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Can a PC to CSP scratch that itch for me?

Valued Contributor

Re: Can a PC to CSP scratch that itch for me?

My long term plan for that OB card is to keep pushing until it's a Cap1 World Mastercard.  For some reason it amuses me to think that my 300 dollar OB card could morph into that.

3-26-15: FICO EXP: 828 - EQU:820 - TRAN: 828 - AVG: 825 +275 points from JUN 2008 - MY CREDIT JOURNAL

Message 11 of 17
Valued Contributor

Re: Can a PC to CSP scratch that itch for me?


p- wrote:

Maybe...  If I end up waiting to app, I can just close another card.  I already have more than I need.

 

The Orchard is my oldest...  If Cap1 finishes the transition, and PC's me to another green cash, maybe I should close the newer one after I am approved for CSP.  Then I would only have 1 Cap1 card, but two chase cards.  The hit to my AAOA wouldn't be too bad, I guess.

 

 


What is your AAoA right now?

Chase Sapphire Perferred | Chase Freedom | AMEX Platinum | AMEX Delta Platinum | AMEX SPG | Capital One Venture | Capital One Quicksliver | Discover IT | ABFCU Visa | Citi AA WEMC
Message 12 of 17
New Contributor

Re: Can a PC to CSP scratch that itch for me?

Get the house ASAP (i.e. as soon as you have 5% UTL and no inquiries in 12 months), and then go on a massive app spree before the mortgage starts reporting.

But, if you make money on apping - say, you get a 100k point Amex offer - apply. $1000 now is worth more than ~$3000 over the course of the next 30 years in absolute terms (inflation at 3-5% a year), and $1000 now is worth more than $5000 (or more) over the course of 30 years, spread out in the form of three dollar per month (or less) payments in relative value.

As a previous poster said, inquiries are over-weighted here, and by some (non-FICO) scoring systems, such as Credit Karma's. You don't want many pulls in the next twelve months, but one isn't going to hurt you in any major way, and may even help you if you get the 40k Chase UR signup bonus (not even counting using it on taxis and/or overseas and/or flights, where it's superior to my PRG).

Example: I have 29 hard pulls on TransUnion, so I couldn't get 0% financing on a car (it was just under 7%... pretty bad), but I can get all of the CCs as long as they're not from Barclay's. Barclay's seems to have a hard-and-fast rule about more than 3 inquiries in 6 months.


Goal: 760 by End of Year
Current Score: 714 TU (2-3/12); 681 EQ (2-3/12); 714 EX (AmEx Pull: 2-7/12); 777 VantageScore (2-3/12)
AmEx BCE ($4k) - AmEx SPG ($7.5k) - Amex PRG (NPSL) - Citi Forward ($7.6k) - Discover IT ($3k) - BankAmericard Cash Rewards ($5k)
Chase Freedom ($1k) - Chase Amazon ($3k) - PayPal Extras ($6k) - Cap One Cash ($0.5k) - Amazon Store ($2.5k)

Application-Free Since the 14th of the Second May of 2012.
Message 13 of 17
Valued Contributor

Re: Can a PC to CSP scratch that itch for me?


ryanbush wrote:  What is your AAoA right now?

4.17

3-26-15: FICO EXP: 828 - EQU:820 - TRAN: 828 - AVG: 825 +275 points from JUN 2008 - MY CREDIT JOURNAL

Message 14 of 17
Valued Contributor

Re: Can a PC to CSP scratch that itch for me?


Chrysostom wrote:  Get the house ASAP and then go on a massive app spree before the mortgage starts reporting.

I already have a mortgage that has been reporting for 4 years.  I don't think swapping it for another one will affect whether or not I qualify for the CSP; Chase gave me 10k on a freedom so I'm guessing I'll hit at least 5 to 10k on a CSP if I app now, later, or anytime.  And we'll make a move on a house when the right one comes along.  That game works better with patience in my experience.  We're looking for a house that needs a small amount of work within my ability, in a specific part of town with a lot of square footage and outdoor space.  That could take time.

 

My days of app sprees are long since over.  I'm not a "flyer" type milking every cent out of each bonus offer, or interested in having a six inch thick wallet.  I want a handful of cards with high limits and useful features, and a credit report clean enough to qualify for the best home, auto, and other offers I may want.  I personally don't think a few hundred bucks is worth the short term and long term effect on creditworthiness.

 

But I want a shiny metal card too, just for personal amusement...  That's really what's driving this desire.

 

 

3-26-15: FICO EXP: 828 - EQU:820 - TRAN: 828 - AVG: 825 +275 points from JUN 2008 - MY CREDIT JOURNAL

Message 15 of 17
New Contributor

Re: Can a PC to CSP scratch that itch for me?

From my knowledge, as long as it's over 2, that's good for mortgages. The more cards you have, the less new ones hurt AAoA.

Edit: I am the "flyer-type", so YMMV. Pun intended.


Goal: 760 by End of Year
Current Score: 714 TU (2-3/12); 681 EQ (2-3/12); 714 EX (AmEx Pull: 2-7/12); 777 VantageScore (2-3/12)
AmEx BCE ($4k) - AmEx SPG ($7.5k) - Amex PRG (NPSL) - Citi Forward ($7.6k) - Discover IT ($3k) - BankAmericard Cash Rewards ($5k)
Chase Freedom ($1k) - Chase Amazon ($3k) - PayPal Extras ($6k) - Cap One Cash ($0.5k) - Amazon Store ($2.5k)

Application-Free Since the 14th of the Second May of 2012.
Message 16 of 17
Valued Contributor

Re: Can a PC to CSP scratch that itch for me?


Chrysostom wrote:

From my knowledge, as long as it's over 2, that's good for mortgages. The more cards you have, the less new ones hurt AAoA.

Edit: I am the "flyer-type", so YMMV. Pun intended.


Smiley Very Happy

 

 

3-26-15: FICO EXP: 828 - EQU:820 - TRAN: 828 - AVG: 825 +275 points from JUN 2008 - MY CREDIT JOURNAL

Message 17 of 17