Ok, so posted a few days ago as I was trying to decide between UR or MR points strategy. After receiving some useful insight, I decided to dig a bit deeper and research some more. I’ve decided to move forward with Chase. I already have a relationship with them, their rewards categories fit better with current spend/lifestyle, and I don’t want to end up on the wrong side of 5/24 by starting with Amex first. So now I have to decide when and how to app for the different cards I’m wanting.
I have had a business and personal checking with chase since 2018, and also an Ink Business Cash card ($15,900 cl). The issue with that card is that when I applied I was a sole proprietor and in 2019 I established an S-Corp. So unfortunately, I haven’t helped build or even start my businesses credit history and I would have to start over with a new card. I have accumulated rewards on that card, but am wanting a CSR to be able to transfer and redeem at a higher rate.
So the cards I am wanting to get are the CFF, CSR, and a new Ink Business Preferred. Where I keep going back and forth is where to start. I need to book travel for Apr (x2), Jul, Oct, Dec…so far. Would be great to travel with CSR perks. CFF would work great for everyday purchases but CSR would be great to transfer points from the business cash and purchase travel.
If I go for CSR are my chances higher for denial? How quickly could I app for both…same day, one week, one month, 3 months? I see a lot of conflicting info. Should I just start with the CFF and give it some time? I have already decided that the new business card will have to wait until later.
It’s taken a long time to get to where I think Chase would even consider me, so I get nervous anytime its time to pull the trigger. Do I have good odds? My offers on Chase only show me business pre-approvals. Also, none of the soft pull sites pull anything bc I had a fraud alert on my files.
Any opinions or experience is greatly appreciated!
My Current Stats:
Fico 8: EX 789 (today), EQ 719 (03/14), TR 752 (03/14)
Utilization: 6%
Hard Inquiries: EX 3, EQ 6, TU 6
AAoA: 5 yrs 9 mos
Cards:
Cap1 QS, $5k, 9 yrs
BB Visa, $8k, 5y6m
NFCU Cash Rewards, $22k, 7y3m
NFCU Go Rewards, $22k, 7y2m
Amazon Sync, $10k, 5y6m
City Turn Sync, $5.5k, 8m
Home Depot, $10k, 6y11m
USAA Rate Advantage, $5k, 3y9m
Chase Business Cash, $15.9k, 5y
Other:
Mortgage 10m
Auto 4m
NFCU LOC, $15k, 7y2m
I'll say start with CSR and then go after Ink Business Preferred. By that time you may see APPROVAL invite for CFF. Once you are settled with CHASE then look for AMEX options. But not too soon that would spook CHASE thinking you seeking too much credit in short time.
I cold apped CHASE Amazon after not having any success with pre-qual at all! Was surprised to get a decent SL and 3 months later they offered me CSP pre-approval! Again decent SL. Now they offering APPROVAL for 5 cards that I assume it could be SP APPROVAL if I want to take it.
Good luck, you already know what next few cards going to be 👍
Also CHASE started offer SP CLIs so even if you start with low limit, you can improve every 6 months.
Decided to go ahead and try for CSR. I went into the branch because my credit has a fraud alert from late last year and knew they would want verification. Also, they offered an in-branch SUB of 90,000 (60,000 online). I'm in Florida, only seen an inquiry on EX so far.
I was approved with a credit limit of $21.7...much to my surprise! Now to hope I can get the CFF before the 5% grocery SUB goes away. I've read conflicting data points, some saying just wait until the next day and some saying to wait 3 months or longer.
@rsa85 wrote:Decided to go ahead and try for CSR. I went into the branch because my credit has a fraud alert from late last year and knew they would want verification. Also, they offered an in-branch SUB of 90,000 (60,000 online). I'm in Florida, only seen an inquiry on EX so far.
I was approved with a credit limit of $21.7...much to my surprise! Now to hope I can get the CFF before the 5% grocery SUB goes away. I've read conflicting data points, some saying just wait until the next day and some saying to wait 3 months or longer.
Congrats on your CSR 👍👍
I would wait for at least a month before apping for CFF, however if you are looking for grocery card take a look at Blue Cash Preferred® Card probably the best one out there and you can down grade to other cards if you don't want to pay the AF for the second year.
Also make sure you can support the spend to get the SUB when you get more than one card!