Credit Card Approval

[Anonymous]

Hi All, 

I'm looking for a bit of advice. I was recently deined for the Hilton Honors reward card. My FICO score is a 719, TU 738, Equifax 751. I have no late payments, 0 collections etc. I'm currently have a Discover It card with a 2500 limit in my name, and a joint account with my father with a local CU card with a 10k limit. My average length of account is 10 months. Currently I'm graduating in May with my B.S. Degree and currently work a part time job. I'm looking for a travel rewards card; however, with my limited history should I wait and apply for the Southwest Rewads card or try to add another pre approved card to my portfolio ? 

Thanks ! 

[joltdude]

Unless you have a relationship with Chase, they tend to like to see at least 12 months , preferably 16-18 of card history before granting a card...its the AAoA and the credit limits that are getting you... I think the HH card has a 5K minimum to open but i am not sure of that.. Might be able to get another travel card.. but I dont think the HH is in your short term future... Thinking some flavor of Venture might be obtainable or Barclay ..... but see what others reply to this thread...

Its not just your score that determines a cc.... History is what holds up the score.... Least in my mind

You can have a "weak" high score.... or a strong low score... 

[Anonymous]

Thanks for the info. I was pre approved for the Barclays arrvial plus card but not sure I want a card with an annual fee. Might just have to wait it out. 

[joltdude]

Keep it for a year and see how it goes... Youll figure out if its worth the AF...  Roughly when the AF will be due to renew will likely be a good time for a Chase card app.. as long as your not inq happy and open too many cards before that..  

Though I would try to get CLI's on the Arrival at some point.... 

-J

[trnl2016]

You should consider checking the prequalification at Capital One, as they're considered pretty generous. They have the Quicksilver which has no annual fee. Though it's not a travel rewards, it offers a decent 1.5% cash back. If you prefer a travel card, you'll find out if you prequalify for the Venture, which was mentioned above.

[Anonymous]

Thanks for the advice. I'm pretty satisfied with my discover card for a rewards card. I will look into the venture and Barclays card further. One of my biggest issues is my average income is pretty low due to only working part time. However, I keep my CU very low, never carry a balance , and always pay on time. 

[dragontears]

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@Anonymous wrote:

Thanks for the info. I was pre approved for the Barclays arrvial plus card but not sure I want a card with an annual fee. Might just have to wait it out. 

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Just as an FYI most good travel cards will come with an annual fee, there are a few exceptions. You need to run the numbers based off of your spend to determine if a straight 1.5% or 2% cash back card would be more beneficial to you than a good travel card with an AF especially if your income/spend is low at this point.

[Anonymous]

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@Anonymous wrote:

Thanks for the info. I was pre approved for the Barclays arrvial plus card but not sure I want a card with an annual fee. Might just have to wait it out. 

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I was researching Travel Reward Cards earlier today and the usual, heavy hitters came up....annual fees included.

One that doesn't have an annual fee is the Travel Siggy Rewards from BofA. Read on it....I have it and those points pile up fast.