topic Re: Advice and Recommendations in Credit Cards

Advice and Recommendations

Anonymous — Thu, 08 Jun 2017 20:52:01 GMT

As a long time reader first time poster, I am looking for some input on what i should do about an upcoming vacation. I have recieved a prequal for the CSP in my offers on chase but I dont't know if I'd really get approved because of my low income ($30,000). In addition, I opened a BCP last December and have'nt pull the CLI trigger yet. So I am torn between apping for a new card for the signup bonus and travel perks or just going for a CLI on the Amex.Here's more information about my overall file.

Credit Cards:

Amex BCP: 500/2000 (0% APR)

BoA Cashrewards: 300/1800

Barclay Rewards: 700/2500 (0%APR)

Chase Freedom: 700/3000

Citi DC: 1000/7100

Discover IT: 5000/12900 (i know well over 30%)

Gap Visa: 0/9800

Student Loans: 28000

Car Loan: 12000

Scores: EX: 741 TU:733 Eq: 721 (Citi)

Inquires: Ex: 3 (2 falling off this month) Eq: 1 (falling off this month) TU: 1 (falling off this month

AAoA: 3.3 years, 40 months, 1 new account in 2 years.

Basically I'm just looking for recommendations and advice on what I should do... ie go for the CSP or just try for a CLI thru amex. Feel free to ask any other infomation if I missed something. Also not sure if this goes here or if it would be better in the Credit cards sub.

Re: Advice and Recommendations

enjoimorenow — Fri, 09 Jun 2017 01:51:40 GMT

Well chase prequals are usually pretty solid so if you got it you are likely to be approved. Low income doesn't mean you can't get the card, they care more about your ability to pay the debts and not over extend yourself.

I'd ask whether the card will benefit you, and if it's worth the $95 annual fee after the first year. With the sign up bonus i'd say it's worth it and then after the first year if you wouldn't spend enough to cover the AF then you can always PC to a freedom or freedom unlimited.

Also, getting the chase card and a CLI with AMEX are not mutually exclusive. You can certainly attempt both.

Re: Advice and Recommendations

Anonymous — Fri, 09 Jun 2017 01:58:40 GMT

Ok thanks for the feedback, I wasn't really sure. Im also looking at the SPG. Would I have to forego a CLI if I applied for that card?

Re: Advice and Recommendations

SouthJamaica — Fri, 09 Jun 2017 02:02:41 GMT

@Anonymous wrote:
As a long time reader first time poster, I am looking for some input on what i should do about an upcoming vacation. I have recieved a prequal for the CSP in my offers on chase but I dont't know if I'd really get approved because of my low income ($30,000). In addition, I opened a BCP last December and have'nt pull the CLI trigger yet. So I am torn between apping for a new card for the signup bonus and travel perks or just going for a CLI on the Amex.Here's more information about my overall file.

Credit Cards:

Amex BCP: 500/2000 (0% APR)
BoA Cashrewards: 300/1800
Barclay Rewards: 700/2500 (0%APR)
Chase Freedom: 700/3000
Citi DC: 1000/7100
Discover IT: 5000/12900 (i know well over 30%)
Gap Visa: 0/9800

Student Loans: 28000

Car Loan: 12000

Scores: EX: 741 TU:733 Eq: 721 (Citi)

Inquires: Ex: 3 (2 falling off this month) Eq: 1 (falling off this month) TU: 1 (falling off this month

AAoA: 3.3 years, 40 months, 1 new account in 2 years.

Basically I'm just looking for recommendations and advice on what I should do... ie go for the CSP or just try for a CLI thru amex. Feel free to ask any other infomation if I missed something. Also not sure if this goes here or if it would be better in the Credit cards sub.

I don't see why you need to choose. Amex CLI requests are soft pull.

Re: Advice and Recommendations

Anonymous — Fri, 09 Jun 2017 02:44:23 GMT

if I was thinking about applying for the spg and csp, in addition to a cli. should i apply for the first?

Re: Advice and Recommendations

enjoimorenow — Fri, 09 Jun 2017 03:45:32 GMT

Depending on where you are with 5/24 apply for chase first then SPG second. You can apply for SPG and also ask for CLI.

Re: Advice and Recommendations

Anonymous — Fri, 09 Jun 2017 04:29:58 GMT

As of now im 4/24, but on the 11th 3 inquires fall off. so should i just wait til they fall off or does it not really matter since im under 5/24

Re: Advice and Recommendations

enjoimorenow — Sat, 10 Jun 2017 04:33:28 GMT

It won't matter if you apply for chase first, but if you apply for AMEX first then you will be at 5/24 and will have to wait for inquiries to fall off, which is why I suggested doing chase first then amex second.

Re: Advice and Recommendations

Anonymous — Sat, 10 Jun 2017 17:30:49 GMT

OK, that makes sense. Thanks for your help. Ill report back with results.