topic Re: Where to go from here? in Credit Cards

Where to go from here?

smc733 — Mon, 07 Jun 2010 20:46:51 GMT

Hi everyone,

I was just approved for a Citi Forward Card with a $1,200 limit. I cancelled my BankAmericard Secured Visa so I could get the deposit back. My scores (pre-hard pull of this card) were 681, 685, 681. So where do I go from here, I use very little, but would like to have between 2-4 cards, the other ones I'm considering are:

1. Chase +1 Visa

2. American Express Blue

3. Discover Student Card

My primary goal is the Amex Blue, so my question is when should I apply for that card?

Thanks

Re: Where to go from here?

Anonymous — Tue, 08 Jun 2010 00:55:27 GMT

IMO, I would go for Discover Student next. I would wait over 6 months and then consider the AMEX Blue.

Re: Where to go from here?

smc733 — Tue, 08 Jun 2010 01:41:08 GMT

Really? I thought Discover was becoming harder to get, though I do realize I'm not after the Amex college-ish card (Zync), and never will be. So would it kill me to app for Discover student now? I was thinking Discover Student card tonight or tomorrow, then Amex Blue in late November, in time to use it for Xmas gift purchases.

Re: Where to go from here?

smc733 — Wed, 09 Jun 2010 02:37:05 GMT

Did something really stupid today. Against the advice I received, I wasted two more inquiries.

Amex Blue = Denied, for a crap ton of reasons.

Chase Student +1, I think I might get this one.

After this, I think it would be best to wait for 3-6 months, and then I supposed I'll bite the bullet and go for the Zync.

Re: Where to go from here?

Anonymous — Wed, 09 Jun 2010 05:05:19 GMT

Your scores aren't high enough for an Amex revolving credit card and your history doesn't look like its long enough either. You might have been accepted for the Zync card, since it seems a bunch of people here have been approved with limited histories and lower scores.

Re: Where to go from here?

smc733 — Wed, 09 Jun 2010 05:17:39 GMT

Thanks for replying. I kind of figured that after I applied, as I'm reading if you don't have a lengthy history, they tend to prefer you with a charge card. I've heard of people even being denied Blue and getting the Gold!

So my question is, rather than ding the credit score one more time, is there a number I can call to have them recon for the Zync? As in ask them to reconsider my application for the Zync instead of the Blue?

Thanks.

Re: Where to go from here?

Anonymous — Wed, 09 Jun 2010 07:38:10 GMT

There should be a phone number with the denial letter. I think it is worth calling and asking for reconsideration on Zync. It can't hurt.

Re: Where to go from here?

smc733 — Wed, 09 Jun 2010 15:20:52 GMT

I called Amex and they're going to run a manual recon for the Zync card.

Re: Where to go from here?

ALP — Wed, 09 Jun 2010 16:26:58 GMT

Sounds promising, GL!!

Re: Where to go from here?

smc733 — Wed, 09 Jun 2010 21:11:41 GMT

When I check the status of the application online it says "In Progress" not denied like the Blue immediately said. It mentions they may need to ask for further information such as address verification (like Citi did before they approved my Forward card). I'm hoping this means I'm on the right track to approval.

With my stats, I feel like I'm about as prime as a college student can come. I really only want it just so I can join the Amex network in the future and reap the benefits their cardmembers enjoy. (Ideally I'd like to have a Gold and Blue card around the time I graduate).

Hopefully Chase will get back to me soon as well. All that is left now is Discover, which is apparently fanatic about Inquiries, so I will wait until December for that application, then I would have (if these are all approved) 4 cards, which would be enough until graduation.

Re: Where to go from here?

ngerasimatos — Wed, 09 Jun 2010 21:42:32 GMT

What bureau did Citi pull for that Forward card and what was the score at the time?

Re: Where to go from here?

smc733 — Wed, 09 Jun 2010 21:50:25 GMT

Citi pulled Equifax which was 681 at the time.

For the Amex, they pulled Expirian which was 685, and chase has pulled my TransUnion, 681 for the +1 Student MasterCard.

Re: Where to go from here?

Anonymous — Thu, 10 Jun 2010 00:04:35 GMT

@smc733 wrote:
Thanks for replying. I kind of figured that after I applied, as I'm reading if you don't have a lengthy history, they tend to prefer you with a charge card. I've heard of people even being denied Blue and getting the Gold!

Thanks.

There is less risk involved with a charge card over a credit card for Amex, which is why they're stricter with revolving credit approvals. Since the terms on a charge card is only a month its easier for them to spot a troubled account.

The recon for a Zync was a good idea. You'll probably be approved for the Zync, since you're exactly what they're looking for, a college student who has a clean report with limited history. If you get approved, build up a history for a few years then apply for one of their revolving cards.

Re: Where to go from here?

smc733 — Thu, 10 Jun 2010 02:04:57 GMT

Thanks for the insight. That seems to make a lot of sense, and I'm just hoping to get in with AmEx so I can begin to establish that reputation with them. The more and more I read about the Zync and charge cards, the benefits can be worth it, so I'm not as opposed to this card as I initially thought, either.

I hope this recon works, and I'll definitely let you guys know how it turns out (as well as the Chase +1 card).

Re: Where to go from here?

smc733 — Thu, 10 Jun 2010 16:36:52 GMT

Unbelivable, Chase denied me their student Mastercard, probably because they pulled my transunion which has 5 inquiries from transferring colleges. I'm debating a recon , but if I get the Zync Im not even going to worry about it.

Re: Where to go from here?

smc733 — Thu, 10 Jun 2010 20:39:30 GMT

Sorry to tripple-post, but I just called Chase

-Too little credit history

-Too many inquiries on my TransUnion (due to my PNC solution loan), I should have known that it was a lost cause the minute privacyassist told me they pulled TU.

Hopefully the Zync recon will go through and then I'll be done applying for a while. Two cards ought to be enough to get through college, though I may jump at a Discover down the road.

Re: Where to go from here?

smc733 — Thu, 10 Jun 2010 22:27:42 GMT

Gah! They cancelled the recon because of the way it was submitted. Does anyone have a good backdoor number to call?

Re: Where to go from here?

ngerasimatos — Thu, 10 Jun 2010 22:29:57 GMT

888-245-0625

Re: Where to go from here?

smc733 — Thu, 10 Jun 2010 22:47:39 GMT

Now they tell me because of the new law I can't complete an application over the phone... What a nightmare.

What do I do now?

Re: Where to go from here?

ngerasimatos — Thu, 10 Jun 2010 22:50:13 GMT

Wait, the said no recon cause of the way it was submitted? Please explain.