Timeline for CLI request and Second CC application

[myjourney]

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@Anonymous wrote:

@myjourney

Appreciate your inputs. Is there any specific reason that should wait 15 months to apply for Amex?  I read somewhere that it is possible to apply for Amex Charge Card and CC toegether. Do you know if there exisits an option like this?

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Yes apply for both cards at the same time around the 15 month mark....reason I suggested 15 months is you'll be across the year mark of CC history which Amex seems to like

Some have been lucky with less YMMV 

And for data points I have been approved twice for 2 Amex cards 

Both times app'ed same day....all were approved and each time 1 HP for 2 cards 

[myjourney]

And were are my manners ....Welcome to the forum 

[Anonymous]

Thanks a lot

[newhis]

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@Anonymous wrote:

Hello folks,

I am noob to the CC game in USA. However, I have been using CCs in my home country and have solid credit score and good CLIS (the oldest account is 5x the initial CL). I recently got approved for the Discover It student (CL 1250). Will be graduating this december. My goal is acheive a great FICO score (730+) in next 6 -12 months. I am planning to keep the ultization close 9% and pay pay off the balance every month. After reading a lot of posts on this forum, I have come up with a time line on applying for CLI and next credit card.

Timline for next app and CLI

• First 6 months - No hard enquiries, Pay off balance every month, utlization < 9%
• 7th month - Request CLI with Discover, apply for amzn store card
• 9-10 month - Apply for chase freedom (only iff FICO > 730 and approved by pre qualification)
• 12th month - apply for Amex BCE and/or Charge card (Amex Green)

Does this timeline sound realisitic ? Do you guys have any more suggestions on acheiving my goals. I applied for Cap one student jounery and got declined , resulted in three hard inquiries to all 3 beuraus. How long should I wait till my second app to minimize the damage done by this app?

Regards,

Jerry

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I got BofA secured card and Discover (03/14) with $1,000 each, new to USA credit and the only thing on my reports were Cap1 INQ few weeks before (didn't know about the 3 pull or myFICO forums back then). I said will never apply for Cap1 again. At 6 month I got my first TU FICO on my Discover card, it was 731. At 7 month I got pre approval from Amex and got the PRG with 50K bonus, also a SP CLI with Discover to 2.5k, asked to unsecure BofA and got a CLI to 2K (HP). Then Jcrew, Freedom, ED and a few days ago Venture (I know, I know) with 15K and 12.9%

I regret not getting my ED the same day than the PRG. I waited until January for the 'backdate' that it doesn't exist anymore.

So my recomendation:

• enroll to the double cash back after 12 months with Discover, I think your card is not enrolled because you applied before June 1st right?
• go to BofA branch, open a savings account ($300 minimum) and apply for the cash rewards card. If they deny they should offer the cash rewards secured card, if not, you ask for it. Put at least $1,000 on it if you can
• wait 6 months until you get your TU FICO on your Discover, it should be 720-740, ask for CLI at least once a month after your 3rd statement, only go for SP CLI, cancel any HP.
• check amex prequal site, visit it once a week until you get the PRG offer, apply for PRG and BCE, once you get the BCE ask for 3x CLI, if denied wait 90 days and try again, if approved wait 180 days and try again for 3x
• if you have extra money to put into your BofA card over 5k do it (will be TU HP, you can have up to 10k secured card, I know that online say 4,900) then ask for Visa Signature card, then wait until they auto unsecure the card
• wait until you are 1 year with your Discover card, apply for Freedom if you want, Sallie Mae or any other card (or cards) that you want. You will get better limits and lower APRs

Good luck

[Anonymous]

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I got BofA secured card and Discover (03/14) with $1,000 each, new to USA credit and the only thing on my reports were Cap1 INQ few weeks before (didn't know about the 3 pull or myFICO forums back then). I said will never apply for Cap1 again. At 6 month I got my first TU FICO on my Discover card, it was 731. At 7 month I got pre approval from Amex and got the PRG with 50K bonus, also a SP CLI with Discover to 2.5k, asked to unsecure BofA and got a CLI to 2K (HP). Then Jcrew, Freedom, ED and a few days ago Venture (I know, I know) with 15K and 12.9%

I regret not getting my ED the same day than the PRG. I waited until January for the 'backdate' that it doesn't exist anymore.

So my recomendation:

• enroll to the double cash back after 12 months with Discover, I think your card is not enrolled because you applied before June 1st right?
• go to BofA branch, open a savings account ($300 minimum) and apply for the cash rewards card. If they deny they should offer the cash rewards secured card, if not, you ask for it. Put at least $1,000 on it if you can
• wait 6 months until you get your TU FICO on your Discover, it should be 720-740, ask for CLI at least once a month after your 3rd statement, only go for SP CLI, cancel any HP.
• check amex prequal site, visit it once a week until you get the PRG offer, apply for PRG and BCE, once you get the BCE ask for 3x CLI, if denied wait 90 days and try again, if approved wait 180 days and try again for 3x
• if you have extra money to put into your BofA card over 5k do it (will be TU HP, you can have up to 10k secured card, I know that online say 4,900) then ask for Visa Signature card, then wait until they auto unsecure the card
• wait until you are 1 year with your Discover card, apply for Freedom if you want, Sallie Mae or any other card (or cards) that you want. You will get better limits and lower APRs

Good luck

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@new Thank you for your inputs. Any particular reason why I should wait for 12 months for chase freedom. I read somewhere that their pre-qualification is solid, so I am planning to apply around 10th month. Also, for discover CLI, did you use the online request or call them?

[newhis]

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@Anonymous wrote:

@Anonymous Thank you for your inputs. Any particular reason why I should wait for 12 months for chase freedom. I read somewhere that their pre-qualification is solid, so I am planning to apply around 10th month. Also, for discover CLI, did you use the online request or call them?

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@I got my Freedom at 8th month, got 3.5k (highest limit at that time) @ 22.99%, one month after that I got a letter from Chase offering the Freedom for 18.99%. Was not able to reduce the APR even showing the letter at the branch.

You have Discover and if you enroll to the double cash back promotion you really don't need Freedom. So I think is better to wait a few months more and get a better limit/better APR.

Yes the pre-qual is solid but not 100%. If the pre-qual gives you a good APR before 12 months go for it. I never get pre-qual with Chase. Good luck.