topic Re: Amazon store card with $120 GC SUB. Should i apply? in Credit Card Applications

Amazon store card with $120 GC SUB. Should i apply?

Anonymous — Tue, 03 Mar 2020 10:18:37 GMT

So, Back in October I tred to apply for the Amazon store card and was denied for:

Most recently opened revolving account is too new
Oldest account was opened too recently
Total of credit limits and loan amounts is too low

At the the time my profile wasn't nearly as good as it is now but i'm still on very thin ground.

Average account of accounts is is 8 months and average age of oldest account is 10 months. Around 730 FICOs it seems.

Amazon again gave me a popup that says "Instant $120 Amazon.com Gift Card upon approval" which is VERY temping but i'm trying to hold out thinking my approval chances are again slim and it will just be another HP.

Thoughts?

Re: Amazon store card with $120 GC SUB. Should i apply?

Anonymous — Tue, 03 Mar 2020 14:21:41 GMT

It seems those pop up offers before checkout are marketing offers. How many inquiries do you have and where are you getting your scores?

Re: Amazon store card with $120 GC SUB. Should i apply?

seattletravels — Tue, 03 Mar 2020 14:34:22 GMT

Are the 2 cards in your signature your only credit accounts?

Re: Amazon store card with $120 GC SUB. Should i apply?

FinStar — Tue, 03 Mar 2020 15:57:39 GMT

@Anonymous wrote:
So, Back in October I tred to apply for the Amazon store card and was denied for:

Most recently opened revolving account is too new
Oldest account was opened too recently
Total of credit limits and loan amounts is too low

At the the time my profile wasn't nearly as good as it is now but i'm still on very thin ground.

Average account of accounts is is 8 months and average age of oldest account is 10 months. Around 730 FICOs it seems.

Amazon again gave me a popup that says "Instant $120 Amazon.com Gift Card upon approval" which is VERY temping but i'm trying to hold out thinking my approval chances are again slim and it will just be another HP.

Thoughts?

OP, I think you answered your own question not to mention prior threads on a similar situation/topic. And, while your profile continues to age, October was roughly ~5 months ago. You've been on the forums long enough to assess that no one here can provide you with exact science on the odds of approval. If you want to try going for it, then it's just another HP at the end of the day. Potentially you get approved, or maybe not. Only you can decide on how you want to pursue it.

Good luck on whatever/whenever you decide.

Re: Amazon store card with $120 GC SUB. Should i apply?

Brian_Earl_Spilner — Tue, 03 Mar 2020 16:22:44 GMT

You've been advised multiple times to wait a year in your other threads. You got so frustrated that you took a break from credit. If you get denied, it's only going to increase your frustration and push you further back in your build. Best to leave it alone imo.

Re: Amazon store card with $120 GC SUB. Should i apply?

Anonymous — Tue, 03 Mar 2020 16:57:45 GMT

Hi Credit_user_19,

I would sugest opening a couple of secured credit cars.

Most people recomend Discover and Capital One secured cards.

I would recomend getting two secured cards. The card age will stay with the cards when you are graduated from secured to unsecured.

Both will give you a $200 CL. use them to buy small items and every week pay back the balance.

In 5 -6 months they will start doing reviews and if your credit is strong enough, gaduate you to an unsecured card with a much higher CL.

I opened a discover checking account for my wife to start the relationship with Discover. It includes a cash back debit card. She then applied for a secured Discover card after 2 months.

She was given a $200 CL for a $49 refundable deposit.

My wife also got a secured card with Capital One for a $200 refundable deposit. $200 CL.

After just one month my wife's fico score jumped up 48 points!

Ymmv, but adding two more credit lines will help you out.

Re: Amazon store card with $120 GC SUB. Should i apply?

FinStar — Tue, 03 Mar 2020 17:13:32 GMT

@Anonymous wrote:
Hi Credit_user_19,
I would sugest opening a couple of secured credit cars.
Most people recomend Discover and Capital One secured cards.
I would recomend getting two secured cards. The card age will stay with the cards when you are graduated from secured to unsecured.
Both will give you a $200 CL. use them to buy small items and every week pay back the balance.
In 5 -6 months they will start doing reviews and if your credit is strong enough, gaduate you to an unsecured card with a much higher CL.
I opened a discover checking account for my wife to start the relationship with Discover. It includes a cash back debit card. She then applied for a secured Discover card after 2 months.
She was given a $200 CL for a $49 refundable deposit.
My wife also got a secured card with Capital One for a $200 refundable deposit. $200 CL.
After just one month my wife's fico score jumped up 48 points!
Ymmv, but adding two more credit lines will help you out.

