Hi all,

Newbie here and I'm trying to make a comeback! I've always been interested in the points and miles game but was quickly discouraged when I tried to apply for a southwest rapid rewards card back in summer 2010. I just graduated college back then and didn't have much of a credit history. Since I was denied I just stuck with my average CapitalOne cards.

Now I'm ready to give it another try and I'm interested in applying in a few airline credit cards or any credit card with flexible rewards for redeeming miles.

Here is my situation:

I recently paid off my credit card debt to a zero balance. I used to have a maxed out balance on both of my only credit cards ($2,000 on one, and $2,500 on the other).

Since I just paid off my credit cards (and I plan to pay off the balance in full each month moving forward)...how long should I wait till I apply for airline credit cards? Is it going to take awhile for it to show up on my credit score? How can I increase my chances in getting accepted?

Also, I have student loans out that I'm currently paying off (around $25k left) and an auto loan (around $12k left) both in good standing. Should I be fine if I have any loans out?

Here are the cards I have my eye on:

Chase Sapphire Preferred
Citi Platinum Select / AAdvantage World MasterCard
United MileagePlus Explorer Card
Gold Delta SkyMiles Credit Card from American Express

...I'm open to any other cards as as well. Thanks in advance for the help.

First thing first. What is your real (FICO) credit score? Since your credit situation has just changed, this is extremely important before diving in.

Having said that, Chase and Amex premium cards could be the easiest to obtain with a limited credit history. Then, it's City, then Barclays and US Bank. And if it was me, I would stay away from Delta unless the offer was at least 75,000 miles. Greedy, disrespectful and most terrible loyalty program all around.

It can take up to a month for your change in revolving balance to be reflected in your credit score. But once it shows up, the fact that you used to carry a 100% balance will not be relevant. The loans are generally a good thing, since they're in good standing.

However long it takes for them to report. Generally card balances are reported at statement close but there are some that don't follow that schedule. Additionally, the CRA's can take a few days to update. I'd suggest using a CMS to verify your reported balances. I'd also +1 the suggestion to pull your reports and scores and ensure that everything looks good.

A variety of credit is beneficial. I'd suggest reading up on the basics of credit scoring as it covers all this sort of stuff and there are many resources out there. Here's one:
http://www.myfico.com/crediteducatio...yourscore.aspx

I was planning on running a current credit report. Last time I checked it was around 650 with my credit cards maxed out.

Should I run a credit report now so I can fix anything that I might have overlooked or should I wait a couple months for my credit to update with my credit cards being paid off?

btw it feels good not having credit card debt, should have done it sooner.

I just check credit scores...

Credit Karma (TransUnion) - 721
Credit Sesame (Experian) - 735

Should I be in good shape to apply for miles cc cards or should I wait a couple months for my score to settle?

The two score you mention are not the real FICO score. You might need to get one from here We can get a free credit report from each of the 3 bureau once a year.

I also heard some from the forum saying that Credit Karma's matrix is not that accurate.

I'm just using CreditKarma and CreditSesame to get a ball park range. How do I get my "real credit" score? I'm assuming MyFico?

I used annual credit report last month and they just gave me a report...I didn't see any scores.

With those ball park scores should I be alright?

My bad. That indeed didn't give you the score. I once used the 7days trail from Experian to get their full report with the score.

I am definitely not a expert here but I can share my experience with you:
CreditKarma 720+
CreditSesame 740+
EX & TU: 734
EQ: 743

I just got instant approved for my AA Plat last week.
I also got instant approved for my SPG half an year ago when my score is around 710-720.

Just like the others said, I would suggest you to wait until the reports reflect that you have paid your cc in full and then proceed with your applications.

Hope this helps.
Pete

Yes, I was accepted :-)