topic logistics of card application help! in Credit Card Applications

logistics of card application help!

Anonymous — Tue, 27 Sep 2016 18:50:00 GMT

I need advice. I have a 720-730 score. 16% utilization. 1 paid off collection 6.5 years ago. I have a Cap one cc (cl 9K) that I got in 2013. One citi card (CL1500) inDecember 2015.

I wanted to apply for the amex platinum (75k miles), PRG (65k miles), blue cash (450 cash back) on the same day and chase preferred or reserve (100k miles).

Amex on its website says I am "prequalified" for all of its blue cards. I dont know exactly what that means in AMEX doublespeak.

Logistically, how should I go about applying for these or are some out of my credit score range?

Thanks !!!

Re: logistics of card application help!

fltireguy — Tue, 27 Sep 2016 18:59:34 GMT

@Anonymous wrote:
I need advice. I have a 720-730 score. 16% utilization. 1 paid off collection 6.5 years ago. I have a Cap one cc (cl 9K) that I got in 2013. One citi card (CL1500) inDecember 2015.

I wanted to apply for the amex platinum (75k miles), PRG (65k miles), blue cash (450 cash back) on the same day and chase preferred or reserve (100k miles).

Amex on its website says I am "prequalified" for all of its blue cards. I dont know exactly what that means in AMEX doublespeak.

Logistically, how should I go about applying for these or are some out of my credit score range?

Thanks !!!

I cant see any reason why you wouldnt be approved for the AMEX products you listed. But, why would you want 2 charge pards..?

Re: logistics of card application help!

Burned2manybridgesB4 — Tue, 27 Sep 2016 19:17:01 GMT

No No No...

One charger, and one revolver simutaneously with an Amex app. You do two chargers back to back, one's going to get kicked to UW, or auto deny.

Re: logistics of card application help!

Anonymous — Tue, 27 Sep 2016 20:40:38 GMT

Thanks ! Will take your advice. Do you think I should apply for the revolver first or the charger first? Also, do you think I have any chance for the Chase Reserve product or not at this score?

Thanks again!

Re: logistics of card application help!

Anonymous — Tue, 27 Sep 2016 20:24:03 GMT

For the points. 75k Platinum and 65k PRG

Re: logistics of card application help!

Anonymous — Wed, 28 Sep 2016 12:10:05 GMT

Revolver first, then the charge. Wait 3 months, use both heavily, then go for the other charge card. Apply for the PRG first, because it's somewhat more useful than the Platinum. Also, the PRG comes fee free for the first year as the Platinum costs you the full $450AF on the first statement.

Re: logistics of card application help!

Anonymous — Wed, 28 Sep 2016 12:11:06 GMT

P.S. Get the Chase first, I missed that.

Re: logistics of card application help!

Anonymous — Wed, 28 Sep 2016 13:28:32 GMT

Thanks for your advice !!! I got approved for the blue cash preferred 10k cl, Then approved for the PRG. Chase sapphire preferred said 30 day wait. Is that basically a no? Which ones should I apply for in 3 mos and beyond? Amex platinum? spg amex? Thank you for all of your help.

Re: logistics of card application help!

Anonymous — Wed, 28 Sep 2016 17:22:23 GMT

Hit the brakes now. Period. Do nothing but use the crap out of those two AMEX cards you just got approved for. After three months, then you do some research on how the Platinum will work for you. The SPG is another revolver, so unless you use Starwood hotels, it's useless.

Re: logistics of card application help!

Anonymous — Thu, 29 Sep 2016 15:07:42 GMT

Thanks again for your timely and accurate help. When you say use the crap out of them do you mean take them to the limit and pay off monthly or just charge under 30% and pay it off? Thanks !

Re: logistics of card application help!

Anonymous — Thu, 29 Sep 2016 15:26:37 GMT

If you plan to pay in full, it doesn't matter. The only time you'll need to worry about the % that's on the card is if you plan to leave a balance to report at statement cut. New cards are restricted to the number of payments you can make, so keep that in mind. A low limit card will be difficult to work with that way, especially if you're planning to put a lot of usage on it.

The way to get around the payment block is to set up your personal banking bill-pay to push additional payments through.

Charge cards don't count against your utilization and as I've heard, heavy usage on the charge card will reflect positively towards your revolver but that's for AMEX only.

Since your BCP has a such a high SL, unless your profile supports it, a CLI might be unimportant or when it comes time to ask for one, they may ask for proof of income.

Keep track of your statement closing dates and pay off 4 days before close.