@jsucool76 wrote:
@drkaje wrote:
@jsucool76 wrote:
@drkaje wrote:I'd really wait until any secured product graduated.
Chase likes some CC use history so it's hard to imagine they'd show any love at this point.
It takes a lot of patience to not apply all willy-nilly as scores start to improve. Inquiries drop scores and remain visible for two years.
I thought inqs only affected scores for 1 year? I know they stay on your report for 2, but I'm fairly certain after 12 months they stop affecting your score.
Also all of amex's charge products (with the exception of plat/cent) waive the AF for the first year, so it is definitely worth it to lock in a member date if you can.
Does paying to lock in a member date make sense for someone who needs a secured product? I realize the AF is waived first year. Year two people will be asking for a PC hoping things have improved enough to get a credit card from Amex.
I'm not saying people shouldn't want an Amex. I'm just saying it should be the right financial decision.You aren't paying to lock in a member date if it is free....#CommonSense
You only need really 6 months of history to get an amex charge, OP has 7. It would be a perfect option to get your foot in the door with amex. The "Go To" used to be the zync which is no longer around, and all charge cards have the same UW criteria. Might as well try.
Other options of course are cash back products that OP is talking about, cap1 cash rewards, discover more/IT, citi forward.
Since OP mentioned Zync, I figured AF cards were preferred. Amex does have no-AF products like Delta which is pretty decent.
Not certain but people generally feel underwriting for Amex credit products are a little stricter.
I'm a huge Amex fan. That being said, I just feel we push so hard to hit "Primeville", feel liked by Amex, or finally arrive we ignore times when other cards might be better choices.
I think Amex gets too much love here but still will be keeping at least 1 when the herd gets culled in 7 years. 
Starting Score: 675
Hmmm...if OP uses the Cap1 card for everyday purchases, it seems pretty easy to spend $2000 to offset the annual fee. Am I missing something? I charge about $1500 a month on my Cap1 cash rewards card. Limit is $2000. When I get the increase in March to $2500, I will charge $2000 a month. I got the card in July and the AF is already offset.
Cards: Orchard Bank ($1100) | Cap1 Cash Rewards ($2500) | Chase Freedom ($1000) | Best Buy ($2500) | Discover It ($1000) | Barclay Rewards ($2500) | Current scores: EX FAKO: 684, CK TU: 649, FICO EQ: 680, FICO TU: 698, FICO EX: 658 Happy Homeowner Since 2/6/13! 
@Cdnewmanpac wrote:
@HiLine wrote:
@Cdnewmanpac wrote:
(I don't know where the idea that Chase doesn't "trust" secured cards comes from
That comes from my conversation with a Chase recon representative.
Odd, since I was approved on recon a year ago for visa sig 5k limit with only 2 secured cards active <1year. All my unsecured credit is <1year old, but recently approved for csp. so two recons, never mentioned secured cards as an issue. In fact, first recon rep applauded my " rebuilding effort", which at that point consisted entirely of secured credit. Lots of people have gotten freedom with secured credit. So maybe better to say "a rep said" ahead of "chase doesn't trust"
Did you also have a banking relationship with them when you opened the card last year? The rep I talked to specifically mentioned that my credit history wasn't reliable enough because my only card at the time was a secured card, albeit with a $2k limit. I could've worded the phrase a bit differently, but the message is the same.
Oh I don't disagree that the Freedom beats the Cap1 card hands down (why I applied) but it with 7 mo of credit history...not sure that will go through or not. It appears I am barely getting my foot in the door with 4 years of history. The Cap1 card would be a bridge card to the Freedom. Or OP can garden more and go for the Freedom later.
Wow, a lot of replies since I last checked. I appreciate everyone's input on my question.
Let me just clarify one thing though. I was merely looking to apply for Zync because it had a low AF and I pay off my balances every month anyway. But since that product is no longer available, I really have no desire to app for Amex. I may further down the road when I feel I'm ready for one of the revolvers, but their AF products simply do not make since for my spending habits.
My BOA card should graduate next May, if they are in the mood to do so. I'll probably wait like some have mentioned in order to better my chances for a better limit card. I'm in no rush at all, just trying to do the right thing for my credit profile. I'm not one that "needs" the credit by any means, it's simply a way to better my scores in hopes of a mortgage some day, hopefully within a years time.
Edit: BTW to the poster that was on the mobile device, my FICO scores are currently EQ: 689 and TU: 698
@Cdnewmanpac wrote:
@HiLine wrote:
@Cdnewmanpac wrote:
@HiLine wrote:
@Cdnewmanpac wrote:
(I don't know where the idea that Chase doesn't "trust" secured cards comes from
That comes from my conversation with a Chase recon representative.
Odd, since I was approved on recon a year ago for visa sig 5k limit with only 2 secured cards active <1year. All my unsecured credit is <1year old, but recently approved for csp. so two recons, never mentioned secured cards as an issue. In fact, first recon rep applauded my " rebuilding effort", which at that point consisted entirely of secured credit. Lots of people have gotten freedom with secured credit. So maybe better to say "a rep said" ahead of "chase doesn't trust"
Did you also have a banking relationship with them when you opened the card last year? The rep I talked to specifically mentioned that my credit history wasn't reliable enough because my only card at the time was a secured card, albeit with a $2k limit. I could've worded the phrase a bit differently, but the message is the same.
Nope. 2 secured cards, one active mortgage, two paid off, one paid off car loan, 22 student loans, 2 collections, 3 charge offs, one paid student loan with lates. Chase bought my old lender this summer, so current cr lists chase as my previous mortgage holder, but didn't at time of original app. Point is that stating e what a rep told you is useful information. Stating it as universal flies in the face of the experience of many, thus making it hard to evaluate.
You had enough credit history for the distinction between secured cards and non-secured cards to matter a lot less. I'm sure if you had asked the rep whether they put much weight to secured card usage history, they answer likely would've been a 'no'. If anybody hears the opposite from a Chase rep, I will gladly stand corrected.