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App spree guidance at 4/24...

OmarGB9
Community Leader
Super Contributor

Re: App spree guidance at 4/24...


@SaintMortichai wrote:

@Jordan23ww You have a great point there. I would spend about $260 a month in utilities and cell phone services. It all depends on how quickly I want cash back. I would have a higher SUB with the MCP at $150 in $500 worth of spend in 90 days, which would be done in less than three months. (And also a larger SUB by $50 compared to the PPMC.) I would also average about $13 a month in cash back.

 

The MCP would cover those categories and I'd also have a flat 2% back on in-store grocery shopping for the other category. 

 

I would use the CSP mainly for rent for the SUB, especially with my rent going up in July. No worries, I always PIF before due dates. And I'd use the 3% for streaming and online grocery.

 

Overall, I think the CSP and MCP combo is more important right now. I have my BoA CCC that already does 3% online purchases, so I'm not missing much by not applying for the PPMC.

 

You are a genius. Thank you for your input and making me reevaluate what cards I need right now, besides want. The CSP and MCP are stronger cards, especially for spend I'm going to naturally do anyway. I might as well be rewarded for it!

 


I'm sure you've done your due diligence already, but just to make sure all bases are covered: are you able to pay rent with a CC? And/or is there a fee to do so, and if there is, is it worth it?


Last App: 12/27/2021
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Currently rebuilding as of 04/11/2019.

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Current FICO 8 scores:


Message 11 of 16
SaintMortichai
Established Member

Re: App spree guidance at 4/24...


@OmarGB9 wrote:

@SaintMortichai wrote:

@Jordan23ww You have a great point there. I would spend about $260 a month in utilities and cell phone services. It all depends on how quickly I want cash back. I would have a higher SUB with the MCP at $150 in $500 worth of spend in 90 days, which would be done in less than three months. (And also a larger SUB by $50 compared to the PPMC.) I would also average about $13 a month in cash back.

 

The MCP would cover those categories and I'd also have a flat 2% back on in-store grocery shopping for the other category. 

 

I would use the CSP mainly for rent for the SUB, especially with my rent going up in July. No worries, I always PIF before due dates. And I'd use the 3% for streaming and online grocery.

 

Overall, I think the CSP and MCP combo is more important right now. I have my BoA CCC that already does 3% online purchases, so I'm not missing much by not applying for the PPMC.

 

You are a genius. Thank you for your input and making me reevaluate what cards I need right now, besides want. The CSP and MCP are stronger cards, especially for spend I'm going to naturally do anyway. I might as well be rewarded for it!

 


I'm sure you've done your due diligence already, but just to make sure all bases are covered: are you able to pay rent with a CC? And/or is there a fee to do so, and if there is, is it worth it?


@OmarGB9 Yes, I have been able to do so. I've been doing so since the beginning of this year. There's a $5 fee. With the 80k SUB for the CSP, it's a no-brainer. Thanks for asking!

Bank of America Customized Cash Rewards: $3,000 | Capital One Quicksilver WEMC: $5,000 | Comenity GameStop PowerUp Rewards: $2,800 | Rooms to Go: $3,000 | Best Buy Citi Visa: $2,000 | Chase Amazon Prime Visa: $2,900 | Target RedCard: $2,500 | Chase Freedom Flex: $11,000 | Chase Freedom Unlimited: $11,900 | Chase Sapphire Preferred: $13,100 | Elan Max Cash Preferred: $2,000

AU cards - Discover IT: $14,000 | Southwest Rapid Rewards: $6,000 | BoA Customized Cash Rewards: $11,000 | BoA Americard: $8,500 | Home Depot: $8,000

Cards I Want: PayPal MC, Capital One Savor One, Citi Custom Cash, AMEX BCP
Message 12 of 16
SaintMortichai
Established Member

Re: App spree guidance at 4/24...

I applied this morning. I logged in, just in case they asked me to reallocate my credit limits in order for me to get the card. I received the under review status after clicking submit. Two minutes later, I receive an email stating 30 days under review. Then within the same minute, another email comes in. I have been approved! It did not state my limit, so I called the application status number. Indeed, I was approved, but not for $5000 or $6000 that I was thinking I would receive. I WAS APPROVED FOR $13,100. My goodness! Thank you Chase. I am now at 5/24 and I have all the Chase cards I would ever want or need, unless they devise a new one that would suit my needs.

 

Some DP:

They pulled both Equifax and Experian. So now my inquiries are TU: 0, EQ: 4, EX: 7.

My scores are currently FICO 8 TU: 769, FICO 8 EX: 763, Vantage 3.0 EQ: 744

 

I have decided to wait on applying for the Elan Max Cash Preferred due to the amount of inquiries on both EQ and EX. I may apply for the Max Cash Preferred and PayPal MasterCard in late June after two EX inquiries fall off. But as for right now, I am overcome with emotion in regards to my approval and even more so with that SL!

 

Thank you to everyone for their input! I was most nervous about this card, but then I realize I don't apply for cards as often as I think I do. This is my 4th card in 12 months.

Bank of America Customized Cash Rewards: $3,000 | Capital One Quicksilver WEMC: $5,000 | Comenity GameStop PowerUp Rewards: $2,800 | Rooms to Go: $3,000 | Best Buy Citi Visa: $2,000 | Chase Amazon Prime Visa: $2,900 | Target RedCard: $2,500 | Chase Freedom Flex: $11,000 | Chase Freedom Unlimited: $11,900 | Chase Sapphire Preferred: $13,100 | Elan Max Cash Preferred: $2,000

AU cards - Discover IT: $14,000 | Southwest Rapid Rewards: $6,000 | BoA Customized Cash Rewards: $11,000 | BoA Americard: $8,500 | Home Depot: $8,000

Cards I Want: PayPal MC, Capital One Savor One, Citi Custom Cash, AMEX BCP
Message 13 of 16
SouthJamaica
Mega Contributor

Re: App spree guidance at 4/24...


