Amex, Chase or Capital One

[Anonymous]

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@mlj01 wrote:

Maybe do BCE and QuickSilver now?

Then wait to see if $200 freedom comes back? Or just take the $100 loss and do BCE and Freedom now?

Now that I think about it, as long as I go for the CSP and/or the Venture even after 2016 starts could be fine, as if I don't use points for the honeymoon between weddingg and start of school, I can use it for my future wife and I to go south over Christmas vacation by getting Airfare and hotel with the bonus points if they are still offered then.

Im still trying to think of the timeline I should do, and if I should do Freedom now or later

EDIT:

With hefty annual fee I don't know if PRG unless someone tells me otherwise, i don't know if I need a charge card. 

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On the PRG you have to crunch the numbers. If you would use the card in such a way that the rewards would out weigh the cost of the annual fee, then it works. If not, it doesn't. Two of your biggest expenditures are groceries and gas. The BCE has 3% back on groceries. The Sallie Mae has 5% back on groceries and 5% back on gas. The SM also has 5% back on books. As a student are you still buying books?

I'd grab the BCE to get the bonus and get in with Amex, and the Sallie Mae for your everyday spend. Since your honeymoon isn't until toward the fall of next year, the travel related cards can wait.

[Anonymous]

I would have to agree with CAPTOOL. The travel cards could wait for now to be honest.

My advice would be, apply for several cards at once, and have a purpose/plan for each one.

Don't just apply for the signup bonus, although it is a huge plus; as you do not want to get in the habit of churning CC's when you're fairly new to credit.

You want your first few cards to be ones that will grow with you in the long term. Something that yields a high rate of rewards over a long period of time that is constantly increasing your AAoA.

For example:

Sallie Mae - Gas/Books

Amex EDC - Groceries

CSP - Dining and travel

Citi DoubleCash - 2% on anything else.

When applying for the CSP, they do like seeing that you have a card with at least a $5k CL on it though as that is the minimum CL for that card; with it being a Visa Signature. So apply with caution. I feel the CC's rewards would be fairly useless anyway unless you're travelling at least once a year.

As mentioned by another user already too, try to avoid applying for cards with high annual fees as it dilutes your rewards.

[mlj01]

Okay, others have said they weren't huge fans of the Sallie Mae.

I already have 2x rewards promo on my Discover it so:

Rotating Categories: 10% (5%*2)

Everything else is 2%

So possibly go for: (most likely 2 out of 3?)

Amex BCE - Groceries at 3% (it states supermarket so Walmart is covered right? But Sams would not as it shows up as warehouse club?)

Sallie Mae - Gas//Books

Freedom - Roatating categories? Looks like this year they aren't overlapping alot with Discover, this would start history with Chase, which is good?

Avoid right now:

Chase CSP - Wait till fall atleast if not into 2016. (If i have freedom, before the 1 year is up if rewards aren't worth it, then transfer CL to Freedom if I have it?) 

Cap1 Venture and Quicksilver - Do venture fall 2015 or in 2016; No quicksilver? Or wait to see if Cap1 will allow to combine like is rumored and if it is then get Quicksilver and combine CL into QS for no AF

Could do both Chase at same time if the history with them isn't a huge factor and only have 1 pull.

Edit: Would i have any shot at getting a Signature at the moment on Freedom or Quicksilver?

Do you think i would have a good chance at acceptance at sallie mae?

Travel card in the future would be helpful on no FTF, if I go into Canada. I have flown 2 round trips on southwest in the last year,but currently none planned for next year.

[Anonymous]

I mean you cannot really argue with 5% back on gas all year round IMO!

I think you would stand a good chance of being approved given the scores you have right now, even though they are not actual FICO scores.

Didn't know you got 2% on everything else with the Discover so that pretty much eliminates the need for the Citi Double or the QS then, at least until the promo ends.

As for if you'd make the Visa Signature cut, you'd be much more likely with Cap1 I would think. They seem to be a lot more generous with SL's. The Visa Signature perks are not that great anyway, other than the Fandango movie ticket promo! They are geared a lot more towards travel too which doesn't sound like it would benefit you that much anyway?

And yes you could easily transfer the CSP limit to the Freedom after the year. But I think it would be a waste of a HP due to only having one CC right now. Wait until next year for the Sapphire after going on a mini app spree

[mlj01]

yeah my biggest travel will be between visiting my Fiance a hour away on weekends, and occasionally going home which is 4 hours away. Sometimes at home I will travel across the state for reffing hockey which rarely requires hotel stay but does use gas.

I believe HP stay on account for 2 years, but is there a time frame when banks will shrug them off, like if I did a min spree now it wont be too much for CSP or Venture in a few months to a year?

Yeah its 1% * 2x bonus for 1 year, they pay out the double though after the one year so next june. 

If i did CSP and Freedom at same time in the future back to back, i may be able to avoid a 2nd hardpull right? Also i don't think ill apply for much after that time for awhile unless i decide to get a new used car ha. Fandango tickets is what keeps catching my attention, but is only offered during part of the year right? Be a cheap date idea! 

So you believe: 

SM MC and AMEX BCE now? Anything else right now?

Or wait for everything else?

Do the SM card before BCE for better odds?

[Anonymous]

Well its good to know you do in fact travel. But do consider the CSP doesn't include gas as 'travel'. Which is my only complaint about the card.

Yes, HP's are for 2 years but most banks usually tend to not care as much if they are 12+ months old. And when I said most, yes, Chase's new policy states that if you have opened more than 5 Chase cards (not including co-branded cards) in the past 24 months, it's a denial, so I wouldn't worry about that.

