Hi MyFICOers...i hope all is well. I need your opinion.
I was reading in another post about the Chase Marriott Bonvoy Boundless card, and now I'm considering app'ing for it...but I would like your opinions on my chances. I only want the card for the SUB of 5 free days, and then sock drawer it. Here are few DPs:
My FICO 8 scores are EQ 751 EX 747 TU 747
I bank with Chase and have the Freedom (OG); Freedom Unlimited Visa Sig; Amazon Visa Sig
I also have cards with AMEX, Cap 1, Citi, Syncrony
AAoA 9 years 4 Months; Oldest account is 22 years; Newest account 1 month
I haven't apped for a new credit card in over 4 years
My credit limits range from 4,500 - 16,000 with a total of approx 90k
I have 5 inquiries on each CR....3 of them are from the same day in October 2021 when I shopped mortgage refi rates. i closed on the refi in December 2021.
Here is where it gets tricky: in May 2022, I opened a HELOC to do home renovations and I opened a Penfed personal loan to consolidate some cc debt. Right now, I'm only carrying a balance on my Citi card to take advantage 0% balance transfer. And I use Amex Gold as my daily driver which I pay in full each month, but i do allow the statement to report with the current month's balance.
Chase pc'd my old Slate card into the Freedom Unlimited Sig card earlier this month. Also I had several credit card pre-approvals on the Chase site until the HELOC and personal loan reported...then they disappeared. It only shows a car pre-approval now.
What do you think my chances are? My plan (if I get approved), is to use this card as my daily driver until i reach the 5k SUB spend, then sock drawer it and go back to the Amex Gold. I will not have a problem reaching the 5k spend in the allotted 3 months. All POV's are greatly appreciated.
Hi - Personal Loans, HELOCs (there is a long standing set of credit reporting articles that articulate that they don't show up as credit cards on credit reports but open ended credit lines or term loans) don't count towards 5/24 status. Chase is primarily looking to defeat churners who open and close credit cards with other banks in their program.
I personally always have a number of personal loans and don't have issues with 5/24 as long as my personal credit cards are being spaced out appropriately. Try looking at this reddit thread for more datapoints:
Sorry to piggyback this post.
Does Chase considers new LOC as 5/24?