topic Re: What should I spree for? Super detailed post. in Credit Cards

What should I spree for? Super detailed post.

Anonymous — Thu, 13 Feb 2014 01:58:03 GMT

Credit Scores:
EQ: 700, EX: 716, TU: 722

Annual Income: $108,000
Inquiries: 1 on each report
AAoA: 8 years
Oldest open account: 10 years, 9 months
Open cards:
1st Financial Bank: $1800 CL, 1% uti
Home Depot: $500 CL, $0 balance
Car loans: (Joint with husband)
1st: $7000/$27,000
2nd: $2000/$9,000
Student loan: $4500/$5000

Baddies:
(1) 30 day late on a closed BOA card in June 2007.
(1) 60 day late on closed BOA card in July 2007 - TU/EX are reporting these as 90day lates, as late as Oct 2007.
(5) 30 day late payments on the car loans (2 on one car, 3 on the other), latest one being Aug 2011.

2 paid collection from Feb 2010 on EQ

1 paid collection from Feb 2010 on EX

0 collections on TU

I am interested in these cards but am not sure if I will get approved. I need some insight and a push to app!

Sallie Mae: Really want this card, I don't spend a lot on gas and would love to use it for Amazon purchases every month.

Barclay's Arrival: This would be a great everyday card and I think it would benefit me over CSP. My family of 6 takes domestic coach flights at least once a year and it would be great to choose what airline and travel site we could use the points on.

AMEX BCP: My DREAM card!!! I would use this for all the groceries we buy every month and would love to be apart of the AMEX family. Our spending could definitely justify the AF.

____________________________________

I have been banking with Chase for 12 years at least, so I am interested in the Chase Trifecta with the Freedom and CSP although I think the Barclay's Sallie Mae/Arrival would better suit my needs. Would the CSP fit me better than the Arrival? If so, I have no need for the Freedom really but if it would help me get the CSP I would get it.

Should I let those new credit lines (NFCU $25k cashrewards, and hopefully the full $15k Navcheck) post and wait until my 60-90 day baddie falls off (and hopefully GW my 30day lates and 2 collections) in July to apply for the Sallie Mae/Arrival/BCP? Or will they not like that I just got new credit with NFCU so I should apply now (even though I only have one main credit card with an $1800 limit)?

I am hoping to obtain these cards by the end of the year, as they really are the only cards I want and I will then need to garden for 2years+ so we can buy a house.

Any advice is appreciated, just looking for a good strategy for apping. I have the app itch but I can be patient. I am going for higher limits (although I know I have to start somewhere) and I don't want to waste inquiries =(

Re: What should I spree for? Super detailed post.

baller4life — Thu, 13 Feb 2014 02:10:26 GMT

Sallie Mae: I think you will be instantly approved. Arrival is their top tier. Dont know how they would view lates.

Amec BCP: Check Amex prequal site. Not sure how they would feel about collections and lates.

Chase: Check prequal site. See what offers come up. Think you will get Freedome for sure.

Re: What should I spree for? Super detailed post.

Revelate — Thu, 13 Feb 2014 02:11:07 GMT

Have you had your current cards for a year or better?

If so just apply for the BCP right now. Good income, good report for a mixed file (better than mine was when I was approved by a large margin) and you're above the anecdotal FICO requirement by a non-trivial amount.

I'd also hit Sallie Mae before the new accounts post, Barclay's can be picky and I don't think they'll help, rather they'd likely hinder.

Re: CSP, I'm thinking you may need to two step it honestly and get the Freedom now, show some history on that, then apply for the CSP. Chase does care about relationships more and more. If it were me, and I didn't need a travel card right away, I'd do BCP / Sallie / Freedom now, then wait till sometime next year and pick up the travel card you want. CSP vs. Arrival I'm not qualified to suggest on, other than to say I somewhat doubt you'd get the CSP right now unless you have an extensive relationship with Chase currently.

Re: What should I spree for? Super detailed post.

gdale6 — Thu, 13 Feb 2014 02:13:01 GMT

@Anonymous wrote:
Credit Scores:
EQ: 700, EX: 716, TU: 722

Annual Income: $108,000
Inquiries: 1 on each report
AAoA: 8 years
Oldest open account: 10 years, 9 months
Open cards:
1st Financial Bank: $1800 CL, 1% uti CLI
Home Depot: $500 CL, $0 balance CLI
Car loans: (Joint with husband)
1st: $7000/$27,000
2nd: $2000/$9,000
Student loan: $4500/$5000

Baddies:
(1) 30 day late on a closed BOA card in June 2007. GW to remove late, it will go anyway in june this yr
(1) 60 day late on closed BOA card in July 2007 - TU/EX are reporting these as 90day lates, as late as Oct 2007. GW as well
(5) 30 day late payments on the car loans (2 on one car, 3 on the other), latest one being Aug 2011.

