topic Re: Apply for third credit card within 14 days? (Chase Freedom) in Credit Card Approvals

Apply for third credit card within 14 days? (Chase Freedom)

Anonymous — Sun, 27 Jul 2014 19:10:48 GMT

Hey guys, heres some background info to begin:

So after being an AU on my fathers AMEX Platinum since Mar. '12, I apped for a Delta Gold AMEX in July of 2013 and got that card and have kept it now for a year. I have paid all bills on time, less than 20% cred. util., income over $150k, and a CK score of around 740-750. In April my limit was increased from 2k to 9k.

On July 14 I applied for the CSP and got approved instantly for 24k credit. Fast forward to July 22, I applied for a BCP and got approved instantly for 15k. Tomorrow would mark the 14th day since I applied for CSP and now I am seriously considering getting a Chase Freedom card because of its rewards potential with the CSP. Would it be a bad idea to apply for that right now considering I already have many inquiries?

I hear theres a sign up bonus worth up to $200 around nov/dec time, should I just wait for then?

Thanks for the help guys.

P.S. Since I can transfer the cashback from Freedom to CSP Points, for all other purchases wouldn't it just make sense to always use the Freedom rather than to damage the beautiful CSP unnecessarily?

Re: Apply for third credit card within 14 days? (Chase Freedom)

-Wade- — Sun, 27 Jul 2014 19:11:37 GMT

@Anonymous wrote:
Hey guys, heres some background info to begin:

So after being an AU on my fathers AMEX Platinum since Mar. '12, I apped for a Delta Gold AMEX in July of 2013 and got that card and have kept it now for a year. I have paid all bills on time, less than 20% cred. util., income over $150k, and a CK score of around 740-750. In April my limit was increased from 2k to 9k.

On July 14 I applied for the CSP and got approved instantly for 24k credit. Fast forward to July 22, I applied for a BCP and got approved instantly for 15k. Tomorrow would mark the 14th day since I applied for CSP and now I am seriously considering getting a Chase Freedom card because of its rewards potential with the CSP. Would it be a bad idea to apply for that right now considering I already have many inquiries?

I hear theres a sign up bonus worth up to $200 around nov/dec time, should I just wait for then?

Thanks for the help guys.

P.S. Since I can transfer the cashback from Freedom to CSP Points, for all other purchases wouldn't it just make sense to always use the Freedom rather than to damage the beautiful CSP unnecessarily?

Congrats on your success

Re: Apply for third credit card within 14 days? (Chase Freedom)

Anonymous — Sun, 27 Jul 2014 19:12:36 GMT

Congrats!

Re: Apply for third credit card within 14 days? (Chase Freedom)

coldnmn — Sun, 27 Jul 2014 19:17:03 GMT

Congrats! I would go for the Freedom and then garden in my opinion.Thanks for sharing.

Re: Apply for third credit card within 14 days? (Chase Freedom)

DaveSignal — Sun, 27 Jul 2014 19:28:31 GMT

congrats on your approvals. The $200 Freedom bonus has come and gone, but there is a chance that it will come back again. The timeframe is not really predictable. The Freedom would eventually be a useful card for me as well, but not currently since I am living outside of the USA at the present time. I will wait until I move back to the states, possibly looking out for a bigger bonus offer when I get closer to that time.

Depending on your spend and if you don't have anything else to apply for that would be sensitive to new accounts and inquries, then it could be beneficial to pick up the card now. You would make up the $100 with only $2k spend in 5x categories. It would make sense to use the CSP for travel and dining and use the Freedom for 5x categories. This would maximize your rewards. Very few other people really care what your credit card looks like, but if you somehow "damage" your CSP and it bothers you, you can request a replacement card.

Re: Apply for third credit card within 14 days? (Chase Freedom)

Anonymous — Sun, 27 Jul 2014 19:48:48 GMT

@coldnmn wrote:
Congrats! I would go for the Freedom and then garden in my opinion.Thanks for sharing.

You don't think theres a chance I'll be denied given my circumstances?

What about this $200 offer I hear they have in nov/dec time frame?

Also, given my CSP has 24k, BCP has 15k, plus my delta card that has 9k (even though I am canceling it in a week or so), will they ask me to reallocate some of my credit from the CSP to the Freedom? If so what would be a good allocation?

