topic Re: Just another "Should I apply" thread, Amex, Disco, Chase questions :) in Credit Cards

Just another "Should I apply" thread, Amex, Disco, Chase questions :)

Damikester892 — Sun, 06 Mar 2016 17:04:00 GMT

Hey guys!

Pretty excited this week, I had one baddie on my reports and today it fell off the last one, TU!

I'm currently waiting on Myfico 3b ultimate to alert me and give me my new FICO scores but my CCT is showing my Experian went to 716 and EQ went to 698, just waiting on TU's update here on Fico instead of Credit karma (Which is how I know it dropped off today).

Anywho, heres the profile:

Credit cards: 5

Cap one Secured (2/2015) $550 limit

Credit One (Closing it soon, but 6/2015) $600 limit

Wells Fargo rewards card (10/2015) $700 Limit

Capital One QS1 (10/2015) $1500 limit

BarclayCard Rewards (10/2015) $500 limit

Total Limit: $3850

UIltilzation: 29%

AAoA: 7 months

Baddies: 0

EQ Score: 698

EX Score: 716

TU Score: Waiting on update alert after baddie fell off today.

I want to get atleast 2 cards (Closing the credit one card in May, closing the secured card soon)

My "dream" I guess you could say was always Amex and Disco, I'd really like to have those if you guys think the profile supports it.

I was also thinking about getting a foot in the door with Chase however I noticed the 5/24 rule (thank god for this forum) and all the controversary around "First time chase members might have a chance".

I'm at 5/24 exactly so I was wondering if it were a smart move to try for it?

After this little app spree I'm going to garden the accounts for 2 years because theres no other cards that even catch my interest right now so I was wondering if I should just app the Amex and Disco first then just throw an app at the Freedom last to avoid it harming my chances at amex and disco and see if they give me the 5/24 reason? The HP will fall off by the time I apply for new cards anyway.

Thanks a lot for the feedback in advance guys!

P.S I know app sprees are never good, however just try to understand that my scores recently jumped 80+ points this week and I'm obviously excited, So I would love to get better cards and close my subprimes, better to fit my improved profile.

My last goal after these is to PC my QS1 to a QS but that can't be done until April (6 month mark) so I'll wait.

Re: Just another "Should I apply" thread, Amex, Disco, Chase questions :)

OmarGB9 — Sun, 06 Mar 2016 17:11:48 GMT

AAoA seems a little short, although the good news is Amex and Disco both like thin files, so you might have a pretty good chance. I'd app for Disco first then Amex (since Amex isn't really inquiry sensitive, while Disco might be). As for Freedom, if you're at 5/24 already, I wouldn't risk the HP, because the rule is 5 or more new accounts in 24 months, so you already reached the 5 account threshold.

Re: Just another "Should I apply" thread, Amex, Disco, Chase questions :)

Damikester892 — Sun, 06 Mar 2016 17:17:51 GMT

@OmarGB9 wrote:
AAoA seems a little short, although the good news is Amex and Disco both like thin files, so you might have a pretty good chance. I'd app for Disco first then Amex (since Amex isn't really inquiry sensitive, while Disco might be). As for Freedom, if you're at 5/24 already, I wouldn't risk the HP, because the rule is 5 or more new accounts in 24 months, so you already reached the 5 account threshold.

Thanks OmarGB9!

I'd like to highlight the part of my post shoved at the bottom incase you overlooked it in my mess of a blabber post haha,

"After this little app spree I'm going to garden the accounts for 2 years because theres no other cards that even catch my interest right now so I was wondering if I should just app the Amex and Disco first then just throw an app at the Freedom last to avoid it harming my chances at amex and disco and see if they give me the 5/24 reason? The HP will fall off by the time I apply for new cards anyway."

Still wouldn't risk the HP considering I don't see it effecting me?

Re: Just another "Should I apply" thread, Amex, Disco, Chase questions :)

jbsea — Sun, 06 Mar 2016 17:20:47 GMT

I agree with Omargb, I would not app for the chase card.... But I think you would be fine with Discover and Amex. Both great cards and will grow with you.

