First Prime Prequals!!!

[KevinsGirl6988]

I just want to say thank you to everyone who has contributed to these forums... y’all have helped me out so much this past year. This is my first post/question. I’ve been able to find information about everything else just from reading all the Q&A from everyone else... for a lurker like me, it was Heaven!

So, I’m finally prequalified for actual good credit cards! Just need a little advice...

Details first: EX 696, TU 722, EQ 700... I am an AU on my husband’s secures USAA MC, $300 CL (we aren’t funneling anymore money into it since it will not graduate... EVER); I am an AU on my husband’s Cap1 Journey, $500 CL; I have my own Cap1 QS1, $300 CL (I will be having the 5th month CL increase in two months... I was an hour late making my payment, so they considered it late, and bumped me back 3 months); Fingerhut, $400 CL; and Overstock Store Card, $250 CL; we also have an auto loan with USAA, with about $5,600 left on it... I have no collections, and between 3-6 inquiries for the different CRAs... my oldest account is the secured MC from USAA, at a year, and my AAoA is 7 months.

My husband is a member of NavyFed, and I have an application pending... I will be apping for their CashReward MC as soon as I am accepted. He has not applied, yet, but will be very soon, and I will be an AU on his.

My questions!!! I am prequalified for Discover It Cash Reward and Discover It Chrome, as well as Chase Sapphire, Freedom Unlimited, and Freedom... I would not mind apping for another Cap1 card, like the regular QS, or even PCing from my QS1. Which ones should I get, and in which order should I do these in?

Thank you for any, and all advice!!!

[Anonymous]

Hi OP! First of, congratulations on your ongoing build! It's nice to finally get pre-quals isn't it? Those are pretty good offers, just things to consider would be:

- Chase  5/24 If you are interested in getting in with them, i'd make sure that you are under that threshold. Also, make sure that the variable APR showing is not a range but a fixed rate. I'd apply with Chase first, if any of their products work for you and your type of spending, again, this is to ensure that you are not going beyond the 5/24 rule. Regardless if you are pre-qualified or not, they will decline your application if you're over that threshold. Either of the three offers are great, except for, if you haven't had any history with Chase prior to this application, it would be best to start out with the CFU or CF and build some history with either of those cards first before going for their Sapphire cards.

- I would upgrade the QS1 to the regular QS so you are not paying any AF

- Discover IT is a good card for the first year because of the CB match, but after the first year, it becomes a little bit luckluster. I love them for BT offers and during December months when they have AMAZON on their 5% calendar. 

Speaking for myself, I usually like to space out applications since scores will likely take some hits specially if you are acquiring two or more cards. But that's just me. If you are heading to the garden after a spree then that totally works out too. 

Again, congratulations to you, and whichever card you decide to apply with, I wish you the best.

[pinkandgrey]

Congrats!! Go for the Chase first, and then get one more. Careful not to app for too many cards after the Chase. Chase watches your activity like a hawk lol. I’d go for the Disco It. Those things and awesome starter cards but they grow with you. You’ll have it forever. 

[KevinsGirl6988]

Thank you for the advice! I got my congrats email, from NavyFed, today, so I went ahead and called them up and got my information from them. While they were on the phone, I app’d for the CashRewards MC. They pulled my TU, and was approved for a $500 CL! Yay! It might not be huge, but I am grateful, nonetheless.

I did go ahead and app for the Discover It CashBack, but even with the prequal, I was denied... I went ahead and put in an app for the Chase Freedom, so I could have, at least, one card with the 5% categories, but again, even with the prequal, was denied. My husband and I do have a checking account with them, and have for over 10 years, so I don’t understand why the prequal, then denial.

I would prefer to have the 10%, from Disco, for a year, but it is what it is. I will be happy with what I got, on this spree, and get lost in the garden for a good 6 months (with a little break around the 3 month mark for the 91/3 CLI with NavyFed)...

[Anonymous]

I say call the recon lines for both Discover and Chase. People get denials overturned all the time. It's worth a shot.

[KevinsGirl6988]

What are the numbers for those?

[Anonymous]

They're in the back door numbers thread. Unfortunately, I don't have the numbers off hand; you would have to search for it.

[KevinsGirl6988]

I was mistaken about the denial for Chase Freedom... I received an email that said:


We have received your request for a Chase credit card. We'll let you know our decision as soon as possible.

Thank you for choosing Chase.

So, it’s not an instant denial, nor is it an instant approval. There’s not a time limit, either... so, I will just be patient, I guess.

[Anonymous]

DW got same msg when app'd for Chase freedom still haven't heard anything either.

[ZackAttack]

---

@KevinsGirl6988 wrote:
I was mistaken about the denial for Chase Freedom... I received an email that said:


We have received your request for a Chase credit card. We'll let you know our decision as soon as possible.

Thank you for choosing Chase.

So, it’s not an instant denial, nor is it an instant approval. There’s not a time limit, either... so, I will just be patient, I guess.

---

You can always call up to see if you can give more information then what you've put down in the application form while you are waiting.