Re: Apply for third credit card within 14 days? (Chase Freedom)

s_haliz — Sun, 27 Jul 2014 20:16:28 GMT

Congrats!!! I would probably wait for $200 offer to come again. In the meantime you are building your track record at really great pace. Its not that you would be decline now if you apply....

Re: Apply for third credit card within 14 days? (Chase Freedom)

Anonymous — Sun, 27 Jul 2014 20:27:07 GMT

@s_haliz wrote:
Congrats!!! I would probably wait for $200 offer to come again. In the meantime you are building your track record at really great pace. Its not that you would be decline now if you apply....

Hmm the $200 offer does seem extraordinarily tempting, but if I can app for the card now I think I would do it since I am leaving for college in about two weeks and it would just be more of a hassle to get it whenever they bring back that offer, is it really not that predictable?...hmm... decisions decisions

Re: Apply for third credit card within 14 days? (Chase Freedom)

s_haliz — Sun, 27 Jul 2014 20:31:30 GMT

@Anonymous wrote:
@s_haliz wrote:
Congrats!!! I would probably wait for $200 offer to come again. In the meantime you are building your track record at really great pace. Its not that you would be decline now if you apply....
Hmm the $200 offer does seem extraordinarily tempting, but if I can app for the card now I think I would do it since I am leaving for college in about two weeks and it would just be more of a hassle to get it whenever they bring back that offer, is it really not that predictable?...hmm... decisions decisions

In that case I would say go for it.....Being a second Chase card, my prediction is higher CL than your first one (happened to me as well as someone mentioned in this forum).

Re: Apply for third credit card within 14 days? (Chase Freedom)

DaveSignal — Sun, 27 Jul 2014 20:37:25 GMT

@Anonymous wrote:
@s_haliz wrote:
Congrats!!! I would probably wait for $200 offer to come again. In the meantime you are building your track record at really great pace. Its not that you would be decline now if you apply....
Hmm the $200 offer does seem extraordinarily tempting, but if I can app for the card now I think I would do it since I am leaving for college in about two weeks and it would just be more of a hassle to get it whenever they bring back that offer, is it really not that predictable?...hmm... decisions decisions

Chase offered the $200 in November of 2013 and they just offered it this past June 2014. They also offered it in January of 2012. If you heard from Chase that they are going to be doing it again this year, then that could be good information. I don't think they are advertising future offers though. Its predictable in that it is probably a safe bet that, at some time in the future, there will be another higher Freedom bonus. I wouldn't bet on any exact dates, however.

Re: Apply for third credit card within 14 days? (Chase Freedom)

Anonymous — Sun, 27 Jul 2014 20:53:04 GMT

Well guys, I just bit the bullet and applied and got approved for $14k! Real excited!

EDIT: Note though the CL is actually lower than the CSP but no problem with that whatsoever.

Re: Apply for third credit card within 14 days? (Chase Freedom)

DaveSignal — Sun, 27 Jul 2014 20:56:54 GMT

congrats! you have a great combo with the CSP.

Re: Apply for third credit card within 14 days? (Chase Freedom)

s_haliz — Sun, 27 Jul 2014 20:58:09 GMT

@Anonymous wrote:
Well guys, I just bit the bullet and applied and got approved for $14k! Real excited!

EDIT: Note though the CL is actually lower than the CSP but no problem with that whatsoever.

Congratulations!!! The only other thing I can think of lower limit of Freedom than CSP is that perhaps "automated approval" where formulas/algorithm is kind of fix. Whereas manual review (my situation and other person's situation) may have generated higher limit? Who knows?

Re: Apply for third credit card within 14 days? (Chase Freedom)

alvon123 — Sun, 27 Jul 2014 21:41:53 GMT

congrats

Re: Apply for third credit card within 14 days? (Chase Freedom)

coldnmn — Sun, 27 Jul 2014 21:43:45 GMT

@Anonymous wrote:
Well guys, I just bit the bullet and applied and got approved for $14k! Real excited!

EDIT: Note though the CL is actually lower than the CSP but no problem with that whatsoever.

Congrats!

Re: Apply for third credit card within 14 days? (Chase Freedom)

Anonymous — Sun, 27 Jul 2014 23:03:01 GMT

Congrats on the third card and the great limits! It seems (especially from the other thread) that we have the same taste in cards

Re: Apply for third credit card within 14 days? (Chase Freedom)

Tony275 — Mon, 28 Jul 2014 01:54:15 GMT

Congrats! Great limit!