IMO you'd have to be pretty crazy to of opened FIVE Chase accounts within 24 months! People, including myself at one point were getting it mixed up with 5 accounts opened with anyone. Although they still do not like seeing too many new accounts either. You wouldn't need to worry about that though as you'd only of opened say 2-3 and none with Chase upon app. Also, always consider that if you do get a denial or the '7-10 day', you can always call the backdoor number and report income etc which improves your chances.

Yeah, the SM and Amex EDC seem like the best option right now.

But do look into the Citi DC after your Discover promo ends as thats 2% back on everything rather than 1.5% with the QS. Those 3 should cover pretty much everything I think though.

As for applying for the SM first, I would think that the Amex would be a little more strict but I honestly don't know? The only reason I say that is that the SM is centered more around students, and students are not known for a thick credit profile anyway; so I would think it would be fairly easy to be approved for.

Keep us updated, when are you thinking of applying? I would be interested in approvals and standard CL's.

[Santi78342]

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@Anonymous wrote:

Well its good to know you do in fact travel. But do consider the CSP doesn't include gas as 'travel'. Which is my only complaint about the card.

Yes, HP's are for 2 years but most banks usually tend to not care as much if they are 12+ months old. And when I said most, yes, Chase's new policy states that if you have opened more than 5 Chase cards (not including co-branded cards) in the past 24 months, it's a denial, so I wouldn't worry about that.

IMO you'd have to be pretty crazy to of opened FIVE Chase accounts within 24 months! People, including myself at one point were getting it mixed up with 5 accounts opened with anyone. Although they still do not like seeing too many new accounts either. You wouldn't need to worry about that though as you'd only of opened say 2-3 and none with Chase upon app. Also, always consider that if you do get a denial or the '7-10 day', you can always call the backdoor number and report income etc which improves your chances.

Yeah, the SM and Amex EDC seem like the best option right now.

But do look into the Citi DC after your Discover promo ends as thats 2% back on everything rather than 1.5% with the QS. Those 3 should cover pretty much everything I think though.

As for applying for the SM first, I would think that the Amex would be a little more strict but I honestly don't know? The only reason I say that is that the SM is centered more around students, and students are not known for a thick credit profile anyway; so I would think it would be fairly easy to be approved for.

Keep us updated, when are you thinking of applying? I would be interested in approvals and standard CL's.

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ALL of the reports I have seen have indeed said that it is 5 accounts opened with ANYONE. Can you please post a link to a thread or other proof stating otherwise? 

This policy plays a major role on how the OP should apply for cards & it kept me from chasing that $200 Freedom bonus because I was under the impression it was 5 account opened with anyone. 

[mlj01]

Probably apply in the next couple of days, or even tonight if i decide. I don't think Sallie Mae has any bonus, but 5% on Gas and Groceries is great.  And Amex would have a cash bonus.

Avoid Chase, and Cap1 for now? Maybe a Venture(or quicksilver) or Freedom in a couple of months? Then CSP most likely after the new year or later? 

Sallie Mae doesn't ahve any prequalify sites to check right? Amex being PreQual should help that cause I'd think. I would just ahve to decide on the order of applying.

After I get married besides a possible winter break trip, the futrher I get thru school we will probably travel alot more. I do forget that we drove 10 hours to St Louis last May, and went 5 hours to the Twin Cities in March, so I consider that 3 &1/2 vacations in the last 14 months after counting Disneyworld last August and Spring Break flight to Baltimore/DC that I did this year. 

She is a big traveler and has now gone to all 50 states(In Alaska her 50th right now, lucky); and we have plans to keep going places just nothing laid in stone yet with school and wedding to worry about first!

[Santi78342]

It should be noted the $200 Freedom bonus is no longer offered by Chase.

[Anonymous]

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@Santi78342 wrote:

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@Anonymous wrote:

Well its good to know you do in fact travel. But do consider the CSP doesn't include gas as 'travel'. Which is my only complaint about the card.

Yes, HP's are for 2 years but most banks usually tend to not care as much if they are 12+ months old. And when I said most, yes, Chase's new policy states that if you have opened more than 5 Chase cards (not including co-branded cards) in the past 24 months, it's a denial, so I wouldn't worry about that.

IMO you'd have to be pretty crazy to of opened FIVE Chase accounts within 24 months! People, including myself at one point were getting it mixed up with 5 accounts opened with anyone. Although they still do not like seeing too many new accounts either. You wouldn't need to worry about that though as you'd only of opened say 2-3 and none with Chase upon app. Also, always consider that if you do get a denial or the '7-10 day', you can always call the backdoor number and report income etc which improves your chances.

Yeah, the SM and Amex EDC seem like the best option right now.

But do look into the Citi DC after your Discover promo ends as thats 2% back on everything rather than 1.5% with the QS. Those 3 should cover pretty much everything I think though.

As for applying for the SM first, I would think that the Amex would be a little more strict but I honestly don't know? The only reason I say that is that the SM is centered more around students, and students are not known for a thick credit profile anyway; so I would think it would be fairly easy to be approved for.

Keep us updated, when are you thinking of applying? I would be interested in approvals and standard CL's.

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ALL of the reports I have seen have indeed said that it is 5 accounts opened with ANYONE. Can you please post a link to a thread or other proof stating otherwise? 

This policy plays a major role on how the OP should apply for cards & it kept me from chasing that $200 Freedom bonus because I was under the impression it was 5 account opened with anyone. 

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It will be on my replied posts somewhere, I ended up saying the same thing as you the other day and somebody who seemed very truthworthy (thousands of posts) told me I was wrong and that I should be backing up my posts with proof. So I just accepted his response as truth. Plus, it wouldn't play into the OP's chances too much as he would of only had 2-3 accounts opened within 24 months. And, I thought I had already established that the CSP wouldn't be the best fit either.