Approved for my first CC ever!!! (BCE) Yet have some questions...

[KSK1912]

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@Anonymous wrote:

Thanks everyonne for the welcome and the replies. I'm glad to get multiple perspectives on my question of applying for the second card. I figured it would be safer to apply with this second card since I was already pre-approved and they sent me a mailer with a code on it. I don't have any issues waiting six months but age of my credit is also a good point of view. Would I be more likely to be approved for another card with six months of the BCE under might belt or would it harm me that I only have the bce and a lease? I also had that question as I know Amex in 61 days I can ask for a CLI, so having two cards with 1000 CL increase to 3000 in two months would really help my credit, right? I'm just a bit worried that a second card application will drop my score hard as the CB's might think I'm desperate for credit when I'm not.

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How many inquiries do you have total on each bureau do you know? Just to give you an idea, mine is 7 ex 7 tu 24 eq

[Anonymous]

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@KSK1912 wrote:

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@Anonymous wrote:

Thanks everyonne for the welcome and the replies. I'm glad to get multiple perspectives on my question of applying for the second card. I figured it would be safer to apply with this second card since I was already pre-approved and they sent me a mailer with a code on it. I don't have any issues waiting six months but age of my credit is also a good point of view. Would I be more likely to be approved for another card with six months of the BCE under might belt or would it harm me that I only have the bce and a lease? I also had that question as I know Amex in 61 days I can ask for a CLI, so having two cards with 1000 CL increase to 3000 in two months would really help my credit, right? I'm just a bit worried that a second card application will drop my score hard as the CB's might think I'm desperate for credit when I'm not.

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How many inquiries do you have total on each bureau do you know? Just to give you an idea, mine is 7 ex 7 tu 24 eq

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Well honestly according to CK and that is the only place I have seen them I(a man,lol) have none on TU, 3 probably 4 now with the BCE on Eq and I have no idea on Ex, also I just checked and I was still pre-qualified for the ED, I can call in and see if my rsvp code still quailifies. If that helps. Honestly all I know about my credit is from CK which probably isn't the best. I'm going to get a CR from exp since they have to give me a free one with this cc.

Also the everday would be fine by me I am going to use it for gas/food things of that nature and it's basically like the bce just the rewards aren't as good. Plus its been over 3 years since I've gotten a mailer asking me to apply for a CC. So I didn't want to miss out but waiting six months wouldn't really be a bad thing.

[Anonymous]

As a temporary measure you can also sign up for Credit.com as they give you an EXP credit report, albeit a very limited, summary-style report (for example they only tell you total inquiries in the past 6/12/24 months instead of listing each inquiry, who made it, and when it was made the way CK does).

The ED is best optimized if you can meet the 20 swipes/month threshold.  From what I've seen most people really only use it as a place to stockpile MR points from other charge cards (i.e. PRG or Platinum), which is why I don't see this as a great card for you, especially since you've already got the BCE.  Did you get a chance to check CapOne's prequal?

[KSK1912]

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@Anonymous wrote:

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@KSK1912 wrote:

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@Anonymous wrote:

Thanks everyonne for the welcome and the replies. I'm glad to get multiple perspectives on my question of applying for the second card. I figured it would be safer to apply with this second card since I was already pre-approved and they sent me a mailer with a code on it. I don't have any issues waiting six months but age of my credit is also a good point of view. Would I be more likely to be approved for another card with six months of the BCE under might belt or would it harm me that I only have the bce and a lease? I also had that question as I know Amex in 61 days I can ask for a CLI, so having two cards with 1000 CL increase to 3000 in two months would really help my credit, right? I'm just a bit worried that a second card application will drop my score hard as the CB's might think I'm desperate for credit when I'm not.

---

How many inquiries do you have total on each bureau do you know? Just to give you an idea, mine is 7 ex 7 tu 24 eq

---

Well honestly according to CK and that is the only place I have seen them I(a man,lol) have none on TU, 3 probably 4 now with the BCE on Eq and I have no idea on Ex, also I just checked and I was still pre-qualified for the ED, I can call in and see if my rsvp code still quailifies. If that helps. Honestly all I know about my credit is from CK which probably isn't the best. I'm going to get a CR from exp since they have to give me a free one with this cc.

Also the everday would be fine by me I am going to use it for gas/food things of that nature and it's basically like the bce just the rewards aren't as good. Plus its been over 3 years since I've gotten a mailer asking me to apply for a CC. So I didn't want to miss out but waiting six months wouldn't really be a bad thing.

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Those inq's are nowhere near where you should ne too worried about. All starters, or rebuilders end up with several inquiries at the beginning. Along with the age of account, your inq's take 2 years to fall off. So if you add one now, they will fall off together at the end of the period. If you wait then it will be that much longer for the last one to fall off. You can just try the pre qualify on amex's website. If you are getting the same card as the one sent to you, then you will be good to go. Unless you have a very dramatic change in your credit report, which i don't see how it would have happened with you having no accounts, and minimal inq's, you will get the same response now as you would if you would have applied for the pre approved card before the first one. And in your case, the most an inq will take off of your credit score is maybe 5 points. But right now you are trying to start a credit journey. Just like when i started rebuilding my credit about 4 months ago. At the time, the credit score was not my first priority, it was being able to add some accounts, so that in time, my score grows up. So i will take a 5 point dip to get 20 points back a month later or so.

