Approved for CM with thin file !

[Chelow]

Hey all, Just wanted to share in hope it helps anybody with short/Thin history/file.

Was instantly approved for cash magnet: 6k SL and 4.5K balance transfer. 

I only had 2 Revolving Accounts on my report. Super Clean report, 100% payment, No baddies at all. New to the game.

Cap 1 secured : $1151 CL - Dropped $700 in deposit. Started at $851CL got an Auto CLI 5Months in.

Chase FU : $4000 CL Opened beginning of October ( i think the only reason i got this is because i have relationship with chase. Checking and Savings ) 

AAoA: 8 months 

Oldest account : 1 Year ( Super Newbie, I know. LOL )

UTL: 1%

Inquiries : EX - 3 / EQ - 1 / TU 1  ( Last inquire october 10th, Chase )

MyFico8 scores : EX 734 / EQ 747 / TU 732

Income : $70.000,00

Hope this helps, encourage, inform ! 

[chhull00]

Congratulations on your approval and nice sl, welcome to the magnet club

[Anonymous]

---

@Chelow wrote:

... Hope this helps, encourage, inform ! 

---

It does both of those things. Thank you. And Congratulations! on your 6K Amex approval. 

[Anonymous]

Congrats on your approval and Welcome to AMex family !!!

[Anonymous]

Congratulations no doubt. I was following your thread previously and Considering you’re new and the questions you were asking, I would go ahead and add more accounts now, I would get that preapproved Discover now, that way all these cards could age together and weigh on the older end to balance any accounts you will get in the future.

[Chelow]

Hey @Birdman7,

Thank you for your suggestion. I will for sure consider it. All in all, i believe i won't have more than 5 Accounts total, for the forseeable future,(5+years). Easier said than done. I know. (The fast fingers beg to differ tho. LOL) I'll keep the Forums posted if i take any other action. 

If anything, i won't hesitate to ask.

Thanks again for your input. 

[Anonymous]

Woohoo! Congrats on the CM! That's on my list of wants.

[Anonymous]

Whether you wait five years or 20 years, remember one of the factors considered in your scores is average age of accounts so if you have several that are at the beginning of your file then five or 20 years from now a few accounts aren’t going to lessen your average age of accounts by very much but if you wait until then there’s not much you can do about it. Good luck to you

[AverageJoesCredit]

Very nice pickup Great looking card

[HeavenOhio]

Congratulations, @Chelow.

You'll want to log into your AMEX account and set up your payment account as soon as possible. There'll be some payment restrictions within the first 30 days of setting up the payment account. Getting it set up now ensures that they'll be lifted well before your first due date. With a 6k limit, these restrictions shouldn't cause a problem for you.

In 61 days, you'll want to request a credit limit increase (CLI) to 18k. Check out the first few pages and the last few pages of The Definitive Amex 3X CLI Guide.

Don't apply for another card for six months. But when you hit that point, definitely feel free to apply. Six months after that, feel free to apply again. That would potentially give you five cards in the first 25 months of card history, with four of them being keepers.