topic Re: What Would You Do? in Credit Cards

What Would You Do?

Anonymous — Fri, 18 Nov 2016 22:35:27 GMT

Hi everyone,

The end of the year is approaching and marks the year milestone on my Discover it! Technially my 1 year will be when my December statement cuts. Since I was approved for Discover, not only has it remained my only credit card but I had been planning my 1 year app spree. Well, I have 11 months under my belt with discover but I would like to apply for 2 cards before hitting the 1 year mark because I'd like to put my Christmas items on these cards, as I will be spending the money anyway.

My Discover credit limit is $1500. TU FICO via discover is 756. My scorecard FICO is 777. I am an AU on my fiance's BOA credit card of $2000.

The first question that I have is, to the creditors is there statisticallly in difference in having 11 months of credit history vs 12 months?

Secondly, I'd like to apply for Visa (either a freedom/ freedom unlimited or Capital one Quicksilver Visa), BUT I had an overdrawn bank account with Chase in the amount of $150.00. It is no longer being recordied in Chexsystems (I currently have a BOA checking and saving account). I'd say the overdraft is about 7 or 8 years old. I never paid it. As mentioned eariier, I am also considering hte Quicksilver Visa. I made a post a couple of months ago asking if I have a chance of being approved for this card. The consensus was, yes. However, My score almost 20 points lower than it was when I asked. Do I still have a chance for an approval for this card? Knowing that Capital One triple pulls, if you where in my situation, which card would you risk applying for? Chase, despite the overdrafted bank account or the Quicksilver Visa with the possibilty of being denied and stuck with three hard pulls.

Thanks in advance!

Re: What Would You Do?

austinguy907 — Fri, 18 Nov 2016 22:57:20 GMT

With your Scorecard score being 777 I would go for AMEX and pick one depending on which rewards structure fits best wether Blue cashback or the others being under MR (member rewards). There should be some decent incentives coming for both lines with the season starting. Current holders are getting hit with upgrades and apps for the past couple of months.

As for the 1 year mark it will factor in the 1st of the month not the exact date of the approval. For a second card your best bet would probably be Cap1 as they're reliable on approvals even though it's a Triple pull.

Re: What Would You Do?

SouthJamaica — Fri, 18 Nov 2016 23:54:54 GMT

@Anonymous wrote:
Hi everyone,

The end of the year is approaching and marks the year milestone on my Discover it! Technially my 1 year will be when my December statement cuts. Since I was approved for Discover, not only has it remained my only credit card but I had been planning my 1 year app spree. Well, I have 11 months under my belt with discover but I would like to apply for 2 cards before hitting the 1 year mark because I'd like to put my Christmas items on these cards, as I will be spending the money anyway.

My Discover credit limit is $1500. TU FICO via discover is 756. My scorecard FICO is 777. I am an AU on my fiance's BOA credit card of $2000.

The first question that I have is, to the creditors is there statisticallly in difference in having 11 months of credit history vs 12 months?

Secondly, I'd like to apply for Visa (either a freedom/ freedom unlimited or Capital one Quicksilver Visa), BUT I had an overdrawn bank account with Chase in the amount of $150.00. It is no longer being recordied in Chexsystems (I currently have a BOA checking and saving account). I'd say the overdraft is about 7 or 8 years old. I never paid it. As mentioned eariier, I am also considering hte Quicksilver Visa. I made a post a couple of months ago asking if I have a chance of being approved for this card. The consensus was, yes. However, My score almost 20 points lower than it was when I asked. Do I still have a chance for an approval for this card? Knowing that Capital One triple pulls, if you where in my situation, which card would you risk applying for? Chase, despite the overdrafted bank account or the Quicksilver Visa with the possibilty of being denied and stuck with three hard pulls.

Thanks in advance!

Yes I believe you would definitely get the Capital One Quicksilver, and it's a great card in my book. Go for it. And enjoy it.

Re: What Would You Do?

Anonymous — Sat, 19 Nov 2016 04:29:18 GMT

@austinguy907 wrote:
With your Scorecard score being 777 I would go for AMEX and pick one depending on which rewards structure fits best wether Blue cashback or the others being under MR (member rewards). There should be some decent incentives coming for both lines with the season starting. Current holders are getting hit with upgrades and apps for the past couple of months.

As for the 1 year mark it will factor in the 1st of the month not the exact date of the approval. For a second card your best bet would probably be Cap1 as they're reliable on approvals even though it's a Triple pull.

I do plan on also getting the BCE, in addition to one of the Visas I am considering. Although, My household is small (my fiance and I). I can easily meet the grovery spend. So, you are saying that by the time Dec 1 rolls around, I'll have 12 months of credit history?

Re: What Would You Do?

