I've paid of my CC, now what?

[Anonymous]

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@Anonymous wrote:

For background information on my credit situation please view here: http://ficoforums.myfico.com/t5/General-Credit-Topics/Help-Me-Make-a-Plan-of-Action/td-p/4525183

Since then, I have paid off my cc, but not before Amazon decreased my store card limit to $1,200 from $1,900 (my total credit limit now is about $4,200 because I have a $3000 limit on my wells fargo college card).

My current scores are:

EQ - 751

TU - 749

EX - 744

The three cards I think that I want to get this year:

Chase Freedom

Chase Freedom Unlimited

AMEX Everyday Preferred

I've calculated based on my spend that these have the best rewards. I also would like to upgrade to the Amazon Prime Store Card if possible because I buy a lot of stuff on Amazon.

So what should I do from here? Would I get best results if I requested CLIs on my Amazon and Wells Fargo cards before applying? Or should I apply for all of them at once? Or should I wait some amount of time in between. If so, in what order should I apply?

Sorry for asking a lot of questions. Any help is greatly appreciated!

Thanks

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I would also look at themanwhocan's cash back charts in my signature just to be sure you have explored all options.  I would also only get the Amex EDP if you plan on transferring points to delta or flying blue, etc to get the most value.  And make sure that you get the best signup bonuses for any card you apply for.  There are many lists you can google that list historic cc offers so you know if you are getting a good deal or not.

As far as a increase with wells fargo, I dont think Ive ever heard any great WOW stories about that ever happening.

I would normally say ask for an increase on your amazon card, but with all these sync acocunts being frozen it is probably not the best idea. Especially since they just decreased your limit.  Others can chime in on that.

Have you checked chase to see if you are prequalified for any cards?   If it were me, I'd def focus on chase first due to their 5/24 rule, and depending on what categories you spend the most on, and what your annual spend is, pick either the freedom or freedom unlimited, and pair that with the chase sapphire preferred.  You can fly delta with one of chase's transfer partners.  Heck, with your scores, and if you weren't needing a home loan in the next 12 mos, I'd app for 4 cards. 1. CSP 2. Freedom, or FU on the same day. 3. Amex EDP with a 25-30k signup bonus and 4. PRG 60k or Platinum 100k bonus.

Amex the same day as chase if you can get the best offers, if not just wait.

If you weren't planning on redeeming your MR's for travel, or URs for travel, then there are better options for cash back.

[Anonymous]

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@Closingracer99 wrote:

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@Anonymous wrote:

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@Anonymous wrote:

I probably go with the Chase Freedom Unlimited since they approved me with $9500 limit. The AMEX Everyday Preferred approved me with a lower limit. But it really depending on your records and income. Good luck.

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But I want to get all three. Do you think it would be bad to apply to all 3 at once? Or is there a smarter way do it?

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The Everyday preferred card isn't that great unless you value MR points .... You're better off getting the BCP. 

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I am very travel oriented, so I figured that EPD would be best. Given that, do you still think BCP would be better?

[Anonymous]

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@Anonymous wrote:

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@Anonymous wrote:

For background information on my credit situation please view here: http://ficoforums.myfico.com/t5/General-Credit-Topics/Help-Me-Make-a-Plan-of-Action/td-p/4525183

Since then, I have paid off my cc, but not before Amazon decreased my store card limit to $1,200 from $1,900 (my total credit limit now is about $4,200 because I have a $3000 limit on my wells fargo college card).

My current scores are:

EQ - 751

TU - 749

EX - 744

The three cards I think that I want to get this year:

Chase Freedom

Chase Freedom Unlimited

AMEX Everyday Preferred

I've calculated based on my spend that these have the best rewards. I also would like to upgrade to the Amazon Prime Store Card if possible because I buy a lot of stuff on Amazon.

So what should I do from here? Would I get best results if I requested CLIs on my Amazon and Wells Fargo cards before applying? Or should I apply for all of them at once? Or should I wait some amount of time in between. If so, in what order should I apply?

Sorry for asking a lot of questions. Any help is greatly appreciated!

Thanks

---

I would also look at themanwhocan's cash back charts in my signature just to be sure you have explored all options.  I would also only get the Amex EDP if you plan on transferring points to delta or flying blue, etc to get the most value.  And make sure that you get the best signup bonuses for any card you apply for.  There are many lists you can google that list historic cc offers so you know if you are getting a good deal or not.

As far as a increase with wells fargo, I dont think Ive ever heard any great WOW stories about that ever happening.

I would normally say ask for an increase on your amazon card, but with all these sync acocunts being frozen it is probably not the best idea. Especially since they just decreased your limit.  Others can chime in on that.

Have you checked chase to see if you are prequalified for any cards?   If it were me, I'd def focus on chase first due to their 5/24 rule, and depending on what categories you spend the most on, and what your annual spend is, pick either the freedom or freedom unlimited, and pair that with the chase sapphire preferred.  You can fly delta with one of chase's transfer partners.  Heck, with your scores, and if you weren't needing a home loan in the next 12 mos, I'd app for 4 cards. 1. CSP 2. Freedom, or FU on the same day. 3. Amex EDP with a 25-30k signup bonus and 4. PRG 60k or Platinum 100k bonus.

Amex the same day as chase if you can get the best offers, if not just wait.

If you weren't planning on redeeming your MR's for travel, or URs for travel, then there are better options for cash back.

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Yes, that is almost exactly my plan! I just got out of debt and am therefore saving up to travel next year-- which is when I plan on getting CSP to redeem the points. I also plan on getting PRG next year when my spend will be slightly higher to justify the AF.

