topic Re: Chase Marriott Rewards application? in Credit Card Applications

Chase Marriott Rewards application?

Anonymous — Tue, 12 Jul 2016 02:05:59 GMT

I'm looking for advice as to when to apply for the Marriott Rewards card offered through Chase.

I was approved for my first two CC's in February and denied for another a few days later due to insufficent credit history, so I was planning on waiting until September before adding another HP to my report. I also know that Chase can be much pickier than other banks about approvals. Also, I doubled my total avaliable credit today without an HP. Should I wait until my CLI hits my report to apply or wait until September? How much would it hurt my future chances to apply now and get denied?

Thank you

Re: Chase Marriott Rewards application?

Anonymous — Tue, 12 Jul 2016 02:18:57 GMT

Welcome to the board. How old is your credit file and how many new accounts have to opened since the got the Chase cards?

Re: Chase Marriott Rewards application?

Anonymous — Tue, 12 Jul 2016 02:35:50 GMT

I only have the two CC, they are the USAA AmEX Rewards Plus and Capital One Journey. I opened them both on my 18th birthday at the end of February. The only other thing that shows up on my credit are two low limit store cards that I was an authorized buyer on from three years ago, but neither have a balance.

And thank you for the welcome!

Re: Chase Marriott Rewards application?

Anonymous — Tue, 12 Jul 2016 03:36:36 GMT

@Anonymous wrote:
I only have the two CC, they are the USAA AmEX Rewards Plus and Capital One Journey. I opened them both on my 18th birthday at the end of February. The only other thing that shows up on my credit are two low limit store cards that I was an authorized buyer on from three years ago, but neither have a balance.

And thank you for the welcome!

Ok. What are the limits on the USAA and Capital One cards?

Re: Chase Marriott Rewards application?

Anonymous — Tue, 12 Jul 2016 03:42:43 GMT

@Anonymous wrote:
@Anonymous wrote:
I only have the two CC, they are the USAA AmEX Rewards Plus and Capital One Journey. I opened them both on my 18th birthday at the end of February. The only other thing that shows up on my credit are two low limit store cards that I was an authorized buyer on from three years ago, but neither have a balance.

And thank you for the welcome!
Ok. What are the limits on the USAA and Capital One cards?

Both started at $500, today Cap. One increased to $1500. Utilization is at 24% and I plan to keep paying it down.

Re: Chase Marriott Rewards application?

Anonymous — Tue, 12 Jul 2016 03:59:05 GMT

@Anonymous wrote:
@Anonymous wrote:
@Anonymous wrote:
I only have the two CC, they are the USAA AmEX Rewards Plus and Capital One Journey. I opened them both on my 18th birthday at the end of February. The only other thing that shows up on my credit are two low limit store cards that I was an authorized buyer on from three years ago, but neither have a balance.

And thank you for the welcome!
Ok. What are the limits on the USAA and Capital One cards?
Both started at $500, today Cap. One increased to $1500. Utilization is at 24% and I plan to keep paying it down.

Ok. Since you only received your own cards in February, give it a few more months before attempting Chase. The marriot card credit limits starts at $5,000 if approved. And Chase likes to see some experience with such limit or some high limits before approving you.

So be very strategic approaching Chase. Just get your foot in the door by applying for a card like Slate or Freedom if either fits into your spending category. Then once in [ Chase], use the new card for about 6 months to a year and then apply for the Marriot.

The reason why I said use the new card if approved for 6 months to a year is because Chase relies heavily on their internal scores. So as you use the card responsibly, make payments etc. you are building it up.

Re: Chase Marriott Rewards application?

Anonymous — Tue, 12 Jul 2016 04:16:13 GMT

Thank you.

My reasoning for wanting the Marriott is because I only stay at their hotels, so it just makes sense for me. But that's not going to change in two years.

I don't think this has much of a difference, but I have always held a Chase checking account and had a savings account with them for a few years. My only worry about your strategy is the 5/24 rule and the fact that I don't feel very strongly about any of the other Chase cards, besides the Amazon but I'm not sure if that even counts with chase. What is your opinion on opening another account when I don't have a use in mind for it other than to build my proflie? Which one would you suggest?

Re: Chase Marriott Rewards application?

Anonymous — Tue, 12 Jul 2016 14:08:18 GMT

How long have you had your Chase checking and savings accounts? Do you use it often? I asked you earlier but what are your FICO scores? Not credit karma..

Re: Chase Marriott Rewards application?

Anonymous — Tue, 12 Jul 2016 19:45:53 GMT

I do not know my FICO scores, I get mine through USAA's credit monitoring service.

I've had the checking account for six years, and I use it nearly every day. My direct deposits have always gone there, for two years now. I had a savings account for five years.

Re: Chase Marriott Rewards application?

Anonymous — Tue, 12 Jul 2016 22:38:03 GMT

@Anonymous wrote:
I do not know my FICO scores, I get mine through USAA's credit monitoring service.

I've had the checking account for six years, and I use it nearly every day. My direct deposits have always gone there, for two years now. I had a savings account for five years.

Knowing your FICOs is very important as that is what lenders use to approve you. Since you bank heavily with Chase, I suggest when you are ready to apply for your next card, go into the branch since you have limited credit history instead of applying over the phone / online.

