topic amex blue cash or chase freedom in Credit Cards

amex blue cash or chase freedom

Anonymous — Thu, 05 Apr 2012 05:46:32 GMT

Been thinking about getting this card. Just checked my fico and it is 790s w/ no negs. What credit limit range do you think I can get if my income is ~50k? I want to get a new everyday cashback card, and don't want to apply to multiple if disappointed w/ credit limit.

Re: amex blue cash or chase freedom

Revelate — Thu, 05 Apr 2012 06:20:16 GMT

Welcome to the forums; I'm nowhere close to an expert but from the anecdotal evidence I've seen here limits are quite often more of a factor of what CL's you currently have, rather than a simpler equation involving FICO and income alone. Also with the same caveat (lack of true statistical relevancy) Amex appears to be less stingy with limits than Chase is in the current market.

I'd suggest simply looking at the cash back structure for both with your spending profiles and just pick the one that earns you the most for your habits... limits can always increase, and you can pay multiple times in a month if you have to though I admit I find this annoying personally.

Edit: I apologize, CL estimating is about as accurate as phrenology and I didn't actually answer your equestion =/

Re: amex blue cash or chase freedom

improvingmycredit — Thu, 05 Apr 2012 06:48:57 GMT

@Revelate wrote:
Welcome to the forums; I'm nowhere close to an expert but from the anecdotal evidence I've seen here limits are quite often more of a factor of what CL's you currently have, rather than a simpler equation involving FICO and income alone. Also with the same caveat (lack of true statistical relevancy) Amex appears to be less stingy with limits than Chase is in the current market.

I'd suggest simply looking at the cash back structure for both with your spending profiles and just pick the one that earns you the most for your habits... limits can always increase, and you can pay multiple times in a month if you have to though I admit I find this annoying personally.

+1 Welcome to the forums!

I agree that limits tend to be around the same as the one's you currently have, however, my brother, is in the same income bracket and has roughly the same score applied for the Chase Freedom and got a $3500 limit. Most of his limits were at least $1500 less then the Chase approved limit. I think this might be a good reference for you. As always- YMMV. I also must put my 2 cents in... I'd app for the Amex because even if you don't get the starting limit you are looking for, SP's for cli request, 61 day opportunity for 3X your starting limit and backdating on new Amex accounts are a good argument for this card. Again, just my 2 cents.

I hope this helps you.

Re: amex blue cash or chase freedom

Anonymous — Thu, 05 Apr 2012 12:37:59 GMT

I love the combo for Chase Freedom + Chase Checking much more than my AMEX BCE, but the AMEX BCE by far has the better CL.

I got 1,400 on my Freedom and 9,500 on my BCE and I'm due up for a CLI on AMEX in about 30 days.

If you're a 790, why not get BOTH?

That way you can maximize the rewards, even if it's split amongst two cards.

Re: amex blue cash or chase freedom

RockinRay — Thu, 05 Apr 2012 14:20:55 GMT

@Anonymous wrote:

If you're a 790, why not get BOTH?
That way you can maximize the rewards, even if it's split amongst two cards.

+1 - with you score it looks like both cards would not be a problem for approval.

Let us know what you do and good luck.

Re: amex blue cash or chase freedom

pizzadude — Thu, 05 Apr 2012 14:21:34 GMT

@Anonymous wrote:
Been thinking about getting this card. Just checked my fico and it is 790s w/ no negs. What credit limit range do you think I can get if my income is ~50k? I want to get a new everyday cashback card, and don't want to apply to multiple if disappointed w/ credit limit.

One thing to consider is future CLI potential and AMEX is fairly good about giving these. At 60 days from approval you can request 3X your current CL, and then CLs at 6 month intervals I believe, and these are all soft pulls.

I'm not familiar with Chase's CLIs but I believe they are likely Hard Pulls.

Re: amex blue cash or chase freedom

Anonymous — Thu, 05 Apr 2012 14:24:23 GMT

Yes, Chase CLIs are hard pulls.