Super Excited but YIKES!!!!! 4 Approvals!

JamesKnox · ‎02-03-2017

So I have great news! and then a not so great realization.

Went on a little APP spree. CSP and Freedom and Amex Business Platinum (JUST APPROVED ON RECON!!!) and Amex ED and got approved for all 4.

After the excitement wore off, I realized HOLY CRAP I have to spend $10,000 in the next 3 months (AmexBusPlat), PLUS $4,000 (CSP), PLUS $500 (ChaseFreedom), PLUS $1000 (Amex ED) to get all of the rewards.

Anyone reading this and thinking about going on an app spree...PLEASE think about this. If you don't spend this amount of money in such a short time, leave some space in between your apps!

Nevertheless. The Freedom, I have already completed the $500 needed for the 15,000 point bonus. If anyone wants to weigh in, please do, but I think at this point I sort of need to pick a side. #teamAMEX or #teamCHASE. --- Realistically, if I run EVERY SINGLE THING through the Platinum, I should be able to get to the $10,000 in 3 months. With that, I doubt I would meet the 4k spend on the CSP. Any suggestions on what I should do?

Starting Score: (FICO)(August 29, 2013) 502(EQ) 568(EX) 549(TU)
Current Score: (FICO) (January 28, 2017) 712(EQ) 720(EX) 720(TU)
Goal Score: 720(EQ) 720(EX) 720(TU)
Amex Business Platinum NPSL | Chase Sapphire Preferred $15,000 | Chase Freedom $9000 | Amex ED $1,000 | BofACash Rewards $3100 | Amazon Store Card $4000

DeeBee78 · ‎02-03-2017

Without going into MS, there are legitimate ways to meet these spend bonuses.

You can use services like Plastiq to pay your mortgage or auto payments via credit card. Their small 1-2.5% transaction fees are easily outspent by the rewards on the CSP and Amex Business.

Another thought: You can pre-pay insurance premiums using your 0% cards, then make monthly "insurance" payments to those cards.

austinguy907 · ‎02-03-2017

Just another case of credit addiction and eyes bigger than the spend to get bonus. Heavy hitters don't have an issue knocking this out but, then again most don't go overboard with this many programs. Congrats I suppose on the approvals.... The long game might be more important than nailing the hurdles.

AverageJoesCredit · ‎02-03-2017

Lol, TEAM DISCOVER!!

JK, or am I?..... gotta be, i have no Chase or Amex haha

.

Congrats on all your new cards and luck on meeting all your spend requirements

JamesKnox · ‎02-03-2017

GREAT Note about the mortgage and auto payments Deebee! This way I could achieve the 10k spend easily!

Thank you for being helpful.

x

Starting Score: (FICO)(August 29, 2013) 502(EQ) 568(EX) 549(TU)
Current Score: (FICO) (January 28, 2017) 712(EQ) 720(EX) 720(TU)
Goal Score: 720(EQ) 720(EX) 720(TU)
Amex Business Platinum NPSL | Chase Sapphire Preferred $15,000 | Chase Freedom $9000 | Amex ED $1,000 | BofACash Rewards $3100 | Amazon Store Card $4000

Anonymous · ‎02-03-2017

@DeeBee78 wrote:
Without going into MS, there are legitimate ways to meet these spend bonuses.

You can use services like Plastiq to pay your mortgage or auto payments via credit card. Their small 1-2.5% transaction fees are easily outspent by the rewards on the CSP and Amex Business.

Another thought: You can pre-pay insurance premiums using your 0% cards, then make monthly "insurance" payments to those cards.

Great Idea!!! I've got to meet Amex PRG. I will be using the insurance idea for sure.

Anonymous · ‎02-03-2017

Even if you meet the spend...what about paying down the balances...Congrats on the approval though

JamesKnox · ‎02-03-2017

Well, I can pay down the balances. That's not the issue. I was more concerned with the idea of me randomly buying stuff just to meet the spend. Which I didn't want to do.

But with the insurance premium suggestion, the mortgage and vehicle suggestion, I should be okay.

Starting Score: (FICO)(August 29, 2013) 502(EQ) 568(EX) 549(TU)
Current Score: (FICO) (January 28, 2017) 712(EQ) 720(EX) 720(TU)
Goal Score: 720(EQ) 720(EX) 720(TU)
Amex Business Platinum NPSL | Chase Sapphire Preferred $15,000 | Chase Freedom $9000 | Amex ED $1,000 | BofACash Rewards $3100 | Amazon Store Card $4000

Anonymous · ‎02-03-2017

Congrats on your approvals but jeez that's a lot of spending to do! An eye opener on why to not app for so many cards in one day

Anonymous · ‎02-03-2017

Congratulations on your success. Enjoy your new SL. And use it wisely!

And thank you DeeBee78. Nveer knew about Plastiq! sweet info.