Applying for Chase Freedom while waiting for BCE

[zerobacan]

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@enharu wrote:

the freedom is a lot easier to get than the BCE.

Only because Chase approves people with less than ideal credits for toy limits (250-500). 

If you really want a Chase freedom, you might as well just go ahead right now. 

Apply for the cards you need, not for the sake of applying to raise CL

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yes

inqs show instantly in your CR.

and if you get approved, separating your apps with a good time, increases your chances of not looking desperate for new credit = high rish

[Anonymous]

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@enharu wrote:

Apply for the cards you need, not for the sake of applying to raise CL

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To be honest, I think I am just applying to raise CL. I kinda want to have a couple accounts and then just sit on them until at least when I graduate in a year and a half when I expect my income to be in the mid 50s, then maybe apply for something like the CSP.

As far as needing more cards, I don't really need any because I have the Gold card, but would like the BCE for the points and to actually have a credit card and not just a charge card. The same goes for the Freedom. Is this not a good idea? I just want to do some HPs now while I don't really need that high of a credit score, then let it grow for the next few years until I actually need might it for an auto loan, mortgage, credit checks for apartment rental, etc. Does this make sense or a bad idea?

[ryanbush]

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@Anonymous wrote:

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@enharu wrote:

Apply for the cards you need, not for the sake of applying to raise CL

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To be honest, I think I am just applying to raise CL. I kinda want to have a couple accounts and then just sit on them until at least when I graduate in a year and a half when I expect my income to be in the mid 50s, then maybe apply for something like the CSP.

As far as needing more cards, I don't really need any because I have the Gold card, but would like the BCE for the points and to actually have a credit card and not just a charge card. The same goes for the Freedom. Is this not a good idea? I just want to do some HPs now while I don't really need that high of a credit score, then let it grow for the next few years until I actually need might it for an auto loan, mortgage, credit checks for apartment rental, etc. Does this make sense or a bad idea?

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What you are doing is a good idea, it seems like you have it all figured out.

[Anonymous]

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@ryanbush wrote:

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@Anonymous wrote:

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@enharu wrote:

Apply for the cards you need, not for the sake of applying to raise CL

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To be honest, I think I am just applying to raise CL. I kinda want to have a couple accounts and then just sit on them until at least when I graduate in a year and a half when I expect my income to be in the mid 50s, then maybe apply for something like the CSP.

As far as needing more cards, I don't really need any because I have the Gold card, but would like the BCE for the points and to actually have a credit card and not just a charge card. The same goes for the Freedom. Is this not a good idea? I just want to do some HPs now while I don't really need that high of a credit score, then let it grow for the next few years until I actually need might it for an auto loan, mortgage, credit checks for apartment rental, etc. Does this make sense or a bad idea?

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What you are doing is a good idea, it seems like you have it all figured out.

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Lol, I'm trying. Still learning, but I like to think I'm a quick learner and you guys have certainly been helpful. I was going to say I'll wait to apply for the Freedom until I know if I get the BCE just in case I get it, so that way maybe I'll get a higher Freedom limit, but doesn't it take 6 months to start posting or something? I think if thats the case it makes more sense to do it all at once and just let it grow from there, whether I get one of them, both of them, or none of them.

[youngandcreditwrthy]

I use Freedom and Amex...
They each have their own advantages.
Imo, you'd get approved.

[youngandcreditwrthy]

Even if you get approved for the BCE, Amex wont report it for a month or two lol

[ryanbush]

My Chase account started posting to the CRAs within 45 days of the account opening.

[enharu]

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@Anonymous wrote:

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@enharu wrote:

Apply for the cards you need, not for the sake of applying to raise CL

---

To be honest, I think I am just applying to raise CL. I kinda want to have a couple accounts and then just sit on them until at least when I graduate in a year and a half when I expect my income to be in the mid 50s, then maybe apply for something like the CSP.

As far as needing more cards, I don't really need any because I have the Gold card, but would like the BCE for the points and to actually have a credit card and not just a charge card. The same goes for the Freedom. Is this not a good idea? I just want to do some HPs now while I don't really need that high of a credit score, then let it grow for the next few years until I actually need might it for an auto loan, mortgage, credit checks for apartment rental, etc. Does this make sense or a bad idea?

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i would say you're doing fine.

the gold card is a charge card with no limit, so getting a revolving card with limit will help a lot.

If you can get approved for the BCE, i would say you have a decent shot at the CSP instead of having to get the freedom. But, the freedom has good rewards so it's good to get that card. I am a little confused though, is your score 660 or 700+?
Chase pulls Experian as well (i think).

Your Amex is going to be a SP is declined, HP if approved since you're a current amex member.

Anyways the most important part is to find out what your score is and then decide if you want to apply now or later.

If you think you can increase your score by quite a bit over the next 6 months (such as inquiries falling off soon or lates falling off soon, or paying down debt), then wait to apply for the freedom. Apply with a good score and get a decent CL than to get a toy card with a few hundred CL.

It is hard to be a "big spender" on a card with just a few hundred CL because it will just screw up utilization. At the same time banks like it and want to see that you're using a card a lot.

[Anonymous]

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@enharu wrote:

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i would say you're doing fine.

the gold card is a charge card with no limit, so getting a revolving card with limit will help a lot.

If you can get approved for the BCE, i would say you have a decent shot at the CSP instead of having to get the freedom. But, the freedom has good rewards so it's good to get that card. I am a little confused though, is your score 660 or 700+? Well for EX it shows 710 on AMEX and 660 on Equifax.com because that already is showing an inquiry for the BCE.
Chase pulls Experian as well (i think).

Your Amex is going to be a SP is declined, HP if approved since you're a current amex member.Good to know, thank you.

Anyways the most important part is to find out what your score is and then decide if you want to apply now or later.

If you think you can increase your score by quite a bit over the next 6 months (such as inquiries falling off soon or lates falling off soon, or paying down debt), then wait to apply for the freedom. Apply with a good score and get a decent CL than to get a toy card with a few hundred CL. I'll look into that, I have an inquiry on EQ coming off in April for my stupid BML thing I applied for without thinking, but my AMEX Gold inquiry doesn't fall off EX and TU until August. I'm not sure if it would make sense to wait that long to apply for the Freedom/something else after the BCE? 

It is hard to be a "big spender" on a card with just a few hundred CL because it will just screw up utilization. At the same time banks like it and want to see that you're using a card a lot.

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Responses in green. I feel that as long as I get at least 1k it makes sense for me, because I never plan to carry a balance. I usually pay my AMEX before my bill closes. In fact, this one month I happened to forget and paid it off after my bill closed, so now for some reason its saying I have a $900 balance, which is kind of stupid if you ask me because I don't have a balance, I just PIF after the bill closed instead of before like I normally do. So I guess its possible next month my "balance" would report as $0. Maybe it would be best to do the Freedom card then.

[ryanbush]

It's a charge card, doesn't affect utilization.  If anything it will let Chase know you can charge quite a bit each month and PIF.  I think the biggest reason I got approved for my CSP was I had a 2700$ balance ony my AMEX.  They kept saying I didn't have any cards at 5k, I let them know I charged quite a big on my AMEX and they went ahead and approved me.