Chase IGH

[dodgerslv]

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@Anonymous wrote:

I just didn't know if reapplying for another Chase card so soon would send up some red flags, since (as I mentioned in my first post), I'll have a significant change in income, since I can include my family allowance on my application, and did not do so with my Sapphire application (I just wasn't thinking about it at the time). 

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applying for a couple of cards in a 30 day period has been common with a lot of posters here so i think you have nothing to worry about. Some have even applied for 3 but personally i like to stay at 2 apps in 30 day. If you want a shot at a better limit then wait until you can update your new income on your apps.

[Anonymous]

Here's another question. If I was declined for the Sapphire recently as well as the Capital One Venture Rewards (both due to the income issue), but I was approved for a Bank of America Travel Rewards Card (with the new income)- how big of a hit is my FICO score going to take (currently at 770)? I ask, because I was wondering if I would be better off applying for the IHG now in the event I am declined, so I have time to build my credit back up, rather than wait a month, applying and possibly get declined, meaning I would have to wait even longer to apply for another credit card should I wish to do so. Since I'm relatively new to the whole credit card came, I'm just wondering how many points these inquiries are going to cost me. 

[CreditCuriosity]

Depends on profile, but 2-5 points typically per inquiry.   Inquiries are completly overrated IMO.  It makes a difference for some stuff, but not a ton and after a year it doesn't ding you at all anymore and 2 years they are gone completly.

[Anonymous]

UPDATE: I was just approved with a CL of $7,000 which is a little surprising! Thanks for all the help! 

[CreditCuriosity]

Congrats... Now why they wouldn't approve you for the CSP with a 5k CL is kinda a mystery...  Guess there is a income requirement for that card.. Granted at 25k you would be do yourself a disfavor applying for the CSP to be honset.  Maybe they are saving people from themselves with the income requirement.

[Anonymous]

I'm guessing it was due to income as well. I think the IHG wil be a good card to use for traveling, and will be good way to build credit with Chase before appying for another card down the road. 

[taxi818]

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@CreditCuriousity wrote:

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@Anonymous wrote:

These are some of the options I've been looking at:

-Chase Marriot Rewards Premier

-Choice Privileges Visa Signature 

-Club Carlson Premier Rewards Visa Signature 

-Wyndham Rewards Visa Signature 

-Chase IGH 

Out of these is there a card that has a minimum CL of around $3,000 or so? I know, given my income, that I probably woun't be qualifying for a card with a minimum CL of $5,000. 

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Chase Marriot is a 5k Min as it is a VS..  You might be able to obtain that wtih your income, not sure if it is as strict as the CSP, but I assume it is as they both have an AF and both are Signature of at least 5k, so cross that off the list until income increases if they just denied you recently for the CSP due the same reasons.  Club Carlson will be a no go as well as it is a visa signature and makes the CSP look like childs play w/regards to UW criteria.

The Choice/Wyndham and IHG are all within your reach, but can't gurantee a 3k CL on any of those, although you have the best change with the IHG and think that is the best bang for you, but you gotta make that decision

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I agree with this. But if its travel you are looking for with that income. The Capital one Venture Would get you a mega Limit with that score regardless of your income. Plus you can use for airlines and hotels. regardless of where you stay. this is best option for you until your income improves.

[Anonymous]

I applied for the Capital One Venture and was declined yesterday, though when I applied, I used an income that did not include my family allowance (which would nearly double my income). That being said, I would imagine that in retrospect, I probably would have been better off applying for the VentureOne Rewards instead of the Venture. Given that I now have a Discover It, Bank of America Travel Rewards, and the IHG, how many cards is too many? Being that I will be traveling alot post college graduation, I want to maximize my reward potential, but how many is too many? and given that I was already declined for the Venture, would I even be accepted for the VentureOne? 

[taxi818]

Sorry. Hard to believe declined with 775 fico. There is no number as too many. No cap if you can use it and repay it. Then no number. I have 27 cards and use then all. On rotation of course.

[Anonymous]

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@taxi818 wrote:
Sorry. Hard to believe declined with 775 fico. There is no number as too many. No cap if you can use it and repay it. Then no number. I have 27 cards and use then all. On rotation of course.

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Does Cap One have a waiting period to reapply?