I've paid of my CC, now what?

[Anonymous]

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

[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'll make one comment.  There is no difference between the Amazon store card and the Prime card except that you sign up for Amazon Prime.  Your card automatically becomes a Prime card.

[Anonymous]

Lol really? So this whole time I could have been getting 5% back on everything?? Dang. 

Edit:I just figured that it would say prime in the checkout option, because this is what it looks like:  

[Anonymous]

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@Anonymous wrote:

Lol really? So this whole time I could have been getting 5% back on everything?? Dang. 

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True but keep in mind that Prime Membership costs if I remember correctly, $95 so for the Prime card to be worthwhile you would need to spend at least $2K a year to break even.  The real benefit however of Prime membership are the other benefits like 2 day shippin, Prime video and other ones you should check out to make sure it's worthwhile for you.

[Anonymous]

Yeah totally. I've had prime for years though. I agree, I wouldn't get it just for that. I think it would probably have to be more than $2,000/year too because you have to also incorporate the opportunity cost of not using another rewards card.

[Anonymous]

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@Anonymous wrote:

Yeah totally. I've had prime for years though. I agree, I wouldn't get it just for that. I think it would probably have to be more than $2,000/year too because you have to also incorporate the opportunity cost of not using another rewards card.

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This is very true as well. I buy a lot from Amazon but Ive used my Freedom, Sallie Mae and Discover cards for it because one or the other always seems to have 5% or better program going on.  Thats why though I was tempted at one time to get the Amazon card, I did not and probably wont ever unless these cards or other stop giving incentives to buy from Amazon.

[Anonymous]

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.

[Anonymous]

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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?

[Closingracer99]

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@Anonymous wrote:

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@Anonymous wrote:

Lol really? So this whole time I could have been getting 5% back on everything?? Dang. 

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True but keep in mind that Prime Membership costs if I remember correctly, $95 so for the Prime card to be worthwhile you would need to spend at least $2K a year to break even.  The real benefit however of Prime membership are the other benefits like 2 day shippin, Prime video and other ones you should check out to make sure it's worthwhile for you.

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Yeah it is basically an AF of $99 with the perks of free 2 day shipping and sometimes same day shipping, Lame music app, Prime Video, This service which gives you free books to own that aren't out yet each month, Kindle lending library ( you need a kindle for it), and 5% CB on the store card.... Honestly I am fairly certain I am going to cancel my prime atfer mines expires because its not worth $99 a year considering i get free 2 day shipping with shoprunner with my Amex cards and can easily walk to get what i want with everything else... I like the shipping perk but TBH I stopped shopping on Amazon because of their polcies and just not that great pricing... Also lost a few items and few shipments didn't come on time...

[Closingracer99]

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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.