Re: Just another "Should I apply" thread, Amex, Disco, Chase questions :)

OmarGB9 — Sun, 06 Mar 2016 17:25:02 GMT

No, I saw it, lol. I was just trying to avoid you potential disappointment. But if you're willing to take the risk, I'd say go for it.

Re: Just another "Should I apply" thread, Amex, Disco, Chase questions :)

Damikester892 — Sun, 06 Mar 2016 17:28:40 GMT

@OmarGB9 wrote:
No, I saw it, lol. I was just trying to avoid you potential disappointment. But if you're willing to take the risk, I'd say go for it.

Haha after having my points jump this recently I'd probably just chuckle if they gave me the 5/24 reason, more of an experiment ;P

Lastly before I apply I notice a lot of "This card compliments this, this goes good with that, etc" and when I got my QS1, I found out later I should have gotten the Platinum as well and PC'd it to QS after 2 months then combined them in 6 months for one larger credit limit QS.

Is there any thing else I should go for to compliment my cards right now? Don't want to make the mistake of finding out down the road like I did with my QS1.

Re: Just another "Should I apply" thread, Amex, Disco, Chase questions :)

Damikester892 — Sun, 06 Mar 2016 17:37:55 GMT

Holy crap, theres something I didn't expect lol

App'd for the Discover IT, approved instantly for $6,500

Now for the AMEX....

Re: Just another "Should I apply" thread, Amex, Disco, Chase questions :)

OmarGB9 — Sun, 06 Mar 2016 17:43:09 GMT

Well, the cards complimenting each other thing is based on your needs and spend. For example, some people say Freedom paired with CSP is a good combo, but that may not work out for everyone.

That being said, if you want to, you could app for an Amex revolver first, and then if approved for that, go for one of their credit cards. But again, only do that if it makes sense for you. Which reminds me, which Amex were you looking at, exactly?

Re: Just another "Should I apply" thread, Amex, Disco, Chase questions :)

OmarGB9 — Sun, 06 Mar 2016 17:44:23 GMT

Dang nice SL! Congrats!

Re: Just another "Should I apply" thread, Amex, Disco, Chase questions :)

Anonymous — Sun, 06 Mar 2016 17:47:31 GMT

I'd say your chances are decent for both Amex and Discover.

For Amex, I would recommend going for the SPG as the card will eventually go away, so it's good to take advantage of the 35k signup bonus (highest ever) right now. The fee is waived the first year, $95 thereafter, but retention offers seem frequent. Its nominal earnings potential is low at 1 Starpoint per dollar for all purchases, but Starpoints are extremely valuable if you can make use of their hotel awards and transferrable transfer partners. You gotta spend $3k in 3 months to get the bonus, which may be difficult (I'll have to resort to paying my rent via Plastiq to meet the bonus).

The PRG is also a great card with the 3/2/1 structure, and MR points are also a good currency. Make sure you get the 50k signup bonus via incognito ($1k spend w/in 3 months). Fee also waived the first year, $95 thereafter. For a no-fee card, I would suggest BCE or ED, but there have been higher sign-up bonuses in the past so I would hold off.

DIscover double cash back promo makes it my go-to card at the moment. Great categories this year as well. I would wait until the TU baddie falls off, since I believe they pull TU quite frequently for applications. Of course, try to use a referral link for all these offers to pass on the earnings!

Re: Just another "Should I apply" thread, Amex, Disco, Chase questions :)

Damikester892 — Sun, 06 Mar 2016 17:49:00 GMT

@OmarGB9 wrote:
Dang nice SL! Congrats!

Thanks!

I was apping on amex as you were responding I guess, went for the BCE, got approval with 3k limit!

Might go for a 2x increase to match the disco more, or just wait a few months and go for 3x..

Not sure if I care about chase anymore at the moment, lines are pretty good on these two.. Wanna hit their bonuses in the first 3 months anyway.

Re: Just another "Should I apply" thread, Amex, Disco, Chase questions :)

OmarGB9 — Sun, 06 Mar 2016 17:54:45 GMT

Oh nice! Two for two! Great lines!
Like I said in my earlier post above, if you're interested in a charge card, you could app for that as well, and hopefully have the two inquiries combine into one. YMMV though.

