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Chase Sapphire Preferred coupled with BofA 3/2/1

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LosAngeles007
New Member

Chase Sapphire Preferred coupled with BofA 3/2/1

Hi Everyone,

 

I am new to myFICO and I am looking to the community for some advice. 

 

I currently have a BofA Travel Rewards (TR) card and a card with my credit union without any rewards. I really like the Chase Sapphire Preferred (CSP) since I travel and eat out  a lot. I was planning to convert my BofA TR card to a 3/2/1 Cash Rewards card and apply for the CSP.  Does this sounds like a good idea? Do they pair well? I also thought about cancelling the BofA account all together due to my poor expierence with their customer service and getting a Chase Freedom card to couple with a CSP. That is if it is possible to apply for both at the same time. Any advice or alternatives are greatly appreciated.

 

I typically spend anywhere from $2000 - $3000 a month on my credit card and pay the balances in full every month.

 

Thank you,

 

007

Message 1 of 19
18 REPLIES 18
fot1
Established Contributor

Re: Chase Sapphire Preferred coupled with BofA 3/2/1

I would suggest the CSP and Freedom.. It if really want to take advatage switch to chase checking for the %10 and %7 bonus as well.. I don't know anything bout BoA cards so can't comment on that.

Too many to list..
Message 2 of 19
j_casteel
Valued Contributor

Re: Chase Sapphire Preferred coupled with BofA 3/2/1

I have all 3 and have great experiences with them all.

Freedom/CSP together work great for building UR points for travel.

BoA is great everyday card spending outside the Chase categories.
Learning from my past and rebuilding..

BK discharged 1/10/17
scores: EQ 659 | TU 630 | EX 659

QS 3.8K | WF 500 | Cabela's 3k | ACU 500 |

Message 3 of 19
LosAngeles007
New Member

Re: Chase Sapphire Preferred coupled with BofA 3/2/1

Do you have BofA TR or Cash Rewards? Should I convert my TR to Cash Rewards? Do you think  it is worth it to apply for both sapphire and freedom? 

Message 4 of 19
j_casteel
Valued Contributor

Re: Chase Sapphire Preferred coupled with BofA 3/2/1

I have the 123 Cash Rewards card, and I focus my travel rewards with my Chase products. You most definitely can PC the card if you like to.

You can apply for both the Freedom and CSP the same day/week/month it doesn't matter.

I suggest checking the Chase prequal site for any preapprovals and go from there. From my experience and many others on here the Chase preapprovals are damn near guaranteed of course YMMV.
Learning from my past and rebuilding..

BK discharged 1/10/17
scores: EQ 659 | TU 630 | EX 659

QS 3.8K | WF 500 | Cabela's 3k | ACU 500 |

Message 5 of 19
lg8302ch
Senior Contributor

Re: Chase Sapphire Preferred coupled with BofA 3/2/1

I have both the Travel and Cash rewards card but do not use the Cash rewards card anymore. My recommendation would be Freedom and CSP. If your profile warrants the CSP I would recommend to apply for this card first and wait 3-6 months and then apply for Freedom. Why?  Chase tends to hand out Platinum cards only with horrible APR if it's your first Chase card. I have my Freedom now for 15 months and at time of app my Fico was 790 but Chase gave me 22,99% APR and today with 810 Fico I am constantly denied for the Signature version of the Freedom due to high APR. Chase has really funny policies....they issue you Signature cards with 15K limits but the oldest account with 5K limit is not eligible for conversion. If I had known how Chase is ticking I would have applied for the CSP and added the Freedom later. I am sure the result for Freedom would have been different. I will bother Chase once a months with my conversion request until my 2 year anniversary and then cancel the card if no success Smiley Sad

Message 6 of 19
takeshi74
Senior Contributor

Re: Chase Sapphire Preferred coupled with BofA 3/2/1


@LosAngeles007 wrote:

I currently have a BofA Travel Rewards (TR) card and a card with my credit union without any rewards. I really like the Chase Sapphire Preferred (CSP) since I travel and eat out  a lot. I was planning to convert my BofA TR card to a 3/2/1 Cash Rewards card and apply for the CSP.  Does this sounds like a good idea? Do they pair well?


If it suits your spend and you're happy with the rewards.  I get 6% on groceries with my BCP and 5% with my PPCR (no limit on reward) so it's not a solution that I would go for but it's really your call to make.

 


@lg8302ch wrote:

Chase tends to hand out Platinum cards only with horrible APR if it's your first Chase card.


You have the causality reversed.  It really depends on one's credit.  Chase doesn't arbitrarily hand out Platinums with high APR's on first approval.  My wife's first Chase card was a Signature.  My first was a World.  Both of those are fixed APR rewards cards so there was no horrible APR.  If one only qualifies for Platinum then one will get Platinum.  If one only qualifies for a horrible APR then one will get a horrible APR.  If one qualifies for better then one will get better.  It's really no different than it is with any creditor.

Message 7 of 19
mongstradamus
Super Contributor

Re: Chase Sapphire Preferred coupled with BofA 3/2/1


@takeshi74 wrote:

@lg8302ch wrote:

Chase tends to hand out Platinum cards only with horrible APR if it's your first Chase card.


Depends on one's credit.  My wife's first Chase card was a Signature.  My first was a World.  Both of those are fixed APR rewards cards so there was no horrible APR.  If one only qualifies for Platinum then one will get Platinum.  If one only qualifies for a horrible APR then one will get a horrible APR.  If one qualifies for better then one will get better.


Everytime i think about my freedom , i know i really should have waited till my credit was better to apply :-(



EX Fico 804 11/16/16 Fako 800 Credit.com 11/16/16
EQ SW bank enhanced 11/16/16 839 CK fako 822 11/16/16
TU Fico discover 10/19/16 814 Fako 819 Creditkarma 11/16/16
Message 8 of 19
bigblue7722
Valued Contributor

Re: Chase Sapphire Preferred coupled with BofA 3/2/1

Ditch the BOA card. Get a freedom/CSP and Sallie Mae card. The sallie mae card kicks the crap out of the boa 123 card execpt for the lower caps. 

AMEX PRG NPSL,Lowes $17000,Capital One venture card $12,000,Us Airways mastercard $9500,Fidelity Amex $9000, Discover it $8000, Capital One Venture One $7500, BOA 123 rewards $7500 CSP $6000, Capital One Quicksliver $5500, Amazon Store card$5000,Barclay
Card Ring $5000 Chase Marriott $5000,Chase Hyatt $5000, Sallie Mae Mastercard $4400, Paypal smart connect $4000,Chase Freedom $3200, Capital one Quicksliver visa $3000, Chase IHG Rewards $2300, Chase Southwest Premier $2000, Citi Double Cash $1500, AMEX BCE $1000

Last app July 22nd 2015- No apps for two years.
Message 9 of 19
mongstradamus
Super Contributor

Re: Chase Sapphire Preferred coupled with BofA 3/2/1


@bigblue7722 wrote:

Ditch the BOA card. Get a freedom/CSP and Sallie Mae card. The sallie mae card kicks the crap out of the boa 123 card execpt for the lower caps. 


Reason i think he was going for boa card is to not have to take another pull since he could PC travel rewards card to 3-2-1 card. 



EX Fico 804 11/16/16 Fako 800 Credit.com 11/16/16
EQ SW bank enhanced 11/16/16 839 CK fako 822 11/16/16
TU Fico discover 10/19/16 814 Fako 819 Creditkarma 11/16/16
Message 10 of 19
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