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Apply for the BCE and wait to apply for CFU or vise versa? (second card)

potential_image
New Contributor

Apply for the BCE and wait to apply for CFU or vise versa? (second card)

  • Current cards: (list cards, limits, opening date)

    • Discover Student it, CL: $1,500, Aug 2019

  • FICO Score:

    • Experian: 769

    • Equifax: 735

    • TransUnion: 759

  • Oldest account age:

    • 10 months

  • Chase 5/24 status:

    • 1/24

  • Income:

    • $15,000 (student)

    • (no debt/loans)
  • Average monthly spend and categories:

    • dining $200

    • groceries: $300

    • gas: $40

    • travel: $0

    • other: $250 (+/- 100 depending on the month or what I need usually spent on Amazon)

  • Open to Business Cards:

    • No

  • What's the purpose of your next card? e.g. Building credit, Balance transfer, Travel, Cashback

    • Building credit, cashback, preferably no foreign transaction fee (which is why the chase amazon card is attractive to me right now)

  • Do you have any cards you've been looking at?

    • Amex BCE

    • Chase Freedom Unlimited

    • Amazon Prime Visa

  • Are you OK with category spending or do you want a general spending card?

    • Either or. Whatever you think fits me. I have a category spending card right now, so would prefer something that targets specific categories, like how the Amex has grocery stores 3%, 2% gas stations, and same with the amazon visa

I am interested in getting into the chase ecosystem, and I'll probably go the chase trifecta, but I'm interested in the BCE for grocery store purchases. As well as the amazon card for 5% at amazon and the no FTF (along with 2% grocery stores and gas stations)

 

I know if I go the chase route I'll wait until my 1 year credit history. I'll also mention that I have a chase checking account since march (only have 2k in it though, and I don't use it frequently, I'm not sure if that hurts me)

 

But just curious which route I should go for.

 

Also, at my 1 year mark, would I have a better chance at being accepted for the amazon card or a freedom card? Or should I apply for the BCE now and then in like 3-6 months go for chase?

 

I'll also add I did amex's pre-qualification thing and I was pre-qualified for the BCE, but I also heard that doesn't mean much

Personal Cards:

Business Cards:

Scores:

Message 1 of 18
17 REPLIES 17
M_Smart007
Epic Contributor

Re: Apply for the BCE and wait to apply for CFU or vise versa? (second card)

 

Hi @potential_image and welcome to the forums!

 

I would be inclined to suggest going into a Chase branch if possible?,

and speak to a personal banker about pre-approved. (Those are very solid.)

Usually Chase likes one year of history, but i have seen a few approvals under 1 year.

 

 

Your Experian score looks good for Amex.

Chase would probably yield a higher Credit Limit?   .. all JMHO

 

Others will give their thoughts.

Message 2 of 18
KLEXH25
Valued Contributor

Re: Apply for the BCE and wait to apply for CFU or vise versa? (second card)

Generally, I recommend going for the card you want and can benefit from the most first.

 

With that said, I would see if you get any preapprovals from Chase at the 1 year mark. If not, you can go for Amex BCE, and then try the 61 day 3x CLI. Then when you apply with Chase, you'll have two cards with (hopefully) decent limits to set the bar a little higher. 

Of course YMMV...





Message 3 of 18
potential_image
New Contributor

Re: Apply for the BCE and wait to apply for CFU or vise versa? (second card)

I don't live near any chase branches sadly. If I talk to a personal banker about pre-approval is that a hard pull/a really high chance of being accepted? If I am iffy on if I'll be accepted, would it be worth the 40 minute drive?

Personal Cards:

Business Cards:

Scores:

Message 4 of 18
potential_image
New Contributor

Re: Apply for the BCE and wait to apply for CFU or vise versa? (second card)

yea, that may be my plan, go for BCE, and then the CFU later. I heard the BCE has a really good SUB right now, plus they don't report for 2 months, so in that time I could go for the CFU possibly once I hit 1 year 1 mo credit history.

 

I am stressed about my $15,000 income for the CFU though. Do you think it will hurt me for the BCE? Also, should I wait for 1 year mark credit history with amex, or should I be good to apply now?

Personal Cards:

Business Cards:

Scores:

Message 5 of 18
ccquest
Established Contributor

Re: Apply for the BCE and wait to apply for CFU or vise versa? (second card)

Bonus for the BCE right now is the Amazon 20% back for 6 months on $1000 spending, plus the $100 in general for spending $1000 in 90 days. So if you had $1k to spend on Amazon in 3 months, you're getting $300 back which is way better than the Amazon card right now (but only short term).

Then you could also go for the 3X CLI at 61 days then another 181 days after that and maybe also get a CLI from Discover before going for the CFU card.
as of 4/1/21
Current Cards:
Message 6 of 18
potential_image
New Contributor

Re: Apply for the BCE and wait to apply for CFU or vise versa? (second card)

I thought it would be bad to do credit line increases because then my credit line for the CFU may not be as high? Isn't there a credit line to income ratio thing? You can't have x% more of credit available to you of your income

Personal Cards:

Business Cards:

Scores:

Message 7 of 18
MrZero
Regular Contributor

Re: Apply for the BCE and wait to apply for CFU or vise versa? (second card)


@ccquest wrote:
Bonus for the BCE right now is the Amazon 20% back for 6 months on $1000 spending, plus the $100 in general for spending $1000 in 90 days. So if you had $1k to spend on Amazon in 3 months, you're getting $300 back which is way better than the Amazon card right now (but only short term).

Then you could also go for the 3X CLI at 61 days then another 181 days after that and maybe also get a CLI from Discover before going for the CFU card.

 

For some (including myself) the usual SUB is at $150 for $1,000 spend and both are currently giving six months to reach, probably because of Covid. 😬

Updated 5/23/21.



Total Inquiries/12mo: EX: 4/2|TU: 5/2|EQ: 2/0
Derogs: 0
AAoA: 3Y2M w/AU, 1Y2M w/o AU.
AoOA: 1Y5M.
AoYA: Opened 5/23/21.
Total CL: 27,900
Utilization: ~5%

Message 8 of 18
ccquest
Established Contributor

Re: Apply for the BCE and wait to apply for CFU or vise versa? (second card)

I just missed the Amazon bonus when I signed up for mine, only getting the $150 back on $1000 spend in 3 months, don't see anything about 6 months unless that's for the Chase card.
as of 4/1/21
Current Cards:
Message 9 of 18
M_Smart007
Epic Contributor

Re: Apply for the BCE and wait to apply for CFU or vise versa? (second card)


@ccquest wrote:
I just missed the Amazon bonus when I signed up for mine, only getting the $150 back on $1000 spend in 3 months, don't see anything about 6 months unless that's for the Chase card.

I do not see anything on the Chase site about bonus, other than "Amazon Gift Card"

 

 

Message 10 of 18
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