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New cards opened, looking for some strategy help

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Anonymous
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New cards opened, looking for some strategy help

Hello all!

 

I just recieved an offer too good to refuse and picked up two new cards.  Amex Platinum and Premier Rewards Gold (see: AMEX Pre-qual. Should I app).  100,000 point bonus with a $3k / 3mo spend for the Platinum, 50,000 point bonus with a $1k / 3mo spend for the PRG.  I plan on achieving both of these bonuses.  My question now is, how can I optimally distrubute spending accross my other cards in order to increase my credit score.

 

I have a Chase Sapphire Preffered $16k CLI which I love.  Have held for 3 months now and just achieved in my 50,000 mile sign up bonus with them.  I have a Chase Freedom $6k CLI which has been sitting in the background since I got the CSP (this quarters 5% category doesn't affect me much), and I have a Citi DoubleCash $2.7k CLI which I hate.  5 cards now - two Amex, two Chase, and one Citi.

 

As of writing this my FICO is reporting as 770, but that is pre-hit for the two Amex approvals.  I am not yet sure what my FICO will be after that, but I am assuming it'll be a relatively substantial hit (see: FICO score miscalculation after new credit account opened?) due to AAoA and the hard pull (potentially two HP's but I'm hoping they merge).

 

What is the most score-beneficial way for me to distribute spending accross these new cards?  How does AMEX balance effect my utilization %?  Is it bad for me to have cards be unused for the month?  IE no charges and report a $0 balance on the statement.  Is it bad for these cards to report a $0 balance for multiple months?  

 

My current plan is as follows.  Put a majority of the spending on both AMEX cards so as to reach the spend goal.  -- another question....would it be better to only use one of the Amex's each month?  IE achieve the PRG $1k / 3mo spend in the first month, then tackle the Platinum $3k / 3mo spend the next two months? --- sorry, back to the plan.  Put a majority of the spending on either both or one of the Amex's.  Then, put a small balance > 1% util on the CSP.  Then put a small balance > 1% util on either the Freedom or DoubleCash.  That would leave me with one card (or two depending on the Amex spend strategy) reporting a $0 balance, and having zero charges throughout the month, and two (or three depending the Amex strategy) reporting a balance.  

 

Let me know your thoughts on all of the above -- I apologize in advance for the multitude of questions.  Having two new cards at once has thrown me for a loop!

 

Thanks

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