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Contributor
kwinks
Posts: 78
Registered: ‎07-15-2012
0

Advice!!!

Hi all, so I want to apply for Amex bcc and chase sp....that being said, I also really want to increase my cl on the two cards I have now, chase freedom and bofa cash rewards. 

 

Do you recommend asking for cl increase first then applying for new cards? I'm worried 1. About hps and 2. Cc companies thinking I am desperate for credit which Im not. 

 

worst case scenario I could wait on cl increase for chase freedom (current limit of 3000) however bofa really needs to increase my limit which has been at 500 for almost a year now.  

 

Thanks in advance. 

Chase Freedom 3000
Chase Sapphire Preferred 5000
American Express Blue Cash Preferred 6300
Bank of America Travel Rewards 5000
Bank of America Cash Rewards 3000
Discover IT 4000
Best Buy 4000
TU 733 EQ 743 EX 722
Valued Contributor
thom02099
Posts: 1,348
Registered: ‎08-30-2011
0

Re: Advice!!!


kwinks wrote:

Hi all, so I want to apply for Amex bcc and chase sp....that being said, I also really want to increase my cl on the two cards I have now, chase freedom and bofa cash rewards. 

 

Do you recommend asking for cl increase first then applying for new cards? I'm worried 1. About hps and 2. Cc companies thinking I am desperate for credit which Im not. 

 

worst case scenario I could wait on cl increase for chase freedom (current limit of 3000) however bofa really needs to increase my limit which has been at 500 for almost a year now.  

 

Thanks in advance. 



What are your current scores and util?  What's overall credit picture?  You've got some decent cards what are the limits? 

 

Just did a CLI on 3 cards, went 3 for 3 on all of them (see siggy below)

Diners Club Premier MasterCard $50K / AMEX Gold NPSL / AMEX Zync NPSL / AMEX Blue Cash Preferred $14K / Bank of America Cash Rewards Signature Visa $15K / Merrill Lynch Plus Signature Visa $15K / Wells Fargo Propel 365 $15K / Chase Sapphire Preferred Signature Visa $10K / J P Morgan Select Signature Visa $10K / Chase Slate Visa $6K / CITI Diamond Preferred MasterCard $13.2K / Discover IT $10.5K / IberiaBank Select Visa $8K / 1st Command Bank Platinum Visa $7.5K // Home Depot $9.7K / Lowes $10K

EX = 799 EQ = 812 TU = 811 - 11/2014
Contributor
kwinks
Posts: 78
Registered: ‎07-15-2012
0

Re: Advice!!!

I just pulled tu 733, and eq 743. 

 

My util is at 18% today but will be 8% tomorrow after chase balance is 0. 

 

I have chase freedom cl of 3000

bofa cash rewards 500 

nordstroms 750

au on Macy's card 400 

and cap 1 secured card cl of 200 which I hoping to close next month after I get these two new cards. 

 

Congrats you have amazing limits. :smileytongue:  can't wait until I get limits like that lol

Chase Freedom 3000
Chase Sapphire Preferred 5000
American Express Blue Cash Preferred 6300
Bank of America Travel Rewards 5000
Bank of America Cash Rewards 3000
Discover IT 4000
Best Buy 4000
TU 733 EQ 743 EX 722
Regular Contributor
mirachi
Posts: 146
Registered: ‎01-05-2013
0

Re: Advice!!!

What is your annual income? (CS has a minimum income requirement of $30,000/year)


Last app 5/7/2014

No apps until 3/31/2016!
Valued Contributor
thom02099
Posts: 1,348
Registered: ‎08-30-2011
0

Re: Advice!!!


kwinks wrote:

I just pulled tu 733, and eq 743. 

 

My util is at 18% today but will be 8% tomorrow after chase balance is 0. 

 

I have chase freedom cl of 3000

bofa cash rewards 500 

nordstroms 750

au on Macy's card 400 

and cap 1 secured card cl of 200 which I hoping to close next month after I get these two new cards. 

 

Congrats you have amazing limits. :smileytongue:  can't wait until I get limits like that lol


Just my opinion, but I think you'll have more of a chance to get an AMEX product than CSP,  even though you have the Freedom card. Chase likes to see a CL of at least $5k on a competing card.  Rather than going for the CSP, why not try CLI on the Freedom card?  Get the Freedom up to $5K,  apply for an AMEX product and shoot for a $5K limit there.  Then further down the road you could look at that CSP card!

Diners Club Premier MasterCard $50K / AMEX Gold NPSL / AMEX Zync NPSL / AMEX Blue Cash Preferred $14K / Bank of America Cash Rewards Signature Visa $15K / Merrill Lynch Plus Signature Visa $15K / Wells Fargo Propel 365 $15K / Chase Sapphire Preferred Signature Visa $10K / J P Morgan Select Signature Visa $10K / Chase Slate Visa $6K / CITI Diamond Preferred MasterCard $13.2K / Discover IT $10.5K / IberiaBank Select Visa $8K / 1st Command Bank Platinum Visa $7.5K // Home Depot $9.7K / Lowes $10K

EX = 799 EQ = 812 TU = 811 - 11/2014
Moderator
Revelate
Posts: 9,737
Registered: ‎12-30-2011
0

Re: Advice!!!

