topic Re: So Can I and should I? in Credit Cards

So Can I and should I?

bluesnowman — Wed, 02 Oct 2013 03:53:24 GMT

Well as many of you that have read my garden thread, you know that I garden the best I can as well as thinking of cards to apply/strategy to have my credit as it can be. Here is my history:

I have a total of six cards:

1. Bank Of America Cash Rewards (recieved this as my first ever card with a 700 limit. I got a CLI and it was bumped to 1,000.) I opened it on April 25th, 2012.

2. Citi Forward student (The main reason I got this was for school and I eat out quite a bit, and also I wanted to be in with a prime lender like Citi.) I opened this on October 27th of last year. And they gave me an initial limit of 1,500 of which I have not asked for a CLI yet.

3. Discover More (The reason why I got this card was because I also wanted to try my luck with Discover and thankfully they approved me. I applied the same night that I applied for the Citi Forward.) Got an instant approval with a 1,500 line. Still not have asked for a CLI as I think they are pretty conservative and I'd rather not take a HP for a CLI at this point.

4. Amex Premier Rewards Gold. Got this card because I have always wanted an Amex and as well I wanted to build a relationship with them. I was approved for the card on November 24, 2012. Got approved for it Instantly. NPSL.

5. Chase Freedom- Decided not to app until May 1st (waited for six months from my last app.) and apped early that morning and recieved another instant approval with an initial limit of 2,400. Got it obviously for the Cashback and the categories. It is also my main card for everyday spend that I don't use my other cards categories for. Still not have asked for a CLI yet either, but hopefully will be able to qualify for one next month or later on.

6. Chase Southwest Rapid Reward Plus card. I wanted a travel card whether it would have been hotel or airline and I fly with Southwest if I'm not flying with AA at the time. Did not recieve an instant approval, but I logged in the next morning and found out that it was added to my list of Chase cards. They have given me an initial limit of 3.6k. Used for rather large purchases (unusual purchases or airline tickets.)

Inquiries:

EQ: 2 (AT&T when I was getting a new account set up, and when Amex triple pulled me, that led to an HP on EQ.)

EX:6 (Citi, Chase Freedom the first time, did not get it, Amex, Chase again in May, Chase again in June, Citi in June, I wanted the AA card but they denied me saying that they want to see more history from me before approving me.) As you can also see in my sigs is when I apped for the cards and the date the card was opened.

TU: 3. (Discover, Amex triple pull, BOFA CLI)

Income: I'm a student but my income will next year. I will use my current income of 12k when I app since I'll use my new income next year when I app and get CLI's.(and I'll have one year of being there.)

Living situation: I live with my parents at the moment, and don't pay rent. I do pay for any time I go out, Gas, Phone bills, tuition, books etc. My HHI is 250k.

my scores last time I checked were EX: 732 TU: 743., EQ: 724. Back in september. Not sure what my AAOA would be. I also have a current balance of 131.78 on my Freedom card that will be paid this weekend. All others are paid off so It's good other then that. I want the SPG and the BCE, do I have a chance either when it comes time to app?

Re: So Can I and should I?

bluesnowman — Wed, 02 Oct 2013 03:23:54 GMT

Bump.

Re: So Can I and should I?

myjourney — Wed, 02 Oct 2013 03:42:35 GMT

@bluesnowman wrote:
Bump.

BADDIES?

Re: So Can I and should I?

bluesnowman — Wed, 02 Oct 2013 03:52:11 GMT

Myjourney- I don't have any baddies.

Re: So Can I and should I?

myjourney — Wed, 02 Oct 2013 04:09:33 GMT

@bluesnowman wrote:
Well as many of you that have read my garden thread, you know that I garden the best I can as well as thinking of cards to apply/strategy to have my credit as it can be. Here is my history:

