topic Re: App Spree Strategy suggestions please! What would you do! in Credit Cards

App Spree Strategy suggestions please! What would you do!

Best2014 — Wed, 29 Jan 2014 05:08:27 GMT

Hello guys.

My main goal is to get "at least" 1 card that has high credit limit to do a balance transfer and have left over for purchases.

But if I have a good strategy I might be able to apply for at least 2 cards that report to different bureaus and maybe get 2 approved for good limits.

So I need to enlist your help in choosing which cards to apply to maximize chances of getting the most credit limit.

Maybe I should focus on the easiest card to get for my Credit score that would yield the highest limit or easier to reconsider later.

I have received offers from Chase Slate and Freedom 15months 0APR pur/bal, but 22.99% APR thereafter (which indicates maybe not best credit in their eyes?)

Also, I have an offer from citicards the preferred Diamond. 12 months 0% APR then 19.99%APR thereafter.

Those are the only invitations I have from major companies, and I have checked online too.

From what I've read, Slate and Diamond hit Experian in TN, but that is annecdotal and from old source apparently.

My credit score FICO with EQ is 661

I have a well fargo Credit card with a 5k limit and used only 30% of available credit.

I have 7k in student loans that I pay 100 a month and also 6k in deferred sudent loans with no payments yet until 2019

I have one charged off medical bill for $290

and a credit card with BOA that was settled for less than owed back in 2011.

Last inquiry was July of 2013 to open the wells fargo credit card.

Make 40k a yr.

(sorry don't have the other ficos, but credit karma is 661 as well)

Please help me plan this, i know you guys are well versed in strategy

Thanks all!

Re: App Spree Strategy suggestions please! What would you do!

Creditaddict — Wed, 29 Jan 2014 06:05:10 GMT

I'd try these 2 offers

Re: App Spree Strategy suggestions please! What would you do!

B335is — Wed, 29 Jan 2014 08:39:02 GMT

I'm not sure Freedom or Slate will give you the high limit you're looking for. I think you'd get better results from a Credit Union, Chase isn't known to give people their highest limits.

Re: App Spree Strategy suggestions please! What would you do!

maksimfa — Wed, 29 Jan 2014 09:18:54 GMT

I would say Amex and or a Chase Visa Signature of your choice. Typically start at 5k limit and go up.

Amex, you can do 3x CLI hopefully at 61 days, so that is also a strategy.

Re: App Spree Strategy suggestions please! What would you do!

takeshi74 — Wed, 29 Jan 2014 13:37:09 GMT

As always, limits aren't just about the cards. If you want to improve your odds for high limits then you need to focus in improving your credit. If Chase's offers include a 22.9% APR then they probably don't think that your credit is all that great. Don't just respond to offers. Apply for the cards you need and at a time where you've set yourself up to look as good as possible. Getting your utilization optimized is one thing that may help. 30% is the recommended max but ideal is going to be much lower -- probably ~10% or less. Definitely address the derog.

@Best2014 wrote:

From what I've read, Slate and Diamond hit Experian in TN, but that is annecdotal and from old source apparently.

All such info is anecdotal and creditor can pull all three if one's credit is borderline.

Re: App Spree Strategy suggestions please! What would you do!

Best2014 — Wed, 29 Jan 2014 17:57:32 GMT

@takeshi74 wrote:
As always, limits aren't just about the cards. If you want to improve your odds for high limits then you need to focus in improving your credit. If Chase's offers include a 22.9% APR then they probably don't think that your credit is all that great. Don't just respond to offers. Apply for the cards you need and at a time where you've set yourself up to look as good as possible. Getting your utilization optimized is one thing that may help. 30% is the recommended max but ideal is going to be much lower -- probably ~10% or less. Definitely address the derog.
All such info is anecdotal and creditor can pull all three if one's credit is borderline.

I hear you. I figured if they were offering me 19% or 22% is because they approve me but they still think Im not EXCELLENT credit, which I am not claiming to be at 661 fico either.

So, If I disregard the offers and apply to one that doesn't have an offer for me, which one would you apply to try to get the most credit limit? and will you do 2 consecutives?

From your suggestions, Amex does CLI reviews fast, but which amex will approve me based on my 661 fico and other info I gave you above on the first post?

Or I should just stick to the offers I got and apply for both Slate and Diamond on the same day?

Thanks, I feel like I have no strategy so far

Re: App Spree Strategy suggestions please! What would you do!

Creditaddict — Wed, 29 Jan 2014 19:07:24 GMT

I'd apply for the 2 per approvals now

Re: App Spree Strategy suggestions please! What would you do!