@SaintMortichai wrote:

WARNING, long, extensive post ahead:

 

Hello everyone,

 

Been a lurker, this is my first time posting on my personal credit and I would love as much input as possible. I am currently at 4/24 and I have done extensive research by reading numerous forum posts and watching many credit card YouTubers. I've received numerous Discover It preapproved mailers for over six months now (about three a week). I was totally ready to finally jump on that card, especially with the 0% APR for 18 months offer. I have been wanting the Elan Max Cash Preffered card through my local bank (Ameris Bank in GA) for 5% back on utilities and 5% on streaming. I also had my eyes on the PayPal Mastercard, but wanted to wait until the $100 SUB offer became available. I also had my eyes on the Citi Custom Cash and SavorOne cards, but after evaluating which cards I would need versus ones I would want, I had narrowed it down to the Discover IT cash back, the PPMC, and the MCP. This month, I noticed that the PPMC's SUB is now live and is a limited time offer which expires June 30th! It would be my first flat 2% cash back card.

 

Then I realized something, I'm currently at 4/24. I have the CFU and the CFF cards with Chase. Why not complete the trifecta with the CSP? I was always so weary about having a card with an annual fee. I have the Prime Visa card and realized after paying for my annual Prime membership ($139) with the card, having an annual fee card under $100 wouldn't be so bad. Now the CSP has that SUB of 80k points. This is my last opportunity to try and see if I am approved before going 5/24 and over. Now for a bit of my Chase history: opened a checking and savings account with them in 2019. Prime Visa opened 11/2020, CFF opened 12/2/2021, CFU opened 1/30/2022. Current limits: Prime $2,900, CFF $13,800, CFU $9,100. I make $65k a year, so if I'm approved for the CSP, I will still have wiggle room for the minimum $5k for the card limit.

 

My current scores are TU: 736, EQ: 734, EX: 757

Current inquiries: TU: 0, EQ 3 (two cards and one CLI HP), EX: 6 (three cards, two renting pulls about to fall off next month, and a Bank of America inquiry).

I intend on applying in the middle of this month because my credit score will be higher than it is now due to paid balances being reported on numerous cards around the 12th. Current AAoA: 5 years, 2 months for TU and 4 years, 10 months for EQ, which will also increase by the middle of May as well due to accounts aging. AoOA: 16 years, 7 months (AU on my dad's Bank of America card), but my AoOA is 8 years, 10 months, not sure if that plays a factor. AoYA: 3 months, technically 3 1/2, but it will still be 3 on the bureaus. By the time I apply, I will be at 2/6, 3/12, and 4/24. Credit utilization is currently 14-15%, will be lower mid-May when payments report to the bureaus.

 

Of course, I will be applying for the CSP first, followed by the MCP, and then the PPMC. Chase will pull Experian. Elan will pull Equifax, Synchrony will pull TransUnion, with a possibility of also pulling Experian. I would not be doing any extra spend to reach any of the SUBs. I would use the CSP only for my rent: currently at $1,225/mo, increasing to $1,575/mo July 1st. Would it be better to apply online or in person for the CSP? I think this post has gone on long enough. Thank you for reading. Looking forward to all the feedback. Should I go for it?!?


Your only question seems to be whether to apply for the CSP online or in person. I would do it online. Time is money.


Total revolving limits 689000 (587000 reporting) FICO 8: EQ 718 TU 714 EX 695

Message 14 of 16
SaintMortichai
Established Member

Re: App spree guidance at 4/24...

@SouthJamaica Look at the post above your recent post. I applied online and was approved. Yay! I didn't care about whether or not I had to paid the annual fee for the first year. I thought I would apply in person because I didn't have a pre-approved offer, but I decided to stay home and apply online. Thanks for all your input and advice!

Bank of America Customized Cash Rewards: $3,000 | Capital One Quicksilver WEMC: $5,000 | Comenity GameStop PowerUp Rewards: $2,800 | Rooms to Go: $3,000 | Best Buy Citi Visa: $2,000 | Chase Amazon Prime Visa: $2,900 | Target RedCard: $2,500 | Chase Freedom Flex: $11,000 | Chase Freedom Unlimited: $11,900 | Chase Sapphire Preferred: $13,100 | Elan Max Cash Preferred: $2,000

AU cards - Discover IT: $14,000 | Southwest Rapid Rewards: $6,000 | BoA Customized Cash Rewards: $11,000 | BoA Americard: $8,500 | Home Depot: $8,000

Cards I Want: PayPal MC, Capital One Savor One, Citi Custom Cash, AMEX BCP
Message 15 of 16
SouthJamaica
Mega Contributor

Re: App spree guidance at 4/24...


@SaintMortichai wrote:

@SouthJamaica Look at the post above your recent post. I applied online and was approved. Yay! I didn't care about whether or not I had to paid the annual fee for the first year. I thought I would apply in person because I didn't have a pre-approved offer, but I decided to stay home and apply online. Thanks for all your input and advice!


Congratulations. Great card. Enjoy it.

 

 


Total revolving limits 689000 (587000 reporting) FICO 8: EQ 718 TU 714 EX 695

Message 16 of 16
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