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First "Real" CC Approval

Bruuzu
New Contributor

First "Real" CC Approval

I began building my credit in October 2017 when I got a Discover secured card with a security deposit of $200 making my CL also $200. Shortly after that, I made a Self Lender account to help boost my scores. After about 7-8 months, my Discover card was upgraded to unsecured and I was granted a CLI. I gardened from then until now, with my Self Lender account being paid off in November which left only my Discover card with a CL of $2,400. I had thought about applying for another but didn't focus on it until recently. I researched a lot, mostly into cash back cards since I don't travel/dine a lot (I'm 19) and I had initially wanted a card like the Chase Freedom, Unlimited, or Citi DC. I knew these cards were not the easiest to get so I started to check for any pre-qualified cards. I checked everywhere and the only offers I had were Amex. I had pre-qualifications for the gold card and the cash magnet. The AF on the gold card makes it basically useless to me at this point, so I researched into the cash magnet and saw it as a great option. I mainly didn't want to waste a HP on a denial and seeing as it's almost the same as the Unlimited (besides the UR points but I'm not getting a CSR/CSP anytime soon), I went for it. I was auto-approved with a SL of $3,800 with a 730 score and $15,000 annual income. Since I had just "graduated" my secured Discover to a unsecured card, I see this as my first real approval. I know I should probably have more than 2 accounts and I definitely want to get in with Chase so now I'm wondering when would be the best time to apply for other cards. I have no need for them right now, but for the AAoA would it be better to have new cards closer together? Rather than wait another year and bring it down even more. Currently at 1 yr, 3 mos with just my Discover.



Message 1 of 19
18 REPLIES 18
AllThingsInTime
Established Contributor

Re: First "Real" CC Approval

@Bruuzu -

 

Welcome to the myFICO forum! We're thrilled that you joined us! Smiley Very Happy

 

Super Congrats on getting your first "real" credit card with Amex!

The Cash Magnet is a terrific cash back card. It's a great choice. Smiley Very Happy

 

The short answer to your question is Yes. Since you're still relatively

new to building credit, it's best to get new cards you feel you need

as close together in time as possible so they can all age together.

In addition, getting more Amex cards will result in soft pulls for

existing members like you. So it's a great win win: you can add 1 or 2

more cards and not take a hit to your excellent EX 730 score. Smiley Very Happy

 

Congrats again on your success. Please feel free

to keep us posted on your progress. Thanks for sharing! Smiley Very Happy

 

P.S. Don't forget about the Amex 3x CLI after 61 days.

Don't be surprised if your $3,800 SL becomes 10k or more.Smiley Very Happy

Message 2 of 19
Cred4All
Valued Contributor

Re: First "Real" CC Approval

Well said @AllThingsInTime.  Op, congrats on the new card!


Message 3 of 19
Priory_Man
Established Contributor

Re: First "Real" CC Approval

Congrats on the approval, Amex is a great bank to grow with.





~~ Former Royal Navy Submariner - Proud to have served ~~
Message 4 of 19
idolimage
Regular Contributor

Re: First "Real" CC Approval

Congratulations! Nice SL too!
ETFCU Auto Loan - NFCU CLOC $15k

In My Wallet:

NFCU Flagship Visa $17k
ETFCU Prim Plus MC $5k
NFCU More Rewards Amex $3k
Amex Marriot Business Bonvoy $3k
DiscoverIT $2.2
Amex Hilton Honors $1k

Dresser Wallet:

Wayfair $9k
JC Penny $6k
Walmart $3k
Zales $2.45
Belk $1.5k

Business Accounts:

Amazon Corporate $4.5k
Fuleman Fleet $1.2k
BP Business Solutions $1.2k
Staples $1k
Office Depot $1k
Quill $0.1k
Uline $0.1k

Sock Drawer:

CapOne QS1 $1.55k
Merrick Bank $1.4k
Amex Delta Blue $1k
USAA Classic Amex $0.5k
CarCare $0.5k
PayPal MC $0.3k
Target $0.3k

RIP:

