Approved for my first CC! I have a question and can really use some advice!

[Anonymous]

Is your Amex a charge or credit card?  If it is a credit card, what is your current credit limit?

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@Anonymous wrote:

Hey everyone, I have a quick question about applying for a Chase credit card. The Sapphire Reserve to be specific. Is 1 year of creidt history with no late payments and a mid 700s fico score good enough to get approved for that card? I have one card right now from amex and wont have any late payments or anything. My income is 120k a year. The only problem is 1 year of credit history. Does anyone have any advice or experience with what im looking for? Thanks!

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[FinStar]

Do you currently have any Chase relationship?  Is AMEX your only tradeline?

[Anonymous]

I have a credit card from amex and it has a 1000 limit. Heres what my plan is this way you get all the facts from me lol. 

Just got approved for my first creidt card last week. Its the amex delta skymiles gold card with a 1k limit.

The only credit history I have is on my dads card as an autorized user the past 6 months. So 6 months from now I should have 1 year of credit history.

I applied for the Chase Sapphire preferred card and they told me the reason for decline was my "lack of credit history".

So I plan on spending keeping my ultilization ratio to under 30 percent and pay it off in full every month for the next 6 months. (also plan on getting a 3x increase on the amex in a few months). 

Now when oct comes ill have the 1 year of history and I want to apply for the Ritz card or Sapphire Reserve card with Chase. 

[Anonymous]

I have a checking account with Chase but thats it.

[Anonymous]

Thanks for your help! The thing im wondering about is in october I will be at 1 year credit histroy because ive had 6 months as an authorized user so far

[FinStar]

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@Anonymous wrote:

I have a checking account with Chase but thats it.

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Unfortunately, even with a year of history, the CSR may not appear to be feasible just yet given that it requires a history of managing accounts with higher credit limits (not as AU but primary) since the minimum SL is typically $10K.  Having a relationship helps in that you could always check any pre-approved offers when they become available.

[FinStar]

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@Anonymous wrote:

Thanks for your help! The thing im wondering about is in october I will be at 1 year credit histroy because ive had 6 months as an authorized user so far

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If you're looking at CSP/CSR/Ritz, Chase doesn't typically include AU account history as a basis for approval.  While it may help with your scores and building your credit profile, etc., it's not going to leverage it enough to land an approval for the cards you're interested.

[Anonymous]

How about the Ritz card? I know thats a high limit card but I heard that doesnt have the same strict application process as the high end Chase cards. Im worried about opening more cards because of that 5/24 rule. I would rather not wait 2 years for the Sapphire card.

[FinStar]

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@Anonymous wrote:

How about the Ritz card? I know thats a high limit card but I heard that doesnt have the same strict application process as the high end Chase cards. Im worried about opening more cards because of that 5/24 rule. I would rather not wait 2 years for the Sapphire card.

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Same difference, with the exception that this one doesn't fall under the 5/24 restriction.

[Anonymous]

So would you recommed trying to get a Chase card that is eaiser to get first? Im confused because two of my cousins with similar creidit history to me were instantly approved meanwhile I make 50k per year more and I wasnt. Its really frustrating so im trying to figure out exactly what Chase wants because I dont want another denied inquiry.