First Non-store Cards? - Update - Approvals

[efranklin23]

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@TLP wrote:

SO!

I live in New York City, and currently make 50k a year.  I currently have no credit cards that aren't store cards. I'd like to get a rewards points card, since I will be using it/them for all purchases that I don't HAVE to use cash for (since I currently work under that schema with my debit card).  My two preferences are Amex and CitiBank, which is where I have my Savings and Checking account.  I would ideally love to have a no fee rewards card (I have no intention of carrying balances) like the ThankYou Preferred to supplement my banking points (CitiBank gives me ThankYou points for having autopay billing and direct deposit), and an Amex charge card that would be used for the bulk of spending (everywhere it is accepted).  Through this, I'd be gaining points form the Amex for everyday things from starbucks to lunch, and through a ThankYou card with no annual fee I'd catch any lost points from places that don't accept Amex.

History:

I had a Citi card linked through my father while I was in college that was opened in 2006, and closed in 2011 with a limit of $1000 around the time I graduated.  In the beginning of 2012 (might even have been end of 2011) I applied for an Amex Zync and was denied - I don't recall the reasons, but I suspect it was largely due to having no active accounts and $0 income.  Anyway, I ended up with their Amex prepaid card which I almost never used, and still have with a balance of $3.43.  I abandoned the idea of getting a card since I had no income to pay it with until September of 2012, recently employed, when I opened an Amazon.com Store Card.  I figured anything I wanted online I would be able to find through Amazon. The card had its limit increased very quickly to $1900.  I started renting my own apartment in March 2013, got a hard inquiry there, and then when I bought my mattress from Sleepy's I financed it without realizing this would mean I now had a Sleepy's credit card - the most useless of all store cards..ever...with a limit of 3k.   I received an Amex pre-screened letter in the mail a few days later for the Green Card, and got a little greedy and applied instead for the PRG card.  Denied.  Applied for Green, Denied.  Went to CitiBank.com and applied for the ThankYou.  Denied.  My credit scores were TU 784/EX 733/EQ 643. I didnt realize that I had just applied while having 2 very young accounts.  It was also worth noting that EQ wasnt reporting my old closed CitiCard.

Anyway, its been almost a full year since my failed applications (1 yr mark will be March 27th) and I'd like to give it a second shot, but figured I would try and get the opinions of some more educated minds on credit and credit cards.  I JUST had my Amazon store card increased to a limit of 2500k today, and have a TU score of 743.  I went thorugh the free trial on Experian.com to get my $0.99 Plus Score FAKO, which as of last friday was 750.  My amazon store card has a balance of $1018 since I took advantage of the 0% financing on a large purchase.  I will be waiting until next month to pull my full set of 3 FICO scores from myFICO.com after I've paid the balance of my Amazon.com card to $450 and the credit limit increase has had time to be reflected in the next bill (and in scoring on FICO).

Experian showed that I have 4 hard inquiries on my account from last march still (Citi, Amex, Sleepy's, tenant screening), with an average account age of 3 years.  I have never been late on a payment.

Transunion, as of December 20th, shows 0 hard inquiries, with an average age of 3 as well. 

My calculated utilization of this moment is about 18%.

What should my approach be and what do you guys think my chances are?  I'm very afraid of getting denied again and ending up with 6 inquiries on my EX.  If you all have thoughts on other card ideas feel free to share them.  I know that both my parents have excellent long standing relationships with Amex and recommend it (it also has a certain attraction to it, although many might disagree; my girlfriend's father calls them American Excess cards.), and I can obviously see the logic in having a card through my own bank.

Please forgive the essay.

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I say open up an account at a credit union and open up a account with them ($5 for member share savings usually) and request a card through to build up and then about  6months later app for the AMEX and Citi. You're being dneied as AMEX has no strong history history on your end. CUs are more understanding to your case and are more likely to help in your case. 

[TLP]

Just thought I'd update since I know I'm not the only person with little credit and short history.

Checked my scores as of today on Myfico and they are 767 for TU and 735 for Ex, with AAoA varying between 1 and 3 years, and utilization >5% on my Amazon Store Card.

I physically went into my local CitiBank branch today to ask about cards and see what they could offer me since I bank there, and the woman said I'd likely be approved for any card I wanted (sounds unlikely) since she saw pre-approvals for various personal loans there.  I had recently decided the Dividend Card might be better for me based on online info, but after she talked up the ThankYou Preferred card, and said the Dividend card isnt available "in-branch", we applied.  Instant approval for 5K! 

