AMEX/Chase application plans... approval odds?

[Anonymous]

Hi all,

I was recently approved for the Chase FU with a limit that surprised me. This doesn't change my down stream plans - the cards I want in my pocket, eventually, include AMEX Gold, Hilton Aspire and CSP. With my thin file (~700 scores, AAoA 4 mo, 3 cards oldest account 10 mo, always PIF multiple times a month), I'm not expecting to get them soon, but I would like some advice on whether my plans sound reasonable (and approval odds).

I plan to apply for AMEX Gold maybe 2 months from now. My credit scores used to be in the 720s but took a hit as I have 2 recent accounts (BOA 2 mo, CFU just opened) and HP. How difficult is it to get approved for the AMEX gold, given thin but clean file (with recent accounts that I can explain)? 

I also heard that AMEX does a single HP for charge/ credit card applications on the same day. Should I try my luck with Surpass or Aspire? I feel like having so many recent accounts isn't a great idea...

On the other hand, I plan to wait for a bit before I do the CSP. If I get two more cards from Amex I'd be over 5/24 which means I'll have to wait a year, but if not I'm expecting a CSP offer to show up some time between 6 mo - 1 y which is when I'll apply. My question is, if I get rejected from CSP, can I recon by telling them to move over some credit from CFU? I have a 7.2k SL on CFU and would honestly be happy to move 5k if that means I get a CSP. Is Chase friendly with that?

Any advice is appreciated!

[AllZero]

Chase is not friendly to credit seeking behavior. If you wish to retain your card and not be a statistic, best to wait minimum 6 months before applying for the AmEx gold or CSP. Chase is known for adverse action. You can read horror stories on here.

In the meantime, you can always periodically check the AmEx prequal site to see if you have any offers to see where you stand with them.

Perhaps, restructure your card goals to fit in the 5/24.

[randomguy1]

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@AllZero wrote:
Chase is not friendly to credit seeking behavior. If you wish to retain your card and not be a statistic, best to wait minimum 6 months before applying for the AmEx gold or CSP. Chase is known for adverse action. You can read horror stories on here.

In the meantime, you can always periodically check the AmEx prequal site to see if you have any offers to see where you stand with them.

Perhaps, restructure your card goals to fit in the 5/24.

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I think Chase and AA is a bit overblown. Chase is not going to close someone for getting one additional card. It's for extreme churners with thick files or very thin files opening multiple credit cards. I have not read one story where someone gets shut down for opening one more CC. OP wants to open another card in a couple months, no big deal IMO.

[CreditInspired]

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@Anonymous wrote:

Hi all,

I was recently approved for the Chase FU with a limit that surprised me. This doesn't change my down stream plans - the cards I want in my pocket, eventually, include AMEX Gold, Hilton Aspire and CSP. With my thin file (~700 scores, AAoA 4 mo, 3 cards oldest account 10 mo, always PIF multiple times a month), I'm not expecting to get them soon, but I would like some advice on whether my plans sound reasonable (and approval odds).

I plan to apply for AMEX Gold maybe 2 months from now. My credit scores used to be in the 720s but took a hit as I have 2 recent accounts (BOA 2 mo, CFU just opened) and HP. How difficult is it to get approved for the AMEX gold, given thin but clean file (with recent accounts that I can explain)? 

I also heard that AMEX does a single HP for charge/ credit card applications on the same day. Should I try my luck with Surpass or Aspire? I feel like having so many recent accounts isn't a great idea...

On the other hand, I plan to wait for a bit before I do the CSP. If I get two more cards from Amex I'd be over 5/24 which means I'll have to wait a year, but if not I'm expecting a CSP offer to show up some time between 6 mo - 1 y which is when I'll apply. My question is, if I get rejected from CSP, can I recon by telling them to move over some credit from CFU? I have a 7.2k SL on CFU and would honestly be happy to move 5k if that means I get a CSP. Is Chase friendly with that?

Any advice is appreciated!

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It should change your down stream plans. Let your CFU age. Show Chase that you can put spend on the card and be responsible with it.

IMHO, I suggest stop applying for credit until your CFU is 12 mos. 

[Anonymous]

Thanks all for the suggestions! I should perhaps do a bit of clarification. I am by no means trying to seek credit/ SUB - although I do see how applying for 3 cards (2 approved, 1 thinking about) would seem that way. In short, I travel internationally quite frequently, and spend quite some on dining out, and would like travel/dining reward cards. 

I initially applied for discover to build credit (plus they give great dining rewards). The BoA travel rewards card was because I needed a Visa/Mastercard no FTF card (as many places I go to don't take Disco/AMEX). The CFU was because I like Chase as a bank, and also like their UR system (sapphires), and want to start building a relationship with them. The issue with my current card set (Disco, BoA travel, CFU) is that I have only BoA travel that I can use internationally and it only gives 1.5% cash back. I would love to get more rewards on airfare and/ or hotels and/or dining, which is why I'm considering AMEX gold/AMEX HH. Essentially, I have a reason for thinking about every card that I'm applying to - but I agree that gardening for a while is probably a good idea. 

[CreditInspired]

Understand that all of us here want cards for different reasons.

Understand that the majority of us started out cocked wild and just started applying for CCs for no rhyme or reason but just to get cards.

Understand that once we got an easy approval we thought all of them would be that way.

Understand that we all thought getting cards would help our credit.

Understand that until myFICO, we didn't know the correct way or incorrect way to apply for credit; but now we have DPs from a knowledgeable and awesome forum.

With this knowledge, we’ve learned to research cards before applying to make sure they match our needs; apply for one card every 6+ months; check if we’re prequalified for cards before jumping in; be cognizant of anything that can possibly cause AA; and most importantly—to garden. Why? Because building a great credit profile is a marathon, not a sprint.

[kudosalert]

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My profile is similar to yours. I would say to just get the Amex Gold and not the Hilton cards until after you've gotten your CSP/CSR. The Gold card will give you a decent sub and a way to earn MR points on dining/travel/groceries (I would consider it a daily driver). I got the Surpass because of the 10 Priority Passes per year. The sub for the Surpass was nice but beyond that I dont really see value in Hilton properties. It's hard for me to get the most value out of redeeming Hilton points for properties where I travel. The 1st year is great for the 99$ annual fee (10 lounge passes and enough points to redeem for at least 4 nights) but I'll probaly downgrade it to the no AF Hilton card after 12 months.

So basically for you: GOLD -> CSR (should let your FU and Gold age a bit more to get your credit limits up above 10k) - I basically see the CSR as being more useful if you travel a lot. Only reason for me to get the CSP is to get the sub and then upgrade to CSR when the time is right.

Hilton cards...well just get them later down the line after your CSR if you can redeem those points at decent value.

[randomguy1]

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@kudosalert wrote:So basically for you: GOLD -> CSR (should let your FU and Gold age a bit more to get your credit limits up above 10k) - I basically see the CSR as being more useful if you travel a lot. Only reason for me to get the CSP is to get the sub and then upgrade to CSR when the time is right.

Would the CSP still be a better choice given the CSR has a 300 travel credit, global entry\TSA credit (if not already paid for), priority pass, better portal redemption value (1.25 vs 1.5), and other travel insurance perks vs 10,000 points (~$100 value) despite the higher AF? I'm faced with the same dilemna even with the referral bonus from the SO, I'm debating what the better choice is.

Without the referral bonus for the referrer, I'm on the fence about this one.

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