topic Re: CC Decision in Credit Cards

CC Decision

Anonymous — Wed, 30 Jul 2008 19:13:25 GMT

Hi all, I've been lurking on the forums for the last few weeks and finally decided to jump in.

After getting addicted to the forums, I apped for an AmEx Blue and was approved (don't know CL, working out of state for a few weeks and card went to my house, don't really feel like calling). EQ of 714 at the time (don't know EX or TU, but CRs are both identical to EQ).

Long story short, I'm new to credit (oldest & only card (only CR entry for that matter) 2 y.o. this month, Visa Platinum Rewards 4K CL from credit union) and am working to get the best start I possibly can. I read the advice on allaboutthebenjamins.org, which seems to indicate I should try for another card or two right about now. I'm really interested in trying for a Discover card. What do you think? Would apping for another card so soon make AmEx nervous? (I've read they're pretty skittish)

Do you think I would have a pretty good chance of getting an approval? (No baddies on my report, no balances, PIF every month, etc.)

Thanks in advance for your input!

Edited for their/they're mistake... and I get mad at other people for that...

Message Edited by Skidude514 on 07-30-2008 12:13 PM

Re: CC Decision

smallfry — Tue, 29 Jul 2008 23:19:46 GMT

Why would anyone want a Discover card?

Re: CC Decision

Red1Blue — Tue, 29 Jul 2008 23:22:39 GMT

Try Citi or Chase. They are large banks and you could get a good card with good Credit Limits. What is your current Fico scores?

Re: CC Decision

Anonymous — Tue, 29 Jul 2008 23:29:16 GMT

EQ 714 on 7/12

Don't know how much of a hit that took (if any) from Amex app...

@ smallfry: Idk about Discover, just appealed to me the way people talk about them on the boards, good customer service reputation, etc.

Re: CC Decision

Anonymous — Tue, 29 Jul 2008 23:45:21 GMT

@Anonymous wrote:
EQ 714 on 7/12

Don't know how much of a hit that took (if any) from Amex app...

@ smallfry: Idk about Discover, just appealed to me the way people talk about them on the boards, good customer service reputation, etc.

Oh, admit it!! You just like the little "sun ball" from the ads!!

Nah, supposedly, Discover gives oodles of "debt management tools" that no one else offers. I know hubby's dying for one (and an EmEx, but not yet, obviously!)!

I wish you luck!!

Re: CC Decision

Anonymous — Tue, 29 Jul 2008 23:59:40 GMT

Shhh! Don't let anyone hear you! Discover won't approve people who want their cards for silly reasons...

Re: CC Decision

Anonymous — Wed, 30 Jul 2008 00:14:14 GMT

I dunno ... I'll bet that if you DO mention it, you might be saving some poor marketer's job!!

Re: CC Decision

fused — Wed, 30 Jul 2008 00:21:13 GMT

It's really best to know all three of your scores. If your reports are clean and you have a two-year history, I would look to BoA and maybe CITI in addition to Discover. It's best to have a couple of Visa or MC CCs as back-ups to Amex and Discover. You probably know that some merchants still do not take Amex and Discover. As for which CRAs will be pulled:

Amex almost always EX

Discover EX or TU

BoA EX but might be any one of the three

CITI most likely EQ or TU, but they have been known to pull EX

Re: CC Decision

Anonymous — Wed, 30 Jul 2008 00:53:58 GMT

@ Wonderin :-D lol

(edited for confusion... sorry that I'm so slow!)

Message Edited by Skidude514 on 07-29-2008 05:53 PM

Re: CC Decision

fused — Wed, 30 Jul 2008 00:38:10 GMT

Are you going for it?

Re: CC Decision

smallfry — Wed, 30 Jul 2008 00:46:17 GMT

@fused wrote:
It's really best to know all three of your scores. If your reports are clean and you have a two-year history, I would look to BoA and maybe CITI in addition to Discover. It's best to have a couple of Visa or MC CCs as back-ups to Amex and Discover. You probably know that some merchants still do not take Amex and Discover. As for which CRAs will be pulled:
Amex almost always EX
Discover EX or TU
BoA EX but might be any one of the three
CITI most likely EQ or TU, but they have been known to pull EX

Citi is always an EX pull for me. Always.

Re: CC Decision

fused — Wed, 30 Jul 2008 00:49:28 GMT

smallfry wrote:

Citi is always an EX pull for me. Always.

The first time I apped with CITI it was an EQ pull. I closed my card with CITI but have since reopened it. I still have a temp FA on EQ, so CITI yanked TU the second time around.