SunriseEarth — Wed, 29 Jan 2014 20:45:51 GMT

@Best2014 wrote:
Hello guys.

My main goal is to get "at least" 1 card that has high credit limit to do a balance transfer and have left over for purchases.
But if I have a good strategy I might be able to apply for at least 2 cards that report to different bureaus and maybe get 2 approved for good limits.
So I need to enlist your help in choosing which cards to apply to maximize chances of getting the most credit limit.

Maybe I should focus on the easiest card to get for my Credit score that would yield the highest limit or easier to reconsider later.

I have received offers from Chase Slate and Freedom 15months 0APR pur/bal, but 22.99% APR thereafter (which indicates maybe not best credit in their eyes?)
Also, I have an offer from citicards the preferred Diamond. 12 months 0% APR then 19.99%APR thereafter.

Those are the only invitations I have from major companies, and I have checked online too.
From what I've read, Slate and Diamond hit Experian in TN, but that is annecdotal and from old source apparently.

My credit score FICO with EQ is 661
I have a well fargo Credit card with a 5k limit and used only 30% of available credit.
I have 7k in student loans that I pay 100 a month and also 6k in deferred sudent loans with no payments yet until 2019
I have one charged off medical bill for $290
and a credit card with BOA that was settled for less than owed back in 2011.
Last inquiry was July of 2013 to open the wells fargo credit card.
Make 40k a yr.

(sorry don't have the other ficos, but credit karma is 661 as well)

Please help me plan this, i know you guys are well versed in strategy

Thanks all!

Do you need the credit quickly? If you can wait until July, your scores would improve and you'd be able to get better terms. Your WF account won't be "new" anymore and the effects of the HP will be gone. My recommendation would be to wait for July, and while doing that, push UTIL down on the WF Card, do PFD on the medical bill, send GW letters for BOA, and then go for it.

If you have to go for something right away, between the two lenders, I'd say go Chase.

Re: App Spree Strategy suggestions please! What would you do!

SunriseEarth — Wed, 29 Jan 2014 20:48:33 GMT

@takeshi74 wrote:
As always, limits aren't just about the cards. If you want to improve your odds for high limits then you need to focus in improving your credit. If Chase's offers include a 22.9% APR then they probably don't think that your credit is all that great. Don't just respond to offers. Apply for the cards you need and at a time where you've set yourself up to look as good as possible. Getting your utilization optimized is one thing that may help. 30% is the recommended max but ideal is going to be much lower -- probably ~10% or less. Definitely address the derog.

@Best2014 wrote:

From what I've read, Slate and Diamond hit Experian in TN, but that is annecdotal and from old source apparently.

All such info is anecdotal and creditor can pull all three if one's credit is borderline.

+1. With some fine tuning, OP could get better APR and CLs

Re: App Spree Strategy suggestions please! What would you do!

Best2014 — Thu, 30 Jan 2014 00:03:55 GMT

@SunriseEarth wrote:
If you have to go for something right away, between the two lenders, I'd say go Chase.

I need the credit quickly because I am planning some purchases and my utilization will go up starting next month.

So between the Citi Diamond and Chase, you'd think is easier to get Chase to give me a higher CL ? Is it an easier card than citi preferred?

Re: App Spree Strategy suggestions please! What would you do!

Creditaddict — Thu, 30 Jan 2014 00:09:35 GMT

Apply for both, chase you might be able to recon for higher, citi will probably be what it will be to start

Re: App Spree Strategy suggestions please! What would you do!

Anonymous — Thu, 30 Jan 2014 00:24:20 GMT

Is Chase a good use of an HP with recent negative information?

Re: App Spree Strategy suggestions please! What would you do!

Creditaddict — Thu, 30 Jan 2014 00:31:17 GMT

If you go to chase..com and run the pre-qual on it and get an offer still today I would apply!

same with Citi

Re: App Spree Strategy suggestions please! What would you do!

SunriseEarth — Thu, 30 Jan 2014 00:37:05 GMT

@Best2014 wrote:
@SunriseEarth wrote:
If you have to go for something right away, between the two lenders, I'd say go Chase.
I need the credit quickly because I am planning some purchases and my utilization will go up starting next month.
So between the Citi Diamond and Chase, you'd think is easier to get Chase to give me a higher CL ? Is it an easier card than citi preferred?

I'm thinking it'd be easy to combine CLs with Chase if you had multiple cards and needed to do that.

Re: App Spree Strategy suggestions please! What would you do!

Best2014 — Thu, 30 Jan 2014 04:51:35 GMT

Ok..

