@Anonymous wrote:Situation,
She's 19 yrs old and she just financed her first car, a new 2018 with a 3.2% simple interest rate on 09/01/2018. A middle score of 663 with no primary credit cards but 4 AU Credit Cards. She got pre-approved for 3 Amex Cards. My question to the panel is should she wait until that car post to her reports or should she apply for her own credit cards?
She can apply for her own credit card.
Her score's going to go down, not up, when the car loan reports.
@Anonymous wrote:
After careful deliberation, the panel strongly feels that Amex prequals are pretty reliable (as long as it's a single APR vs a range), she is probably safe to apply for one of the 3 pre-approvals now.
+ 1 Agreed
Update, she was denied for the Amex? 
@Anonymous wrote:Update, she was denied for the Amex?
I think she should wait until she has a good record of making payments on her car loan before applying for credit cards on her own. The car loan will eventually improve her FICO scores if she makes the payments on time.
What are the reasons for denial? I would check out Discover and Cap1 as well. (Check prequals). She should be able to get into Discover (albeit, possible low limit) but it would be a start.
@Anonymous wrote:
Well that's not good, what were the reasons for denial? Were the pre-approvals single APR? Any derogs or high UTI on the AU accounts? What's her income?
I echo this... was the pre-approval a specific APR or did it say from ##% to ##%? As a range is not a very good sign of a pre-approval. Being she was most likely not a member on the Amex website (Unless I missed somewhere that she's an AU) then she wouldn't have gotten the 'NameHere, You are preapproved" message either when clicking apply under a card. Sorry to hear about the denial but would like to hear more as to why.
