topic Re: Next Step? in Credit Cards

Next Step?

Spanky23 — Wed, 13 Aug 2014 22:41:48 GMT

2 credit cards. Bestbuy credit card $2000

Discover IT - $2500

$42000 in student loans

CK FAKO shows 711 score, discover it not updated yet shows 729

Always PIF, no baddies, average age of credit history is 1 year 8 months on CK

Bestbuy card is over 9 months old, discover is almost 6 months. Maybe 4 INQ, 5 at most. Do I try to pay down student loans (wouldn't be much at this point) or just apply for a Amex BCE or Chase Freedom, what are my chances?

Re: Next Step?

Closingracer99 — Wed, 13 Aug 2014 22:46:13 GMT

I would rather apply for the Amex Everyday card actually and wait on the Chase card till a year if you really want another Credit card. I would personally suggest waiting a year and then app for the Amex Everyday and Freedom. I think you'll have a better chance with Amex then Chase with an approval now though

Re: Next Step?

heyarrnold — Wed, 13 Aug 2014 22:46:25 GMT

Have you checked the pre quals?

Also, if you have access to your experian report, look at your SP's. If Amex or Chase have been SP'g you, you have a great chance!

Re: Next Step?

jamesdwi — Thu, 14 Aug 2014 02:34:25 GMT

Apply for AMEX first get your membership year locked in. Wait 3 months apply for Chase freedom, by then AMEX will be reporting and you wiil have 2 prime cards and chase will want to join the party. Garden for 6 months at least at this point, prime card lenders like time between apps when you are first starting out.

Re: Next Step?

Burned2manybridgesB4 — Thu, 14 Aug 2014 02:37:18 GMT

Chase prequalify is 99% gold IMO.

Re: Next Step?

Spanky23 — Thu, 14 Aug 2014 23:06:47 GMT

I have been pre-qualified for the freedom, though I'm KIND of hoping they go back to the $200 by time I app. I will be using only ONE HP here soon for student loans so I'm fine on inquiries (just had one fall off anyways from a student loan 2 years ago)

So AMEX is the call or Chase? Which amex should I go for BCE?

Re: Next Step?

chalupaman — Thu, 14 Aug 2014 23:15:31 GMT

Try to go for an Amex as soon as you can and get your foot in the door. The backdating priviledges will be very helpful and they might even be generous with your starting CL with them. I've found Chase harder to get cards with because they kept telling me that they strictly want to see over a year of credit history from me and that they want to see how I do with the cards that I have now.

Re: Next Step?

Burned2manybridgesB4 — Thu, 14 Aug 2014 23:13:54 GMT

Which amex sings out to you, and why?

Re: Next Step?

Spanky23 — Thu, 14 Aug 2014 23:23:43 GMT

Either BCE, Everyday, or a gold card.

BCE is nice but I already have a cash back card and if I go Freedom that'll be two. But it's a nice card

Everyday would be nice, I don't travel a lot NOW but will in a couple years, could save points up

Gold couldn't tell you why I want that honestly.

Re: Next Step?

chalupaman — Thu, 14 Aug 2014 23:28:32 GMT

@Spanky23 wrote:
Either BCE, Everyday, or a gold card.

BCE is nice but I already have a cash back card and if I go Freedom that'll be two. But it's a nice card
Everyday would be nice, I don't travel a lot NOW but will in a couple years, could save points up
Gold couldn't tell you why I want that honestly.

If you're talking about the Gold card that isn't the PRG, it's basically almost the same as the Green card except that you have to pay more in AF costs and it apparently comes with more roadside assistance stuff. Seems like the Everyday card would be a good fit for you.

Re: Next Step?

Spanky23 — Fri, 15 Aug 2014 02:21:33 GMT

Is Amex the best move then? Get a little more credit with Discover and a competitor and then let Chase join the party? I checked my one free report from EX and it showed Chase SP'ed me. That has to be good news?

Re: Next Step?

Anonymous — Fri, 15 Aug 2014 02:37:44 GMT

Amex Everyday is my suggestion!

Re: Next Step?

B335is — Fri, 15 Aug 2014 02:45:51 GMT

I would search for an Amex Charge Card (like PRG) 50k offer through creditcards. If approved, immediately (same day) app for an Amex revolver card like Everyday. Many people have been able to get both with 1 hard pull.

Jamesdwi is right, give it a few more months before you go for Chase. They seem to like 12 months of history on existing accts.