Best Buy Visa $4k (AA)
Sportsman Guide Visa $2.5 (AA)
Citi AAdvantage $2.5k (AA)
Mattress Firm $1.5k (Closed for no activity)
Finger Hut $1k (Closed for no activity)
Home Depot $0.5k (AA)
Shell Gas $0.5k (AA)
CapOne Platinum $0.7k (Combined into QS1)
Credit One MC $0.45k (Closed)
Credit One Visa $0.8k (Closed)
First Premier Visa $0.7k (Closed)
Indigo $0.3k (Closed)
Avant $0.3k (Closed)
Message 5 of 19
PlasticDad
Frequent Contributor

Re: First "Real" CC Approval

That's great news Congrats on the upgraded DISCO and AMEX CM! Welcome Aboard Smiley Happy








"Give me liberty, or give me credit!" -PlasticDad


Message 6 of 19
user1054596
Regular Contributor

Re: First "Real" CC Approval

19 years old

$15k annual income

$3800 Amex

 

i'm so jealous! LOL congrats on your new card!!!

Message 7 of 19
VoltronM
Senior Contributor

Re: First "Real" CC Approval

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

 

 

8-2019 / Fico 8 EX 8013 , EQ 8016 , TR 810
Amex ED 22k , CSP 17k , Discover iT 12.5k , Fifth Third Bank S2C 12k , BofA Cash Rewards 10k , Avianca Vida 10k , State Farm Good Neighbor Visa 10k , Citi DD 6k , Union Bank Rewards 5k
Message 8 of 19
xaximus
Valued Contributor

Re: First "Real" CC Approval

Congrats on the approval and keep it up! Manage your credit well and the CSP/CSR and many other cards will open up.


Scores - All bureaus 756 +
TCL - Est. $275K
Message 9 of 19
Outsiderdf
New Contributor

Re: First "Real" CC Approval

Congrats, I'm sure a great feeling!


@Bruuzu wrote:

I began building my credit in October 2017 when I got a Discover secured card with a security deposit of $200 making my CL also $200. Shortly after that, I made a Self Lender account to help boost my scores. After about 7-8 months, my Discover card was upgraded to unsecured and I was granted a CLI. I gardened from then until now, with my Self Lender account being paid off in November which left only my Discover card with a CL of $2,400. I had thought about applying for another but didn't focus on it until recently. I researched a lot, mostly into cash back cards since I don't travel/dine a lot (I'm 19) and I had initially wanted a card like the Chase Freedom, Unlimited, or Citi DC. I knew these cards were not the easiest to get so I started to check for any pre-qualified cards. I checked everywhere and the only offers I had were Amex. I had pre-qualifications for the gold card and the cash magnet. The AF on the gold card makes it basically useless to me at this point, so I researched into the cash magnet and saw it as a great option. I mainly didn't want to waste a HP on a denial and seeing as it's almost the same as the Unlimited (besides the UR points but I'm not getting a CSR/CSP anytime soon), I went for it. I was auto-approved with a SL of $3,800 with a 730 score and $15,000 annual income. Since I had just "graduated" my secured Discover to a unsecured card, I see this as my first real approval. I know I should probably have more than 2 accounts and I definitely want to get in with Chase so now I'm wondering when would be the best time to apply for other cards. I have no need for them right now, but for the AAoA would it be better to have new cards closer together? Rather than wait another year and bring it down even more. Currently at 1 yr, 3 mos with just my Discover.


 

Chartway Federal Credit Union Signature Rewards $15k | First Financial Federal Credit Union Signature Rewards $15k | Suncoast Credit Union Cash Rewards $15k | Overstock $11K | Wayfair $10.5K | PenFed Power Cash Rewards $10k | DCU Platinum $10k | BB&T Cash Rewards $6.5k | BB&T Bright $6.5k | SunTrust Signature Rewards $6.5k | Discover Chrome 5.5k | TIAA Bank Cash Rewards $5k | BB&T Travel Rewards $4.5k | BB&T Bright $4.5k | PayPal Credit $4k | BB&T Spectrum Rewards $3.5k | Discover Cash Back $3k | BB&T Cash Rewards $2.5k | BB&T Cash Rewards $2k | Home Depot $1K | VS $750 | J Crew $750 | US Bank Secured $300
Message 10 of 19
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