topic Re: Choosing My Second Card and Some Questions in Credit Card Applications

Choosing My Second Card and Some Questions

Anonymous — Tue, 07 Aug 2018 18:08:24 GMT

Hi everyone.

So after my last post in this community, here, I opened a checking account in Chase. However, the banker told me even if I deposit a large amount of money or writing a letter of recommendation for me, they can't help with the application since it is considered by the credit company in stead of Chase. Now I've decided to apply for another card to increase my credit history and average credit limit (since my only card, BOA Cash Reward, has only 800 CL).

I'm thinking of the Amex Everyday or Blue Cash Everyday now since no annual fee is required. Although one of them is a cash back card and the other is a rewards card, I may only apply for one. Which one would be a better card to have? I would definitely apply for the Chase Freedom again after 6 months when I have one-year credit history so I think the Amex card I'm applying for is just for this transition period.

Another question would be, is the sign up bonus of Amex cards is restricted to once in a lifetime per card, or per card per family? Like if I apply for the Amex Everyday (a rewards card) and get the sign up bonus of it, can I also get the bonus of a Premier Rewards Gold later when I apply for?

Re: Choosing My Second Card and Some Questions

Jeffhacker — Tue, 07 Aug 2018 18:32:57 GMT

there are a lot of alternatives. I assume you're fairly young, so Amex has the abiltity to grow with you long term; which card depends on what kind of "rewards" you want. What you're trying to establish with your credit is to show you can manage multiple accounts and remain in good standing. That will, longer term, help you increase your limits. No absolute rule here. Apply for what you think makes more sense now.

@Anonymous wrote:
Hi everyone.
So after my last post in this community, here, I opened a checking account in Chase. However, the banker told me even if I deposit a large amount of money or writing a letter of recommendation for me, they can't help with the application since it is considered by the credit company in stead of Chase. Now I've decided to apply for another card to increase my credit history and average credit limit (since my only card, BOA Cash Reward, has only 800 CL).

I'm thinking of the Amex Everyday or Blue Cash Everyday now since no annual fee is required. Although one of them is a cash back card and the other is a rewards card, I may only apply for one. Which one would be a better card to have? I would definitely apply for the Chase Freedom again after 6 months when I have one-year credit history so I think the Amex card I'm applying for is just for this transition period.

Another question would be, is the sign up bonus of Amex cards is restricted to once in a lifetime per card, or per card per family? Like if I apply for the Amex Everyday (a rewards card) and get the sign up bonus of it, can I also get the bonus of a Premier Rewards Gold later when I apply for?

Re: Choosing My Second Card and Some Questions

Anonymous — Tue, 07 Aug 2018 19:57:19 GMT

I started with a Chase card, and as you know, those early chase cards do not grow well. It started at 5C and is now 2K

I chose a BCE for my second card, it is now one year old and has an 18k CL

The sweet spot for chase seems to be apping with a year or two history, then they're happy to give you a nice SL

I'd recommend the path I took. I expect my next card to have a very healthy SL with 1y6m total history

Re: Choosing My Second Card and Some Questions

Anonymous — Tue, 07 Aug 2018 20:03:30 GMT

Are you pre-approved for any cards with American Express?

Re: Choosing My Second Card and Some Questions

Anonymous — Tue, 07 Aug 2018 20:51:34 GMT

Yes, three cards. Amex EveryDay, Premier Rewards Gold Card and Cash Magnet Card. I wonder why I'm not pre-qualified for the Blue Cash.

Re: Choosing My Second Card and Some Questions

Anonymous — Tue, 07 Aug 2018 21:01:42 GMT

@Anonymous wrote:
Yes, three cards. Amex EveryDay, Premier Rewards Gold Card and Cash Magnet Card. I wonder why I'm not pre-qualified for the Blue Cash.

I would suggest only applying for a card that you're pre-approved for. Since you say this is an interim card, perhaps a cash back card will be the better choice since you wouldn't have to deal with Ultimate Rewards points.

The sign up bonuses are once in a lifetime per card and you can have a maximum of five Amex cards at a time.

Re: Choosing My Second Card and Some Questions

Anonymous — Wed, 08 Aug 2018 23:14:39 GMT

Instant approval of the Amex Everyday Credit Card with SL $2,000 yesterday, not bad but expected more. Will look for CLI after 61 days.

Thanks for the advice guys!

Re: Choosing My Second Card and Some Questions

Anonymous — Wed, 08 Aug 2018 23:17:46 GMT

Congrats on your approval !!!!!

Re: Choosing My Second Card and Some Questions

Remedios — Wed, 08 Aug 2018 23:18:28 GMT

Congrats on your approval

Considering you've only had a single CC for 7 months, and in the light of Chase denial, $2000.00 is actually a pretty good deal.