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App now or wait-Chase AARP 5/24

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Regular Contributor

App now or wait-Chase AARP 5/24

So quick rundown; I have had 3 new accounts in last 24 months hit my CR's but there is a 4th(Cap1) but hasn't reported yet. I'm seriously considering apping for the AARP because it would give me a little more flexibility. I have some solid cards and am very happy with where I am but I feel like adding the AARP card would benefit me in the dining cat and even the gas cat. I do have the AMEX BCP that rewards the gas purch but I believe both cards are about the same. Pretty much would use the BCP strictly for the groceries and then the AARP for everything else. I do use the CITI DC for a lot currently as well since the BCP only gives 1% on all other purchases outside of the groceries and gas.

 

So, if you guys were in my position would you go ahead and app for the AARP prior to the cap1 card reporting to the CRs or just hold off?

 

Am I overthinking this stuff when it comes to rewards vs purchases? I mean the combo of the BCP and DC seem to work well at the moment and I really would only be adding the AARP with the 3% dining which I don't eat out a lot. If I'd estimate maybe 3-5 times a month. So is that worth a couple HP's? I'm in MD so I believe Chase still does their HP's based on locations. I am not sure which CB's they pull though.

 

Do I really NEED the AARP card? Not really. However I feel like it would be a good card to add to my stable. My current oldest card is 12years with PC card Freedom Unlimited VS(it was a slate). So I have solid history with Chase. This technically would be my 5/24 card even though the Cap1 card hasn't reported yet.

 

I had been considering PenFed and adding a CC, checking or savings account and an installment loan but obviously if I did that I would not get approved for a new card with Chase. I'm just trying to thing ahead. At this time I have a jeep with 217k miles that is running great but anything can happen. I'd rather wait on getting in with Penfed until it's absolutely neccessary and since you can open multiple accounts with 1 HP good for 90 days that seems to be a wait and see approach for me at this time. I mean I don't even need the PenFed accounts it was just something I was looking at for mainly a used car loan down the road, putting it off as long as I can. I could go to one of my other banks that I have accounts with currently and more than likely get approved for anything but I hear a CU is the way to go for car loans. Currently no CU in my portfolio.

 

No mortgage in future.

 

Any advice or suggestions welcome, including my GC groupies lol Smiley Happy

 

 

Goal of 825+ Gardening since 05/05/2017
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Super Contributor

Re: App now or wait-Chase AARP 5/24

The gas rewards are the same as your BCP, so you're left with an extra 1% on restaurants with the AARP (above using your DC for 2%). You have decide if it's worth opening a new account. Keep in mind 1% extra means that $500 a month on dining will only give you an extra $5. Not saying not to do it, but as you can see, it may not add up to a large amount.

Message 2 of 12
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Regular Contributor

Re: App now or wait-Chase AARP 5/24

Yeah that's what I was thinking. For an extra 1% is it worth the HP. Def need to think about this before moving forward but in grand scheme of things it's not going to make or break me. Now if I was going for a mortgage then that would be a different situation.

 

Perhaps I'll just save the HP. I mean even when the Cap1 hits my CR I still will be at 4/24 so provided my credit is still in good shape I could always app for it down the road.

 

Thanks for the reply!

Goal of 825+ Gardening since 05/05/2017
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Valued Contributor

Re: App now or wait-Chase AARP 5/24

If you spend $500 at restaurants you'll get an effective $215 bonus. Wicked.
Open one, close three. Open one, close three.
Message 4 of 12
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Senior Contributor

Re: App now or wait-Chase AARP 5/24

Remember that 5/24 does not apply to cobranded cards at this time, nor do we currently have any concrete evidence that it will apply in the future.

 

We don't know either way, but as of now, the 5/24 rule does not apply to cobranded cards, including AARP.



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Message 5 of 12
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Regular Contributor

Re: App now or wait-Chase AARP 5/24


@humuhumunukunukuapuaa wrote:

Remember that 5/24 does not apply to cobranded cards at this time, nor do we currently have any concrete evidence that it will apply in the future.

 

We don't know either way, but as of now, the 5/24 rule does not apply to cobranded cards, including AARP.


Oh ok thx. Appreciate the information. I still am not sure I'm going to pull the trigger. Last night I was looking into the Disco IT card. I don't have a categories card and that might be one I'd consider adding as well.

 

 

Goal of 825+ Gardening since 05/05/2017
Message 6 of 12
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Moderator

Re: App now or wait-Chase AARP 5/24


@fordguy89 wrote:
If you spend $500 at restaurants you'll get an effective $215 bonus. Wicked.

+1 dont forget about the $200 signup bonus though if you use right link..  Signup bonus might be worth the HP though.. Depends on if your AAoA and inquiry can take the hit

Message 7 of 12
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Regular Contributor

Re: App now or wait-Chase AARP 5/24


@CreditCuriousity wrote:

@fordguy89 wrote:
If you spend $500 at restaurants you'll get an effective $215 bonus. Wicked.

+1 dont forget about the $200 signup bonus though if you use right link..  Signup bonus might be worth the HP though.. Depends on if your AAoA and inquiry can take the hit


Looks like it's only $100 signup bonus, is there a special link?

 

That might actually get me to pull the trigger

Goal of 825+ Gardening since 05/05/2017
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Super Contributor

Re: App now or wait-Chase AARP 5/24

Google.
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Message 9 of 12
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Moderator

Re: App now or wait-Chase AARP 5/24


@maxq wrote:

@CreditCuriousity wrote:

@fordguy89 wrote:
If you spend $500 at restaurants you'll get an effective $215 bonus. Wicked.

+1 dont forget about the $200 signup bonus though if you use right link..  Signup bonus might be worth the HP though.. Depends on if your AAoA and inquiry can take the hit


Looks like it's only $100 signup bonus, is there a special link?

 

That might actually get me to pull the trigger


Believe this is an allowable post link.. Here is the 200 bonus offer

 

http://view.offers.aarp.org/?j=fec01d757762037f&m=fe8c157073600d7a7d&ls=fe6817707760077a7615&l=ff9c1...

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