I will just reply to Slate Chase and Citi, unless it is a better strategy to apply for Slate and Freedom at the same time different web browsers since they will pull from same credit bureau more likely experian?

now also, the question is should I put the balance transfer immediately on the application or wait until I get it?

I wonder they might consider giving you a higher CL when you initially pay off another card since you are freeing up some debt or if it makes NO difference.

Re: App Spree Strategy suggestions please! What would you do!

Creditaddict — Thu, 30 Jan 2014 04:56:28 GMT

1. you have a slate offer... where did this talk of freedom come in?

2. PLEASE go online and run the "Pre-Qual" that each of these banks have online... if you get offers, I feel they are more valid then what you get in the mail.

3. just apply, do BT AFTER you have been approved and know the limit.

Re: App Spree Strategy suggestions please! What would you do!

Best2014 — Thu, 30 Jan 2014 05:38:42 GMT

@Creditaddict wrote:
1. you have a slate offer... where did this talk of freedom come in?
2. PLEASE go online and run the "Pre-Qual" that each of these banks have online... if you get offers, I feel they are more valid then what you get in the mail.
3. just apply, do BT AFTER you have been approved and know the limit.

yes, I got a Freedom offer as well. And they are the same on their website. But I keep trying to get someone to come up with something better than "apply for what you got"

I thought people here were into things like 2 browser applications, apply on cards with recon better chances, etc..

I could have easily just applied for all 3 offers I have received, but I am trying to maximize cards CL vs inquiries.

Anyone with the patience to read my first post and attempt to come up with a little more sophistication for a strategy? I will really appreciate it.. thanks!

Re: App Spree Strategy suggestions please! What would you do!

Creditaddict — Thu, 30 Jan 2014 07:46:16 GMT

@Best2014 wrote:
@Creditaddict wrote:
1. you have a slate offer... where did this talk of freedom come in?
2. PLEASE go online and run the "Pre-Qual" that each of these banks have online... if you get offers, I feel they are more valid then what you get in the mail.
3. just apply, do BT AFTER you have been approved and know the limit.

yes, I got a Freedom offer as well. And they are the same on their website. But I keep trying to get someone to come up with something better than "apply for what you got"
I thought people here were into things like 2 browser applications, apply on cards with recon better chances, etc..
I could have easily just applied for all 3 offers I have received, but I am trying to maximize cards CL vs inquiries.

Anyone with the patience to read my first post and attempt to come up with a little more sophistication for a strategy? I will really appreciate it.. thanks!

I'm not familiar with 2 browsers somehow equals 1 pull.

you need bt more, so apply slate first, then go back and apply for freedom... Believe someone else borderline approval recently tried this and got the slate approved and declined freedom on recon too but alwYs worth a shot

Re: App Spree Strategy suggestions please! What would you do!

GFer — Thu, 30 Jan 2014 08:10:33 GMT

@maksimfa wrote:
I would say Amex and or a Chase Visa Signature of your choice. Typically start at 5k limit and go up.

Amex, you can do 3x CLI hopefully at 61 days, so that is also a strategy.

I would check my FICO score FIRST... I think Amex would serve you better with the 3x CLI if you qualify. Check whogavemecredit.com based on scores and situation. Needless inquiries won't help you. Be informed before apping! Citi has been more generous of late....

Re: App Spree Strategy suggestions please! What would you do!

Swapmeet — Thu, 30 Jan 2014 08:15:56 GMT

@Best2014 wrote:
@Creditaddict wrote:
1. you have a slate offer... where did this talk of freedom come in?
2. PLEASE go online and run the "Pre-Qual" that each of these banks have online... if you get offers, I feel they are more valid then what you get in the mail.
3. just apply, do BT AFTER you have been approved and know the limit.

yes, I got a Freedom offer as well. And they are the same on their website. But I keep trying to get someone to come up with something better than "apply for what you got"
I thought people here were into things like 2 browser applications, apply on cards with recon better chances, etc..
I could have easily just applied for all 3 offers I have received, but I am trying to maximize cards CL vs inquiries.

Anyone with the patience to read my first post and attempt to come up with a little more sophistication for a strategy? I will really appreciate it.. thanks!

Most of these posters read your whole post. You are trying to trick or cheat the system, and that rarely can work--if you're assuming that with two browsers, you can hit apply at the same time on both and the second one won't see the inq. You are in the wrong place if you think people are going to try and help you cheat the system. People are giving you solid advice. You are most likely going to get approved for cards you are pre qualified for--maximizing your cards vs inquiries, like you want. Then you turn your nose up at the obvious answer and ask for people to help you cheat....Classy.