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I know this is a topic that has beaten the poverbial dead horse. I wanted to get some experiences applying for these two cards. I am considering both but don't know if my odds of getting approved for either are too good. Credit profile is as follows:
TU(myFICO): 718-758*
EQ(myFICO): 680-720*
EX(PlusScore): 706
*based on simulation. Currently available report does not reflect lower credit utilization from current billing cycle yet which is currently 7%. I'll refresh Thursday when the new reports are available
6 student loans carrying balances totaling less than 10K
1 revolving credit card from Capital One ($300 CL)
1 open credit on bank account (OD protection: $500 limit)
One deliquency 2 years ago (30 days) reflected in TU and EQ but not EX.
My income is over 97,000 per year but I have a short history (Total of 4 years but AAoC is 2 years)
Do I have a chance on getting approval for either one of these cards?
Travel rewards for sure. I work in the oil industry and I tend to travel for two weeks a month. I'd like start getting some of the rewards from it. To give a little more description: September of last year I didn't even have enough credit history to generate an actual score. I had applied for an AMEX Green and got denied. I chose to go for a "bad credit" type credit card so that I could get a score with hopes of applying for a beneficial card about this time. That is why my limit is so low on the Capital One. I don't have a relationship with Chase though.
@jgbishop wrote:I know this is a topic that has beaten the poverbial dead horse. I wanted to get some experiences applying for these two cards. I am considering both but don't know if my odds of getting approved for either are too good. Credit profile is as follows:
TU(myFICO): 718-758*
EQ(myFICO): 680-720*
EX(PlusScore): 706
*based on simulation. Currently available report does not reflect lower credit utilization from current billing cycle yet which is currently 7%. I'll refresh Thursday when the new reports are available
6 student loans carrying balances totaling less than 10K
1 revolving credit card from Capital One ($300 CL)
1 open credit on bank account (OD protection: $500 limit)
One deliquency 2 years ago (30 days) reflected in TU and EQ but not EX.
My income is over 97,000 per year but I have a short history (Total of 4 years but AAoC is 2 years)
Do I have a chance on getting approval for either one of these cards?
I would think you would more likely be approved for AMEX Plat than CSP. AMEX charge cards seem to be approved at lower (680-700) scores. The CSP is probably a no go, due to the fairly recent (2 yrs ago) 30 day lates, your short history, and your limited credit history (only 1 CC open). Chas also has been doing alot of double pulls (EX/TU) lately, so the fact that something appears on one bureau and not another may not help alot in this case.
I will also say that depending on FAKO scores is probably not the best thing to do when trying to decide where to apply. It is always better to have a real FICO in hand before making a decision.
Would the fact I currently carry a corporate AMEX help me out at all? Also, would applying in person be of any benefit?
Is this a case where you may have to get a say GE backed card maybe a walmart or a sams club hope they give you a decent CL then wait after 4th statement cuts request increase, get one close to 4k-5k then in a year apply for a CSP? Does your job have a credit union? maybe they can be a lot more generous and give you a good credit limit to begin with?
Try capital one secure rewards card .If you can put $3k down which is the Max that would show you can handle a higher limit card than in 6 month try for one of those cards you prefer ....Just my opinion
it should help with maybe backdating when your approved for your own.. not sure if that works but i think ive read it does in some threads..
@jgbishop wrote:Would the fact I currently carry a corporate AMEX help me out at all? Also, would applying in person be of any benefit?
I doubt it. If it is not in your name, it has no bearing on you being approved.