Chase Sapphire Preferred - Should I Wait?

[smile90000]

I have a Uber/Lyft monthly bill of $600-800. No judgement. lol.  I had surgery and until I am cleared to drive (which could be several months to another year), so I have to take them.

Today I was approved for the Savor One ($15,000 limit) which will allow me get 10x back for Uber rides. I was thinking about applying for Chase Preferred to get 5x off of Lyft but wasn't sure if I should space the applications out.

Here is my info:

Scores: (these have jumped up 46 points in 8 months):

Equifax 799

Transunion: 786

Experian: 790

Cards,

Affinity Credit Card Limit: 16,000, Balance: 4500 (this is a 1.99 % until I pay it off...yes, it was special they ran two years ago and it sits at 1.99)

Citi Double Cash: Limit: 34,000, Balance: 0

Citi Simplicity: Limit: 20,000, Balance 2500  (this is at 1% until March of 2024). I will pay this off later this year

And as of today Savor One: Limit: 15,000, Balance 0

I've been taking Lyft and Uber for the past 2 years (I cry about the cashback I lost. lol). But not sure if I should wait 3 months or so before I apply for Chase Preferred.

My oldest account is 27. My average is 12. 

I'm not that familiar with how Chase does things. Should I apply now or wait a few months?  Thx

[SouthJamaica]

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@smile90000 wrote:

I have a Uber/Lyft monthly bill of $600-800. No judgement. lol.  I had surgery and until I am cleared to drive (which could be several months to another year), so I have to take them.

Today I was approved for the Savor One ($15,000 limit) which will allow me get 10x back for Uber rides. I was thinking about applying for Chase Preferred to get 10x off of Lyft but wasn't sure if I should space the applications out.

Here is my info:

Scores: (these have jumped up 46 points in 8 months):

Equifax 799

Transunion: 786

Experian: 790

Cards,

Affinity Credit Card Limit: 16,000, Balance: 4500 (this is a 1.99 % until I pay it off...yes, it was special they ran two years ago and it sits at 1.99)

Citi Double Cash: Limit: 34,000, Balance: 0

Citi Simplicity: Limit: 20,000, Balance 2500  (this is at 1% until March of 2024). I will pay this off later this year

And as of today Savor One: Limit: 15,000, Balance 0

I've been taking Lyft and Uber for the past 2 years (I cry about the cashback I lost. lol). But not sure if I should wait 3 months or so before I apply for Chase Preferred.

My oldest account is 27. My average is 12. 

I'm not that familiar with how Chase does things. Should I apply now or wait a few months?  Thx

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With your scores I would definitely go for it.

[CreditCuriosity]

If you are under 5/24 .. meaning less than 5 cards in the last two years I would say you have a very good shot at getting the CSP or CSR or any other chase card for that matter.  Scores are fine, etc.. Utilizaiton is 25-30% on a few cards, but won't scare chase

[mgood]

First time I applied for a Chase card, it was right after I'd been approved for the Discover. I'm convinced that's the reason they denied me. But my scores were about 100 points lower than yours.

[WasteMgmt]

I would definitely go for it right now. Well under the 5/24 and you can definitely use the bonuses. You'll also get DashPass benefits with the CSP.

[Citylights18]

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@WasteMgmt wrote:

I would definitely go for it right now. Well under the 5/24 and you can definitely use the bonuses. You'll also get DashPass benefits with the CSP.

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Yeah Dash Pass has made it hard for me to want to move away from the CSP.

The bonus for the CSP is not at its historical maximum though. But if you've got the upcoming spend and the choice is an SUB or not its probably smarter to just get the card now.