Help with app spree

[Anonymous]

Hi guys my cousin wanted to apply for credit card and i told him to wait
He wants to get chase united and citi costco
His scores are 760 acroos 3 bureaus almost same no inquiry in 2 year
He have discover 6k
Chase FU 6k
Chase CSP 25k
Capital one QS 3k
I wanted to help him for app spree and
I was thinking to increase his credit limits first
I know chase will do hard pull so i told him not to do it and i read a lot of topics that if you apply credit card after tou apply chase they can shutdown your credit cards
Is it better to apply costco first get approved and apply chase or other way around
Any help appreciated
And also if he apply for 2 credit cards can he apply for couplw more in 3 month? He joined Navy couple weeks ago to
Any suggestions will be appreciated
Thank you

[Brian_Earl_Spilner]

Don't do it. Both don't like apps close to one another. Pick one and wait 6 months for the other.

[VanderSnoot]

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[EDIT: inserted information from below.]

Brian is correct. Do not app spree. It's a bad idea. Spread the apps out by several months. Six months is a sustainable rate for applications, ensuring you never go over 4/24. You can apply more frequently, but then you need to garden longer to even out the applications.

You said your cousin has no inquiries in 2 years, so I'm guessing that means no new accounts in 2 years as well. This means he is under Chase's 5/24 Rule.

From what I've read on MF, here's how to handle these applications. I am a novice, so trust other people here over me. But I wanted to start you off with a framework so that you don't make my mistakes, and to help me solidify my learnings.

1. Discover has a request credit limit increase link. Try it.

2. Capital One also has a request credit limit increase link. Try it.

3. Cool your jets. You may need to request a recon or call in for a double pull. I'll let more experienced CLIers weigh in here.

4. Call Chase. I've had good experiences with their phone reps.Tell them what you want to do: request credit limit increases for the CFU and CSP, and also apply for the United card. Ask them how to do it and how many hard pulls it will take. [EDIT: be judicious. The United card will be a HP, you don't want to waste HPs on the CLIs. I'd allow two HPs maximum. You may also be able to reallocate limits across cards to match projected spending. Ask the rep.]

5. Wait at least 3-4 months, but 6 months is better.

6. Apply for the Citi card sometime between October and December.

7. Stop. Your cousin is done until next summer. At this point you will have 3 HPs in 6 months and you're close to going over 5/24. Wait for these inquiries and new accounts to age.

8. Next June, your cousin can apply for one NFCU card (good choice! I recommend the CLOC as well). Now he's at 4/24 and should wait until June 2021 to apply for a new card.

[EDIT: Finally, make sure your cousin has done his research on cards. There's some doubling up here that may or may not make sense depending on spend. He seems a bit opportunistic and without any overarching goal other than "more."]

OK MF, what did I miss?

[Anonymous]

That’s a mic-drop right there VanderSnoot. Only clarification I’d add is that since Chase wants a HP for pretty much anything beyond answering the phone, when you ask them about the CLIs, decide whether you’d rather take HPs for the CLIs or for a new card. As was mentioned above, pick the Chase or Citi card and app for it, and wait on the other. I wouldn’t take HPs for CLIs from Chase, and then another one for a new card. If you’re going for the Citi card now, then maybe the CLI pulls are ok. I’d just have a hard time stomaching 3 pulls from one lender all at once.

I’m not a Chase customer but my reading here makes me think that each transaction you do with them will need its own pull and I’m not sure how much of it will bear fruit when seeking more credit from Chase in 3 separate ways all at once. I’d go for Citi if you do the CLI request(s) with Chase.

[Remedios]

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@Anonymous wrote:
Hi guys my cousin wanted to apply for credit card and i told him to wait
He wants to get chase united and citi costco
His scores are 760 acroos 3 bureaus almost same no inquiry in 2 year
He have discover 6k
Chase FU 6k
Chase CSP 25k
Capital one QS 3k
I wanted to help him for app spree and
I was thinking to increase his credit limits first
I know chase will do hard pull so i told him not to do it and i read a lot of topics that if you apply credit card after tou apply chase they can shutdown your credit cards
Is it better to apply costco first get approved and apply chase or other way around
Any help appreciated
And also if he apply for 2 credit cards can he apply for couplw more in 3 month? He joined Navy couple weeks ago to
Any suggestions will be appreciated
Thank you

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If he truly had absolutely no applications or new accounts in the last two years, I dont feel like two cards is a spree, providing he cools down after that.

Seeing how you're already planning future apps (plural) after a few months, I dont think that's the case here. You're looking at 4 cards in three months, that's a bit too much. His file, while not exactly "thin" , would double in short period of time. That means 50% of his accounts would be considered "new".  I would not do that. 

Pick a card or two, then garden for minimum of 6 months. Depending on where your cousin lives, there will probably be overlap in HPs, either on EX, EQ or both. That makes order almost irrelevant as Chase will perform SP at some point if he's approved. 

Looks like he has nice profile. Dont spree and dont mess it up now. 

[AverageJoesCredit]

2 cards isnt the end of the world. With his profile, under 5/24, he should be good. If he wants Navy, pick Navy or Citi then do the other in 6 months.

[Anonymous]

Thank you everybody i will tel him to think only 2 cards to apply and never do anything his shopping a lot in costco so i told him tk get that so he will get better rewards
His using United airlines a lot for traveling thats why he wants to get it but i think costco will give him more rewards then united