I have a total of six cards:
1. Bank Of America Cash Rewards (recieved this as my first ever card with a 700 limit. I got a CLI and it was bumped to 1,000.) I opened it on April 25th, 2012.
Ask for CLI
2. Citi Forward student (The main reason I got this was for school and I eat out quite a bit, and also I wanted to be in with a prime lender like Citi.) I opened this on October 27th of last year. And they gave me an initial limit of 1,500 of which I have not asked for a CLI yet.
Not sure
3. Discover More (The reason why I got this card was because I also wanted to try my luck with Discover and thankfully they approved me. I applied the same night that I applied for the Citi Forward.) Got an instant approval with a 1,500 line. Still not have asked for a CLI as I think they are pretty conservative and I'd rather not take a HP for a CLI at this point.
PC to it card for the different catergories
4. Amex Premier Rewards Gold. Got this card because I have always wanted an Amex and as well I wanted to build a relationship with them. I was approved for the card on November 24, 2012. Got approved for it Instantly. NPSL.
You need to make the call on this one Lol
IMHO apply for the other card you want BCE and if approved then close
5. Chase Freedom- Decided not to app until May 1st (waited for six months from my last app.) and apped early that morning and recieved another instant approval with an initial limit of 2,400. Got it obviously for the Cashback and the categories. It is also my main card for everyday spend that I don't use my other cards categories for. Still not have asked for a CLI yet either, but hopefully will be able to qualify for one next month or later on.
See if you get auto luv
6. Chase Southwest Rapid Reward Plus card. I wanted a travel card whether it would have been hotel or airline and I fly with Southwest if I'm not flying with AA at the time. Did not recieve an instant approval, but I logged in the next morning and found out that it was added to my list of Chase cards. They have given me an initial limit of 3.6k. Used for rather large purchases (unusual purchases or airline tickets.)
Do you travell enough for this card?

Inquiries:
EQ: 2 (AT&T when I was getting a new account set up, and when Amex triple pulled me, that led to an HP on EQ.)
EX:6 (Citi, Chase Freedom the first time, did not get it, Amex, Chase again in May, Chase again in June, Citi in June, I wanted the AA card but they denied me saying that they want to see more history from me before approving me.) As you can also see in my sigs is when I apped for the cards and the date the card was opened.
TU: 3. (Discover, Amex triple pull, BOFA CLI)

Income: I'm a student but my income will next year. I will use my current income of 12k when I app since I'll use my new income next year when I app and get CLI's.(and I'll have one year of being there.)

Living situation: I live with my parents at the moment, and don't pay rent. I do pay for any time I go out, Gas, Phone bills, tuition, books etc. My HHI is 250k.

my scores last time I checked were EX: 732 TU: 743., EQ: 724. Back in september. Not sure what my AAOA would be. I also have a current balance of 131.78 on my Freedom card that will be paid this weekend. All others are paid off so It's good other then that. I want the SPG and the BCE, do I have a chance either when it comes time to app?

Re: So Can I and should I?

bluesnowman — Wed, 02 Oct 2013 04:31:04 GMT

Myjourney- Do you thinl they will allow another CLI? I asked for one in June and I got it, but I don't want to use another HP. I am planning to PC to the IT card by the end of the year, just been lazy to do it. That's what I was thinking, I promised you I wouldn't app until December, but can I or should I apply for both the SPG and the BCE? I was going to close it regardless, but idk how I should do this. Or should I wait as planned until December/ January?. I'm hoping Chase will give me an auto CLI, as I've spent nearly 2k since I got it back in May. I do fly with SW, I'm going to Las Vegas for a wedding next month, and don't want to drive (already bought my tickets). Additionally, I've spent quite a bit on the SW. I use AA whenever I can justify price and the routing for me. But yes, how should I go about this?

Re: So Can I and should I?

myjourney — Wed, 02 Oct 2013 04:44:45 GMT

@myjourney wrote:
@bluesnowman wrote:
Well as many of you that have read my garden thread, you know that I garden the best I can as well as thinking of cards to apply/strategy to have my credit as it can be. Here is my history:

