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Should I app now with Amex and Chase?


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After 15 months, I finally got my scores into the 700's:

 

Experian 735 

Equifax 733 

Transunion 725

 

I settled for the less than the full amount a few years ago with Amex and just did the prequalify offer which I got prequalified for almost every card they have. I'm nervous to app with them but I guess there is no other way to do it but to do it. 

 

With my scores now in a decent spot, is now a good time to app with them? 

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Amex APPROVED!!!!! WOOHOO!!!!!!!!

After 15 months, I finally got my scores into the 700's:   Experian 735  Equifax 733  Transunion 725   I settled for the less than the full amount a few years ago with Am

Thanks for the very encouraging words @cv91915. I'm going to call again today to see if I can still make it happen.   If it doesn't work, I'll wait 6 months and reapp. 

Well if you app with AmEx, if you're on their BL (for not repaying in full), they will likely decline without an inquiry.  You also mention Chase.  I would develop a plan that maximizes your preferred rewards based on your spending patterns, and then app for the cards that best meet those criteria.  

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I don't recall too many posts with people reported disappointment after applying after a pre-approval.  

 

5 hours ago, CTSoxFan said:

I would develop a plan that maximizes your preferred rewards based on your spending patterns, and then app for the cards that best meet those criteria.  

 

👆

 

It can be difficult to transition mentally to having a lot of options after not having appealing ones for so long. 

 

I still have some open garbage cards that I never should have opened, I was just enjoying the gratification from getting the green light. 

 

Try not to end up with my collection of misfits.  Every card should have a purpose.

 

Also, congrats again on your progress!! 

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7 hours ago, schizcat said:

Why not apply for both? I'd go with Chase first since you my be on Amex BL. 

I'd actually go first for whichever card the OP thinks is the longest reach; that way you're apping with fewer inq's showing.

 

That's why I applied for (elusive) Barclay's Aviator last month before applying for less-Olympian FNBO.  Got approved for both.  :)

 

Edited by Sidewinder
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On 7/29/2021 at 4:08 PM, Sidewinder said:

I'd actually go first for whichever card the OP thinks is the longest reach; that way you're apping with fewer inq's showing.

 

That's why I applied for (elusive) Barclay's Aviator last month before applying for less-Olympian FNBO.  Got approved for both.  :)

 

Looks like he got the Amex. The other reason I suggested Chase is because they look at the number of inquiries in a given time. Didn't know if he had other inquiries that would hinder him. 

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4 hours ago, schizcat said:

Looks like he got the Amex. The other reason I suggested Chase is because they look at the number of inquiries in a given time. Didn't know if he had other inquiries that would hinder him. 

Yeah he said AmEx; my question was which AmEx.  They offer a lot of different cards.

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8 hours ago, Sidewinder said:

Yeah he said AmEx; my question was which AmEx.  They offer a lot of different cards.

 

I went for the Amex Blue Cash Preferred.

 

I was going to go for Chase and was thinking of their 5/24 rule. I opened 4 CC's in the last 14 months but thinking,I really don't need anymore cards. Amex is cool for now and I just want to increase my existing limits.  

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So I have Credit One CC which we all know is a turd card and I'm paying $8/mo for the annual fee. It gives me nothing, no rewards, nothing.

 

I'd love to get rid of it but it is the longest tradeline I have of almost 4 years. 

 

Should I keep it because of the age or is it time to let it go?

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4 hours ago, maverick9 said:

So I have Credit One CC which we all know is a turd card and I'm paying $8/mo for the annual fee. It gives me nothing, no rewards, nothing.

 

I'd love to get rid of it but it is the longest tradeline I have of almost 4 years. 

 

Should I keep it because of the age or is it time to let it go?

 

How many more cards do you think you need/want to have your ideal collection?

 

If you still need a 5% gas card or a 2% (or more) everywhere card, for example, I'd get those first and then close the Credit One card.

 

If you have all of the cards you think you'll need for a while, just let Credit One go now.  

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4 hours ago, cv91915 said:

 

How many more cards do you think you need/want to have your ideal collection?

 

If you still need a 5% gas card or a 2% (or more) everywhere card, for example, I'd get those first and then close the Credit One card.

 

If you have all of the cards you think you'll need for a while, just let Credit One go now.  

 

I'd like to get Chase. That would be my last one. I currently have 5 cards now:

 

Amex

Credit One Bank

Discover

Capital One

Navy Federal 

 

So if I let go of the Credit One Bank and get a Chase card, this would be ideal. 

 

I know that age of tradeline matters so it was more of a question do I let my aged Credit One card go or not. I guess it has to go sooner or later, right? 

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8 hours ago, maverick9 said:

So I have Credit One CC which we all know is a turd card and I'm paying $8/mo for the annual fee. It gives me nothing, no rewards, nothing.

 

I'd love to get rid of it but it is the longest tradeline I have of almost 4 years. 

 

Should I keep it because of the age or is it time to let it go?

Age will still be there...accounts typically report for a decade post-closure. 

 

And, in that light, the sooner you close it, the sooner it is gone and the sooner you start saving a C-note a year.

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8 hours ago, centex said:

Age will still be there...accounts typically report for a decade post-closure. 

 

And, in that light, the sooner you close it, the sooner it is gone and the sooner you start saving a C-note a year.

Ah ok great! Didn't realize that I wouldn't lose the age.

 

So I'm going to close it. I haven't closed an account in years. Is there anything I need to do specifically (i.e. in writing, closed per customer request?) or just call them and tell them I want it closed?

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8 hours ago, maverick9 said:

Ah ok great! Didn't realize that I wouldn't lose the age.

 

So I'm going to close it. I haven't closed an account in years. Is there anything I need to do specifically (i.e. in writing, closed per customer request?) or just call them and tell them I want it closed?

Many times you can do it online. You might need to follow up with a phone call to make sure. Back in the day I'd snail mail a cut up card to the lender.

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15 hours ago, IndyPoolPlayer said:

Reason?

I was looking and I settled with Chase on my Amazon card 2/16 for $200 less than the full amount. I'm wondering if this has something to do it with it. 

 

I owed Amex much more and settled a  lot less with them but they approved me and for a generous amount too so I don't know what to think. 

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6 hours ago, maverick9 said:

I was looking and I settled with Chase on my Amazon card 2/16 for $200 less than the full amount. I'm wondering if this has something to do it with it. 

 

I owed Amex much more and settled a  lot less with them but they approved me and for a generous amount too so I don't know what to think. 

Each bank will be different. It just depends on how they view your history as a whole. After a few months of positive trade line with Amex, chase my be more forgiving. 

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On 8/1/2021 at 2:53 AM, maverick9 said:

I was looking and I settled with Chase on my Amazon card 2/16 for $200 less than the full amount. I'm wondering if this has something to do it with it. 

 

I owed Amex much more and settled a  lot less with them but they approved me and for a generous amount too so I don't know what to think. 

 

Call the recon line and ask them to take another look.  Nothing to lose.  Be prepared to talk through anything/everything on your CR, why you had issues in the past and why they won't happen again.  888-270-2127

 

Also, as others mentioned, dump credit one ASAP.  You don't need to pay ~$100 per year for the privilege of carrying around that piece of crap.

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