Re: Just another "Should I apply" thread, Amex, Disco, Chase questions :)

Anonymous — Sun, 06 Mar 2016 18:00:41 GMT

Just apply for the chase card now before the others show up. I bet you would get approved. Apply for the Freedom and the AARP card which will net you $375 after 1k spend in 90 days.

Re: Just another "Should I apply" thread, Amex, Disco, Chase questions :)

Damikester892 — Sun, 06 Mar 2016 20:12:35 GMT

Thanks for the help guys!

I went for the Freedom just to experiment and I did indeed get hit with 5/24 as we pretty much expected.

The AARP card counts toward the 5/24 as well I assume correct?

Lastly I know cap one isn't in the title but if anyone reading this is cap one experts, should I grab a QS with my new scores and combine my QS1 into it in six months or just stop now and PC the QS1 into a QS when I get the offer?

I would prefer a visa/master card with a higher limit to match my discover / amex but I just got a CLI on my QS1 last week so I don't believe I can get another increase for six months even if I PC it?

Re: Just another "Should I apply" thread, Amex, Disco, Chase questions :)

Anonymous — Sun, 06 Mar 2016 20:42:37 GMT

@Damikester892 wrote:
Thanks for the help guys!
I went for the Freedom just to experiment and I did indeed get hit with 5/24 as we pretty much expected.
The AARP card counts toward the 5/24 as well I assume correct?

Lastly I know cap one isn't in the title but if anyone reading this is cap one experts, should I grab a QS with my new scores and combine my QS1 into it in six months or just stop now and PC the QS1 into a QS when I get the offer?
I would prefer a visa/master card with a higher limit to match my discover / amex but I just got a CLI on my QS1 last week so I don't believe I can get another increase for six months even if I PC it?

You only have added 4 cards in the last 2 years, and the new ones should not have shown up yet. What message did it give you?

Call the app status line and if it says 2 weeks or 30 days let it rest and its an approval 8004367927

AARP does not count towards 5/24 yet rumors that it will but theres no evidence of that yet.

Re: Just another "Should I apply" thread, Amex, Disco, Chase questions :)

Damikester892 — Sun, 06 Mar 2016 20:56:29 GMT

I've got 5, it gave me the 7 10 day message so I called the backdoor and the guy let me know it was denied for 5/24.
However if the AARP isn't included maybe I'd go for it, for some reason I thought AARP had age requirements or something like that?

Re: Just another "Should I apply" thread, Amex, Disco, Chase questions :)

Anonymous — Sun, 06 Mar 2016 21:21:16 GMT

@Damikester892 wrote:
I've got 5, it gave me the 7 10 day message so I called the backdoor and the guy let me know it was denied for 5/24.
However if the AARP isn't included maybe I'd go for it, for some reason I thought AARP had age requirements or something like that?

I thought you only had 4 cards reporting in the last 2 years. Yeah they would almost always not approve you for the freedom if you have 5.

There is a chance if you apply today that they will use the same inquiry but its not guaranteed.

No age restriction with AARP. Spend $500 get $200 back free in 90 days. unlimited 3% back on gas and dining. Just make sure you apply through the right link:

http://view.offers.aarp.org/?j=fec01d757762037f&m=fe8c157073600d7a7d&ls=fe6817707760077a7615&l=ff9c1671&s=fe5115797d67037a7210&jb=ff3010707d67&ju=fe531676736c0d7a7512&r=0

If you want to be bold you could pick two chase cobranded cards and just let them process on their own, do not call in to recon if its not instant approval, they probably wont both be instant approvals. Def consider the AARP you could also look at IHG or Hyatt or Mariott

Dont apply for more cap1 cards, just pc what you have when possible. Look into a credit union later if a larger limit visa is what you are after.

Safest bet, just app for the AARP today and garden. If you want to live on the edge, pick a 2nd cobranded card but only if you can meet the min spend and its of use. IHG is at 60k points and they should match the 20k addt'l by sending a secure message.

Only get the AARP if its actually of use to you. Because really you have done a good job with the other recent approvals. But if by chance 5/24 does start to include cobranded cards then you will be SOL.

