Hey, Roni...

Discussion in 'Credit Talk' started by dave, Nov 2, 2000.

  1. dave

    dave Well-Known Member

    Well, Chase called me at work today to verify telephone number and social security number. I ended up being approved for $1500 (yeah!)

    Now here's my question: Mid-April, I want to apply for AMEX Blue or AMEX Gold Charge. If I open this Chase account, then at that point I'll have:

    -12/99 Auto Installment Loan
    -2/00 NextCard
    -3/00 Aria
    -5/00 Target
    -8/00 AE Outfitters
    -10/00 Citibank
    -11/00 Chase

    Don't you think AMEX will deny me for too many new accounts?
  2. Eboni

    Eboni Guest

    I'm not Roni, but...

    What the heck do you need AE Outfitters for? I would dump Aria unless it's a platinum. Also if you have a Citibank Visa and a Chase do you really need Target? Just my opinion.

    I don't think the amount of credit cards you have matters to other credit card people. Just to Mortgages. Someone else here might know better.
  3. Saar

    Saar Banned

    That's very possible, though the official reason would be "too many revolving credit lines".

    I'd close Target and AE Outfitters right away. If your Aria is the Persona, get rid of it even quicker. That card is a disgrace, even for credit (re)builders. However, the other Aria models (Portrait and Platinum) are good cards.

    This leaves you with:
    1 secured installement loan
    2-3 revolving CC lines
    Not bad at all.

    Both Amex Blue and Gold are great, but given the age of your credit lines, maybe you should hold your horses a while longer. It's well worth the wait.

  4. Momof3

    Momof3 Well-Known Member

    I'm not roni either, but

    My hubby applied for the Blue, and was denied due to the fact that his revolving accounts were not established that long. At the time of his application he had an installment loan 3/98 and Aria 6/99 and a few others just under a year. he applied last month 9/00
  5. dave

    dave Well-Known Member

    RE: I'm not roni either, but

    I applied in August, and was denied for too many recent inquiries, too many accounts with balances, etc.

    So I'm planning on not having any inquiries in the next 6 months, and not using the cards a couple of months before I apply, so my cr will show zero balances. (I pay in full each month, anyway...)
  6. Momof3

    Momof3 Well-Known Member

    RE: I'm not roni either, but

    Yes they still may deny though b/c of length of history?
  7. dave

    dave Well-Known Member

    RE: I'm not roni either, but

    Not if the credit score is high enough!

    Last I knew, it was low 700's (703)...

    NextCard gave me my score after doing an account review...
  8. roni

    roni Well-Known Member

    Hey Dave.

    hello dave,
    I agree with the talented trio (eboni,saar and momof3). You still may be turned town for another reason this time like mom said. Dave arenot you the guy wanting to go back to school. WELL, credit is great. You need it for stuff like a mortgage, car, loans etc. But when you are no longer working and you will have to alter your life style as a student, living the high credit life now may make things very difficult in your near fulltime student future. Dont do anything to jeopardize that 700+ score. We never know what life will bring or the lessons what God will teach us. But that's just my opinion and worry. I know the Amex card is pretty. But your Aero Degree will be even prettier.
  9. roni

    roni Well-Known Member


    CONGRATS about chase.
  10. dave

    dave Well-Known Member

    RE: Also,

    Thanks, everyone!!
  11. Beth

    Beth Guest

    Hi Dave

    I'm in equipment leasing and we turned down a gentleman today with a 697 credit score because all of his credit was new (1.5 years was the oldest credit line) and he had 2 new platinum cards w/ balances. Usually he would have fit in our application only program if we just went by the score. Unfortunately our funder felt that his credit score could be high because all the credit was new and our client just hadn't had the time to show how he will handle all this credit.

    Even our "bad credit" lenders wouldn't take him because of the newness of the accounts. I was kind of surprised by this because I used one of these lenders to get a man w/ a low 600 beacon score financed!

    You should probably let your accounts age a bit before applying for more credit.

    Take Care!

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