Hello fellow credit card enthusiasts!
First of all, thank you so much to everyone who contributes to these forums. This has always been my go-to place for any information regarding credit.
That said, some background - my first credit card was a Discover (1750 limit) that I applied for 10 months ago - so my credit history is still very new. Since then, I have been approved for American Express (10k initial credit limit, recently increased to 25k). And then I took the CapitalOne Quicksilver card (3k initial limit, just upped to 5k). Now, just two days ago, I got approved for my fourth credit card - a Chase Sapphire Preferred with a credit limit of 15k.
I was a student until a month ago; just started my first job. I haven't had a lot of money, and therefore haven't put a lot of spend on any of these cards (average $300-$500 per month combined). Creditkarma displays my scores at 737. I have 7 credit inquiries in my short 1 year credit history.
Given all of this, how likely am I to be approved for a Chase Freedom if I applied soon? The reason I want to apply for Freedom is to produce Ultimate Reward Points faster and to use them in conjunction with my Sapphire Preferred.
Any tips appreciated! Thank you so much 
That sounds like good advice. I have to spend $4k on the Sapphir Preferred within the next 90 days anyway, so no point in getting Freedom right away. I was just itching to apply for another card but I guess I best wait 3 months. 
Also, a question about the 5/24 rule - is it that you have 5 or more credit cards, or that you have applied for 5 or more?
Here are the credit card related hard pulls on my profile:
Discover (initial application)
Discover (stupidly asked for a credit limit increase 1 month after applying and failed)
CapitalOne (they asked for documentation, I procrastinated and the 30 day period ended, application rejected)
AmEx (approved)
CapitalOne (applied again, approved)
Chase (Sapphire Preferred application, approved)
I also applied for PNC credit card before Discover and got denied, but that doesn't seem to show up in my credit report.
So I'm just wondering - I have 4 cards now, but 6 card related inquiries. Which one do they see for the 5/24 rule?
And thank you!
Honestly the convoluted rules and regulation that surround the 5/24 can be mind boggling, however I'm sure you are fine if you apply for nothing else before applying for the freedom.
and your welcome
My spend was $300-$500 since I was a student with low income. I applied for the CSP because I'm renting a new apartment now and need to buy furniture, TV, new PC and the Oculus Rift, etc. and I thought putting all that spend on a new credit card for rewards would be a good idea. I'm hopeful of hitting 4k within 3 months.
But honestly I'm still surprised I got approved for SP. I was pretty sure I'd get denied since it doesnt seem to be an easy-to-get card, but they not only approved me but also gave a fantastic credit limit! My friend who has been on the same boat as me with building credit, except that his credit utilization is fairly high (~50% most times) applied for a Freedom and got approved... for a $500 credit limit. Yes, $500. What a joke. Man is he pissed!
I don't understand the algorithms these people use!
I'm hopeful of hitting 4k within 3 months.But honestly I'm still surprised I got approved for SP. I was pretty sure I'd get denied since it doesnt seem to be an easy-to-get card, but they not only approved me but also gave a fantastic credit limit! My friend who has been on the same boat as me with building credit, except that his credit utilization is fairly high (~50% most times) applied for a Freedom and got approved... for a $500 credit limit. Yes, $500. What a joke. Man is he pissed!
I don't understand the algorithms these people use!
@Anonymous wrote:
My spend was $300-$500 since I was a student with low income. I applied for the CSP because I'm renting a new apartment now and need to buy furniture, TV, new PC and the Oculus Rift, etc. and I thought putting all that spend on a new credit card for rewards would be a good idea.
But honestly I'm still surprised I got approved for SP. I was pretty sure I'd get denied since it doesnt seem to be an easy-to-get card, but they not only approved me but also gave a fantastic credit limit! My friend who has been on the same boat as me with building credit, except that his credit utilization is fairly high (~50% most times) applied for a Freedom and got approved... for a $500 credit limit. Yes, $500. What a joke. Man is he pissed!
I don't understand the algorithms these people use!
yeah they are a little strange... my buddy applied for CSP last month and was approved with 8400 CL, he has perfect payment history but only had 2 credit cards for the last 18 years or so, and 2 auto loans so his file is quite thin.
well the minimum approval for the CSP is $5k. i hope you have the money saved for your furniture and paying off the CSP
i hope you meet your spend without over spending but, again, really evaluate the need for the freedom. you have a discover it with the double cash promo.
what is your monthly spend going to average now that you're out of school?
i hope you meet your spend without over spending but, again, really evaluate the need for the freedom. you have a discover it with the double cash promo.
what is your monthly spend going to average now that you're out of school?