Feeling VERY good about it, I app'd for the Amex Everyday card online about 20 minutes later - Instant approval for 2.5k!

The reports that came with the cards showed Citi pulled EQ - which showed 707, and Amex pulled EX - which showed 733.

Definitely on a good kick right now.

[-Wade-]

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@TLP wrote:

Just thought I'd update since I know I'm not the only person with little credit and short history.

Checked my scores as of today on Myfico and they are 767 for TU and 735 for Ex, with AAoA varying between 1 and 3 years, and utilization >5% on my Amazon Store Card.

I physically went into my local CitiBank branch today to ask about cards and see what they could offer me since I bank there, and the woman said I'd likely be approved for any card I wanted (sounds unlikely) since she saw pre-approvals for various personal loans there.  I had recently decided the Dividend Card might be better for me based on online info, but after she talked up the ThankYou Preferred card, and said the Dividend card isnt available "in-branch", we applied.  Instant approval for 5K! 

Feeling VERY good about it, I app'd for the Amex Everyday card online about 20 minutes later - Instant approval for 2.5k!

The reports that came with the cards showed Citi pulled EQ - which showed 707, and Amex pulled EX - which showed 733.

Definitely on a good kick right now.

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Congrats on your approvals WTG

[gdale6]

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@TLP wrote:

Just thought I'd update since I know I'm not the only person with little credit and short history.

Checked my scores as of today on Myfico and they are 767 for TU and 735 for Ex, with AAoA varying between 1 and 3 years, and utilization >5% on my Amazon Store Card.

I physically went into my local CitiBank branch today to ask about cards and see what they could offer me since I bank there, and the woman said I'd likely be approved for any card I wanted (sounds unlikely) since she saw pre-approvals for various personal loans there.  I had recently decided the Dividend Card might be better for me based on online info, but after she talked up the ThankYou Preferred card, and said the Dividend card isnt available "in-branch", we applied.  Instant approval for 5K! 

Feeling VERY good about it, I app'd for the Amex Everyday card online about 20 minutes later - Instant approval for 2.5k!

The reports that came with the cards showed Citi pulled EQ - which showed 707, and Amex pulled EX - which showed 733.

Definitely on a good kick right now.

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Nice, enjoy

[coldnmn]

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@TLP wrote:

Just thought I'd update since I know I'm not the only person with little credit and short history.

Checked my scores as of today on Myfico and they are 767 for TU and 735 for Ex, with AAoA varying between 1 and 3 years, and utilization >5% on my Amazon Store Card.

I physically went into my local CitiBank branch today to ask about cards and see what they could offer me since I bank there, and the woman said I'd likely be approved for any card I wanted (sounds unlikely) since she saw pre-approvals for various personal loans there.  I had recently decided the Dividend Card might be better for me based on online info, but after she talked up the ThankYou Preferred card, and said the Dividend card isnt available "in-branch", we applied.  Instant approval for 5K! 

Feeling VERY good about it, I app'd for the Amex Everyday card online about 20 minutes later - Instant approval for 2.5k!

The reports that came with the cards showed Citi pulled EQ - which showed 707, and Amex pulled EX - which showed 733.

Definitely on a good kick right now.

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Congrats! Thanks for the update.

[alvon123]

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@TLP wrote:

Just thought I'd update since I know I'm not the only person with little credit and short history.

Checked my scores as of today on Myfico and they are 767 for TU and 735 for Ex, with AAoA varying between 1 and 3 years, and utilization >5% on my Amazon Store Card.

I physically went into my local CitiBank branch today to ask about cards and see what they could offer me since I bank there, and the woman said I'd likely be approved for any card I wanted (sounds unlikely) since she saw pre-approvals for various personal loans there.  I had recently decided the Dividend Card might be better for me based on online info, but after she talked up the ThankYou Preferred card, and said the Dividend card isnt available "in-branch", we applied.  Instant approval for 5K! 

Feeling VERY good about it, I app'd for the Amex Everyday card online about 20 minutes later - Instant approval for 2.5k!

The reports that came with the cards showed Citi pulled EQ - which showed 707, and Amex pulled EX - which showed 733.

Definitely on a good kick right now.

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congrats