topic Re: Amex, Chase or Capital One in Credit Card Applications

Amex, Chase or Capital One

mlj01 — Sat, 27 Jun 2015 04:09:19 GMT

I have been looking around at some cards recently as one thing Credit Karma and other related sites tell me is hurting is AAoA which is 1 year 10months, and total accounts which is at 9(most being Fed student loans). I am still in college.

I currently have 1 credit card: Discover It Student at $3000.00 credit line. I have had it since July 2013 and the CL was increased last in Febuary. I also have 1 auto loan since November 2012 with about $4500 left on it.

I have recieved quite a few pre-qualified mailings from AMEX and Capital One, while also seeing pre-qualified on Chase's website.

Amex mailed me a prequalified Blue Cash Everyday $250 after $1,000 spend in 3 months; Their website lists as prequalified Gold Card(15k pts after $1000 spend in 3 months); and Everday(15k pts after $1k spend in 3 mo)

Chase prequalified online shows: Freedom ($200 bonus, and 0 intro apr & AF); Slate; and Sapphire Preferred(40k Pts after spend $4k in 3 months).

Capital One prequalified online shows: Quicksilver Rewards($100 on $500 spend in first 3 mo); Venture(40k Pts after $3k spend in first 3 months); and Platinum Prestige.

Most of my spending is at Walmart/Sams Club, Gas Stations, Restaurants/Fast Food and occasionally on Amazon and at Target or other grocery stores.

I am getting married in August 2016 and honeymoon looks like it will be going to Niagra Falls area(Buffalo,Toronto) and going into Canada by then I will be looking for a no FTF card that is widely accepted in Toronto (Discover has 0 FTF but i hear it is not accepted much in Toronto). Being as that is over a year away I know I don't have to have that as a major factor in my decision yet.

I don't have any flights currently planned, but have taken two trips over the last year on Southwest Airlines(airline of choice due to free bags, and value).

Scores

Transunion Vanatage: 781

Discover FICO: 746(Online) ; 726 (5/27 Statement)

Credit Karma: T- 718 EQ - 748

Credit Sesame: 718.

I was thinking:

This month: Apply for a Amex, Possibly BCE for the $250 offer. I'm not sure how well the gold 15k pt offer is with my limited travel in the next 12 months, is that able to be PC to a non-AF card?

Between September-January: Either

1. Chase cards: CSP and/or Freedom. I was reconmended on another thread to try Back to back to get only 1 pull, and then before the year is up to combine the CL into the Freedom. From my understanding I will rant to redeem my points before doing that correct? Also opening after August will allow me to possibly save the points for the honeymoon in August 2016. Freedom 5x categories may match my Discover iT.

2. Cap 1: Venture and/or Quicksilver. Do they pull twice if you apply back to back within minutes? I read that you can PC Venture to VentureOne to avoid the AF, I don't believe they allow a PC to QS later on do they? I need to do some more research on the point differences between Venture and VentureOne, but I would have Venture for atleast 11 months before AF time. I also saw a thread where it sounds like Cap1 may be allowing cards to be combined in the near future.

Between April 2016-July 2016: Option that wasn't choosen above.

Any suggestions on timelines, and what cards I should do?

Should I look at Sallie Mae Mastercard? And with how low my AAOA is now, how much will opening 2 cards at once (Chase or Cap1 Back to Back hurt?) and then later combining what I can, or should I convert AF cards Venture to VentureOne and CSP to CS?

Re: Amex, Chase or Capital One

OmarGB9 — Fri, 26 Jun 2015 05:45:26 GMT

How many inquiries do you have on each bureau? The reason I ask I because of Chase tends to be very inquiry sensitive and if you have more than 5 inquiries in the last 2 years they may flat out deny you even with good scores from what I've read.

As far as AAoA, mines at around 1 year and I just added two new cards, but it probably won't change mine much since I have a fairly short credit history to begin with (oldest TL is 2.4 years).

Re: Amex, Chase or Capital One

mlj01 — Fri, 26 Jun 2015 05:57:08 GMT

Credit Karma tells me 3 at Transunion and 0 at Equifax. I was at 4 at TU in Febuary, so one must of fallen off, and I been at atleast three since atleast June 2014, I assume they may have been from prior CLI at Discover and Apartment Management.

Credit Sesame has me at 1 inquiry. I will try to track down the third Bureau because I belive CK and CS use the same.

