Need Advice On Next Move

[webhopper]

Discover is very good. You can get 5% cash back on travel if booked through the shop discover page link to expedia. I recently earned mucho cash back booking a cruise for the family using shop discover travel concierge desk. Food for thought...

[ACsteel]

I must agree with webhopper, I love my amazon visa card, when you pay out w/Amazon it is quick and fast, and you get 3x points. I always rack up points b/c I shop on Amazon all the time (if you buy a product online most chances are Amazon sponsors that product on their site), friends ask me to purchase them items and they give me cash for it (and usually give me a couple of dollars more lol), and the 2% on restaurants is nice, it even works on places like the burger shack Five Guys and Fries or any fast food place for that moment. Also using your points is easy, and at the end of the day, you can always get yourself a giftcard if you don't want to make a purchase. 

Also extra pro, points never expire, and no limits to the points you can get.

[webhopper]

I love that my amazon visa has no annual fee
also it makes checking out at amazon super easy. It gets automatically linked to your amazon account as soon as you are approved. Also; the limits can be nice and it can be upgraded to a visa signature if your profile fits the bill.

I think CSP is a good value for frequent traveler but for people who dont travel a lot; there are cards with a reward structure that is a better lifestyle fit.

[Alpha43]

I have considered the Amazon Visa at one point. You guys are making me question if I even need the CSP or not. I don't tend to travel often but the rewards seemed good enough. I sometimes shop at Amazon, but normally I shop at newegg for most of my electronic needs. Glad I have till October to decide on what fits my lifestyle best.

Thank you again for all the helpful feedback!

[LisaPA]

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@webhopper wrote:
Since you like to shop online... consider amazon visa by chase. 3% at amazon. 2% at restaurants; gas stations; drugstores; supermarkets 1% everywhere else Points can be redeemed at amazon; or for statement credit; or for travel; or for cash. Ive been happy with the card so far. I keep it in my wallet as a backup to zync. To use in case amex is not accepted. I could see value in having both a csp and an amazon card

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I have this card (which I used to love), but I never use it since I got the Citi Forward Visa - 5% on restaurants, music and books. Guess who counts as a bookstore? Amazon! Anything you buy there gets you 5x points. I used my points to get a free airline ticket to see my family after only 5 months.

[LS2982]

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@Alpha43 wrote:

Greetings all,

I have been a long time reader and I just want to thank all of those here who have really educated people like myself. I think on behalf of every new member here, a big thanks is in order!

Moving forward, I would like some advice from some of the experts here. I am currently looking to apply for the following three cards.

1. Chase Sapphire Preferred

2. Discover More

3. Macy's Amex

I just recently started to enter primeville via my Amex Blue card that I opened up back in May 2012. My Blue card started with a $2,000 limit but I just had it increased this month to $6,000 via the 3x rule I learned here (thanks again!). From my understanding, having a card limit over $5,000 now qualifies me for the Sapphire Preferred. I was planning to wait till October (would be six months since I opened with Amex) until I apply for my next card, however, I wasn't sure if I should apply for just the CSP or all three at once? Would if look bad to any of these lenders if I apply for all of them on the same day? Besides my new Amex from May I have no other inquiries from the past 2 years. Another question is would it be bad to apply in September? I have a few big expenses coming up that I would love to charge so that I may earn reward points/ cash back on the cards I would like to apply for. I would pay them in full so I'm worried about utilization.

My July Equifax FICO score (last checked in July 2012) was 778 which I understand is considered excellent. I don't have any lates, collections, etc. My current Average age of accounts is 2 years 1 month and my oldest account is just over 5 years old (see details below). For the record, my current ult. is about 1% across all accounts.

My wallet currently consists of the following:

Cap 1 Plat (oldest account) $1,000 Limit

GE Care One (Second Oldest CC) $1,000 Limit

Amex Blue Card (Just opened in May 2012) $6,000 Limit 

* P.S..- I plan to close my Cap1 soon after I get these new cards as it has an annual fee. I just never closed it due to it being my oldest account, I felt as if it might hurt my chances to apply for new accounts.*

So what do you guys think? Should I wait till October to apply and should I try to space them out or apply all at once? Much appreciated.

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I think you need to hold that AMEX blue for at least a year before going for CSP. The other 2 you should be fine to get, and I would app for 1 every 6 months space it out.

[Alpha43]

LS2982 - You know, I have heard talk that you need to have at least a year since your last app to get approved for the CSP, any truth to that story?

Also does anyone know if your credit limit gets reported even if it is a signature visa card?

[LS2982]

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@Alpha43 wrote:

LS2982 - You know, I have heard talk that you need to have at least a year since your last app to get approved for the CSP, any truth to that story?

Also does anyone know if your credit limit gets reported even if it is a signature visa card?

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Chase in general likes to see at least 2 cards with a year history and in the case of CSP a card in good standing for a year over 5K. I would say it can be YMMV but they usually stick to those standards in most cases.

[severine]

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@Alpha43 wrote:

LS2982 - You know, I have heard talk that you need to have at least a year since your last app to get approved for the CSP, any truth to that story?

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I can tell you from my own recent experience that this is not true: I was just approved for both a Chase Freedom and a Chase Sapphire Preferred last week. Before that I had apps in 4/12 (Discover) and 5/12 (bank visa) that were both approved.

[Alpha43]

severine - Thanks for your input. By the way, you have a great selection of cards!