Student requiring some information and advice for Amex

[Anonymous]

Thanks for the help.

I might just pull the trigger on the Amex blue Student.

Besides that, I was wondering if I open an account with citi and say maybe put about 7K with them in a CD or a checking account. Would it be highly possible that they give me a credit card too?

For citi, I am looking at the mtvU select visa and maybe try the citi platinum amex  which has the annual fee waived for the first year .I am pretty sure I would able able to get the mtvU card but would it be a tall order getting the platinum amex from them even if you have some form of relationship with them?

Or in any case would they allow securing a CD against the citi platinum amex. Anybody heard of these kind of things before? I know there is a normal secured card from citi which I do not want.

[Anonymous]

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zander86 wrote:

Thanks for the help.

I might just pull the trigger on the Amex blue Student.

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I wish you luck.  In spite of Greg's post above, this has proven to be a tough card to get, in spite of its name.

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zander86 wrote:

Besides that, I was wondering if I open an account with citi and say maybe put about 7K with them in a CD or a checking account. Would it be highly possible that they give me a credit card too?

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Doubtful that a brand new checking account or CD would influence their decision.  Banks sometimes give a little extra consideration to longtime, loyal customers, but not brand new ones.

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zander86 wrote:

For citi, I am looking at the mtvU select visa and maybe try the citi platinum amex  which has the annual fee waived for the first year .I am pretty sure I would able able to get the mtvU card but would it be a tall order getting the platinum amex from them even if you have some form of relationship with them?

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You may be able to get the mtvU card.  Citi Platinum Amex is among the more difficult Citi cards to get.  It's actually considered a high-end card.  It's not a starter card by any means.

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zander86 wrote:

Or in any case would they allow securing a CD against the citi platinum amex. Anybody heard of these kind of things before? I know there is a normal secured card from citi which I do not want.

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No, you cannot have a securing deposit on a Citi Platinum Amex.

Edit:  Wow, I just reread my post and realized I kind of rained on your parade on all accounts, didn't I? LOL.  Sorry about that.

Message Edited by cheddar on 07-03-2008 07:22 PM

[Anonymous]

If it is really a tough card to get, would you think if i apply for the green card(taking into consideration my current history), I would stand a better chance?

In short, which of my chances are higher, blue for students or the green card?

Thanks a lot once again.

[Anonymous]

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zander86 wrote:

If it is really a tough card to get, would you think if i apply for the green card(taking into consideration my current history), I would stand a better chance?

In short, which of my chances are higher, blue for students or the green card?

Thanks a lot once again.

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My advice would be Green, but wait until you are certain you have a FICO score on EX and know what it is, which would be November or so, after you've established six months of history on your PNC card.

Then again, you may luck out.

[Anonymous]

So its a no go without any scores on EX?

On the other hand, I was thinking since I do not have a score yet, I would not be affected at all if I try and apply and get denied since they will be no way for them to leave any records on my history.

Is that right?

[Anonymous]

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zander86 wrote:

So its a no go without any scores on EX?

On the other hand, I was thinking since I do not have a score yet, I would not be affected at all if I try and apply and get denied since they will be no way for them to leave any records on my history.

Is that right?

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No, because you already have a credit card, which you have had for two months now.  That means you likely already have a report, you just don't have a FICO score yet because you haven't generated the minimum amount of history required to generate one (six months).

As long as you have a report, the inquiry will be recorded when it is pulled.

[Anonymous]

Thanks everyone for the advice.

Oh and I have another question. Since I am most probably going to open a student account with citi and apply for the mtvU card, would they do a hard inquiry on me?

And a credit denial would mean a mark is left on my history? How long would that mark last.

[Anonymous]

The INQ will stay for 2 years and count in scoring for 1 year.

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zander86 wrote:

Thanks everyone for the advice.

Oh and I have another question. Since I am most probably going to open a student account with citi and apply for the mtvU card, would they do a hard inquiry on me?

And a credit denial would mean a mark is left on my history? How long would that mark last.

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[Anonymous]

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zander86 wrote:

Thanks everyone for the advice.

Oh and I have another question. Since I am most probably going to open a student account with citi and apply for the mtvU card, would they do a hard inquiry on me?

And a credit denial would mean a mark is left on my history? How long would that mark last.

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Yes, Citi will pull a hard inquiry.  Every creditor will pull a hard inquiry whenever you apply for credit.

You don't get a negative mark for the denial, per se.  You will, however, have a record of the inquiry, but you get that whether you are approved or denied.  Inquiries remain on your reports for two years from the date of the inquiry, but they count against your FICO score for only one year.

[Anonymous]

I ask that because since I they would pull a hard inquiry on me when I go down to a branch and apply for the mtvU card, would it make sense that I submit an app for another prime card together such that they would only pull one hard inquiry and do a consideration for the two paper applications that I made. I can save on an inquiry in this way. Any thoughts on this? Or it doesn't work this way.