Need help planning next app spree [NFCU/Chase] (long post)

[Anonymous]

Hello all! Been awhile since I've looked into credit cards so I'm a bit rusty and don't know what all has changed. That being said, its been almost a full since since my last application so please don't go too rough on me.

I'd like to do one small app spree before I start saving for a house and it's my understanding mortgages look at your last two years on your credit report but the last year is more important (please correct me if I'm mistaken). Seeing as how I'm 12+ months away from applying, I figured I'd try to sneak in under the radar with one last application. Below are my "stats":

• Credit score: All 3 over 800
• Inquiries
  • Last 6 months: 0
  • Last 12 months: 0
  • Last 24 months: 4
• New Accounts:
  • Last 6 months: 0
  • Last 12 months: 0
  • Last 24 months: 2 (3 if you add my Corporate card that doesn't show up on my personal report for whatever reason)
• Total Credit: 36k
• Total number of CCs: 3
• Total accounts: 5 (3 CCs, 1 auto loan, 1 closed in good standing student load)
• No negative marks on my account
• Utilization: 1% (will likely go a tad next month)
• AAoA: 4.9 years according to CCT
• Oldest account: 9.9 years according to CCT

As for the banks and credit cards I'm looking in to: First, I'm looking to join NFCU to build a history with them. Not sure who has better mortgages but I'd like to keep my options open. Also not sure if it helps to have a credit card with them if I'm looking at possibly getting a mortgage with them down the line.

Next is Chase who will be a little tricky to deal with. I'm assuming they still have their 5/24 rule and the only Chase card I have is the Freedom. I'd love to get the Ink+ but I'm not sure what my odds are for that. If I can't get the Ink, then I'd look to the CSP (I have a side business but I haven't made income from that in some time...think "at home eBay seller" type business). 

Last thing I'm possibly looking into getting is another flat rate cash back card. Last year I would have said NFCU cashRewards card for the 1.5% and building history with NFCU but now that the Freedom Unlimited came out, that's on the table as well. Citi Double Cash card is likely my least desired card since I can't transfer that over to my Prestige.

I'm looking to do this spree sometime in August to help iron out some of the kinks. So what should I do? Apply for NFCU first, then try Chase? Does NFCU combine hard pulls (I think I read that they keep new member pulls and their products separate)? Should I try for the Ink+ or skip it for the CSP?

Lots of questions I know but I truly appreciate the knowledge you guys have provided in the past. Hopefully this [long] post gives enough background but happy to respond where need be. Thanks guys!

TL;DR: Looking to join NFCU, get a Chase rewards transfer card (Ink+ or CSP) and possibly a 1.5% cash back card from either NFCU or Chase....all before going back in the garden to save for a house.

[Anonymous]

For the CSP vs Ink+ question.. You should see where your spend would best earn points on either card. For the CSP, you get 2x on Travel (airline, hotels, taxis, and parking meters. Not gas though) and Dining, 1x on everything else. With the Ink + you get 5x on cellular phone, landline, internet and cable TV services, 2x on gas and hotels, and 1x on everything else.  So take a look at the categories and see which fits best for you. 

As for Chase, you should try for those cards first due to the 5/24 rule. Though you are under that so you should be fine. Check the biz section here to see other data points for Ink approvals. You'd be surprised at the approvals for the Ink. 

http://ficoforums.myfico.com/t5/Business-Credit/bd-p/businesscredit

[Anonymous]

Whatever you decide on, do Chase first because of the 5/24 rule.  That way, there isn't any hindrance in getting the cards you want.  The Ink card is a very good card.  I have both and they don't report to the credit bureaus.

Chase relies heavily on their internal scores so if you currently have a chase card or even a co-branded one, you should be able to get your desired cards.  All the best!

[Anonymous]

In my experience, if your scores and overall profile are good-to-great, and you are definitely below 5 new credit cards opened within the last 24 months, you should have no problem getting either Ink card, Sapphire Preferred, etc

However, bear in mind that they will only allow you to open 2 cards within a 30 day timeframe, so you would need to space things out if you want more than that (bearing in mind 5/24).

As others have mentioned, definitely apply for Chase cards before moving on to any other lender.

[Anonymous]

Thanks guys! Looks like it's Ink/CSP first, then the rest can fall in suit. Now what to do with this Prestige card...

[Anonymous]

---

@Anonymous wrote:

Thanks guys! Looks like it's Ink/CSP first, then the rest can fall in suit. Now what to do with this Prestige card...

---

Good luck with the apps! If you go for both the Chase cards, I'd space them out a couple of days or maybe a month. I know I recently app'ed for both the CSP and Ink+. I waited just over a month between the two and was approved for both, instant with CSP and a couple days wait for the Ink+.

As for the Citi Prestige card, you might want to downgrade to another product. The Prestige is loosing some of it's benefits next year.

http://ficoforums.myfico.com/t5/Credit-Cards/Citi-Prestige-Admirals-Club-Access-Being-Eliminated-After-July/td-p/4684980

[Anonymous]

---

@Anonymous wrote:

---

@Anonymous wrote:

Thanks guys! Looks like it's Ink/CSP first, then the rest can fall in suit. Now what to do with this Prestige card...

---

Good luck with the apps! If you go for both the Chase cards, I'd space them out a couple of days or maybe a month. I know I recently app'ed for both the CSP and Ink+. I waited just over a month between the two and was approved for both, instant with CSP and a couple days wait for the Ink+.

As for the Citi Prestige card, you might want to downgrade to another product. The Prestige is loosing some of it's benefits next year.

http://ficoforums.myfico.com/t5/Credit-Cards/Citi-Prestige-Admirals-Club-Access-Being-Eliminated-After-July/td-p/4684980

---

Thanks! I'm thinking about the Ink+ in a week or so, then shoot for Freedom Unlimited if all goes well. In all honesty, NFCU can wait 6 months if need be, but it would be nice to have all those hard pulls fall off at once.

As for the Prestige...yeah, I've been reading up on the upcoming nerfs . My annual fee is due next month, so I'll pay it and try to capitalize on the benefits this next year (sadly I haven't really used it except for the $250 airline credit). If all of those nerfs are true, it may be hard to keep the card after next year.

[Anonymous]

Good advice on the Chase apps. Good luck with your choices. NFCU definitely a good one, too!

[Vegas4Play]

---

@Anonymous wrote:

Whatever you decide on, do Chase first because of the 5/24 rule.  That way, there isn't any hindrance in getting the cards you want.  The Ink card is a very good card.  I have both and they don't report to the credit bureaus.

Chase relies heavily on their internal scores so if you currently have a chase card or even a co-branded one, you should be able to get your desired cards.  All the best!

---

+1