Re: CC Decision

Anonymous — Wed, 30 Jul 2008 01:00:23 GMT

I think I might go for a More... any thoughts about the other issuers? I have a BofA checking acct I opened for my job a couple of months ago and there are lots of Chases near my house... although its seems like lots of people are happy with Citi... o gee... maybe I have more research to do before I go app crazy... Thinking of MC since I already have Visa & Amex (hopefully Discover soon too... I don't think I can resist very much longer...)

these boards have a way of making you want new cards bad... I better make up my mind and get into the CCUC quick!

P.S. The reason I only have EQ is b/c that's the only CRA that would let me buy my info w/o having to call them... I guess I just need to remember to call myFICO when they're open, lol.

Edited for P.S...

Message Edited by Skidude514 on 07-29-2008 06:00 PM

Re: CC Decision

smallfry — Wed, 30 Jul 2008 01:38:34 GMT

@Anonymous wrote:
I think I might go for a More... any thoughts about the other issuers? I have a BofA checking acct I opened for my job a couple of months ago and there are lots of Chases near my house... although its seems like lots of people are happy with Citi... o gee... maybe I have more research to do before I go app crazy... Thinking of MC since I already have Visa & Amex (hopefully Discover soon too... I don't think I can resist very much longer...)

these boards have a way of making you want new cards bad... I better make up my mind and get into the CCUC quick!

P.S. The reason I only have EQ is b/c that's the only CRA that would let me buy my info w/o having to call them... I guess I just need to remember to call myFICO when they're open, lol.

Edited for P.S...

Message Edited by Skidude514 on 07-29-2008 06:00 PM

Chase Citi and BofA are all very prime.

Chase is nearly always a hard pull for CLI.

Citi is much more lenient in that regard.

BofA seems to be the easiest to get monster lines with over time. Soft pulls.

I have seen instances where people get very high limits with Chase but most do not. If I had to choose one over the other I would go with Citi all things considered.

Re: CC Decision

Anonymous — Wed, 30 Jul 2008 12:04:53 GMT

Thanks for all the responses! I really appreciate it. I'm going to confirm my identity for myFICO today after work (I realized its Pacific time, so I could have last night... oh well) and get all three scores... It seems like some people know their scores almost daily...(all three? not just one from scorewatch...) Is their a product for that? Or, are they just obsessed with pulling them & okay w/ spending the money?

Also any thoughts on whether Amex might be uncomfortable with several apps so soon after getting Blue?

Sorry for numerous/OT questions... I'm still learning

Re: CC Decision

Anonymous — Wed, 30 Jul 2008 12:11:22 GMT

I think the better question is: why would anyone want anything other than a discover card?

Well... and a backup visa/mc

Their "debt management tools" aren't anything you couldn't do with a calculator or an excel spreadsheet. Basically you tell it how long you want to have to pay off your debt or you tell it the monthly payment, then it will tell you what you need to pay each month or how long it will take. I realize that sentence is structured poorly and probably makes no sense, lol.

Re: CC Decision

Anonymous — Wed, 30 Jul 2008 13:08:42 GMT

@Anonymous wrote:
Well... and a backup visa/mc

lol, true, thankfully I've got that covered

Hey, at least a few other people want Discover cards! Those "debt management tools" won't be too useful for me anyway since I'll PIF, but I guess they're nice to have... Maybe I can use them for a couple of friends who need to check out these forums bad!

Update: Verified identity w/ myFICO & purchased all t...

Anonymous — Wed, 30 Jul 2008 23:38:39 GMT

Update: Verified identity w/ myFICO & purchased all three scores as of 7/30/08

EX 689 TU 716 EQ 714

Message Edited by Skidude514 on 07-30-2008 07:38 PM

Re: CC Decision

fused — Wed, 30 Jul 2008 23:49:19 GMT

smallfry wrote:

Chase Citi and BofA are all very prime.

Chase is nearly always a hard pull for CLI.

Citi is much more lenient in that regard.

BofA seems to be the easiest to get monster lines with over time. Soft pulls.

I have seen instances where people get very high limits with Chase but most do not. If I had to choose one over the other I would go with Citi all things considered.

Chase = least favorite prime ccc

CITI = we get along

BoA = love em to death

Re: CC Decision

fused — Wed, 30 Jul 2008 23:51:46 GMT

smallfry wrote:
Why would anyone want a Discover card?

For me it was just personal after I was initially TD by them in 12/05. They approved me last Nov for a Motiva card. So, I won!