topic Re: Chase Sapphire Preferred or Chase Freedom Unlimited or Amex Everyday in Credit Card Applications

Chase Sapphire Preferred or Chase Freedom Unlimited or Amex Everyday

Anonymous — Fri, 07 Jul 2017 22:33:52 GMT

Hello, I am 21 years old and started having credit as a AU around 5 years ago. I didn't get my first credit card(small CU-$500) till 18 months ago and then got an AMEX PRG about a year ago. I would like to get another card to have a real credit limit higher than $500. I have looked at cards such as the Chase Sapphire Preferred, Chase Freedom Unlimited, Amex Everyday.

TU-734

EQ-768

EX-735

Does anyone have any recommendations on what to apply for and what not to apply for? My first choise is the CSP but since I don't have a 5k limit I feel as if I will be denied which is leading me to the FU or Amex Everyday.

If you could please advise. Thank you

Re: Chase Sapphire Preferred or Chase Freedom Unlimited or Amex Everyday

fiddycal — Fri, 07 Jul 2017 23:34:40 GMT

I would think Amex would probably give you a nice SL, and since you're already in with them I believe it would only be a soft pull if you're denied. You could also look at the Blue Cash Everyday or Blue Cash Preferred for cash back with them.

Chase actually gave me my first "bigger" limit with the Freedom Unlimited not long after I turned 21. It had a $6K SL.

You might also try the Citi Double Cash, but I think they are a little stingier with starting limits.

The Discover It is another good option if you want rotating categories for cash back. The regular Chase Freedom has that as well.

Really it just depends on what kind of card you want. If those scores are accurate, I don't think think you'll have any trouble getting approved with a decent limit for most cards. Where did you get them from?

Re: Chase Sapphire Preferred or Chase Freedom Unlimited or Amex Everyday

Anonymous — Fri, 07 Jul 2017 23:42:20 GMT

@Anonymous wrote:
Hello, I am 21 years old and started having credit as a AU around 5 years ago. I didn't get my first credit card(small CU-$500) till 18 months ago and then got an AMEX PRG about a year ago. I would like to get another card to have a real credit limit higher than $500. I have looked at cards such as the Chase Sapphire Preferred, Chase Freedom Unlimited, Amex Everyday.
TU-734
EQ-768
EX-735

Does anyone have any recommendations on what to apply for and what not to apply for? My first choise is the CSP but since I don't have a 5k limit I feel as if I will be denied which is leading me to the FU or Amex Everyday.
If you could please advise. Thank you

Because you don't have any high starting lines, I would scrap Sapphire for now. I would go for Freedom or Amex. Either one are going to give you a high SL. I'm thing Freedom would be under 4k and AMEX between 1-2k.

Re: Chase Sapphire Preferred or Chase Freedom Unlimited or Amex Everyday

Anonymous — Fri, 07 Jul 2017 23:53:32 GMT

I would recommend applying for the Amex Everyday, they'll probably give you a good limit. The F/FU is also a good choice. A CSP approval is highly unlikely, though. Have you checked pre-quals?

Re: Chase Sapphire Preferred or Chase Freedom Unlimited or Amex Everyday

Anonymous — Sat, 08 Jul 2017 00:00:07 GMT

How do I check for pre quals? All of my scores are from credit karma or experian....

Re: Chase Sapphire Preferred or Chase Freedom Unlimited or Amex Everyday

Anonymous — Sat, 08 Jul 2017 00:15:12 GMT

Chase Pre Qual:

Freedom

Freedom Unlimited

Slate

CSP

Amex:

Platinum

BCE

Delta

Re: Chase Sapphire Preferred or Chase Freedom Unlimited or Amex Everyday

Anonymous — Sat, 08 Jul 2017 05:27:54 GMT

Get on the fast track:

Go for the CSP. Get stupid happy at your first $5k SL.

Do the SCT for Comenity Bonton or Boscovs. Get it to $20k or $30k in a year and go for a CapOne Venture.

