Hi folks, in the past few days I've apped for a Cap1 Venture, Chase Freedom, and SPG AmEx. Instant approval from Cap1 and Chase with a "we'll get back to you" from AmEx. Wondering if I shoud call AmEx now, wait for the inevitable denial, or let it go.
A little background - typically uneducated & undercontrolled borrower/spender prior to 2009. In rapid order, my wife quit working & went back to school, and my bank was purchased, leaving everyone in management without jobs. My credit suffered tremendously during my hiatus from the world of the employed; all credit cards and LOCs went past due & into default. I was crushed.
Since that time, the world, indeed, did not end. I settled on all of my debts, I regained empoyment, and my wife made it through school. I subsequently half-assed my way through credit rebuilding, honestly without much effort until late last year whenever my employment relocated us, and it was time to house shop once again. Everything was on-time, as agreed, etc, after my financial melltdown, but my usage was nonexistant on the few small cards that I could get approval for. Income is healty, north of $200K, DTI is low, trying to push utilizatin in the ~10% range, and a FICO around 675.
So last week, with a current debt portfolio that included our new home, a new auto purchased this summer for my wife, and a handfull of cards with about $5K in combined credit limits (highest card was ~$2K with Cap1), I decided to try and get a prime card. First, I did CLIs on my Broks Bros and Buckle cards, those were easy, appreciate the information from the forums that led me to the CLIs. Next, I saw that I was pre-selected for a Chase Freedom; apped for it and was approved for $6K. Moved on to Cap1 since they were the first to give me a card after the dust cleared from my credit destruction. Decided to swing for the fences & app for the Venture card - instant approval of $50K. Still cant believe that one. Riding that high, I figured I'd go or it and app for the card that my buddies consider the holy grail, AmEX SPG. Luck ran out with this one, no instant approval. Should I go for recon now, or wait?
Apologize, very longwinded. TLDR: credit went in the toilet, pressed on through the recovery, 2 great recent approvals, what should I do about AmEx?
Cheers
Discover IT $17k / US Bank Ace (VSig) $13.5K / US Bank Cash+ (VSig) $13.5k