I have a total of six cards:
1. Bank Of America Cash Rewards (recieved this as my first ever card with a 700 limit. I got a CLI and it was bumped to 1,000.) I opened it on April 25th, 2012.
Ask for CLI
2. Citi Forward student (The main reason I got this was for school and I eat out quite a bit, and also I wanted to be in with a prime lender like Citi.) I opened this on October 27th of last year. And they gave me an initial limit of 1,500 of which I have not asked for a CLI yet.
Not sure
3. Discover More (The reason why I got this card was because I also wanted to try my luck with Discover and thankfully they approved me. I applied the same night that I applied for the Citi Forward.) Got an instant approval with a 1,500 line. Still not have asked for a CLI as I think they are pretty conservative and I'd rather not take a HP for a CLI at this point.
PC to it card for the different catergories
4. Amex Premier Rewards Gold. Got this card because I have always wanted an Amex and as well I wanted to build a relationship with them. I was approved for the card on November 24, 2012. Got approved for it Instantly. NPSL.
You need to make the call on this one Lol
IMHO apply for the other card you want BCE and if approved then close
5. Chase Freedom- Decided not to app until May 1st (waited for six months from my last app.) and apped early that morning and recieved another instant approval with an initial limit of 2,400. Got it obviously for the Cashback and the categories. It is also my main card for everyday spend that I don't use my other cards categories for. Still not have asked for a CLI yet either, but hopefully will be able to qualify for one next month or later on.
See if you get auto luv
6. Chase Southwest Rapid Reward Plus card. I wanted a travel card whether it would have been hotel or airline and I fly with Southwest if I'm not flying with AA at the time. Did not recieve an instant approval, but I logged in the next morning and found out that it was added to my list of Chase cards. They have given me an initial limit of 3.6k. Used for rather large purchases (unusual purchases or airline tickets.)
Do you travell enough for this card?

Inquiries:
EQ: 2 (AT&T when I was getting a new account set up, and when Amex triple pulled me, that led to an HP on EQ.)
EX:6 (Citi, Chase Freedom the first time, did not get it, Amex, Chase again in May, Chase again in June, Citi in June, I wanted the AA card but they denied me saying that they want to see more history from me before approving me.) As you can also see in my sigs is when I apped for the cards and the date the card was opened.
TU: 3. (Discover, Amex triple pull, BOFA CLI)

Income: I'm a student but my income will next year. I will use my current income of 12k when I app since I'll use my new income next year when I app and get CLI's.(and I'll have one year of being there.)

Living situation: I live with my parents at the moment, and don't pay rent. I do pay for any time I go out, Gas, Phone bills, tuition, books etc. My HHI is 250k.

my scores last time I checked were EX: 732 TU: 743., EQ: 724. Back in september. Not sure what my AAOA would be. I also have a current balance of 131.78 on my Freedom card that will be paid this weekend. All others are paid off so It's good other then that. I want the SPG and the BCE, do I have a chance either when it comes time to app?

The outline I gave above will only require 3 HP's ..........BofA CLI.........Amex BCE and SPG if you can use it and make it work for you (3)

PC's are not HP's

NO moves before Dec like you planned

Re: So Can I and should I?

Anonymous — Wed, 02 Oct 2013 04:57:42 GMT

correct me if im wrong but, wouldnt it be best if you are going to apply in december then just wait until january for amex since you already have PRG you will get the maximum possible for backdating purpose.

Re: So Can I and should I?

bluesnowman — Wed, 02 Oct 2013 04:59:08 GMT

So when should I ask for another CLI+close my PRG. The only reason I was afraid is because I am not sure if Amex will approve me again and if they do, will they approve for both cards. What I'm trying to ask, in what order is the best way to do this without my credit being impacted too much?

Re: So Can I and should I?

myjourney — Wed, 02 Oct 2013 05:02:53 GMT

@Anonymous wrote:
correct me if im wrong but, wouldnt it be best if you are going to apply in december then just wait until january for amex since you already have PRG you will get the maximum possible for backdating purpose.

Correct about backdating but AF is due in Dec I think and OP wants to close

OP correct me if I'm wrong in the PRG AF date

Re: So Can I and should I?

myjourney — Wed, 02 Oct 2013 05:11:14 GMT

@bluesnowman wrote:
So when should I ask for another CLI+close my PRG. The only reason I was afraid is because I am not sure if Amex will approve me again and if they do, will they approve for both cards. What I'm trying to ask, in what order is the best way to do this without my credit being impacted too much?

PC to Discover it now

PRG no comment sorry

Nov-Dec app BCE

2014 SPG BofA CLI

If it were me I would eat the PRG AF and wait for 2014

for backdating to help your AAoA

App BCE if approved app SPG

BofA CLI

Re: So Can I and should I?

Dubious — Wed, 02 Oct 2013 12:31:14 GMT

Although the More still has 5% for rotating categories, you should still PC to the It for 1% everywhere. The PC is quick and painless, you can even do it through online chat.

