Howdy,
After we close on our first home mortgage I am looking to go after a new card... I really like th AMEX Blue Travel and the Chase Saphire Preferred offerings. I am a rebuilder of credit--All collections are gone, a couple of derogs still showing, but slowly falling (3 or so left around 6.5 years) and 6 credit lines totaling 6,000 in limit--The highest being a capital one quick silver with 3,500 limit--Have a barclay with 1,000 limit and others are below... Utilization is about 16% which is on the Quicksilver and everything else is at zero... Scores are ranging 670 to 700... In a couple of months I would like to apply for a major card...
The question lies--Should I apply for the freedom first or go straight for the gusto of the one I really want--Chase has me pre qualified for the Freedom and the Slate... and my other question here is--What about the AMEX Blue--How hard is that to get???
Any thought or comments would be greatly appreciated...
Starting Score: 550
Welcome to the forum,,
I believe you need a card with at least a 5K limit to qualify for the CPS,
it depends on what type of card you're looking for, Freedom for rewards,
Slate for balance transfers, sorry don't know about the Amex card.
Best of luck to you!!
I know I have read a lot on this card (CSP) and from what I have gathered a number of people have qualified with other cards under the limit... I am leaning toward starting with the Freedom card and building the relationship--But I ultamitly want the CSP... Just being patient because I have taken so long to fix this that I want to do it right as I grow into the credit world... i only want 2 more cards, but I may have to take a third to get where I want ultiamtly...
No doubt there--- I whole heartedly agree with you--Just trying to figure out the best avenue to get there... Not sure if anyone has skipped straight to it with a limited history such as mine...I have had credit for a long time--Bruised it up really bad and repaired... Just not aware if I need to take a stepping stone with the freedom first or go straight for the gusto... If it even matters...
I would start with the Freedom, the CSP might be a tougher nut to crack. Like stated above, the freedom will help you build a relationship with Chase.
Plus, most people that have the CSP also have a Freedom to maximize their 5% quaterly spending. Since the Freedom doesn't have an annual fee, it won't hurt anything.
You might also consider the new Everday Preferred card from AMEX, which seems aligned to compete with the CSP. Both Ultimate Rewards and Membership Rewards points can be valuable and have their perks.
Do you think AMEX--which is my the second card that I do desire has a build up process--Like start here to get to here type of thing--LIke I read that chase might have... Freedom to CSP so to speak...
@Aggielockett wrote:Do you think AMEX--which is my the second card that I do desire has a build up process--Like start here to get to here type of thing--LIke I read that chase might have... Freedom to CSP so to speak...
Many people start with a charge card to build a relationship with them, and then apply for a revolver later once they've established a positive relationship with them. However, like any CC issuer, while these things may help you get your foot in the door, your CR carries the most weight.