TiggerDat — Sat, 19 Nov 2016 04:38:56 GMT

Save the Capital One card for last. Try for the Amex you want, then the Chase. If you don't get either or both, then try for the Capital One card. After all if you are going to even consider the three hard pulls from them, then you really should simply try for the other cards, which may or may not be a waste. Why they pull all three is beyond me, unless they simply want to do as much damage to a persons score as they possibly can.

Re: What Would You Do?

Anonymous — Sat, 19 Nov 2016 04:39:06 GMT

@SouthJamaica wrote:
@Anonymous wrote:
Hi everyone,

The end of the year is approaching and marks the year milestone on my Discover it! Technially my 1 year will be when my December statement cuts. Since I was approved for Discover, not only has it remained my only credit card but I had been planning my 1 year app spree. Well, I have 11 months under my belt with discover but I would like to apply for 2 cards before hitting the 1 year mark because I'd like to put my Christmas items on these cards, as I will be spending the money anyway.

My Discover credit limit is $1500. TU FICO via discover is 756. My scorecard FICO is 777. I am an AU on my fiance's BOA credit card of $2000.

The first question that I have is, to the creditors is there statisticallly in difference in having 11 months of credit history vs 12 months?

Secondly, I'd like to apply for Visa (either a freedom/ freedom unlimited or Capital one Quicksilver Visa), BUT I had an overdrawn bank account with Chase in the amount of $150.00. It is no longer being recordied in Chexsystems (I currently have a BOA checking and saving account). I'd say the overdraft is about 7 or 8 years old. I never paid it. As mentioned eariier, I am also considering hte Quicksilver Visa. I made a post a couple of months ago asking if I have a chance of being approved for this card. The consensus was, yes. However, My score almost 20 points lower than it was when I asked. Do I still have a chance for an approval for this card? Knowing that Capital One triple pulls, if you where in my situation, which card would you risk applying for? Chase, despite the overdrafted bank account or the Quicksilver Visa with the possibilty of being denied and stuck with three hard pulls.

Thanks in advance!
Yes I believe you would definitely get the Capital One Quicksilver, and it's a great card in my book. Go for it. And enjoy it.
it was my intital thought as well, going for the quicksilver. But being triple pulls gave me some apprehension, thinking If I was denied I'd be stuck with 3 three hard pulls if I wasn't approved. My decison on which card to apply for reminded me much of this year's election

Re: What Would You Do?

austinguy907 — Sat, 19 Nov 2016 05:08:54 GMT

@Anonymous wrote:
@austinguy907 wrote:
With your Scorecard score being 777 I would go for AMEX and pick one depending on which rewards structure fits best wether Blue cashback or the others being under MR (member rewards). There should be some decent incentives coming for both lines with the season starting. Current holders are getting hit with upgrades and apps for the past couple of months.

As for the 1 year mark it will factor in the 1st of the month not the exact date of the approval. For a second card your best bet would probably be Cap1 as they're reliable on approvals even though it's a Triple pull.
I do plan on also getting the BCE, in addition to one of the Visas I am considering. Although, My household is small (my fiance and I). I can easily meet the grovery spend. So, you are saying that by the time Dec 1 rolls around, I'll have 12 months of credit history?

Yes, your existing card coming up on 1 year if you look at your report should show 1 year of history next month. I have the BCE as well as it matched what I was looking for out of all of their options when I eliminated anything with an AF for starters. ED didn't make sense with the 1% until you hit 20 swipes and then only going up to 1.5% at that point. Plenti seemed useless since it's limited in where you can spend the points with maybe 6-8 partners at the time. Co-Branded didn't match what I was looking for either with the planes / hotels. Cash is easy to deal with and the catagories are simple for making the most of it. I started at 10K moved to 30K at 61 days and bumped it to 50K at a year with a 4506 verification. It's a good grower and anchor for your wallet for sure.

Re: What Would You Do?

Anonymous — Sat, 19 Nov 2016 06:10:35 GMT

Call chase and see if you can pay them the $150. Then apply with them, tons of free money out there to be had with chase.... CSP 70k in branch, CSR 100k, the list goes on....

Re: What Would You Do?

Anonymous — Sat, 19 Nov 2016 08:41:21 GMT

@TiggerDat wrote:
Save the Capital One card for last. Try for the Amex you want, then the Chase. If you don't get either or both, then try for the Capital One card. After all if you are going to even consider the three hard pulls from them, then you really should simply try for the other cards, which may or may not be a waste. Why they pull all three is beyond me, unless they simply want to do as much damage to a persons score as they possibly can.

Thanks for insight on the order I should apply. It was my goal to apply for the Amex first. Thinking about applying for the Chase ellicits some anxiety within me as I am not sure if i'm blacklisted. I see how taking the chance on Chase before Capital One would be wise considering the 3 hard pulls. If I were to go with chase, I'd have to figure out if the freedon or freedon unlimited better suits my spending.

Re: What Would You Do?