Thoms point about the CSP is generally commonly held, though admittedly it's a YMMV with regards to CSP; this is especially true if you have a relationship with Chase already.

 

I'd ask two questions, first, if you don't mind sharing, what is your income?  Chase appears to have something of a sliding scale for CSP approvals anecdotally, and secondly how long have your other cards been open for?  

 

I don't think you'll have a problem obtaining the Amex, and neglecting the CSP for the moment, I'd go Amex -> Chase CLI -> BOFA CLI personally.  

 

CSP, not sure as approvals there have been somewhat all over the map but Amex certainly appears to absolutely be easier to obtain currently; however, I think it'd be Amex -> CSP -> BOFA CLI.  I'd recommend throwing out the Freedom CLI for the time being if you are trying for the CSP.  I'd go this route as personally I'd get the likely approval done and out of the way first, let the CSP fall where it may, and expect the BOFA CLI to land on TU anyway which unless you live in the Midwest, is very unlikely to be hit by either Amex or Chase for the majority of people.

 

Hopefully others with more personal experience in CSP underwriting will chime in, and perhaps also with Amex/Chase combined apps.  I was close to instantly approved for a BCP, but my Freedom app is still pending :smileyhappy:.

 

Starting Score: EQ 561, TU 567, EX 599* (12/30/11, EX lender pull 12/29/11)
Current Score: EQ 04 673, EQ 8 707, TU 720, EX 702* (09/02/14, EX older)
Goal Score: 700 on EQ '04 (01/01/15)


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Contributor
kwinks
Posts: 78
Registered: ‎07-15-2012
0

Re: Advice!!!

Hi so my income, on the conservative side is 35,000. I think I put 33,000 on chase freedom application, more like 40-45000. 

Pmy chase freedom and Bank of America card will turn 1 next month :smileyhappy: anthin live in northern California. 

 

So I am thinking what I will so is get cli for bofa, and apply for Amex and chase csp. I just want to get apps out of the way and garden for the rest of my life....lol patience is definitely not my virtue 

 

thanks you guys for your help 

Chase Freedom 3000
Chase Sapphire Preferred 5000
American Express Blue Cash Preferred 6300
Bank of America Travel Rewards 5000
Bank of America Cash Rewards 3000
Discover IT 4000
Best Buy 4000
TU 733 EQ 743 EX 722
Contributor
kwinks
Posts: 78
Registered: ‎07-15-2012
0

Re: Advice!!!

* 1 year for the chase freedom and bofa cash rewards

Chase Freedom 3000
Chase Sapphire Preferred 5000
American Express Blue Cash Preferred 6300
Bank of America Travel Rewards 5000
Bank of America Cash Rewards 3000
Discover IT 4000
Best Buy 4000
TU 733 EQ 743 EX 722
Valued Contributor
TiggerDat
Posts: 1,070
Registered: ‎10-15-2011
0

Re: Advice!!!

Having the Freedom card might help with an Amex as it is a competing card to some degree.  However, they might want you to have more than one year of history.  Your utilization rate is good, so that will be a benefit.  I imagine if you try and get the Amex card, then the CSP will be easier to get. 

 

No one has yet asked, but do you have anything negative on your report?  A late payment within the last 2 years or something else?  This could also be a hassle.  I app'd for the Freedom card and was denied because of my student loan issue, even though it has been corrected and has been reporting as OK for the last 2 years.  Remember, with companies like Chase and Amex, credit score is not everything.  If you are declined for the Amex card you could always try to recon it, that's what I did with my Chase card!  While I did not get a good limit, I did get the card!  I am very happy to have that card and the new Discover It card, which also took a recon.  (Discover was also a fairly low limit, but twice that of Chase.  Now I am going to go crazy on the Chase card and BBVA Compass card to get those rewards in the next 3 months!  Nice thing is, I still won't pay a penny of interest!)



Rethink every purchase you make, before you make it. Use the card with the best rewards. Pay in full each month. Redeem rewards often. Use the cards online shopping for more discounts. Smile, knowing that being thrifty allows you to actually get more out of the same amount of money!
Contributor
kwinks
Posts: 78
Registered: ‎07-15-2012
0

Re: Advice!!!

Nope no negatives or anything bad on history...

 

congrats on the two cards. I'm so afraid of rejection lol but I'll probably apply for both tomorrow. I'm thinking bofa cli then Amex then csp....

 

fingers crossed

Chase Freedom 3000
Chase Sapphire Preferred 5000
American Express Blue Cash Preferred 6300
Bank of America Travel Rewards 5000
Bank of America Cash Rewards 3000
Discover IT 4000
Best Buy 4000
TU 733 EQ 743 EX 722

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