Your Member date with Amex will still be 2012, even if you closed your Gold card right now. So if it makes more financial sense for you to not eat the annual fee and close now, you should. You can apply for whatever Amex product later and ask them to change the date to 2012.

The con to the above is that you wouldn't get a SP for a denial, and you would if you were a current member. But if approved you get a hard pull either way, so there's that. And I dont see why they wouldnt approve.

Re: So Can I and should I?

takeshi74 — Wed, 02 Oct 2013 14:46:58 GMT

@bluesnowman wrote:
What I'm trying to ask, in what order is the best way to do this without my credit being impacted too much?

I don't see the order mattering much. You're going to get hit with the same number of HP's and the same AAoA reduction no matter what order you do these things. I'd suggest ordering by priority for you.

The only cases where order might help is the CLI's as they can help with reducing utilization but you'll need to ensure that they report before you take the next steps.

@bluesnowman wrote:
Bump.

Give any discussion forum site at least a day for replies before you bump. Some don't even allow bumping.

Re: So Can I and should I?

bluesnowman — Wed, 02 Oct 2013 15:04:06 GMT

BMW- That's what I'm thinking too, but I'm going to close a little earlier, I just wanted another Amex since this is going to be closed either now or next month.

Myjourney- I was approved for my Amex in November of last year. So that would make the annual fee due in Nov? Also, I don't want to pay the AF since I didn't use it as much as I thought I could. I got it mainly to build a history with Amex, but I'd rather pay the AF if I didn't really benefit from it either. So your saying Close in November, App for the BCE in DEC, and in Jan app for the SPG if approved? the only thing I'm wondering is if they will approve me..

Dubious- Yeah I'm going to do it this weekend, I think it seems like a better card anyway. Or maybe I'll wait until my statement cuts. I have a feeling the time when I apped for my Amex, that it was a borderline approval since they pulled all three. In addition I apped for the BCE for 3 straight months (Apr-Jun) all three times were a denial. The listed the reasons having to do with inquiries on EX, and AAOA. So that is why I was waiting until Dec to be app free for that long before apping once again.

Takeshi- I want the BCE as that is the I've had my eyes on for a while. I'd also like the SPG since I stay in Sheraton's if I'm not staying in Marriott/Holiday Inn (but then again, that card could be just the icing on the cake, I'd like both, but happy with either.) Only reason I bumped was because I saw anyone else who created a topic at the same time get responses, didn't want mine not to be seen...lol.

Re: So Can I and should I?

Dubious — Wed, 02 Oct 2013 16:42:18 GMT

Re Discover: The conversion will be effective at the beginning of your next cycle regardless of when you ask for it. It really makes no sense to wait for your statement to cut because then the conversion would be effective a whole month after that, after your NEXT statement cuts. If you ask now, then it will be effective the day after this statement cuts.

Re Amex: If you are approved this Dec they will set the open date as Dec 2012 while if you wait until Jan you will get Jan 2012. That gives you an extra 11 months. My advice is to wait until Jan to apply for either BCE or SPG. Unless you have a specific reason for jumping the gun?

Re: So Can I and should I?

Anonymous — Wed, 02 Oct 2013 17:00:33 GMT

I agree. Wait till Jan to app for AMEX to max out backdating. Go for revolver of your choice from AMEX. You are in with AMEX and the generous AMEX CLI policies will help grow your limits quickly so get that revolver then. Don't close that AMEX Charge card before then even if you have to eat another AF. Once you get revolver, you can cancel charge card if you don't want and get prorated AF refund.

Re: So Can I and should I?

bluesnowman — Wed, 02 Oct 2013 21:08:34 GMT

Dubious- ok, I'll pc it as soon as I get home. I dont have any specific reason, I just do my apps once every six months so that was really the only reason. Whatever helps my credit be better, I'm willing to do.

Crashes- what are my chances of being approved based on what I posted? I really want the Bce but the SPG would be good for me as well. I love the prg but as I didn't use it enough, I don't want to pay the annual fee, which is why I was going to go for a revolver sooner rather then later. I don't mind paying annual fees, but I didn't use it enough to justify, also I wanted in with Amex which is why I got it in the first place. Don't really want to pay a fee on a card that I didn't use much tbh.