Re: Amex, Chase or Capital One

Anonymous — Fri, 26 Jun 2015 05:56:43 GMT

Good to ask questions and plan your "minimal app spree" in advance. You'll have more success in all likelihood. For Cap One, while many have stated you can do a "2 for 1 HP", it appears lately, most have been receiving 2 HP's x 3 CA's for 6 total INQ's. So keep that in mind. If your choosing between Venture and Venture 1, most will strongly recommend Venture based on the 2x points and significant CL's Cap One has been offering on this card.
As for the Chase, the CSP has a 4K spend requirement vs $500.00 on the Freedom. If you think you can run thru alot of money on all these cards over the next 90 day's, than by all means, go for it. But don't go too crazy if your unsure. The last thing you want to do is either not reach the requirements and lose the awards, or feel forced to spend more money just to reach these requirements. I'd say Freedom for sure, CSP maybe wait.
As for AAOA, your scores will take a hit to start, but they'll quickly come back. Definitely worth it in the long term. I'd app only cards you require and/or really want/need. Don't app just to app or get approved. You'll end up with cards you don't use, like, or want. Amex is great. I love all my Amex cards. There some of my favorites. I'd definitely recommend getting in with Amex. But go with the PRG Gold, not the standard Gold. You can go "incognito" on Chrome and get the 50K points with 1K spend. That blows away the standard Gold Card. Don't waste your money on the standard. But get the 50K PRG offer. Also go for the BCE back to back, right after the PRG. You'll get 1 EX HP for both in all likelihood.

Re: Amex, Chase or Capital One

OmarGB9 — Fri, 26 Jun 2015 06:02:32 GMT

If it helps, I believe Experian's site offers a free 7 day trial of their services so you can pull up your report as well as your EX score really quick for free essentially. Just be sure to cancel the trial before it expires, otherwise they'll start charging you.

Re: Amex, Chase or Capital One

Anonymous — Fri, 26 Jun 2015 06:03:18 GMT

Chase is pretty strict with their new policy. But if you have a pre qualify, you should get in. I would go for all 3. Chase, Amex & Cap One.

Re: Amex, Chase or Capital One

mlj01 — Fri, 26 Jun 2015 06:03:49 GMT

I will take a look at PRG Gold, do you belive I may have a shot at that card? I do see evey now and then specials for AMEX users on some deals that are on sites such as slickdeals so they always catch my attention.

I believe I would spread them out, and hope some of the bonuses stick around, so I can attempt to get them all. I believe it sounds like CSP has had the 40k bonus for over a year. Sometimes up to 50k. And a 5k bonus for adding a AU which I have been looking at adding my Fiance to help her credit. I also would spread most out to allow for my spending to meet the requirements. I spend around $1k-1.5k average every month.

Would you reconmend the Cap 1 or Amex now and then the travel cards later on to attempt to take advantage of the bonus point next August and then be able to Combine/PC to a non AF card?

Is it a good idea to add a Store Card to my portfolio? I assume Amazon, Kohls, or JCP would be best of those as Kohls and JCP would get me additional discounts occasionally. Amazon has $70 bonus for CC or $40 for their Store card. I believe Sams club only has in Store Credit Lines for business and not for personal.

Re: Amex, Chase or Capital One

mlj01 — Fri, 26 Jun 2015 06:05:27 GMT

Im planning on doing all 3 I believe but spread out. I know this will hurt my AAOA short term, but allow me to possibly max out on bonuses. Would this be a good idea?

Re: Amex, Chase or Capital One

Anonymous — Fri, 26 Jun 2015 06:12:09 GMT

I was kinda in your same position a few days ago

I had my BofA rewards card for about 1yr 2mo before I decide to apply for a few cards

I went with Chase freedom approved for 4.5k

next I applied for Amex blue but denied due to limited credit history

I then went with cap one venture approved for 5k

happy with my little spree I will take a break for a while before going for Amex again

Re: Amex, Chase or Capital One

mlj01 — Fri, 26 Jun 2015 06:16:59 GMT

4.5k so possibly missed Visa Signature by $500. I hope for Signature but doubt I will get it.

I wonder if AMEX BCE for $250 and Chase Freedom for $200 bonuses now will be good. Since they have low spending requirements. Then I will have them avaiable later on to combine CL if decide to in the future after I attempt to get a CSP and C1: Venture. As i believe they would be better to hold off on.

