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CFU - Apply now or later?

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New Member

CFU - Apply now or later?

Hello,

I'm a college student relatively new to CC's looking for some advice.

Current cards:

 

Discover it Student Cash Back (December 2019, $1.5K Limit)

Capital One Secured Platinum (June 2019, $700 Limit)

1FBUSA Visa (August 2019, $1000 Limit, increased from $250 a few days ago)

 

FICO8 - 724 - 2 HP (From Discover app, so TU, I believe)

 

 

I've had a Chase checking account since early last year and recently checked and saw that on the Chase App, it says that I am prequalified for a number of cards (CFU, CF, CSP, Slate) and I also got an email for the same CFU offer I see in the app (I have never gotten any in the past). I would really like to strengthen my relationship with Chase, so I am considering applying for a CFU. I know that Chase prefers that you have 1+ years of history, but I'm thinking that the prequalification and checking account will strongly (Maybe? Not sure) help. (Also, I noticed that I can only see the prequalifications in my app, but when I check online, or enter my details into the Chase prequal website it doesn't show any for some reason) Regardless, I will obviously wait if its better for me to do so, but I'm pretty unsure.

 

Even if we assume that I will get accepted, I'm not sure if applying for a new card is the right move for me at the moment and don't really know what steps to take. I figured that the CFU might be good for me as I frequently find myself spending outside of the Discover's 5% categories and got the $200 SUB for the CFU.

 

TLDR: Chances for the CFU and is it the right move for me to apply?

 

Thanks in advance!

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9 REPLIES 9
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Frequent Contributor

Re: CFU - Apply now or later?

I would wait if it doesnt show up with any offers from the prequalification app. I would wait until August when the two cards are a year old and you should be ok.






“The man who says he can, and the man who says he can not… Are both correct.”
Message 2 of 10
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Valued Contributor

Re: CFU - Apply now or later?

Being a chase customer should definitely work in your favor when you do apply.

 

As for when.. my opinion is that you should maybe wait until you're 3-4 months from your last application. So maybe in March or April.

Either way good luck with it!

July 2020
Experian Fico 8. 707
Transunion Fico 8. 705
Equifax Fico 8. 724

Capital one QS1. $2450
Discover IT Cashback. $12,000
PNC cash rewards signature Visa. $17,500
Chase SW rapid rewards signature visa $6900
Amex Green Card NPSL POT $11,000

Amex Hilton Honors $1000
Citi Rewards $3900
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Re: CFU - Apply now or later?


@NimbusIII wrote:

I would wait if it doesnt show up with any offers from the prequalification app. I would wait until August when the two cards are a year old and you should be ok.



The thing is, I see it on my phone, but on the website it bugs out. Not sure why.

But still, would it just be better to wait until August, even if it does eventually show up everywhere?

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Re: CFU - Apply now or later?


@CS1974 wrote:

Being a chase customer should definitely work in your favor when you do apply.

 

As for when.. my opinion is that you should maybe wait until you're 3-4 months from your last application. So maybe in March or April.

Either way good luck with it!



Yea, that might be a good idea. Or maybe I should even just wait until August.

Message 5 of 10
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Frequent Contributor

Re: CFU - Apply now or later?

At the very least wait until your new cards are 6mo+, Chase can be picky when it comes to recent apps. I'd wait until the youngest card hits 1y and then if you do get in the door don't apply for anything else until the Chase card is 6mo old




Goal: Mortgage/Chase Trifecta






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Re: CFU - Apply now or later?


@Nomad3 wrote:

At the very least wait until your new cards are 6mo+, Chase can be picky when it comes to recent apps. I'd wait until the youngest card hits 1y and then if you do get in the door don't apply for anything else until the Chase card is 6mo old


Alright, so if I wanted to be extremely safe, I should wait until around the end of this year?

Message 7 of 10
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Contributor

Re: CFU - Apply now or later?

i think you should be safe after august, since i believe that's the one year anniversary of your oldest card.

 

even though you have the offer in your account, sometimes having a thin file might give you a low sl when you apply and get approved.

 

 

 


@AFallacy wrote:

@Nomad3 wrote:

At the very least wait until your new cards are 6mo+, Chase can be picky when it comes to recent apps. I'd wait until the youngest card hits 1y and then if you do get in the door don't apply for anything else until the Chase card is 6mo old


Alright, so if I wanted to be extremely safe, I should wait until around the end of this year?








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Message 8 of 10
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Re: CFU - Apply now or later?


@fredzos wrote:

i think you should be safe after august, since i believe that's the one year anniversary of your oldest card.

 

even though you have the offer in your account, sometimes having a thin file might give you a low sl when you apply and get approved.

 

 

 


@AFallacy wrote:

@Nomad3 wrote:

At the very least wait until your new cards are 6mo+, Chase can be picky when it comes to recent apps. I'd wait until the youngest card hits 1y and then if you do get in the door don't apply for anything else until the Chase card is 6mo old


Alright, so if I wanted to be extremely safe, I should wait until around the end of this year?





I don't really mind a low SL, it's more that I just want to make sure that my chances of getting accepted are high. I don't have a very high income as I'm just a student and just want to build a better relationship with Chase. Although, I do understand that my chances aren't as high as they could be if I just waited a couple months.

Message 9 of 10
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Frequent Contributor

Re: CFU - Apply now or later?

If I were you, I would walk into a branch and apply for the Chase Student Card. The card to me would kinda figure out out how much Chase will extend to you. The card would be first with a CL and if you do 5 Paid on Time within the first 10 months, they will do a SP CLI.

 

That must be something for you just to see where Chase would put you at if you put the card as your primary for those 5 months.

 

 

But you may want a couple of those cards to be 1 year at least. That was one of my first reasons why they deny me.

MSGCU Rewards | $5k | 10/2/2020 | 9.25% APRDiscover Student Cash It | $3,550 | 1/4/2019 | 12.99% APRAmex 1.5% CB | $3.9k | 7/3/2019 | 20.99% APRBest Buy Store Card | $3kChase Student Card | $1k | 4/10/2020 | 14.99% APRDiscover Cash It | $1,500 | 10/2/2020 | 11.99% APRCiti DC | $3.5k | 10/14/2020 | 16.99% APR

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Ford Credit Car Loan 3-year 7/31/2018 ($199.26/month)
$8,000 DCU Personal Loan 5-year 5.99% 10/2/2020 ($155.38/month)

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