitely one of if not the best cards to get; you've already got 3 category bonus cards so having a general spend card like the DC will complement them well.

Re: Approved for Amex blue cash everyday card, next step?

alextercero — Mon, 19 Oct 2015 21:14:07 GMT

Congrats

Re: Approved for Amex blue cash everyday card, next step?

Anonymous — Mon, 19 Oct 2015 22:40:33 GMT

Good job!! Enjoy it.

Re: Approved for Amex blue cash everyday card, next step?

Anonymous — Tue, 20 Oct 2015 06:05:03 GMT

wow thank you everyone for the kind words and wisdom!! As awesome as it would be to have all 3 bureau scores for free by having the citi card I am going to listen to the people before me (you guys haha) and not just get the new card to get it. I don't have a real reason to and hardly use the 2 I have as it stands now. under 10% uti on both. Honestly just throw a few items a month on each to get utilizaiton and try to bump my scores. I do not like the idea of debt/credit but I know if you play the game right it helps in the long run so that's what I'm doing. Everything is PIF a few days after my statements cut. Thank you all again for the info and tips.

One last question. When is an ideal time (like how long should I be sticking with these 3 cards before I get another) to get a new card and what are typically cards you guys go for later on in your credit history life? Or are new cards even going to be necessary if everything is going well with what I have now and CLI's come along pretty high?

Re: Approved for Amex blue cash everyday card, next step?

OmarGB9 — Tue, 20 Oct 2015 06:17:50 GMT

Grats! Good start. And only add accounts if you need it or you'll benefit from it. Don't just add cards for the sake of adding. You can probably add more accounts down the line after a year or two, again, only if you feel it's necessary.

Re: Approved for Amex blue cash everyday card, next step?

Country_Feller — Tue, 20 Oct 2015 10:31:48 GMT

WOW, Good deal, Congratulations!!!!!

Re: Approved for Amex blue cash everyday card, next step?

Anonymous — Tue, 20 Oct 2015 14:10:00 GMT

@Anonymous wrote:
I don't have a real reason to and hardly use the 2 I have as it stands now. under 10% uti on both. Honestly just throw a few items a month on each to get utilizaiton and try to bump my scores. I do not like the idea of debt/credit but I know if you play the game right it helps in the long run so that's what I'm doing. Everything is PIF a few days after my statements cut.

I try to put as much as I can on my credit cards; not because I necessarily like debt/credit, but because I end up getting free money back in my pockets that I wouldn't otherwise have had using just cash. Besides, if I carry cash and lose it then it's gone; if I lose a credit card I just report it stolen and keep my money I do also PIF, which by the way is really a prerequisite to using rewards credit cards...so you're on the right track already!

@Anonymous wrote:

One last question. When is an ideal time (like how long should I be sticking with these 3 cards before I get another) to get a new card and what are typically cards you guys go for later on in your credit history life? Or are new cards even going to be necessary if everything is going well with what I have now and CLI's come along pretty high?

Hard inquiries still show up on your report but no longer affect your score after 1 year; after 2 years they're completely removed. Having at least 1 year also shows good payment history on your card and improves your AAoA from the initial hit of a new account; some credit card companies do like to see one year of history before giving you their better cards (in particular, Chase and Barclays I believe are both like this). So I would say 1-2 years is a good general guideline, but there are people who apply for lots of credit that will get new cards every 6 months...my guess is you're not in that group though

As to the "better" or "end-game" cards...as Omar said this really depends on your spending patterns and lifestyle choices; essentially this means that they change as you change. Currently I'm all in on cahsback, but if something happens next year (e.g., I win the lottery), then maybe I want more travel rewards so that I can see the world. Suddenly the cards I want will shift to something that earns UR or MR instead since I can redeem for miles or hotel rewards. Or maybe I get hotel/airline cards instead...you get the point. In summary, figure out what you want to do, then look for the cards to complement that goal, not vice versa.

Re: Approved for Amex blue cash everyday card, next step?

Anonymous — Tue, 20 Oct 2015 14:23:21 GMT

Nice Card! Congrats :-)

Re: Approved for Amex blue cash everyday card, next step?

Anonymous — Wed, 21 Oct 2015 21:04:36 GMT

Wow just got my card in and activated it online to find out the limit is $6000 not $1000! The lady on the phone that verified my address made a mistake when she told me. The papers with the card also state $6000 credit line. I'm stoked!