07-01-2013 08:20 PM
Both, huh? I'll have to ponder that for a moment.
07-01-2013 08:36 PM - edited 07-01-2013 08:37 PM
More miles, and a potentially huge CL after a year! Consolidated, it'll be anywhere from $15K - $20K. No HP on consolidating CLs.
If you're worried about co-brands having higher CL's, then I suggest this is the plan for you Lexie.
I know you're anti-spree, but if you're trading in your spade, and you've got nothing serious coming up, I would suggest that this plan merits a double-pull. If I wrote off the potential mortgage and decided to stay on the housing sidelines I might be able to reach CPC levels... if I did, I'd be pushing my markers with Chase as much as possible. Honestly from a credit perspective given your newly found strength of relationship with Chase, I view Open's suggestion as brilliant, and concur with the others that you should take it.
The whole caveat is you know me, I consider 1 HP vs. 2 to be absolutely irrelevant, if you're taking one, should almost certainly spend a second somewhere... and this is vastly superior to my usual fallback of a HP for BOFA on my lonely TU report.
07-01-2013 09:01 PM
The garden queen is shaking off the soil ...
Let's see, Explorer vs CSP.
First off, if you don't fly UA, then the Explorer is about worthless. If you do fly UA, the perks that come with the card are quite nice. Priority boarding to make sure your carry-on has space in the overhead compartment, discount on in-flight purchases, waived check-bag fees, and lounge access are the benefits you won't otherwise get unless you have UA status.
The Explorer also has a bigger sign-up bonus (55k miles vs 40k points)
Now, the CSP has higher earning potential with the 2% on restaurant and travel purchases in addition to the 7% annual bonus. If you plan to transfer all these points to UA then the CSP will almost always earn you more: 2.14 miles on travel > 2 miles on UA flights.
And of course you have the option of transfering points from the CSP to other airlines and loyalty programs.
The UA perks that you'll get from the Explorer are great, but their value gets gradually offset by the CSP's extra earning power and flexibility. A lot of the decision will come down to how much you value the UA perks.
With that said, I second getting both cards. Hopefully the second card won't inflict additional inquiries on your reports. Before the anniversary hits, cancel the Explorer since the CSP will earn you more in the long run. As a Chase Private Client, I don't think you'll have to worry about credit limits.
07-01-2013 09:35 PM
07-01-2013 09:41 PM
Yes, I'm going to shake off the garden soil. As usual, I have received some excellent advice. I'll update this post tomorrow.
Besides these 2 cards, what other cards do you have in mind?
IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more
FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.