topic Re: My details= Amex Platinum + a City credit card? in Understanding FICO® Scoring

My details= Amex Platinum + a City credit card?

maceto — Tue, 24 Jul 2012 01:34:35 GMT

FICO:

TU= 702

EQ=687

Background TU reports 3 credit cards, 2 where I am an authorized user. Currently taking a small hit as main card holder blew 10K on furniture for his new house, but that will all be paid off when due, so should help quite a bit.

Credit limits:

Amex 22K

City 39K

Comerica 2K

EQ only reports the Comerica ( don't ask, what I could easily get) with a credit limit of 2K

TU reports on all cards.

Seems every single one has pulled a credit check on me..., again discrepancies between TU and EQ, as not reporting the total which seems to be 6 ( 2 will fall off the 12 months in a few days) which is good. Mercedes pulled one, Charles Schwab pulled one, At&T pulled one you get the idea...

I make 135K a year, have close to 14K savings and I know this counts for something.

Any thoughts on applying for an Amex and a city AA card? Once I get these two, I don't care about the short term hit of scores as I will build that up in no-time, I am set. Well the SPG Amex will also come but I can't over shoot yet. Research what my best mix in terms of benefit is. Travel gives more than cashbook., but flyertalk forums have pages of this.

I just need to have my own cards vs. using my friends credit and once I have these I will actually drop the Comerica card as crap ( everything about it, yes know will hurt me). But I should keep the backdate on Amex ( authorized user now, but hope they just move the join date across)

This is what happens when you move to a new part of the world.. You can have money, be responsible but you"ll satrt out with very low credit. Saying that these numbers are just based on 7 months of data..

so wait a few weeks as scores should go up a few points, or am I still way off- apply for a City card now ( should be able to get that or?) then to wait another 2-3 months for the Amex?

Any thoughts on the best road ahead for me here? really appricate any help!

Best

Tom

Re: My details= Amex Platinum + a City credit card?

AndySoCal — Tue, 24 Jul 2012 02:30:40 GMT

How long have you had the Coamerica card?

Re: My details= Amex Platinum + a City credit card?

maceto — Tue, 24 Jul 2012 02:37:00 GMT

7 months, but I got this as unsecured from day 1, why I have this. Can't even charge my rent on it as 2K..

Re: My details= Amex Platinum + a City credit card?

AndySoCal — Wed, 25 Jul 2012 02:05:53 GMT

I would wait till you have at least a year beofre you try for Amex.

Re: My details= Amex Platinum + a City credit card?

maceto — Wed, 25 Jul 2012 03:18:04 GMT

Man.. So stay on authorized cards, increase the Comerica one and wait? What about opening any others? Comerica=no points..

Re: My details= Amex Platinum + a City credit card?

jamesdwi — Thu, 26 Jul 2012 05:42:04 GMT

@maceto wrote:
FICO:

TU= 702
EQ=687

Background TU reports 3 credit cards, 2 where I am an authorized user. Currently taking a small hit as main card holder blew 10K on furniture for his new house, but that will all be paid off when due, so should help quite a bit.

Credit limits:

Amex 22K
City 39K
Comerica 2K

EQ only reports the Comerica ( don't ask, what I could easily get) with a credit limit of 2K

TU reports on all cards.

Seems every single one has pulled a credit check on me..., again discrepancies between TU and EQ, as not reporting the total which seems to be 6 ( 2 will fall off the 12 months in a few days) which is good. Mercedes pulled one, Charles Schwab pulled one, At&T pulled one you get the idea...

I make 135K a year, have close to 14K savings and I know this counts for something.

Any thoughts on applying for an Amex and a city AA card? Once I get these two, I don't care about the short term hit of scores as I will build that up in no-time, I am set. Well the SPG Amex will also come but I can't over shoot yet. Research what my best mix in terms of benefit is. Travel gives more than cashbook., but flyertalk forums have pages of this.

I just need to have my own cards vs. using my friends credit and once I have these I will actually drop the Comerica card as crap ( everything about it, yes know will hurt me). But I should keep the backdate on Amex ( authorized user now, but hope they just move the join date across)

This is what happens when you move to a new part of the world.. You can have money, be responsible but you"ll satrt out with very low credit. Saying that these numbers are just based on 7 months of data..

so wait a few weeks as scores should go up a few points, or am I still way off- apply for a City card now ( should be able to get that or?) then to wait another 2-3 months for the Amex?

Any thoughts on the best road ahead for me here? really appricate any help!

Best

Tom

First check pre-approvals at AMEX (ask google for the page) your AU status on the card may of got them to take notice of you. If no pre-approved for anything at AMEX apply for the Zync they have been approving alot of new users, with 6 month credit history, your anual salary may also grease the credit wheel . If approved your card will be backdated to the year you beacame an AU or earlier if you had an AMEX card in the past. You should get a NPSL haven't heard of anyone with 100k+ income getting a $500 hard limit, but i could be wrong. treat the card right don't go crazy, start spending on it slow don't spend more than you make a month on the card. After you have the ZYNC for 6 months, apply for the platinum it will be a soft pull if you are declined. If approved the platinum card will also be back dated to the year you became an AU thus doing major help in your AAoA, with a little luck you may be firmly in primeville by next year.