Anonymous — Sat, 19 Nov 2016 08:43:30 GMT

@Anonymous wrote:
Call chase and see if you can pay them the $150. Then apply with them, tons of free money out there to be had with chase.... CSP 70k in branch, CSR 100k, the list goes on....

This was an option. However I know it would not neccssarly increase my chances of approval.

Re: What Would You Do?

newhis — Sat, 19 Nov 2016 13:19:00 GMT

@Anonymous wrote:
@Anonymous wrote:
Call chase and see if you can pay them the $150. Then apply with them, tons of free money out there to be had with chase.... CSP 70k in branch, CSR 100k, the list goes on....
This was an option. However I know it would not neccssarly increase my chances of approval.

I will say: don't go with Chase right now. You have low limits on your current cards, it will be hard for Chase to approve you with a high limit (5K CSP, 10K CSR). If you request a CLI it will be HP.

I think:

- have you tried to increase your Discover limit? Ask for increase every month 3 days after your statement close.

- have you tried the Amex pre-qual? They are offering $100 statement credit on $1,000 purchases for 3 months and 10% back on Amazon for the next 6 months (up to $200 cashback), or $150 statement credit on $500 purchases and same Amazon on BCE. BCP offer is $100 extra. 777 is a very good score to get Amex. The card grows fast with SP CLI.

- have you tried the Cap1 pre-qual site?

If you want 2 more cards go with Amex first then Cap1.

If you want to try for Chase (I still say you should wait), try it after the Amex.

Good luck and please report back.

Re: What Would You Do?

newhis — Sat, 19 Nov 2016 13:25:39 GMT

@Anonymous wrote:
Thanks for insight on the order I should apply. It was my goal to apply for the Amex first. Thinking about applying for the Chase ellicits some anxiety within me as I am not sure if i'm blacklisted. I see how taking the chance on Chase before Capital One would be wise considering the 3 hard pulls. If I were to go with chase, I'd have to figure out if the freedon or freedon unlimited better suits my spending.

Freedom Unlimited is a 1.5% cashback/UR points card. If you want the QS, also a 1.5% card, it doesn't make much sense getting both.

I'm against Chase, for now. Once you have cards with better limits, then try Chase.

You can increase your Discover trying each month for SP CLI, that will not hurt your score.

You can increase an Amex every 6 months up to 3X the limit with SP CLI. *first try is before 6 months, some people wait 2 months others 3 statements.

You can increase Cap1 QS every 6 months with SP CLI.

Re: What Would You Do?

Anonymous — Sat, 19 Nov 2016 14:17:32 GMT

Chex Amex and Other pre-Qual sites.

I'd do Amex and Chase or Amex and citi...
or pick a good credit union. Either Penfed, Navy, or a good local one you would benefit from using.

Gl-And congrats on the will power!!! With a score in the upper 700's it would be so hard for many of us to not App.
You seriously deserve some props for that.

Re: What Would You Do?

Anonymous — Sat, 19 Nov 2016 15:41:17 GMT

@newhis wrote:
@Anonymous wrote:
@Anonymous wrote:
Call chase and see if you can pay them the $150. Then apply with them, tons of free money out there to be had with chase.... CSP 70k in branch, CSR 100k, the list goes on....
This was an option. However I know it would not neccssarly increase my chances of approval.
I will say: don't go with Chase right now. You have low limits on your current cards, it will be hard for Chase to approve you with a high limit (5K CSP, 10K CSR). If you request a CLI it will be HP.

I think:
- have you tried to increase your Discover limit? Ask for increase every month 3 days after your statement close.
- have you tried the Amex pre-qual? They are offering $100 statement credit on $1,000 purchases for 3 months and 10% back on Amazon for the next 6 months (up to $200 cashback), or $150 statement credit on $500 purchases and same Amazon on BCE. BCP offer is $100 extra. 777 is a very good score to get Amex. The card grows fast with SP CLI.
- have you tried the Cap1 pre-qual site?

If you want 2 more cards go with Amex first then Cap1.
If you want to try for Chase (I still say you should wait), try it after the Amex.

Good luck and please report back.

I'm due for a credit limit increase with Discover next week. I intent to ask for it then. I don't have any Amex prequals and never have unfortunately. I have tried the prequals for Captial one and I have one for the Quicksilver Visa, a little tipbit I forgot to mention.

Re: What Would You Do?

Anonymous — Sat, 19 Nov 2016 15:46:01 GMT

@Anonymous wrote:
Chex Amex and Other pre-Qual sites.

I'd do Amex and Chase or Amex and citi...
or pick a good credit union. Either Penfed, Navy, or a good local one you would benefit from using.

Gl-And congrats on the will power!!! With a score in the upper 700's it would be so hard for many of us to not App.
You seriously deserve some props for that.

Thanks! I have considered Citi, the DC to be exact but from reading these forums I have come to realize their starting limits aren't so great.

