Chase Marriott Rewards application?

[Anonymous]

I'm looking for advice as to when to apply for the Marriott Rewards card offered through Chase. 

I was approved for my first two CC's in February and denied for another a few days later due to insufficent credit history, so I was planning on waiting until September before adding another HP to my report. I also know that Chase can be much pickier than other banks about approvals. Also, I doubled my total avaliable credit today without an HP. Should I wait until my CLI hits my report to apply or wait until September? How much would it hurt my future chances to apply now and get denied?

Thank you

[Anonymous]

Welcome to the board.  How old is your credit file and how many new accounts have to opened since the got the Chase cards?

[Anonymous]

I only have the two CC, they are the USAA AmEX Rewards Plus and Capital One Journey. I opened them both on my 18th birthday at the end of February. The only other thing that shows up on my credit are two low limit store cards that I was an authorized buyer on from three years ago, but neither have a balance. 

And thank you for the welcome! 

[Anonymous]

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@Anonymous wrote:

I only have the two CC, they are the USAA AmEX Rewards Plus and Capital One Journey. I opened them both on my 18th birthday at the end of February. The only other thing that shows up on my credit are two low limit store cards that I was an authorized buyer on from three years ago, but neither have a balance. 

And thank you for the welcome! 

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Ok. What are the limits on the USAA and Capital One cards?

[Anonymous]

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@Anonymous wrote:

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@Anonymous wrote:

I only have the two CC, they are the USAA AmEX Rewards Plus and Capital One Journey. I opened them both on my 18th birthday at the end of February. The only other thing that shows up on my credit are two low limit store cards that I was an authorized buyer on from three years ago, but neither have a balance. 

And thank you for the welcome! 

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Ok. What are the limits on the USAA and Capital One cards?

Both started at $500, today Cap. One increased to $1500. Utilization is at 24% and I plan to keep paying it down. 

[Anonymous]

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@Anonymous wrote:

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@Anonymous wrote:

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@Anonymous wrote:

I only have the two CC, they are the USAA AmEX Rewards Plus and Capital One Journey. I opened them both on my 18th birthday at the end of February. The only other thing that shows up on my credit are two low limit store cards that I was an authorized buyer on from three years ago, but neither have a balance. 

And thank you for the welcome! 

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Ok. What are the limits on the USAA and Capital One cards?

Both started at $500, today Cap. One increased to $1500. Utilization is at 24% and I plan to keep paying it down. 

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Ok. Since you only received your own cards in February, give it a few more months before attempting Chase.  The marriot card credit limits starts at $5,000 if approved.  And Chase likes to see some experience with such limit or some high limits before approving you.

So be very strategic approaching Chase.  Just get your foot in the door by applying for a card like Slate or Freedom if either fits into your spending category.  Then once in [ Chase], use the new card for about 6 months to a year and then apply for the Marriot.

The reason why I said use the new card if approved for 6 months to a year is because Chase relies heavily on their internal scores.  So as you use the card responsibly, make payments etc. you are building it up.

[Anonymous]

Thank you. 

My reasoning for wanting the Marriott is because I only stay at their hotels, so it just makes sense for me. But that's not going to change in two years. 

I don't think this has much of a difference, but I have always held a Chase checking account and had a savings account with them for a few years. My only worry about your strategy is the 5/24 rule and the fact that I don't feel very strongly about any of the other Chase cards, besides the Amazon but I'm not sure if that even counts with chase. What is your opinion on opening another account when I don't have a use in mind for it other than to build my proflie? Which one would you suggest?

[Anonymous]

How long have you had your Chase checking and savings accounts?  Do you use it often?  I asked you earlier but what are your FICO scores?  Not credit karma..

[Anonymous]

I do not know my FICO scores, I get mine through USAA's credit monitoring service. 

I've had the checking account for six years, and I use it nearly every day. My direct deposits have always gone there, for two years now. I had a savings account for five years. 

[Anonymous]

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@Anonymous wrote:

I do not know my FICO scores, I get mine through USAA's credit monitoring service. 

I've had the checking account for six years, and I use it nearly every day. My direct deposits have always gone there, for two years now. I had a savings account for five years. 

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Knowing your FICOs is very important as that is what lenders use to approve you. Since you bank heavily with Chase, I suggest when you are ready to apply for your next card, go into the branch since you have limited credit history instead of applying over the phone / online.

When you do it in the branch and it goes to pending, the banker willl be able to call lending directly and recon on your behalf.