Beginning of may, my scores were low low 500's. Right now, experian 690, and TU and EQ is around 670. And i added a total of 25/30 accounts, with 20 inquiries on EQ and a little less on EX and TU.

[Anonymous]

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@Anonymous wrote:

As a temporary measure you can also sign up for Credit.com as they give you an EXP credit report, albeit a very limited, summary-style report (for example they only tell you total inquiries in the past 6/12/24 months instead of listing each inquiry, who made it, and when it was made the way CK does).

The ED is best optimized if you can meet the 20 swipes/month threshold.  From what I've seen most people really only use it as a place to stockpile MR points from other charge cards (i.e. PRG or Platinum), which is why I don't see this as a great card for you, especially since you've already got the BCE.  Did you get a chance to check CapOne's prequal?

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Ok so I tried capital one and got this message " we couldn't match your records to a card offer. But based on your answers, we think you might like this card." then shows a platinum card. Below that it says "We also suggest:" then it lists the quicksilver one rewards which shows their offer "0% intro APR until June 2016; 22.9% variable APR after that" not sure if that is true since they said they couldn't find my records. Also not sure if this is relavant but according to CK my age of credit history is 28 years on both Tu and EQ not sure if that's the same as AAoA.

[Anonymous]

Congratulations!

[Country_Feller]

Congratulations!!!!!!!!

[Anonymous]

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@Anonymous wrote:

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@Anonymous wrote:

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Ok so I tried capital one and got this message " we couldn't match your records to a card offer. But based on your answers, we think you might like this card." then shows a platinum card. Below that it says "We also suggest:" then it lists the quicksilver one rewards which shows their offer "0% intro APR until June 2016; 22.9% variable APR after that" not sure if that is true since they said they couldn't find my records. Also not sure if this is relavant but according to CK my age of credit history is 28 years on both Tu and EQ not sure if that's the same as AAoA.

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 28 years!  And you're only 31...did your parents add you as AU after you were born?  Otherwise that seems suspiciously high...

For Capital One, the general rule of thumb is that if you see a set APR then chances are good that you'll get approved.

[Anonymous]

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@Anonymous wrote:

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@Anonymous wrote:

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@Anonymous wrote:

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Ok so I tried capital one and got this message " we couldn't match your records to a card offer. But based on your answers, we think you might like this card." then shows a platinum card. Below that it says "We also suggest:" then it lists the quicksilver one rewards which shows their offer "0% intro APR until June 2016; 22.9% variable APR after that" not sure if that is true since they said they couldn't find my records. Also not sure if this is relavant but according to CK my age of credit history is 28 years on both Tu and EQ not sure if that's the same as AAoA.

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 28 years!  And you're only 31...did your parents add you as AU after you were born?  Otherwise that seems suspiciously high...

For Capital One, the general rule of thumb is that if you see a set APR then chances are good that you'll get approved.

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Ya that is the odd thing my earliest AU was with macy's card and that was when I was 7. I was AU'ed on all their other cc when I was in hs so 17 yrs old, but even so does that even count for AAoA? That cap one kinda threw me one, wasn't sure if I was preapproved since they gave me that odd message. Also what about the Barclaycard Rewards MasterCard? That looks alot more inline with what I would use the card for and also doesn't have any yearly fee's.

[KSK1912]

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@Anonymous wrote:

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@Anonymous wrote:

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@Anonymous wrote:

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@Anonymous wrote:

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Ok so I tried capital one and got this message " we couldn't match your records to a card offer. But based on your answers, we think you might like this card." then shows a platinum card. Below that it says "We also suggest:" then it lists the quicksilver one rewards which shows their offer "0% intro APR until June 2016; 22.9% variable APR after that" not sure if that is true since they said they couldn't find my records. Also not sure if this is relavant but according to CK my age of credit history is 28 years on both Tu and EQ not sure if that's the same as AAoA.

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 28 years!  And you're only 31...did your parents add you as AU after you were born?  Otherwise that seems suspiciously high...

For Capital One, the general rule of thumb is that if you see a set APR then chances are good that you'll get approved.

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Ya that is the odd thing my earliest AU was with macy's card and that was when I was 7. I was AU'ed on all their other cc when I was in hs so 17 yrs old, but even so does that even count for AAoA? That cap one kinda threw me one, wasn't sure if I was preapproved since they gave me that odd message. Also what about the Barclaycard Rewards MasterCard? That looks alot more inline with what I would use the card for and also doesn't have any yearly fee's.

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Barclay's is great. I love my card. One of the best customer services i have ever seen. If you pay $15 you will have your card in your hand in 24 hours. Fairly easier approval. I just love mine and it is one card i would recommend to anyone.