Which CC's for me?

[b1gr3dmachin3]

Hey all, I'm currently a college student and I would like to get a few more CC's to add to my wallet.

I currently only have 1 credit card:

BoA Cash Rewards 700$ 11/12

Creditsesame score of 722

I have no late/missed payments, 3 HP's, always under 10% utl.

The cards I'm thinking of are Discover It (student), Chase Freedom, Citi Forward (student), or any Amex lol

What do you guys think of my choices? Would I be eligible for any of these with my short credit history? If so how many? All opinions are welcome!

[09Lexie]

Now knowing your FICO score or income

IMO, DISCOVER, Citi and maybe Amex Charge. Freedom has been back and forth in wanting a full yr of rev history.

[enharu]

Chase usually prefers that applicants have at least 1 year of credit history, though there have been exceptions, notably for those who happen to bank with them.

Your chances for Discover and Amex charge cards and Citi forward should be pretty good.

Not too sure about Amex revolvers. I would recommend you wait till you have at least 1 year credit history as well for those.

Adding 1-2 cards for now probably is a good way to continue building your credit history.

[b1gr3dmachin3]

I am hoping to pull my Fico score shortly. I haven't been able to check it yet because Equifax had a wrong address for me. I just faxed them the correct one today and I was going to wait until that was resolved until I check it (was told it takes 24-48 hours). As for my income, my wife and I make a combined $22,500 annually (that number will rise considerably by the end of the year) but about half of that is money that wouldn't be considered income (federal grant, money from parents, etc.)

[b1gr3dmachin3]

Okay, thanks enharu. I'll hold off on the Chase for now. What is the difference between the Amex charge and revolers? If I apply for multiple cards, do I need to do it all at the same time?

P.S. How do you quote a post on these forums lol

[enharu]

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@b1gr3dmachin3 wrote:

I am hoping to pull my Fico score shortly. I haven't been able to check it yet because Equifax had a wrong address for me. I just faxed them the correct one today and I was going to wait until that was resolved until I check it (was told it takes 24-48 hours). As for my income, my wife and I make a combined $22,500 annually (that number will rise considerably by the end of the year) but about half of that is money that wouldn't be considered income (federal grant, money from parents, etc.)

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Some apps require that you put in your personal income, not household income, so do pay attention as to what they're asking for. If they're asking for personal income, you cannot include your wife's income. However, a lot of people are still approved even with around 10k income so chances are you're going to be okay.

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@b1gr3dmachin3 wrote:

Okay, thanks enharu. I'll hold off on the Chase for now. What is the difference between the Amex charge and revolers? If I apply for multiple cards, do I need to do it all at the same time?

P.S. How do you quote a post on these forums lol

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Amex charge cards are due in full. You have to pay whatever the balance is and cannot owe them money beyond the due date.

Revolvers are like normal credit cards. You basically have a revolving line of credit that you can carry balances if you wish to.

If you plan to apply for multiple cards, just try to do them within the same day, if not within a couple of days, just to do it before the lender reports a brand new account onto your CRA.

Oh to quote, click reply, then click on the quote button at top right corner.

[b1gr3dmachin3]

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@enharu wrote:

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@b1gr3dmachin3 wrote:

I am hoping to pull my Fico score shortly. I haven't been able to check it yet because Equifax had a wrong address for me. I just faxed them the correct one today and I was going to wait until that was resolved until I check it (was told it takes 24-48 hours). As for my income, my wife and I make a combined $22,500 annually (that number will rise considerably by the end of the year) but about half of that is money that wouldn't be considered income (federal grant, money from parents, etc.)

---

Some apps require that you put in your personal income, not household income, so do pay attention as to what they're asking for. If they're asking for personal income, you cannot include your wife's income. However, a lot of people are still approved even with around 10k income so chances are you're going to be okay.

---

@b1gr3dmachin3 wrote:

Okay, thanks enharu. I'll hold off on the Chase for now. What is the difference between the Amex charge and revolers? If I apply for multiple cards, do I need to do it all at the same time?

P.S. How do you quote a post on these forums lol

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Amex charge cards are due in full. You have to pay whatever the balance is and cannot owe them money beyond the due date.

Revolvers are like normal credit cards. You basically have a revolving line of credit that you can carry balances if you wish to.

If you plan to apply for multiple cards, just try to do them within the same day, if not within a couple of days, just to do it before the lender reports a brand new account onto your CRA.

Oh to quote, click reply, then click on the quote button at top right corner.

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Okay great, thanks for all the information enharu. As for Amex, I don't carry balances anyway so that wouldn't be a problem for me. Which Amex charge card would you recommend? Out of the 3, Discover Citi & Amex, I think it would be best to only apply for 2  right? Which of those 3 would you choose?

[b1gr3dmachin3]

I would really like the Amex BCEP card lol

[09Lexie]

That's a revolver and will probably require a little bit more history. Although, you might get lucky on your first try.

[enharu]

You really aren't too far off from 1 year of credit history. You could try your luck right now. There have been people who got approved for Chase and Amex revolvers with under 1 year credit history, but the odds are typically stacked against you in this scenario.

Best way to do it now is to apply for a charge card, and then try applying for the BCP sometime later this year.

I would recommend the Premier Rewards Gold card, since the AF is waived for the 1st year.