2 paid collection from Feb 2010 on EQ GW to see if will drop
1 paid collection from Feb 2010 on EX GW to see if will drop
0 collections on TU

I am interested in these cards but am not sure if I will get approved. I need some insight and a push to app!

Sallie Mae: Really want this card, I don't spend a lot on gas and would love to use it for Amazon purchases every month. Prob ok for this one

Barclay's Arrival: This would be a great everyday card and I think it would benefit me over CSP. My family of 6 takes domestic coach flights at least once a year and it would be great to choose what airline and travel site we could use the points on.

AMEX BCP: My DREAM card!!! I would use this for all the groceries we buy every month and would love to be apart of the AMEX family. Our spending could definitely justify the AF. Would wait to try get more negs taken care of

____________________________________

I have been banking with Chase for 12 years at least, so I am interested in the Chase Trifecta with the Freedom and CSP although I think the Barclay's Sallie Mae/Arrival would better suit my needs. Would the CSP fit me better than the Arrival? If so, I have no need for the Freedom really but if it would help me get the CSP I would get it.

Should I let those new credit lines (NFCU $25k cashrewards, and hopefully the full $15k Navcheck) post and wait until my 60-90 day baddie falls off (and hopefully GW my 30day lates and 2 collections) in July to apply for the Sallie Mae/Arrival/BCP? Or will they not like that I just got new credit with NFCU so I should apply now (even though I only have one main credit card with an $1800 limit)? NFCU is likely to approve you I would do it now

I am hoping to obtain these cards by the end of the year, as they really are the only cards I want and I will then need to garden for 2years+ so we can buy a house.

Any advice is appreciated, just looking for a good strategy for apping. I have the app itch but I can be patient. I am going for higher limits (although I know I have to start somewhere) and I don't want to waste inquiries =(

Good luck to you

Re: What should I spree for? Super detailed post.

Anonymous — Thu, 13 Feb 2014 02:43:08 GMT

My oldest card (a Mastercard) is my oldest account at 10 years 9 months. I just applied for Sallie Mae and got the 10 day further review message =( Does that mean I need to recon? Chase has preapproved me for the Freedom, so I am interested in trying that next, but maybe I should do BCP (if I am going to) first. Ehh...nervous!!! I think I should wait for that one...

Re: What should I spree for? Super detailed post.

baller4life — Thu, 13 Feb 2014 02:45:02 GMT

I say take Freedom to start a credit card relationship with Chase. Call Barclay to recon Sallie Mae. Try Amex prequalify site.

Re: What should I spree for? Super detailed post.

Revelate — Thu, 13 Feb 2014 02:54:57 GMT

@baller4life wrote:
I say take Freedom to start a credit card relationship with Chase. Call Barclay to recon Sallie Mae. Try Amex prequalify site.

Pre-qualify for Amex is pretty lackluster in my opinion; if you can get a Freedom pre-qual, BCP is pretty much a given I think especially with OP's income. Chase's UW standards on pre-qual are way above their minimums anecdotally.

If taking the shot at Sallie and Freedom, should do the Amex regardless for the usual statistical FICO goodness reasons. Get those inquiries aging ASAP when either establishing new credit, or establishing first round of keeper cards. Maybe even second round of keepers come to think of it too, doesn't make nearly as much sense after that as one should already have most reward categories covered by that point.

Re: What should I spree for? Super detailed post.

Anonymous — Thu, 13 Feb 2014 03:05:04 GMT

WOW I am a true idiot. I decided to go ahead and apply for BCP and I applied for BCE instead!!!! Why i did this when my twins were screaming in my ear and I'm really anxious I don't know. I got approved, can I PC to Preferred tomorrow?

Re: What should I spree for? Super detailed post.

Brax — Thu, 13 Feb 2014 03:07:56 GMT

I strongly suggest prioritizing an Amex card first and foremost. You may have to start with a charge card or co-branded revolver before getting a BCP.

