topic Re: What should my next move be? in Credit Cards

What should my next move be?

Anonymous — Fri, 12 Jun 2020 00:16:53 GMT

All 3 credit reports are avg 730

my current cards:

capital one QS1: $500 (sigh)

discover cash back: $2300

chase sapphire preferred: $5000

looking to add one more card to get my credit line up, what would be my best option?

Re: What should my next move be?

dragontears — Fri, 12 Jun 2020 00:22:00 GMT

best option is to get a card that fits your spending

Re: What should my next move be?

Anonymous — Fri, 12 Jun 2020 00:26:55 GMT

Just wondering who offers a higher credit line. Seeing as I have the CSP I don't really need travel rewards. So cash back or restaurant rewards would be optimal. Just don't want to apply for a new CC and get a useless $1000 line

Re: What should my next move be?

Anonymous — Fri, 12 Jun 2020 00:39:47 GMT

Try BB&T pre-qualify ( link below ). If you qualify and it shows you card choices, you may see if one of theirs fits what your spending habits / goals are...look at what APR it says you pre-qualify for, if it is on the lowest of their offerings you should get a pretty good limit. Higher range APR typically suggests lower starting limit. Most starting limits lately seem to be 3500 - 6500 for the higher rates and 10,000 - 15,000 for the lowest rates. YMMV. Most of us that have accepted a pre-approval offer have been getting full approvals with no hard pulls, soft pulls only for EQ. Should you want one of the cards if pre-qualified, complete process right then as you may lose offers by exiting out of screen and won’t return for another 30-45 days. Also, make sure you enter your name, address, etc exactly as appears on EQ if current as you may have to complete in branch rather than on-line for verification purposes. BB&T is not available in all states, but hopefully will be in yours. Good luck!

https://www.bbt.com/offers/checkOffers

Edit to add: I got 11k starting limit with 13.24 APR for Spectrum Cash Rewards

Re: What should my next move be?

Anonymous — Fri, 12 Jun 2020 01:08:13 GMT

Depending on the age of your credit profile, you may be a good candidate for Amex as well.

Re: What should my next move be?

Anonymous — Fri, 12 Jun 2020 01:15:44 GMT

Denied for an amex gold card. Tried to recon and they told me to just wait the 30 days. Was denied for too high a revolving balance on my discover card. But my utilization is currently at 13%

I found it weird when I asked the representative on the phone if I could apply for any credit cards instead and he said I'd automatically be denied 🤷🏻‍♂️

im thinking maybe double dipping chase and getting a freedom card maybe. Or something from Citi

Re: What should my next move be?

Anonymous — Fri, 12 Jun 2020 01:32:03 GMT

Depending on how high a starting limit you want, Chase could be decent. Worth seeing if you're pre-qualified at the very least. Combining a Freedom with a Sapphire can be a good move to own URs, and you can always cash it out as cash back if you don't want to convert to UR. Not sure that they'd give you a huge starting limit though.

Big starting limits may be harder to come by from lenders right now, but data points suggest good profiles still haven't been effected a whole lot. Waiting out on Amex and lowering that balance may be worth it with the possibility of 3x CLI.

Re: What should my next move be?

Anonymous — Fri, 12 Jun 2020 01:35:26 GMT

The Freedom would be a good idea to compliment your CSP.

Re: What should my next move be?

K-in-Boston — Fri, 12 Jun 2020 01:36:06 GMT

@dragontears wrote:
best option is to get a card that fits your spending

I would not attempt a double-dip with Chase. Your recent CSP approval was marginal, so it is unlikely that they would extend any further credit. Would almost certainly be a waste of a HP, possibly two.

Perhaps consider gardening for a while and let those new accounts age.

Re: What should my next move be?

Anonymous — Fri, 12 Jun 2020 01:39:17 GMT

My condo is directly across from a chase bank. Would it be worth a shot at heading in tomorrow to see if I'm pre-approved?

Re: What should my next move be?

K-in-Boston — Fri, 12 Jun 2020 01:40:51 GMT

@Anonymous wrote:
My condo is directly across from a chase bank. Would it be worth a shot at heading in tomorrow to see if I'm pre-approved?

Since it's not exactly out of the way, that may not be a bad idea.

Re: What should my next move be?

Anonymous — Fri, 12 Jun 2020 01:46:46 GMT

The Freedom Unlimited pairs well with a Sapphire card. This is only true if you value Chase points and can use them at decent valuations.

In my opinion the Freedom (not unlimited) requires too much effort.

Follow other members' advice regarding Chase underwriting.