Just Called: Successful CLI & PC

[improvingmycredit]

Immediately is best.  Better chance of them using the same HP for both apps.  It's not a guarantee but the chances are good that there will be only one HP.  In either case, if you get the Zync/Green then even if declined for CC, it's only a SP at that point.  

I know what you mean about which cards to use the most.  With regards to the Zync/Green- to maximize your earnings with this rewards card, use it just like you would your debit card.  I use mine for everything... even if I'm just buying a mountain dew.  I also have the connect pack on my zync so I have only one bill every month for cable, cell, internet and my everyday transactions.  I get rewarded now for things I would have bought anyway so no harm no foul and my money stays in the bank until the end of the month.

[G19OD]

Got it, thanks so much for your help.

Lastly, after I hear back from AMEX - leave BECU alone for awhile, or app in a bit?

[improvingmycredit]

At this point, if you get the cards you want from Amex, it'd be entirely up to you.  I went ahead and got all the cards I wanted out of the way at once.  Not necessarily the best way to do things but we all have our own credit goals and needs.  Remember, the more new accounts you get, the lower you AAoA gets and the lower your score.  It will rebound back after some time, but expect a decrease in your FICO scores.  If you have no major purchases in mind for the near future, then no worries.  I hope I've been helpful and I really wish you the best of luck with your Amex apps.  I'm pretty sure you are a shoe in for the charge account and a strong possibility for the credit product.  

[Anonymous]

I would wait for bofa to hit before apping to Amex. The reason is that your bofa limit is so low. I don't think Amex goes below 2k limits so for their perspective, they would be first to give you 2k which is problem. Wait for bofa and that issue goes away. As for which Amex credit card. Consider Spg card. Starwood points are great because they convert to tons of airlines at 1 to 1. Don't do Costco as you will get 2 hard pulls as they need to wait for Costco to verify membership. Of course, you can take chance and hope they pull experian for both, which is likely, and call experian to have 2nd hard pull removed as dupe. Really think you need one more card. Recommending Citibank or ge money bank card for cli policy. Walmart card is nice for free monthly tu08 fico score if you shop Walmart.

[G19OD]

Thanks you have answered a ton of questions that keep popping into my mind - starwood sounds good. I definitely need a good travel card since I am young. Hopefully AMEX is good for that seeing if I go out of country, I want it accepted.

Hopefully the Bankamericard 1-2-3 isn't Visa Signature and won't show CL?

[improvingmycredit]

I agree with Crashem regarding the CL issue with Amex except Amex does offer lower credit limits.  There are many here that started with 1K.  With this in mind though, this starting CL with Amex is easily turned into 3K in 61 days with good credit habits during that time period.  It wouldn't hurt to wait thou, no doubt about that.  Keep in mind though that if approved for the Zync, any subsequent apps are SPs with Amex if denied.  I like Citi too.  

[tntexans72]

---

@G19OD wrote:

Call BoA this morning - told them I want to PC and get a CLI up to no less than 5k - 5k because I have great credit history and 772 score. But a new BECU $9,xxx auto loan and only $700 BoA line (for 4 years). Told them I graduated about 6 months ago and have been working for 2 months with my current employer (~33k). I also said that I want to use this card as my daily and pay it off monthly.

Anyways, she reviewed my credit after a hard inquiry, and came back with $1,900 due to my new auto loan and only having one card with a low limit. She said use it for awhile and we can re-evaluate in about 6 months (with another hard inquiry of course). I ask her to round it to 2k and that was a no. Clearly they need more history on me.

Then I had her PC to the 1-2-3 Bankamericard rewards (now the 2-4 week wait!)

So, what is my next step. Stick with this card and wait a couple months/years until I can get a healthy credit limit of ~5k and then app for Chase Freedom, AMEX Costco or other CC, maybe a BECU CC?

Or is today the day to app like crazy (2 - 3 apps)?

Of course my goal is a Chase Sapphire eventually.

---

If you keep apping, your score will drop and so will your AAoA. Go with what you have now if you can hold out. Get your AAoA to about 3yrs and app for a Signature rewards card and you will get approve for the $5k minimum.

Any other cards you may get now will have a low CL cause of your thin file. GL !!

[Anonymous]

VISA Signature's start at a minimum of 5,000. I wouldn't worry about that yet.

And about your credit point... yes, inquiries reduce your score initially, but the real intent of your score is for it to look good at the time of the next major inquiry. Some people just like it to look pretty. Me, I want to build a healthy score for my eventual car/house purchase. My car purchase is a year away, so that's why I made sure I hit my report with a few CC inquiries at least a year before... and by the time my house purchase comes into play, I'll have a much healthier AAOA.

Short-term is okay, but think long-term as well. Do the damage now with inquiries and you won't have to spread them out eventually. That would actually hurt your AAOA if you apply for a card every year for 5 years than if you applied for 5 right now (It's an example, don't just run out and apply for 5 now).

[G19OD]

I think I am on board with waiting until BoA CL hits and then applying for AMEX Zync & Starwood or some other travel CC.

I think having BECU CC is a good idea as well, higher CL's, lower rates.

I agree, take the hits now (well planned out hits) and look long term seeing as house won't come for years.

[Anonymous]

Sounds like good plan. Still say you should hit up Walmart if in your area or some ge money bank card.