Re: Just another "Should I apply" thread, Amex, Disco, Chase questions :)

red259 — Sun, 06 Mar 2016 23:02:03 GMT

@OmarGB9 wrote:
AAoA seems a little short, although the good news is Amex and Disco both like thin files, so you might have a pretty good chance. I'd app for Disco first then Amex (since Amex isn't really inquiry sensitive, while Disco might be). As for Freedom, if you're at 5/24 already, I wouldn't risk the HP, because the rule is 5 or more new accounts in 24 months, so you already reached the 5 account threshold.

They don't "like" thin files. its just they are not as sensitive about them as some other lenders. Its not like they would turn someone away who had a thick file in favor of a person with a thin file.

Re: Just another "Should I apply" thread, Amex, Disco, Chase questions :)

red259 — Sun, 06 Mar 2016 23:16:09 GMT

@Damikester892 wrote:
Hey guys!
Pretty excited this week, I had one baddie on my reports and today it fell off the last one, TU!
I'm currently waiting on Myfico 3b ultimate to alert me and give me my new FICO scores but my CCT is showing my Experian went to 716 and EQ went to 698, just waiting on TU's update here on Fico instead of Credit karma (Which is how I know it dropped off today).

Anywho, heres the profile:
Credit cards: 5
Cap one Secured (2/2015) $550 limit
Credit One (Closing it soon, but 6/2015) $600 limit
Wells Fargo rewards card (10/2015) $700 Limit
Capital One QS1 (10/2015) $1500 limit
BarclayCard Rewards (10/2015) $500 limit
Total Limit: $3850
UIltilzation: 29%
AAoA: 7 months
Baddies: 0
EQ Score: 698
EX Score: 716
TU Score: Waiting on update alert after baddie fell off today.

I want to get atleast 2 cards (Closing the credit one card in May, closing the secured card soon)
My "dream" I guess you could say was always Amex and Disco, I'd really like to have those if you guys think the profile supports it.
I was also thinking about getting a foot in the door with Chase however I noticed the 5/24 rule (thank god for this forum) and all the controversary around "First time chase members might have a chance".
I'm at 5/24 exactly so I was wondering if it were a smart move to try for it?
After this little app spree I'm going to garden the accounts for 2 years because theres no other cards that even catch my interest right now so I was wondering if I should just app the Amex and Disco first then just throw an app at the Freedom last to avoid it harming my chances at amex and disco and see if they give me the 5/24 reason? The HP will fall off by the time I apply for new cards anyway.

Thanks a lot for the feedback in advance guys!
P.S I know app sprees are never good, however just try to understand that my scores recently jumped 80+ points this week and I'm obviously excited, So I would love to get better cards and close my subprimes, better to fit my improved profile.
My last goal after these is to PC my QS1 to a QS but that can't be done until April (6 month mark) so I'll wait.

Your AAoA is a bit short, but if you really want a chase card I would not avoid applying just because of the 5/24 rule. Like you said you are going into the garden for two years so a 5/24 rejection doesn't mean anything. Maybe you can get the freedom/maybe not. Amex and Discover are good cards in the sense that you can SP grow the credit lines over time while you garden. With chase you may get some auto clis if you use the card enough, but those are iffy and your amex/discover cards will likely far outgrow your chase cards. Chase is better on the initial credit line than many lenders, but the tradeoff is that it is much harder to grow those lines later.

Update: heh a lot of my post is based on your earlier posts and then I got to the point that you already acted so gratz on your cards. I think it was worth taking a shot at the freedom because why the heck not. As for the chase co-brands I don't know that your profile would be able to get you the required min credit lines. You would need to ask yourself if you can make the min spend on them as well. I think you are in good shape with what you did and you should consider going into the garden and working the cards you have.

Re: Just another "Should I apply" thread, Amex, Disco, Chase questions :)

Damikester892 — Mon, 07 Mar 2016 02:35:01 GMT

Thank you all for the congratulations and help!
After the chase experiment I decided I was happy with the amex and disco and to leave it at that
One last question for you amex experts, when I request the CLI upon activation, will they use the same credit pull they used when I applied? Or will they see the chase inquiry that I applied for after amex?
Also I know you can do up to 3x cli request but how often does 3x work at activation? Should I be a little more conservative and go for 2x request and then try the 3x in 6 months?
Thanks again all!