Re: Chase Sapphire Preferred or Chase Freedom Unlimited or Amex Everyday

Anonymous — Sat, 08 Jul 2017 08:36:26 GMT

Don't get wrapped up in the sct's.

Re: Chase Sapphire Preferred or Chase Freedom Unlimited or Amex Everyday

Anonymous — Sat, 08 Jul 2017 16:22:17 GMT

Apped for Chase Freedom Unlimited- Immediate Acceptance for $5000. Wondering if I should of CSP?

Re: Chase Sapphire Preferred or Chase Freedom Unlimited or Amex Everyday

fiddycal — Sat, 08 Jul 2017 18:28:59 GMT

Congrats! Don't worry about whether you could've gotten the CSP. You can still get it. Watch on your Chase account for an offer for it. A green check mark beside it means very solid approval chances. A CSP will let you get a better rewards rate from your FU too.

Re: Chase Sapphire Preferred or Chase Freedom Unlimited or Amex Everyday

Gmood1 — Sat, 08 Jul 2017 18:35:26 GMT

If you just apped today. Go back in and app for the other card you want. Normally Chase will use the same HP for both Apps. Good luck!

Re: Chase Sapphire Preferred or Chase Freedom Unlimited or Amex Everyday

Anonymous — Sat, 08 Jul 2017 19:54:13 GMT

@Anonymous wrote:
Apped for Chase Freedom Unlimited- Immediate Acceptance for $5000. Wondering if I should of CSP?

Good job! Good SL

Re: Chase Sapphire Preferred or Chase Freedom Unlimited or Amex Everyday

Anonymous — Fri, 11 Aug 2017 18:04:25 GMT

I figured I would weigh in on the Chase Sapphire Preferred. I've been studying credit scores/reports/doing research on this card for about 4 months now. A year ago, my credit scores were 580-600, and woke up this morning to a Credit Karma update (VantageScore 3.0) of an Equifax score of 715 and TransUnion of 709. My current credit card utilization is 6%, using $316 of a $5400 combined credit limit, so that played in my favor this morning as well. Also, I checked for prequalified offers from Chase regularly, and never found one that they had selected for me. The only prequalified offers I get is for the AmEx Green Card.

It has taken a lot of hard work paying down balances and letting some things fall off my report in the past year to get to this point. I hired Blue Sky Credit to help clean up my credit report, and retained their services for about 4 months. I got my student loans out of default and have paid for MyFico and IdentityIQ credit report and score monitoring services for more than a year. I read The Points Guy religiously and read the forums here routinely. When my scores hit the 690s, Credit Karma said I had "very good" odds of approval, but still wasn't totally convinced.

I just had a WellsFargo secured card with 2 years and 6 months history with a $400 limit convert into a secured card because of good payment history with them. They gave me a $700 unsecured limit and returned my deposit within 10 days. I have an existing Capital One secured card with a $200 limit with an age of 2 years 5 months, but was also 30 days late on that payment in August 2015 (not smart on my part). 11 months ago, I applied for a Quicksilver One with Capital One and was approved for a $2,500 limit. 6 months later, they raised my limit to $4,500 without my asking, keeping that utilization pretty high (well over 50%) for the entire time, and always paying on time.

So I didn't have an existing credit line of at least $5,000, have more than $80,000 in student loan debt, personal income of about $60K, only $5400 total credit line, and I took a stab at the Chase Sapphire Preferred this morning, and was approved for a $9,000 limit instantly with a 20.99% APR.

Wanted to share my story and statistics because it truly is different for everyone. I was under Chase's 5/24 rule, having applied for only one credit card within the past 24 months, so I am certain that probably played in my favor. But as far as needing an existing credit line of at least $5,000, having credit of a certain age, etc. none of that seemed to matter to them. So excited though for my approval, so I encourage people to just apply if their scores are at least 700 and have no chargeoffs on your report and are under the 5/24 rule often mentioned about Chase.