Should I wait till after the 27th and as discover statement will post and FICO will update?

Re: Amex, Chase or Capital One

mlj01 — Fri, 26 Jun 2015 06:21:25 GMT

I can double up on bonuses correct? For example Chase Freedom now and then CSP in a few months? As they are dfiferent cards, as long as the bonus are still offered?

Re: Amex, Chase or Capital One

Anonymous — Fri, 26 Jun 2015 06:31:03 GMT

Yeah I don't see why you wouldn't double up on bonuses

I'd go for freedom, then slate or csp. I'm going slate in a while and they also have no annual fee, csp does I believe

venture is also a great card just got it today, can't wait to start using it.

If you can get Amex blue I'd get it, I wanted that one but denied,then venture took me in lol

Re: Amex, Chase or Capital One

mlj01 — Fri, 26 Jun 2015 06:36:58 GMT

Amex Blue or BCE?

I haven't seen anything in particular on Slate, how does it compare to Freedom and CSP? I know CSP is the best out of the 3 and UR sounds nice. I also wonder how hard they check income, I know they want to see it, but I just started a new job, and other than hockey reffing the last few months didn't have a normal job, and reffing the funds are paid from each association and don't have a standard pay stub, just checks. I worked on campus this year but up till August 2015 worked at a a Bank and saved quite a bit up.

I also forgot to state that I live near the canadian border so the Venture/CSP will be nice(NO FTF) whenever I decide to make my first trip across the border. If not this year I will most likely around the honeymoon time, unless I change honeymoon plans due to bonus rewards! My Discover IT has no FTF but I hear acceptance in Canada is limited.

Re: Amex, Chase or Capital One

Anonymous — Fri, 26 Jun 2015 06:50:58 GMT

@mlj01 wrote:
Amex Blue or BCE?

I haven't seen anything in particular on Slate, how does it compare to Freedom and CSP? I know CSP is the best out of the 3 and UR sounds nice. I also wonder how hard they check income, I know they want to see it, but I just started a new job, and other than hockey reffing the last few months didn't have a normal job, and reffing the funds are paid from each association and don't have a standard pay stub, just checks. I worked on campus this year but up till August 2015 worked at a a Bank and saved quite a bit up.

I also forgot to state that I live near the canadian border so the Venture/CSP will be nice(NO FTF) whenever I decide to make my first trip across the border. If not this year I will most likely around the honeymoon time, unless I change honeymoon plans due to bonus rewards! My Discover IT has no FTF but I hear acceptance in Canada is limited.

BCE is the one I was going for, although I just a pre approval in the mail today

freedom is awesome for now, 200 after spending 500 in 3mo. 1% cash back on everything and they have quarterly deals like right now 5% on gas and kohls lol

slate has no annual fee and 0 apr until October 2016

CSP is the higher tier card and has 40k bonus points after spending 4k in first 3mo. Has 0 intro annual fee and $95 annual fee after

you should be good cause they didn't ask for any proof of income I make 45k/yr

You're correct Venture does not have FTF plus you get 40k pts after spending 3k in the first 3 mo

Re: Amex, Chase or Capital One

mlj01 — Fri, 26 Jun 2015 06:59:26 GMT

Okay so I may do Chase Freedom and Amex BCE now, which i think Chase should be first application as they are tougher on inquiries? Then BCE?

In a few months or 6 if that is better, apply for Venture and/or Quicksilver

(I forget that it is almost July, and I want to have the Venture and/or CSP after August to allow me to use the points in August 2016 and not have AF yet)

Then later on do the CSP but allow enough time to do the spending to get the bonus before booking, maybe I should swap this with Venture as I hear that UR gives better point to $ equivalent when booking thru travel partners.

Now that I think about it maybe CSP before Venture or QuickSilver due to the fact that they don't like inquiries and if my current ones drop soon, and the 1 or 2 from BCE and Freedom will be the ones still on there.

Can anyone think of a good timeline to do this? I should've started looking sooner to take advantage of both CSP and Venture, but if Capital One isn't super picky I could get that 3 months after CSP to allow time to get the bonus, then to start on the Venture bonus, As long as both are still being offered.