Unfortunately, based on prior threads (including the one below - for background), that is an option that he's not willing to be flexible - no Discover and no secured CCs. He has considered Merrick and Credit One not long ago, but was a no-go either.

https://ficoforums.myfico.com/t5/Credit-Card-Applications/Credit-Journey-AMEX-BCE-Prequal-Denied-Cap1-Prequal-SaverOne/td-p/5776100

Re: Amazon store card with $120 GC SUB. Should i apply?

Anonymous — Tue, 03 Mar 2020 17:51:06 GMT

@Brian_Earl_Spilner wrote:
You've been advised multiple times to wait a year in your other threads. You got so frustrated that you took a break from credit. If you get denied, it's only going to increase your frustration and push you further back in your build. Best to leave it alone imo.

Yeah. I am going to let it be.

Nice instant SUB but there will be more down the road worth more.

Re: Amazon store card with $120 GC SUB. Should i apply?

Anonymous — Tue, 03 Mar 2020 17:52:50 GMT

@Anonymous wrote:
Hi Credit_user_19,
I would sugest opening a couple of secured credit cars.
Most people recomend Discover and Capital One secured cards.
I would recomend getting two secured cards. The card age will stay with the cards when you are graduated from secured to unsecured.
Both will give you a $200 CL. use them to buy small items and every week pay back the balance.
In 5 -6 months they will start doing reviews and if your credit is strong enough, gaduate you to an unsecured card with a much higher CL.
I opened a discover checking account for my wife to start the relationship with Discover. It includes a cash back debit card. She then applied for a secured Discover card after 2 months.
She was given a $200 CL for a $49 refundable deposit.
My wife also got a secured card with Capital One for a $200 refundable deposit. $200 CL.
After just one month my wife's fico score jumped up 48 points!
Ymmv, but adding two more credit lines will help you out.

As previous mentioned I see no neeed for a no rewards card when I already have one.

Re: Amazon store card with $120 GC SUB. Should i apply?

FICOlearner123 — Tue, 03 Mar 2020 19:56:52 GMT

Waiting is best, also when its time to apply you can see if BofA cash rewards is a better fit as it will offer you 3% cash back on not only amazon but all online shopping, you can also choose another category instead such as gas / dinning depending on your spend, the card also has $200 sign up bonus.

Re: Amazon store card with $120 GC SUB. Should i apply?

Anonymous — Wed, 04 Mar 2020 11:20:27 GMT

I'm not sure what the aversion to Discover is, (acceptance?) but by now your Discover would have unsecured. Also you can immediately switch to the 5% category card after the first statement. You would be earning 10% (because of the first year match) cash back in rotating categories. It really is the perfect credit building card. Nothing comes close.

Re: Amazon store card with $120 GC SUB. Should i apply?

Anonymous — Wed, 04 Mar 2020 16:06:01 GMT

I Love my Discover 10% cash back on rotating categories the first year.

10% cash back on groceries or gas. I will take that everyday, anyday.

I can't wait until next year when I can pick my second Discover card, probably the gas and restaurant cash back.

Re: Amazon store card with $120 GC SUB. Should i apply?

Anonymous — Sat, 21 Mar 2020 08:31:15 GMT

I decided to go for this and was approved.

https://ficoforums.myfico.com/t5/Credit-Card-Approvals/Amazon-store-card-with-120-GC-SUB-Approved/td-p/5958213

Re: Amazon store card with $120 GC SUB. Should i apply?

AllZero — Sat, 21 Mar 2020 08:40:53 GMT

Congratulations on your approval!

IBTL

Re: Amazon store card with $120 GC SUB. Should i apply?

Remedios — Sat, 21 Mar 2020 14:17:44 GMT

Congrats on your new card.

Locking this thread as OP has been approved