@nj23 wrote:Yes, maybe you're right about the Sallie Mae, It just seems like the most well-liked of the Barclay cards. Maybe I'll just do the Rewards one, although I'm not entirely against travel rewards - maybe I'd do more traveling if I had rewards. Well, I'll probably do all 4, and in case I'm denied one or two, I'll have (hopefully) at least two approved, and then in 6-12 mos I can ask for a CLI, wherever possible. I'm not planning on applying for any additional credit after these apps for awhile, although I may be looking for an apartment at some point before the inquiries drop off.
Thanks
I think what Revelate is saying is that usually the Sallie Mae gets you more money back in most scenarios than the BCE. They wonder what the choice of BCE is about? MSD? Backdating? Good sign up bonus? Just curious.
It is a great choice for a card, and I think it should be the first TU pull, then whatever card may be TU afterwards since Barclays is pretty INQ sensitive.
I would like to have a good variety of cards/processors, and AMEX cards seem to be well-liked, in general, plus they don't seem to be super stingy with credit lines and CLI...but if you can think of any other well liked cards that have non-travel rewards (not mentioned already), maybe I'll go for one of those instead. I end up doing a lot of food spending, i.e. groceries, restaurants, etc. My current AAoA is 7 years, so if I do get approved for 3-4 new cards, it will take a hit.
Thanks
The Sallie Mae gets more rewards than a BCE, under all spending patterns. And if you consistently exceed $250 monthly spend on either Grocery or Gas Station purchases, you can always wait 6 months and apply for a second Sallie Mae card.
@nj23 wrote:Next month I plan on applying for some additional cards. Expect EQ and EX to be around 700 and TU 750 (will pull before apps). I would like to apply for the following, but let me know if I'm being too...optimistic...and if four is too many pulls at once:
Discover IT (received offer)
Sallie Mae Barclay
AMEX BCE (I prefer non-travel rewards)
Chase Freedom or Sapphire
Only baddie on all reports are a few lates on an auto loan nearly 7 years old. Will be at 1-2% util. Currently have quicksilver 2250 and target store card 200. Oh, and all of the above "pre-qualify" checks have gone through except for Sallie Mae, which I couldn't find a pre-qualify check for.
Thanks
Given your profile, 4 apps is definitely reasonable.
Last month, I apped and was approved for the Sallie Mae, BCE, Delta Skymiles, Freedom and Lowe's, plus I PC'ed and CLI'ed my Capital One and US Bank and got a new car. My scores were right in the same range as yours (except your TU is much better than mine).
As others have said, do it all at once, take the temporary credit hit from the INQ and new TL's and in 6-12 months you'll be golden. One word of caution...be sure you're not plannng on apping on anything major (i.e. a mortgage) in the next year.
Hmm...The BankAmericard Cash Rewards card doesn't look too bad - $100 bonus if spend $500 in first 90 days isn't bad...but it appears to be a Signature Visa - So maybe it's not worth trying for with just average/good credit...
Discover sent me a second offer in two weeks...don't tempt me to app now!
@Themanwhocan wrote:The Sallie Mae gets more rewards than a BCE, under all spending patterns. And if you consistently exceed $250 monthly spend on either Grocery or Gas Station purchases, you can always wait 6 months and apply for a second Sallie Mae card.
wow.... you can have two Sallie Mae cards ?? You really have done an excellent job with your cash back strategy 