Re: Amex, Chase or Capital One

Anonymous — Fri, 26 Jun 2015 07:02:59 GMT

Yes do freedom for now

and if you're pre qualified for BCE go for it

but I had better luck getting venture than BCE lol

Re: Amex, Chase or Capital One

mlj01 — Fri, 26 Jun 2015 07:33:56 GMT

I signed up for transuion and the score on their page is showing me at 781

I am prequalified in mail and online for BCE. I believe I should shoot for that over PRG, as I want to avoid AF and that is only waived for the first year, and Im not prequalified for that one but am for the normal gold.

I can try for both BCE and Freedom now, is it better to do freedom first to not have them say too many inquiries?

I don't believe I should wait and do Freedom and CSP at same time as that makes it $4500 in 3 months vs $4000 when I go for CSP. Even tho less inquiries I would have more credit history on showing responsible on more than one account, as well as Freedom would give me a few months of history with Chase.

Should I hold off on Quicksilver for now?

Edit: Transuinion shows that is Vantage score. If that makes a difference.

Re: Amex, Chase or Capital One

Anonymous — Fri, 26 Jun 2015 08:04:02 GMT

Don't worry about getting approved for the Amex Gold vs PRG. The underwriting is virtually the same on almost all the "charge" cards, namely Green, Gold, PRG, and Plat. These are the easiest cards to be approved from by Amex. Their "credit" cards, BCE, BCP, EDP, ETC.... are tougher. You might as well app for both a charge and credit card back to back. You'll get the both under 1 HP, most likely EX. Don't try going for 2 Amex credit cards back to back. You'll only be approved for the first one while the second one will give you the "we need to speak with you first" and it will go "in process" for a week, than a second HP.
The AF difference between the regular Gold and the PRG is $100.00, however, the PRG offers you an annual $100.00 airline credit, which means it practically costs the same as the Gold, but offers alot more. Plus the 50K bonus sign up for 1K spend over 90 day's. If you're showing prequalified for the Gold, you'll have no issues getting the PRG. Do what you want, but the PRG really is a much, much, better deal. You're first year is free. With the 50K offer, that's almost another 3 year's free, for almost 4 year's total. If you're not happy with it, you can cancel it later.
App Chase BEFORE Cap One or Amex. Chase is much more INQ and new account sensitive vs either Cap One or Amex. Neither of those care much about INQ's or new accounts. I'd go for Freedom now, than Amex PRG, immediately followed by an Amex credit card of your choice, than hit Cap One for a QS. A month or two later, hit Cap One for the Venture. Your CL will most likely be considerably higher if you wait a month or two and you'll likely be hit with the same 6 HP's whether you do both Cap One cards back to back or separated by a month or two. This is the way I would go.

Re: Amex, Chase or Capital One

Anonymous — Sat, 27 Jun 2015 00:07:16 GMT

@mlj01 wrote:
I signed up for transuion and the score on their page is showing me at 781

I am prequalified in mail and online for BCE. I believe I should shoot for that over PRG, as I want to avoid AF and that is only waived for the first year, and Im not prequalified for that one but am for the normal gold.

I can try for both BCE and Freedom now, is it better to do freedom first to not have them say too many inquiries?

I don't believe I should wait and do Freedom and CSP at same time as that makes it $4500 in 3 months vs $4000 when I go for CSP. Even tho less inquiries I would have more credit history on showing responsible on more than one account, as well as Freedom would give me a few months of history with Chase.

Should I hold off on Quicksilver for now?

Edit: Transuinion shows that is Vantage score. If that makes a difference.

The BCE offer at $250 for $1000 spend is excellent, you should jump on that. If you haven't already apped, it's too late for the $200 Freedom offer.

Re: Amex, Chase or Capital One

mlj01 — Sat, 27 Jun 2015 01:23:53 GMT

Maybe do BCE and QuickSilver now?

Then wait to see if $200 freedom comes back? Or just take the $100 loss and do BCE and Freedom now?

Now that I think about it, as long as I go for the CSP and/or the Venture even after 2016 starts could be fine, as if I don't use points for the honeymoon between weddingg and start of school, I can use it for my future wife and I to go south over Christmas vacation by getting Airfare and hotel with the bonus points if they are still offered then.

Im still trying to think of the timeline I should do, and if I should do Freedom now or later

EDIT:

With hefty annual fee I don't know if PRG unless someone tells me otherwise, i don't know if I need a charge card.