topic Re: Would I get approved? in Credit Cards

Would I get approved?

Anonymous — Fri, 04 May 2018 17:24:59 GMT

Hi all,

Right now I am coming up on 7 months of credit history. Currently I have one card the Discover It Secured card that has a $200 limit on it. I don't see why Discover would not unsecured my card because I have always paid early, I have always had a utilization of less then 20%(8% this month because I paid it down before statement closed) and have been a responsible card user. Because of that I would like to add another card to my wallet, The American Express Blue Cash everyday. I would like to know if you think i'd get approved for this card? It seems like I would be approved based on what I have read. One last note is that my credit score is a 769. Thanks.

Re: Would I get approved?

Anonymous — Fri, 04 May 2018 17:40:47 GMT

have you tried to check to see if you have a pre approval?

Re: Would I get approved?

Anonymous — Fri, 04 May 2018 17:47:14 GMT

I did last month and it gave me the Hilton and delta cards. I plan to do it again once I see what happens with discover.

Re: Would I get approved?

K-in-Boston — Fri, 04 May 2018 17:51:37 GMT

I would certainly try the preapproval link. It's important to note that Amex will use your Experian FICO 08 score. If you don't have that, you can get it free from Discover at this link. (Discover's cardholder website give you a TransUnion FICO 08 score each month.) If your EX score is within the ballpark, unless there are some other factors we're not aware of you'd certainly be approved for the BCE.

Edit: Of course I just saw your signature that says EX 08. Other than some factor we're not aware of (very low income, previous bad history with Amex, etc.) I'd be surprised if you were denied.

Re: Would I get approved?

Adkins — Fri, 04 May 2018 18:07:41 GMT

@Anonymous wrote:
Hi all,

Right now I am coming up on 7 months of credit history. Currently I have one card the Discover It Secured card that has a $200 limit on it. I don't see why Discover would not unsecured my card because I have always paid early, I have always had a utilization of less then 20%(8% this month because I paid it down before statement closed) and have been a responsible card user. Because of that I would like to add another card to my wallet, The American Express Blue Cash everyday. I would like to know if you think i'd get approved for this card? It seems like I would be approved based on what I have read. One last note is that my credit score is a 769. Thanks.

My discover unsecured at 8 months.

Re: Would I get approved?

Brian_Earl_Spilner — Fri, 04 May 2018 18:17:24 GMT

Technically the graduation program last 12 months. They've just been graduating people early. Amex is a crap shoot because of your profile. Depending on the card they may require a year of credit use before approving you, while for others they will approve you with a thin profile

Re: Would I get approved?

Anonymous — Fri, 04 May 2018 19:06:54 GMT

What cards approve thin files? I have no baddies or anything on my file just low history and income as I’m a college student.

Re: Would I get approved?

Anonymous — Fri, 04 May 2018 20:25:59 GMT

Just speaking from my own personal experience, when I had gotten my first AMEX approval, my AaoOA was 6 mos. that was March of 2017. My one only card at the time was the secured Capital One. I checked for Pre approved offers from AMEX but did not show any, so I took a chance and applied for the BCE and was approved for 1K. They pulled EX, and at the time of my application, my EX score was 742. There's a chance you will get approved for the card, That is if you don't mind starting off with a low limit. With AMEX, there's no bucketing, so your card will grow over time with good management. Hope this helps

Re: Would I get approved?

Anonymous — Fri, 04 May 2018 20:56:11 GMT

Cool. I have low income so that is one thing I worry about.

Re: Would I get approved?

Brian_Earl_Spilner — Fri, 04 May 2018 22:44:01 GMT

You'll probably get approved for a charge card no problem. I say apply for the one you want, if you don't get it and just want to get in, apply for a charge card or delta skymiles afterwards. If this is gonna be your only card for a while, 2 pulls isn't bad for your score. You'll lose 5-6 points, but that'll be made up easy once the new card posts to your profile.

Re: Would I get approved?

Anonymous — Fri, 04 May 2018 23:06:48 GMT

What do you recommend as a charge card? How do they work? What limit do they give?

Re: Would I get approved?

Anonymous — Sat, 05 May 2018 00:15:43 GMT

I think you´re fine, you can apply. My credit history is short too, I started my credit journey on August 2017 with a Discover Secured Card with $300 SL, two months later I applied for a Cap1 Platinum and it was approved for $300 (Steps program). In Feb 2018 I cold applied for an Amex Everyday and was approved for $2,000 SL, a week after that I applied for the Amex Blue Cash and they approved me for $500. My Discover card become unsecured few days after my 7th statement cut with CLI to $1,500 (I always keep the util below 10%). If you don't mind, how much is your income?

Re: Would I get approved?

Anonymous — Sat, 05 May 2018 00:26:55 GMT

Income is like 3500 based on last year tax return if they request it from IRS. I’m not sure what to put when they ask. I have more money come in but it’s more like room and board payment etc being in college.

Re: Would I get approved?

Anonymous — Sat, 05 May 2018 00:27:22 GMT

Sounds like everyday card gives higher SL?

Re: Would I get approved?

601flyguy — Sat, 05 May 2018 00:38:38 GMT

@clark_d_shark
My experience was the exact same except my score was around 720, i had a qs1 and store cards, and I received a $500cl. My relationship has definitely grown. I dont think you will have an issue. Just don't expect a high cl.

Re: Would I get approved?

Anonymous — Sat, 05 May 2018 00:49:21 GMT

Would you recommend putting on my income to include other “money” I get or just do money that if they pulled my tax stuff I’d be the same number?

Re: Would I get approved?

Anonymous — Sat, 05 May 2018 03:43:37 GMT

I think you can combine household income too, so as long as it's income available to you. My income isn't that much either. It's just one factor. AMEX reviews the rest of your credit profile when making a decision. I honestly think you have a good chance of approval.

Re: Would I get approved?

Anonymous — Sat, 05 May 2018 04:35:17 GMT

I wouldn’t apply for a charge card. You need something to build credit and you have a low income. All three charge cards have an annual fee. Your income doesn’t support carrying a minimum $95 AF on the Amex green and the sign up bonus spend requirements are around how much you earn in an entire year. If you want an Amex, I would only consider the Blue Cash Everyday or the Everyday because you won’t waste money on an AF and you might have a chance at earning the SUB without spending a year’s income.

Re: Would I get approved?

Anonymous — Sat, 05 May 2018 11:43:34 GMT

Right, that’s why I’m looking at the BCE card. I’m going to wait to see what Discover does this coming week ( if anything) and apply at the end of the week for the BCE card.

Re: Would I get approved?

Anonymous — Sat, 05 May 2018 12:03:27 GMT

@Workinghard1
As 601flyguy says, you have good chances to be approved, just don't expect a high SL. I forgot to mention, my EX score at the time I applied for the ED was 720