Hi, I am new to this forum and nice to see a forum like this . I have a basic question that how are the credit rated ,I have 716 points is it a good score .I dont have much cards with me , I woulkd like to apply for Amex card ,is this points is ok for applying ,Any recommendations on any other credit cards that i can apply . Thanks folks
Any score above 700 is very good. However, not every card issuer is score driven in their decisions. Alot depends on income, length of credit history, inquiries, and how many baddies i.e. derogs you have. I'd try BofA, and MBNA first since you don't have many cards yet. AMEX does like a long history.
Amex for the most part is one of the toughest to get. You wrote that your FICO is 716. 716 is an excellent score but do you have any negative information on your report, ie: lates, bk's. You also wrote that your credit history is short, AMEX requires you to have a good solid history with other major cc issuers ie: VISA or MC. Conduct a search here on AMEX and you will find past posts that will give you more of a detailed AMEX requirements. Generally the AMEX Green is the easiest and the AMEX Blue is the most diffcult to apply for. Hope this helps. Best regards, Mirage
Hi, If i am mistake correct me , my friends were reco for blue since they were telling thats the easiest card .I have my history for past 3 years and i dont have any negative or bks.. .I already have a BOA platinum for past 6 months .Other than this i recently applied for Discover ,I got a letter stating that i have been pre-approved ,but got rejected saying that 1.Number of open accounts 2.Excessive no. of credit bureau inquiries Do you have any idea on what these exactly mean . What are the cards do you guys reco me to apply ? Are shopping cards like -Dillards ,sears are easy to get approved ? Thanks
Re: Card Rating I think retail cards like Dillard's or Macy's are great for building a credit history. They're relatively easy to get, you could probably get them right now, and they charge no annual fees. You won't be under any pressure to close them to eliminate annual fees, so you can keep them open long enough to build the kind of history you need.
