topic Re: AMEX or Freedom? in Credit Card Applications

AMEX or Freedom?

Anonymous — Mon, 08 Dec 2014 02:10:40 GMT

Hello! Fairly new to posting but have been browsing it for months! Im a current college student, 19, and wanted to see what I should go for next and how I should go about it. I have around 15K annual income (decent paying part-time job) and have been working same place for about a year. also have 6K in savings. currently have a Rabobank college rewards card though Elan ($500 CL, 04/14) , a Macy's store card ($1000, 03/14), and a Discover It chrome ($1500, 07/14). No denials thus far. I'm also listed second on my car lease (June 2014, $6000 lease amount, $19,500 car total). also, utilization stays around 10-15% since i use my card for everything and pay it off every paycheck. Was browsing the web and really liked the Citi Thank You Preferred for college students, but also want my foot in the door with Chase (Freedom) and AMEX... Any advice? other cards to consider?

Re: AMEX or Freedom?

Anonymous — Mon, 08 Dec 2014 02:45:17 GMT

Chase is an amazing bank. But amex is too. I'd give the edge to amex because of backdating. One question though: why not both?

Re: AMEX or Freedom?

Anonymous — Mon, 08 Dec 2014 02:45:47 GMT

Also, a warm welcome to myFico forums!!

Re: AMEX or Freedom?

Anonymous — Mon, 08 Dec 2014 02:50:03 GMT

I have a similar file and was approved for the Freedom a couple days ago .Try the chase pre approval tool and see if anything pops up . If you can get an Amex before January it would help your AAoA when you get a second Amex down the line . I really want to get an Amex before the year ends but I'm worried about the thin file .

Re: AMEX or Freedom?

Anonymous — Mon, 08 Dec 2014 03:07:06 GMT

@Anonymous wrote:
Hello! Fairly new to posting but have been browsing it for months! Im a current college student, 19, and wanted to see what I should go for next and how I should go about it. I have around 15K annual income (decent paying part-time job) and have been working same place for about a year. also have 6K in savings. currently have a Rabobank college rewards card though Elan ($500 CL, 04/14) , a Macy's store card ($1000, 03/14), and a Discover It chrome ($1500, 07/14). No denials thus far. I'm also listed second on my car lease (June 2014, $6000 lease amount, $19,500 car total). also, utilization stays around 10-15% since i use my card for everything and pay it off every paycheck. Was browsing the web and really liked the Citi Thank You Preferred for college students, but also want my foot in the door with Chase (Freedom) and AMEX... Any advice? other cards to consider?

How good are your scores? If they are good, I'd apply for both...

Re: AMEX or Freedom?

newhis — Mon, 08 Dec 2014 03:47:03 GMT

I say go with Amex, lock the MSD, go for 61 day 3X CLI.

Wait for Freedom, I think you will get a low limit and 22.9 APR after the 0% promo.

I see a lot of reports that people get Amex with thin file, not so luck with Chase. You can apply for both, but I bet you will get a better SL with Amex and you will be able to increase that limit at 61 days and there is no way you can do that with Freedom.

Re: AMEX or Freedom?

Anonymous — Mon, 08 Dec 2014 04:02:17 GMT

read your reply and went ahead applied for both - got the "need to review application a bit longer" for Freedom, but AmEx BCE gave me $3,500! I was scared it'd be near impossible for me to get my foot in the door with AmEx but thankful it went through. Lets see what Chase says; I hope its not a denial but one good response is better than none

Re: AMEX or Freedom?

Anonymous — Mon, 08 Dec 2014 04:06:52 GMT

Congrats.. Call chase and check the application status via the automated line. If it is still pending, call them live tomorrow and talk to an analyst.

Re: AMEX or Freedom?

NRB525 — Mon, 08 Dec 2014 04:25:04 GMT

Congrats! That's a nice start with AMEX.

Re: AMEX or Freedom?

newhis — Mon, 08 Dec 2014 04:59:46 GMT

@Anonymous wrote:
read your reply and went ahead applied for both - got the "need to review application a bit longer" for Freedom, but AmEx BCE gave me $3,500! I was scared it'd be near impossible for me to get my foot in the door with AmEx but thankful it went through. Lets see what Chase says; I hope its not a denial but one good response is better than none

I hope you get the Freedom. Good luck.

Re: AMEX or Freedom?

Christina_xyt — Mon, 08 Dec 2014 05:01:28 GMT

I did almost the same thing like you did. I got freedom pending as well.

however, I was told that it could be because your credit file is less than 2 years in which case they will need to verify your ssn because on ex it will show unverified with those have less than two year credit files. Why not call the backdoor number and find out the status? They will let you know if they need more info to further review

Re: AMEX or Freedom?

Anonymous — Mon, 08 Dec 2014 13:37:40 GMT

Congratulations on your approval for your Amex BCE! Continue Success in The World of Credit Cards!

Re: AMEX or Freedom?

Anonymous — Mon, 08 Dec 2014 14:25:20 GMT

Congrats on your approval! Since your a college student, you might want to consider the uPromise Sallie Mae card. It has some really good rewards, but they can only be used to pay off student loans. If you have loans, it could be a good card for you.