Since you've been banking with Chase for 12 years, you will very likely get any card with them at any time, so that can wait.

Re: What should I spree for? Super detailed post.

Anonymous — Thu, 13 Feb 2014 03:09:52 GMT

@Anonymous wrote:
WOW I am a true idiot. I decided to go ahead and apply for BCP and I applied for BCE instead!!!! Why i did this when my twins were screaming in my ear and I'm really anxious I don't know. I got approved, can I PC to Preferred tomorrow?

Hmmmm, not sure about that. I don't believe AmEx will let you PC from a no-AF card to card w/an AF until the 13th month.

I suggest calling the New Accounts Dept. asap (even now, if they're still open) to explain the error & see if they can help you with that before too long....

Good luck....and congrats anyway on your approval!!!

Re: What should I spree for? Super detailed post.

Anonymous — Thu, 13 Feb 2014 03:10:23 GMT

I think if you app for the bcp too it will only count as one inquiry, I think I read that some where here can someone confirm though.

Re: What should I spree for? Super detailed post.

gdale6 — Thu, 13 Feb 2014 03:19:21 GMT

@Anonymous wrote:
WOW I am a true idiot. I decided to go ahead and apply for BCP and I applied for BCE instead!!!! Why i did this when my twins were screaming in my ear and I'm really anxious I don't know. I got approved, can I PC to Preferred tomorrow?

Congrats

Re: What should I spree for? Super detailed post.

ak_7vytr0 — Thu, 13 Feb 2014 03:20:08 GMT

@Anonymous wrote:
I think if you app for the bcp too it will only count as one inquiry, I think I read that some where here can someone confirm though.

+1 to that.. they use the same pull

Re: What should I spree for? Super detailed post.

Anonymous — Thu, 13 Feb 2014 03:25:25 GMT

This is going to be some of the weirdest advice you ever get here but call BOA executive customer service and ask for deletions of the old lates. BOA's system tends to purge closed accounts at 5.5 years. If the trend holds true, those negative accounts can be deleted now because they won't have a way to verify them. They do a limited soft pull and will delete immediately if the accounts don't show up.

Be warned and use a lot of patience: The lady from FIA/BOA executive is not known for personality. Make sure to request they're removed from all 4 agencies so Innovis doesn't get neglected.

BOA is pretty much the White Whale of credit repair. If those accounts have been closed more than 5.5 years you have a chance.

Re: What should I spree for? Super detailed post.

Anonymous — Thu, 13 Feb 2014 03:26:15 GMT

Caling and on hold now for 16 minutes..anyone know of a better phone number to call? if I apply for the BCP then I will have two cards? How would that work?

Re: What should I spree for? Super detailed post.

Anonymous — Thu, 13 Feb 2014 03:43:51 GMT

Okay they are going to try and PC it but I have to wait until the day after tomorrow since I applied so late. I went ahead and applied for BCP but it said I needed to call in and then they explained its a duplicate application (so not extra HP). I guess all I have to do is wait, but woohoo! I am part of the AMEX family! thank you for the push everyone!

Re: What should I spree for? Super detailed post.

Anonymous — Thu, 13 Feb 2014 03:51:36 GMT

Congrats! Hoping for a seamless transition to the BCP....unless of course you can have or want both the BCP & BCE, lol!

Welcome to the AmEx family, too!!

Re: What should I spree for? Super detailed post.

Anonymous — Thu, 13 Feb 2014 17:16:42 GMT

Woke up to an email from Sallie Mae saying I've been approved! So glad I didn't have to call in $4500 limit! Not a world but ill take it!

Re: What should I spree for? Super detailed post.

Anonymous — Thu, 13 Feb 2014 17:21:30 GMT

What did BoA/FIA say about the old accounts?

Re: What should I spree for? Super detailed post.

newmomnewme — Thu, 13 Feb 2014 17:27:29 GMT

@Anonymous wrote:
Woke up to an email from Sallie Mae saying I've been approved! So glad I didn't have to call in $4500 limit! Not a world but ill take it!

Congrats Mama!!! You are on a roll! Let us know if they let you PC to BCP, I was approved for BCE 5k a few weeks ago and I was kind of wishing I had applied for BCP instead. I could definately use the 6% CB on groceries vs. 3%!!! Anyway, congrats on all of your recent approvals. Now head on over to the garden after you pick up a store card of your choice....LOL