11-27-2012 11:03 PM
BOA does not report the credit limit, i don't really know whether you need more credit to show on your reports. I have it and I am not too happy with it because they round up points in their favor: EX 14.98 gasoline charge got me 14 instead of 15 points and x3 , Chase would give me 15 points +10 +10% for chase exclusives ....
I know i am picky, but when i make 30+ transactions a month over time the difference piles up....Go for the Sapphire P.
11-28-2012 01:11 AM
So here's the situation, I currently have 4 CCs and 2 active auto loans. 3 cards are from Chase, 1 card is from discover. One of my chase cards is the chase sapphire (not preferred). It's been opened for 5 months now going on 6 months, and I got a pre-approved offer the preferred version. For this offer I can get $400 cash back for spending $2K (which I pay in full.) And BoA is $100 spending $500. I don't have a pre-approved offer for this card. To qualify for the Sapphire promotion, I would need to apply for it, and close my current one (also transferring the 5K CL to the new account.)
The BoA card will just be a new account. I know the Sapphire preferred is a $95 annual fee, but I do some minor traveling (not out of the country) so that will offset the fee from the rewards. I have a total of 3 years credit history. I know the money is definitely better with the Sapphire, but which is better for my credit? Assuming I can get approved for either.
Hey nuyorican9452! Welcome to the forms!
You've got a tough decision. . Apping for either card is going to ding your credit report a few points. Adding any new account depending on your AAoA is going to affect your credit score. Any affect on your score will be cured with time. There is no doubt that the CSP is a better card then the reg Sapphire crd or the BOA card. I personally think you are too Chase heavy in your credit profile. Not knowing your credit profile, I'd do a lot of research on this forum and really see what kind of other charge products might be better for your spending profile to better suit your rewards possibility. At any rate, I'd call Chase since you've got a good history with them and see if a PC to CSP is possible with the sign up bonus without having to app for it. Also, I'd really look into another credit product to add to your profile that suits your spending habits. If you have to app for the CSP, I'd also app another credit product on the same day. (This is assuming you have a decent score with a good AAoA and no baddies). Look into: BCP/BCE, US Bank Cash+, CitiBank etc... If you elaborate on your profile, maybe others with help with approval odds... Ect. Good luck!