Credit card acceptance

kett3333 · ‎09-14-2014

Hello everyone.

New to the forum. I have a question I hope someone can provided an answer too. Have nearly a 25 year credit history. Had a 120 day late on a mortgage payment last year. However, I have been able to build my credit score on My Fico dashboard to TU 725 EQ 733 and EX 727. Will I be able to get a Shappire preferred card and a Amex blue preferred card? Have three credit cards but have low CL's. One CL is 3,500 the other is 3,000 and the one is 500. Oh, almost forgot have a Sears card for 3,900.

Thanks

andersk08 · ‎09-14-2014

with those scores id say yes.

Starting Scores: ( 9-9-14 )
Equifax FICO - 507 TransUnion FICO - 580 Experian FICO - 535
Current Scores: (10-08-14)
Equifax FICO - 552 TransUnion FICO - 639 Experian FICO - 609
ALL pulled from MyFico 3 Bureau Monitoring
Goal Score - 650 Across the board ( For Starters )

takeshi74 · ‎09-15-2014

@kett3333 wrote:
Will I be able to get a Shappire preferred card and a Amex blue preferred card?

Odds sounds fairly good based on what you've provided but all we can give you is opinions. We can't guarantee things one way or another. The only way to find out is to apply.

@kett3333 wrote:
Have nearly a 25 year credit history.

That probably helps but what is your AAoA? That's what is generally used as a metric for age.

@kett3333 wrote:
Had a 120 day late on a mortgage payment last year.

That could be a concern. Derogs are always a major problem -- especially recent derogs. If you want the best odds of approval (and better limits and rates if approved) then hit the Rebuilding subofurm and see what you can do to address this. Keep in mind that Payment History is the biggest slice at 35%:

http://www.myfico.com/crediteducation/whatsinyourscore.aspx

Anonymous · ‎09-15-2014

dont give too much thought and apply..

I would apply with Chase first then Amex. (amex is a rare horse sometimes.)

@takeshi74 wrote:
@kett3333 wrote:
Will I be able to get a Shappire preferred card and a Amex blue preferred card?
Odds sounds fairly good based on what you've provided but all we can give you is opinions. We can't guarantee things one way or another. The only way to find out is to apply.

@kett3333 wrote:
Have nearly a 25 year credit history.
That probably helps but what is your AAoA? That's what is generally used as a metric for age.

@kett3333 wrote:
Had a 120 day late on a mortgage payment last year.
That could be a concern. Derogs are always a major problem -- especially recent derogs. If you want the best odds of approval (and better limits and rates if approved) then hit the Rebuilding subofurm and see what you can do to address this. Keep in mind that Payment History is the biggest slice at 35%:
http://www.myfico.com/crediteducation/whatsinyourscore.aspx

Turbobuick · ‎09-15-2014

@kett3333 wrote:
Hello everyone.

New to the forum. I have a question I hope someone can provided an answer too. Have nearly a 25 year credit history. Had a 120 day late on a mortgage payment last year. However, I have been able to build my credit score on My Fico dashboard to TU 725 EQ 733 and EX 727. Will I be able to get a Shappire preferred card and a Amex blue preferred card? Have three credit cards but have low CL's. One CL is 3,500 the other is 3,000 and the one is 500. Oh, almost forgot have a Sears card for 3,900.

Thanks

Applying for credit is akin to a Vegas crap game. It costs a few fico-points on the come out. If you roll a 7 or 11, we congratulate you. If you crap out, we console you.