My first post - Approved for Discover today and declined for AmEx

[Anonymous]

First off hello all, great forum and I joined this site just for the great forums and activity you guys have here, very cool!

So I am a giant newbie to this scene and am reading like a madman and trying to learn as much as I can.  I have "fair" credit of 680-695 depending on the report I look at.  I have two credit cards, Cap One Quicksilver One and Barclays Rewards for fair credit.  I have had the cap one for three years or so, recently hit the luv button for the very first time and got 3k.  Nice.  that inspired me to try for another card as I realised my credit must be better than I thought and finally started the journey of getting my scores and chosing another card to try for.  Barclays declined me, but I recon called them and they approved for 1k.  That was 91 days ago.

Today I worked up my nerve to apply again somewhere.  I have only the one pull for Barclays in 1.5 years.  Then 7 pulls the same day when I purchased a car.  Sigh. Morons.  Anyway I applied for Discover and was told I was approved online but no credit limit info yet.   Tried AmEx everyday card 90 seconds after that approval and was declined.  I called for recon and am supplsed to call again Tuesday and hear back apparently.  Odd recon, but whatever.

Now I will wait again as I'm not sure how badly those inquirys will hurt me, I have been super cautious and am learning I've been too cautous to do me any good.  Two car payments with perfect history help I suppose but they keep saying I need more payment history.  Utilization is at 7%.  I use my cards for everything buy pay them weekly to biweekly.  I'm trying to continue to build and I'm happy with the three cards I now have but was really hoping for that AmEx to round me out.  Ah well, learning as I go and maybe in several months I can try again for some other card.  My score is only going up!

According to Barclays my FICO went up 12 points today alone for some unknown reason.  Hence my applying today lol, if it drops me 12 I will not notice!

Tips or thoughts of best plan of action are all apprecatied!  Thanks all!

[Anonymous]

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@Anonymous wrote:

First off hello all, great forum and I joined this site just for the great forums and activity you guys have here, very cool!

So I am a giant newbie to this scene and am reading like a madman and trying to learn as much as I can.  I have "fair" credit of 680-695 depending on the report I look at.  I have two credit cards, Cap One Quicksilver One and Barclays Rewards for fair credit.  I have had the cap one for three years or so, recently hit the luv button for the very first time and got 3k.  Nice.  that inspired me to try for another card as I realised my credit must be better than I thought and finally started the journey of getting my scores and chosing another card to try for.  Barclays declined me, but I recon called them and they approved for 1k.  That was 91 days ago.

Today I worked up my nerve to apply again somewhere.  I have only the one pull for Barclays in 1.5 years.  Then 7 pulls the same day when I purchased a car.  Sigh. Morons.  Anyway I applied for Discover and was told I was approved online but no credit limit info yet.   Tried AmEx everyday card 90 seconds after that approval and was declined.  I called for recon and am supplsed to call again Tuesday and hear back apparently.  Odd recon, but whatever.

Now I will wait again as I'm not sure how badly those inquirys will hurt me, I have been super cautious and am learning I've been too cautous to do me any good.  Two car payments with perfect history help I suppose but they keep saying I need more payment history.  Utilization is at 7%.  I use my cards for everything buy pay them weekly to biweekly.  I'm trying to continue to build and I'm happy with the three cards I now have but was really hoping for that AmEx to round me out.  Ah well, learning as I go and maybe in several months I can try again for some other card.  My score is only going up!

According to Barclays my FICO went up 12 points today alone for some unknown reason.  Hence my applying today lol, if it drops me 12 I will not notice!

Tips or thoughts of best plan of action are all apprecatied!  Thanks all!

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Welcome to the forums and congrats on the Discover approval.  

[Anonymous]

Congratulations on the Discover, bummer on the Amex. There's always next time. 

Welcome to the group!

[Anonymous]

Thank you sir, it is apprecaited.  How long should I wait before trying any other cards at this point in general?  This will be three HPs in three months now so should I wait at least 6 months, or even longer?

Long term I'd like to get an AmEx Everyday or Bluecash but will have to wait a while for that one it appears.  At least they know I'm interested now I guess lol.  The other card that really intrests me for now is the IHG Hotel card and I have nothing at all with Chase.  Maybe try that later on?  I'm still learning and trying to figure out my best next steps to keep me going strong in the right direction.

If I can get my socre over say 710 or so in the next year I'll be happier.  That seems a reasonable goal to me.

[Anonymous]

Congrats! soon it will all be yours.

[Anonymous]

Congrats..

[NRB525]

Congratulations on getting the Discover!

Do you have your scores from MyFICO? If not Discover will provide one of the most useful FICO scores with your statements, from TU at least.

[Jerry45]

Congrats!

[Rkalynsmith]

Call discover. They will tell you what your CL is. Have you checked Chase pre approval site?

[Anonymous]

I did not get my socres here, the only look I have at my FICO right now is through my Barclays card which gives me a FICO reading.  I'm not sure how true to life that reading is but I'll soon compare it with the Discover number and see if they are the same.

I will give discover a call her in a little while to see what my CL is, even at $500 I'd be happy just to have got in with them.  I have not done the Chase preapproval thing yet, is that a truly accurate tool?  I'm assuming that is a SP - I'm not sure if it is time to garden my three for a while or if I am still okay. 

In September all my pulls from my last car purchase will drop, then I'll only have the three for the cards I have tried to get, I'm two for three so far so not feeling too bad about the wasted pull at AmEx.  I'm assuming I'll not be getting that one as I hear recons are a miniscule chance of success.