When you do it in the branch and it goes to pending, the banker willl be able to call lending directly and recon on your behalf.

Re: Chase Marriott Rewards application?

RonM21 — Wed, 13 Jul 2016 21:37:44 GMT

I'd get the Fico scores and see where you stand. But also, I think I'd hold off for a while.

Re: Chase Marriott Rewards application?

Anonymous — Thu, 14 Jul 2016 02:27:18 GMT

I may be missing something here, but are FICO scores different from the credit scores I get from USAA? I pay to get my 3 bureau report daily, and those scores are in my signature. My utilization is reporting at 84%, which will go down to 30% in the next few days.

I figure waiting is the best idea, but I don't know how long to wait. A few months or a different Chase card like the freedom or slate? Then another year or so for Marriott?

Re: Chase Marriott Rewards application?

Vegas4Play — Thu, 14 Jul 2016 06:47:36 GMT

Your 18 and you stay at the Marriott, do you travel a lot?...I only ask out of curiousity

Re: Chase Marriott Rewards application?

JustBPatient — Thu, 14 Jul 2016 15:46:21 GMT

I think the advice so far is solid. I would app for a Freedom or FU and use if responsibly for 6 months then go for Marriott. And I wouldn't app for anything until you have that utilization under 30%!! Good luck!!

Re: Chase Marriott Rewards application?

Anonymous — Thu, 14 Jul 2016 15:58:38 GMT

@Anonymous wrote:
I may be missing something here, but are FICO scores different from the credit scores I get from USAA? I pay to get my 3 bureau report daily, and those scores are in my signature. My utilization is reporting at 84%, which will go down to 30% in the next few days.

I figure waiting is the best idea, but I don't know how long to wait. A few months or a different Chase card like the freedom or slate? Then another year or so for Marriott?

As someone that has both Slate and Freedom, I'd go with the Freedom. Slate gives nothing besides a 0% APR for 15 months. At least with the Freedom, you'd get points, which can be converted to money in the bank.

As I see with your scores, you will not likely get a Chase card just yet. Let your existing cards age and try them in 6+ months, then apply at the bank, not online as the other poster suggested.

Re: Chase Marriott Rewards application?

Anonymous — Thu, 14 Jul 2016 17:31:00 GMT

@Vegas4Play wrote:
Your 18 and you stay at the Marriott, do you travel a lot?...I only ask out of curiousity

Not an absurd amount, but my closest friends work there so I get their friends and family rate, hence only being at Marriott. I get a lot of time off from my job, so I like to travel. Usually not terribly far away from home, but I do find myself in a hotel quite often.

Re: Chase Marriott Rewards application?

Anonymous — Thu, 14 Jul 2016 17:35:02 GMT

@Anonymous wrote:
@Anonymous wrote:
I may be missing something here, but are FICO scores different from the credit scores I get from USAA? I pay to get my 3 bureau report daily, and those scores are in my signature. My utilization is reporting at 84%, which will go down to 30% in the next few days.

I figure waiting is the best idea, but I don't know how long to wait. A few months or a different Chase card like the freedom or slate? Then another year or so for Marriott?
As someone that has both Slate and Freedom, I'd go with the Freedom. Slate gives nothing besides a 0% APR for 15 months. At least with the Freedom, you'd get points, which can be converted to money in the bank.

As I see with your scores, you will not likely get a Chase card just yet. Let your existing cards age and try them in 6+ months, then apply at the bank, not online as the other poster suggested.

I noticed the difference between slate and freedom after I posted and I couldn't agree more. Once I do app for another card, it will be freedom.

I was planning on visiting my bank in the next few weeks to change out my savings and checking account type. My utilization at that time will be under 30%. Do you still think I should wait a few more months? I worry about how my student loans, which will probably hit my report in August, will affect my scores.

Re: Chase Marriott Rewards application?

Anonymous — Thu, 14 Jul 2016 17:54:19 GMT

You can try before your loans report but if you're declined, you'll want to push your plans ahead another 6 months... Do the Chase online pre-qual site and see if something pops first though. Also, you might want to try the Discover It Student card, it might be easier. Always do the pre-qual site on any card first, as a rule of thumb.

Re: Chase Marriott Rewards application?

Anonymous — Thu, 14 Jul 2016 19:52:06 GMT

@Anonymous wrote:
You can try before your loans report but if you're declined, you'll want to push your plans ahead another 6 months... Do the Chase online pre-qual site and see if something pops first though. Also, you might want to try the Discover It Student card, it might be easier. Always do the pre-qual site on any card first, as a rule of thumb.

Unless having the discover will help my chances with Chase in the future, I don't really want it. The Capital One card I have is a student card, and the reason I'm looking for a new one with Chase is because I would like to get in with Chase.

But I will definitely do the preuals in the future. I did for both of my cards already, even though they didn't show up and I was still approved. I assume this is/was because of not havin much credit history.

Re: Chase Marriott Rewards application?

Anonymous — Thu, 14 Jul 2016 20:47:38 GMT

Well, as you will. Just keep in mind, Chase has a 5/24 rule with their cards, meaning you can have 5 cards max with any company in 24 months and they'll decline you, even if you have 0 or more of their cards.