Advice needed - App Spree Next Month???

[Anonymous]

I am gearing up for a spree next month and need advice.  Other than mortgage appliction for the purchase of my home last month and a WF card I opened in August, I haven't applied for anything since May 10 2014.

As of 2/15, my scores were EXP 697, TU 737, EFX 713.  My only baddies are almost 7 years old (11/2008, Deed in Lieu of F/C and HELOC charge off).  I don't have much debt, all my cards are -0- balance except for one.  I also have a car loan which has been open for over a year.  My credit card info (issuer, date opened, and credit limit/balances) is at bottom of post.

I  have a few inquiries, majority of them will be aged 1 year as of 5/10/2015, and most of them are on EXP.

I plan on waiting until after May 10 (so both my cards and inquiries from that spree are seasoned over a year).  

Any suggestions about the sequence of applications?  I want to maximize both the number of approved cards, and potential credit limits.  I'm interested in Chase Slate, Cap One Venture, and BAC (received prequal letter).  I'm also thinking about Discover It and a Amex card however, had some trouble with these cards about 20 years ago.  I eventually got them paid off, and both are reporting closed in 2008, with no late payments.   Does anyone think I have a shot with them?

Any input would be greatly appreciated my credit card info is below.

Cap One Platinum opened 10/11 CL $1750, -0- bal

Walmart Store Card opened 10/13 CL $2700, -0- bal

Chase Freedom opened 5/14 CL $4500 , $1700 bal

JCP  5/14 CL $1750 -0- bal

Macy's 5/14 CL $2000 -0- bal

WF 8/14 CL $3000 -0- bal

[Anonymous]

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@Anonymous wrote:

I am gearing up for a spree next month and need advice.  Other than mortgage appliction for the purchase of my home last month and a WF card I opened in August, I haven't applied for anything since May 10 2014.

As of 2/15, my scores were EXP 697, TU 737, EFX 713.  My only baddies are almost 7 years old (11/2008, Deed in Lieu of F/C and HELOC charge off).  I don't have much debt, all my cards are -0- balance except for one.  I also have a car loan which has been open for over a year.  My credit card info (issuer, date opened, and credit limit/balances) is at bottom of post.

I  have a few inquiries, majority of them will be aged 1 year as of 5/10/2015, and most of them are on EXP.

I plan on waiting until after May 10 (so both my cards and inquiries from that spree are seasoned over a year).  

Any suggestions about the sequence of applications?  I want to maximize both the number of approved cards, and potential credit limits.  I'm interested in Chase Slate, Cap One Venture, and BAC (received prequal letter).  I'm also thinking about Discover It and a Amex card however, had some trouble with these cards about 20 years ago.  I eventually got them paid off, and both are reporting closed in 2008, with no late payments.   Does anyone think I have a shot with them?

Any input would be greatly appreciated my credit card info is below.

Cap One Platinum opened 10/11 CL $1750, -0- bal

Walmart Store Card opened 10/13 CL $2700, -0- bal

Chase Freedom opened 5/14 CL $4500 , $1700 bal

JCP  5/14 CL $1750 -0- bal

Macy's 5/14 CL $2000 -0- bal

WF 8/14 CL $3000 -0- bal

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Of the 3 cards you mention I would go with BAC, Slate, then Venture.  As for Discover and American Express there is no way to tell whether you are blacklisted or not until you apply.  Why do you want the Slate as opposed to say the Sapphire Preferred?  It's only value is as a balance transfer card. (Besides the free Fico score)

[TheConstant]

Not to reiterate what's always reiterated, but if you could hold off until you bring the Freedom balance down, you'll probably get higher SL's on whatever you apply for..

Right now you're sitting at 11%, if you can cut it in half you're in a better position.

[Anonymous]

I was thinking Slate because there is no annual fee, but I just checked out a side by side comparison with Sapphire, and it looks like the latter is a better deal after all.  Do you think I would have easier time getting approved for one over the other?

[Anonymous]

Yes, thanks, I forgot to mention I am getting Freedom to under $450 within a couple of weeks.

[TheConstant]

Sapphire is harder to get approved IMO.

Honestly, depends on what your needs are for which card. You already have a pretty good everyday card in Freedom.

Do you travel a lot?

If not, do you travel at all?

Do you want something flexible in what to redeem in rewards?

Etc..

EDIT:
Slate is good for the FICO, especially since it's EX which isn't given by many other cards..

[Anonymous]

I don't travel a lot, but am planning on a trip to the Middle East with girlfriends within the next year or so.

I also like the cash back rewards, and will be spending a little money in the coming months on my new home.

Lastly, I want to acquire more available credit before I hop back into the garden and watch my scores grow for awhile.   My next big purchase will be a car in 2 - 3 years, and I'm hoping to get my scores in the 750+ range if at all possible by then.

[kdm31091]

Slate and Sapphire are not really comparable IMO. They have completely different purposes.

The CSP is a nice card but it is really only valuable if you spend enough to justify the AF. Really, if you aren't a heavy traveller, it is not an amazing card and hard to justify the AF. The Slate offers no rewards and is a BT tool. It's pretty much apples to oranges.

If you travel a reasonable amount and can come out ahead of a $95 annual fee with your spend, go for CSP. But it doesn't offer a 0% period or anything, which is why it is nothing like the Slate.

[Anonymous]

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@Anonymous wrote:

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@Anonymous wrote:

I am gearing up for a spree next month and need advice.  Other than mortgage appliction for the purchase of my home last month and a WF card I opened in August, I haven't applied for anything since May 10 2014.

As of 2/15, my scores were EXP 697, TU 737, EFX 713.  My only baddies are almost 7 years old (11/2008, Deed in Lieu of F/C and HELOC charge off).  I don't have much debt, all my cards are -0- balance except for one.  I also have a car loan which has been open for over a year.  My credit card info (issuer, date opened, and credit limit/balances) is at bottom of post.

I  have a few inquiries, majority of them will be aged 1 year as of 5/10/2015, and most of them are on EXP.

I plan on waiting until after May 10 (so both my cards and inquiries from that spree are seasoned over a year).  

Any suggestions about the sequence of applications?  I want to maximize both the number of approved cards, and potential credit limits.  I'm interested in Chase Slate, Cap One Venture, and BAC (received prequal letter).  I'm also thinking about Discover It and a Amex card however, had some trouble with these cards about 20 years ago.  I eventually got them paid off, and both are reporting closed in 2008, with no late payments.   Does anyone think I have a shot with them?

Any input would be greatly appreciated my credit card info is below.

Cap One Platinum opened 10/11 CL $1750, -0- bal

Walmart Store Card opened 10/13 CL $2700, -0- bal

Chase Freedom opened 5/14 CL $4500 , $1700 bal

JCP  5/14 CL $1750 -0- bal

Macy's 5/14 CL $2000 -0- bal

WF 8/14 CL $3000 -0- bal

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Of the 3 cards you mention I would go with BAC, Slate, then Venture.  As for Discover and American Express there is no way to tell whether you are blacklisted or not until you apply.  Why do you want the Slate as opposed to say the Sapphire Preferred?  It's only value is as a balance transfer card. (Besides the free Fico score)

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@I agree with @Anonymous suggestion.  Chase has redesigned and revamped the Slate card making it very very competitive in addtion to it being a balance transfer card.  You are also now able to get your EX FICO for free every month and most credit companies don't offer that.