topic Re: AMEX and Chase app in Credit Cards

AMEX and Chase app

Anonymous — Mon, 11 Nov 2013 03:31:07 GMT

Thinking of applying for AMEX Blue and Chase Freedom. EQ 745, EX 739, Tu 757 100k income. Have 8 Cc's but only 2 year history after none for five years after divorce. All balances zero or very low. Have 8 HP but half are for business credit. Waiting until next month when two HP's fall off. Highest CL is 3500 so looking for something with a higher limit. Chase sounds to be fairly generous right now but don't want the HP to hurt my chances on the AMEX. Any advice?

Re: AMEX and Chase app

myjourney — Mon, 11 Nov 2013 03:39:08 GMT

Welcome to the forum

What other cards do you have and are those Fico scores?

Re: AMEX and Chase app

Anonymous — Mon, 11 Nov 2013 03:49:55 GMT

Yes FICO scores. Have BofA cash rewards, Citi diamond preferred, US Bank 123, Discover More, Cap 1 quicksilver, a couple gas cards and a Sears card.

Re: AMEX and Chase app

myjourney — Mon, 11 Nov 2013 15:48:49 GMT

@Anonymous wrote:
Yes FICO scores. Have BofA cash rewards, Citi diamond preferred, US Bank 123, Discover More, Cap 1 quicksilver, a couple gas cards and a Sears card.

With your scores, cards, and history IMHO

I think you'll be approved for both

The only problem Chase can be INQ sensitive but recon is great with them and your INQ's can be explained easily as business related

Good luck should you app

Re: AMEX and Chase app

Anonymous — Mon, 11 Nov 2013 16:12:37 GMT

@myjourney wrote:
@Anonymous wrote:
Yes FICO scores. Have BofA cash rewards, Citi diamond preferred, US Bank 123, Discover More, Cap 1 quicksilver, a couple gas cards and a Sears card.
With your scores, cards, and history IMHO
I think you'll be approved for both
The only problem Chase can be INQ sensitive but recon is great with them and your INQ's can be explained easily as business related
Good luck should you app

Re: AMEX and Chase app

myjourney — Mon, 11 Nov 2013 16:17:48 GMT

Also I just noticed you have a Discover More card do a PC to Discover IT for better rewards structure 5% categories

Re: AMEX and Chase app

unc0mm0n1 — Mon, 11 Nov 2013 17:34:18 GMT

@myjourney wrote:
Welcome to the forum
What other cards do you have and are those Fico scores?

Does Chase use Fico scores? I thought they had their internal scoring system. Every score is a fako if it isn't used by the lender.

Re: AMEX and Chase app

09Lexie — Mon, 11 Nov 2013 18:35:52 GMT

Yes, Chase does have an internal scoring system like most lenders. I would assume it is based on FICO plus their own proprietary enhancements, ie AU being discounted

Re: AMEX and Chase app

rlx01 — Mon, 11 Nov 2013 19:51:49 GMT

How many HP in the last 6 months?

If it was me (and it was... a year ago I would app for Amex PRG + whichever Amex revolver you want a minute after that (if PRG approved). PRG is free for the first year, and Amex backdates... So...

If you get denied for the revolver (SP), you should build some history with the PRG and app again in January.

Then app for Chase (check their pre-qualifier site first to get a feel for where you place with them -- are you seeing a low APR on the Freedom? Is the CSP offered? etc).

I would personally app for AMEX first, 3x CLI @ 61 days, wait for the CL to report and then app for Chase. They'll match your highest CL + $500-$2000.

YMMV, etc, etc. Chase have recently dropped their underwriting requirements for the CSP, so now's probably a good time to app.

@09Lexie: Perhaps Chase disregards AU accounts for scoring purposes. But they did a CL match for me even though my highest CL was an AU account (and they topped it by $2000). So... YMMV as usual.

Re: AMEX and Chase app

myjourney — Mon, 11 Nov 2013 19:54:30 GMT

@09Lexie wrote:
Yes, Chase does have an internal scoring system like most lenders. I would assume it is based on FICO plus their own proprietary enhancements, ie AU being discounted

Re: AMEX and Chase app

Anonymous — Mon, 11 Nov 2013 21:02:47 GMT

Myjourney, thanks for the tip on the discover PC. I will try it and report back. Thanks to all for the advice. I will wait until the two HP,s drop off next month and app the AMEX x 2. Then do the 3x CL in 61 days. Then go for the Chase. Then over to the garden for some rehab. Great advice from all.
Thanks

Re: AMEX and Chase app

myjourney — Mon, 11 Nov 2013 21:06:11 GMT

@Anonymous wrote:
Myjourney, thanks for the tip on the discover PC. I will try it and report back. Thanks to all for the advice. I will wait until the two HP,s drop off next month and app the AMEX x 2. Then do the 3x CL in 61 days. Then go for the Chase. Then over to the garden for some rehab. Great advice from all.
Thanks

Glad to help

Good luck on your apps but i'm pretty sure you'll do just fine and be approved for both

Re: AMEX and Chase app

Anonymous — Tue, 12 Nov 2013 02:11:16 GMT

Need info on the PC from Discover More to IT. Will this require a HP? Will wait until after above to do this if it does. Thanks

Re: AMEX and Chase app

Anonymous — Tue, 12 Nov 2013 02:14:17 GMT

There's no HP to PC the discover card. Just call the number on back of card and the process will take less than 3minutes.