Do you know if its ok to apply to two chase cards on the same day? I can't get a definitive answer.

Also, yeah that makes sense, I won't ask for CLIs on my already existing cards then! Thanks!

Edit: you also say: "Freedom, or FU on the same day" is there a reason why I can't have both Freedom and FU?

[Closingracer99]

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@Anonymous wrote:

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@Closingracer99 wrote:

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@Anonymous wrote:

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@Anonymous wrote:

I probably go with the Chase Freedom Unlimited since they approved me with $9500 limit. The AMEX Everyday Preferred approved me with a lower limit. But it really depending on your records and income. Good luck.

---

But I want to get all three. Do you think it would be bad to apply to all 3 at once? Or is there a smarter way do it?

---

The Everyday preferred card isn't that great unless you value MR points .... You're better off getting the BCP. 

---

I am very travel oriented, so I figured that EPD would be best. Given that, do you still think BCP would be better?

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If you use one of their partners sure the EPD is good but if you don't the BCP would be better. I like to use AA or JetBlue which aren't Amex Partners so MR points are worthless for me.

[Anonymous]

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@Anonymous wrote:

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@Anonymous wrote:

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@Anonymous wrote:

For background information on my credit situation please view here: http://ficoforums.myfico.com/t5/General-Credit-Topics/Help-Me-Make-a-Plan-of-Action/td-p/4525183

Since then, I have paid off my cc, but not before Amazon decreased my store card limit to $1,200 from $1,900 (my total credit limit now is about $4,200 because I have a $3000 limit on my wells fargo college card).

My current scores are:

EQ - 751

TU - 749

EX - 744

The three cards I think that I want to get this year:

Chase Freedom

Chase Freedom Unlimited

AMEX Everyday Preferred

I've calculated based on my spend that these have the best rewards. I also would like to upgrade to the Amazon Prime Store Card if possible because I buy a lot of stuff on Amazon.

So what should I do from here? Would I get best results if I requested CLIs on my Amazon and Wells Fargo cards before applying? Or should I apply for all of them at once? Or should I wait some amount of time in between. If so, in what order should I apply?

Sorry for asking a lot of questions. Any help is greatly appreciated!

Thanks

---

I would also look at themanwhocan's cash back charts in my signature just to be sure you have explored all options.  I would also only get the Amex EDP if you plan on transferring points to delta or flying blue, etc to get the most value.  And make sure that you get the best signup bonuses for any card you apply for.  There are many lists you can google that list historic cc offers so you know if you are getting a good deal or not.

As far as a increase with wells fargo, I dont think Ive ever heard any great WOW stories about that ever happening.

I would normally say ask for an increase on your amazon card, but with all these sync acocunts being frozen it is probably not the best idea. Especially since they just decreased your limit.  Others can chime in on that.

Have you checked chase to see if you are prequalified for any cards?   If it were me, I'd def focus on chase first due to their 5/24 rule, and depending on what categories you spend the most on, and what your annual spend is, pick either the freedom or freedom unlimited, and pair that with the chase sapphire preferred.  You can fly delta with one of chase's transfer partners.  Heck, with your scores, and if you weren't needing a home loan in the next 12 mos, I'd app for 4 cards. 1. CSP 2. Freedom, or FU on the same day. 3. Amex EDP with a 25-30k signup bonus and 4. PRG 60k or Platinum 100k bonus.

Amex the same day as chase if you can get the best offers, if not just wait.

If you weren't planning on redeeming your MR's for travel, or URs for travel, then there are better options for cash back.

---

Yes, that is almost exactly my plan! I just got out of debt and am therefore saving up to travel next year-- which is when I plan on getting CSP to redeem the points. I also plan on getting PRG next year when my spend will be slightly higher to justify the AF.

Do you know if its ok to apply to two chase cards on the same day? I can't get a definitive answer.

Also, yeah that makes sense, I won't ask for CLIs on my already existing cards then! Thanks!

Edit: you also say: "Freedom, or FU on the same day" is there a reason why I can't have both Freedom and FU?

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You can apply for two chase cards on the same day,  (chase usually pulls 1 report but sometimes two). I dont see why you couldnt get the freedom and freedom unlimited, but I am not sure.  But really the freedom unlimited is only worth it if you get the CSP (or ink plus)  and run all your spend through it, after you have maxed out all the category spend of the freedom.

Theoretically you would be getting an extra bonus with getting both freedoms, but you would want to calculate your annual non category spend that would either be 1x on the freedom or 1.5x on the FU, and see if it makes a big enough difference.  The most URs you'll earn on the freedom at 5x is 30k/$300, but could easily be worth double that or more when transferred to partners.  If you are a big spender you could justify having the csp, f, and fu.

Going for 3 chase cards in one day is not advised.  I think the max is 2/30 days.  But if you did do the freedom and freedom unlimited, and saved up your URs, then added the CSP later (in 6 months) so long as you were under 5/24 then you could begin transferring to partners. Who knows what the csp bonus would be then, could be higher, could be lower.

Did you check chase to see if you are prequalified?  I would hate to see you in a situation where you somehow got denied for the CSP or ink+ and then your UR transferability is ruined.  I would get the CSP and pick the freedom that most aligns with your spending.  Dont forget to add authorized users to both and make a purchase with those cards, as you will get an extra bonus.  Chase does not ask for SSN, so I would probably make the AU someone who doesnt live with you that you trust that way these dont show up on their reports.  And close the AU cards after the bonus posts.  The cards will be mailed to you but there is still a risk they could call in and make changes to your account.

[Anonymous]

Why did they lower your Amazon Store card limit?