Re: What Would You Do?

newhis — Sat, 19 Nov 2016 19:39:56 GMT

@Anonymous wrote:
I'm due for a credit limit increase with Discover next week. I intent to ask for it then. I don't have any Amex prequals and never have unfortunately. I have tried the prequals for Captial one and I have one for the Quicksilver Visa, a little tipbit I forgot to mention.

Good luck with your Discover CLI, it wil not report to the bureaus until the statement close, so that will not help you in the next few weeks (the lenders see that you have a higher limit).

Your QS pre-qual list a high APR or mid/low one? From reports people get better SL when the APR is mid/low, compared with your current limits. I got a Venture with 15K and my highest limit at that time was 6K, the APR on pre-qual site was the lowest they offer.

I think you could get a 3K card or more, both Amex and QS.

Re: What Would You Do?

austinguy907 — Sat, 19 Nov 2016 19:47:15 GMT

@Anonymous wrote:
I'm due for a credit limit increase with Discover next week. I intent to ask for it then. I don't have any Amex prequals and never have unfortunately. I have tried the prequals for Captial one and I have one for the Quicksilver Visa, a little tipbit I forgot to mention.

AMEX pre-quals seem to be broken for the most part. I never got any either for the past couple of years but, cold apped them and got approved instantly for $10K. Don't base decisions off pre-quals. Get the card you want and just do it!

Re: What Would You Do?

Anonymous — Sat, 19 Nov 2016 20:08:24 GMT

@Anonymous wrote:
Chex Amex and Other pre-Qual sites.

I'd do Amex and Chase or Amex and citi...
or pick a good credit union. Either Penfed, Navy, or a good local one you would benefit from using.

Gl-And congrats on the will power!!! With a score in the upper 700's it would be so hard for many of us to not App.
You seriously deserve some props for that.

This is what I would suggest.

If you are blacklisted with Chase, they SHOULD (should) deny you before doing a HP.

The Cap 1 triple pull is much scarier than it sounds. It's only one pull per CR. If you have zero (seems likely) or a few HPs, it's not even noticable. Anyone else pulling your CR will only see 1 HP from Cap 1.

I am a HUGE fan of Penfed. I would highly recommend them.

And don't ignore Discover. They SP for CLIs, and will let you know (and give you the option to opt out) if they want to do a HP. My Disc grew from $1k to $3.5k with just SPs over less than three years (and if I had known about myFICO when I got the card, I would surely have a much higher CL), and with the OPs great scores, I can't see not getting a CLI from them.

Re: What Would You Do?

Anonymous — Sat, 19 Nov 2016 20:34:47 GMT

@newhis wrote:
@Anonymous wrote:
I'm due for a credit limit increase with Discover next week. I intent to ask for it then. I don't have any Amex prequals and never have unfortunately. I have tried the prequals for Captial one and I have one for the Quicksilver Visa, a little tipbit I forgot to mention.
Good luck with your Discover CLI, it wil not report to the bureaus until the statement close, so that will not help you in the next few weeks (the lenders see that you have a higher limit).

Your QS pre-qual list a high APR or mid/low one? From reports people get better SL when the APR is mid/low, compared with your current limits. I got a Venture with 15K and my highest limit at that time was 6K, the APR on pre-qual site was the lowest they offer.

I think you could get a 3K card or more, both Amex and QS.

The prequal for the Quicksilver has an variable APR of 18.24 after the introductory period.

Re: What Would You Do?

Anonymous — Sat, 19 Nov 2016 20:38:38 GMT

@Anonymous wrote:
@Anonymous wrote:
Chex Amex and Other pre-Qual sites.

I'd do Amex and Chase or Amex and citi...
or pick a good credit union. Either Penfed, Navy, or a good local one you would benefit from using.

Gl-And congrats on the will power!!! With a score in the upper 700's it would be so hard for many of us to not App.
You seriously deserve some props for that.
This is what I would suggest.

If you are blacklisted with Chase, they SHOULD (should) deny you before doing a HP.

The Cap 1 triple pull is much scarier than it sounds. It's only one pull per CR. If you have zero (seems likely) or a few HPs, it's not even noticable. Anyone else pulling your CR will only see 1 HP from Cap 1.

I am a HUGE fan of Penfed. I would highly recommend them.

And don't ignore Discover. They SP for CLIs, and will let you know (and give you the option to opt out) if they want to do a HP. My Disc grew from $1k to $3.5k with just SPs over less than three years (and if I had known about myFICO when I got the card, I would surely have a much higher CL), and with the OPs great scores, I can't see not getting a CLI from them.

I didn't know there would not be a hard pull if I was indeed blacklisted. That is something to think about. Can anyone second this?

I have seen all the talk about Penfed on these forums,but Inahve never considered them before. Maybe I'll give them a look-see.