Newbie - Advice needed for 2nd and 3rd card

[Anonymous]

Try the chase prequalify website or the amex site.

[Anonymous]

AMEX prequal website gave me the green card, plus Delta and JetBlue miles cards. 

Chase prequal has (in the past) given me both Freedom and CSP. When I tried this morning said it "couldn't locate any offers." Uh oh.  

I've read that CSP will deny you if you don't have a high enough starting CL. I'm at 1,900. Should I do a CLI on my BoA card to try to get to 5,000? wait for it to post, then apply for the two?

[Anonymous]

So, BoA no longer offers pcs to the Better Balance Rewards card. Worth it to apply and keep BBR and Travel Rewards? 

[Anonymous]

Sorry for the delay in response I just got back from a trip.

How long are your hotel stays on average?  To me, your flights MORE than qualify you for needing a airline specific card. I just dont have much experience with getting folks approved with this short of history for the CSP/Freedom.

Your rent and utilities could be interesting. In times of intense need to hit a bonus spend you could pay the rent with Plastiq for a small fee. Your utilities hopefully dont charge you a % fee, and if thats the case ALWAYS pay them with a credit card.

I honestly am on the fence if your spend is high enough for a CSP.  The points are very flexible, can xfer to united. I dont think you spend enough on groceries to get a grocery specific card. What about gas?  Later on you could benefit from a sallie mae that would give u 5% back on $250/mo of gas/groceries PLUS 5% on up to 750/mo on amazon (which u said u wanted i think?)

What would be interesting, since chase is being very lenient with their co branded approvals... if you could 1. app for the CSP, get approved, then 2. app for the freedom, then 3, app for the united explorer.

Could you log into your united account and see if there are any offers? scan through your emails and see if they have sent you any promotional offers? there have been folks getting 50k miles after 2k spend as a targeted offer.

not to be debbie downer, but just say hypothetically, you had the above 3 cards. you wont have annual fees the first year. but next year is when things get sticky.  Even if you had the CSP and spent 1 grand a month on dining/travel with it, you would earn $480 in value, or $385 after annual fee.  You could always move the limit around or try to get a retention offer on the annual fee though.  But yeah, if this all worked out... you would get 55k UR points, 55k united points, all for 6.5k spend in 90 days.  You spend 5400 in 90 days...with christmas coming.... you would have to put an extra 366 a month on cards to hit the minimum.

The above points are 40k for csp signup, 5k for adding an authorized user, 10k from freedom bonus, 50k from united, plus 5k for adding authorized user.

I am almost thinking that for now, you might have better luck grabbing the barclay arrival plus and the sallie mae from 1 inquiry. Then app for the united card and a hotel card or freedom with chase.  You would only have to spend 3k in 90 days and get $400 towards whatever travel you want.

Man. I wish you had more history and all because yeah, you would be sitting perfect with CSP/Freedom/United.  Chase lets you combine pulls though. And its either 1 HP or 2 HPs (sometimes chase and citi pull a 2nd report). SO .... you could just say ok. I want the united. Check for the targeted offer.  App for sapphire, app for freedom. Get the CSP/freedom both approved (may have to call in).  You will 100% be approved for the united. Chase cobranded cards are being approved left and right for everyone right now, you just do not call in and recon any decisions and in a month you get the card.

We also do not want to make things super overwhelming or complicated. I just think the CSP might be a little out of your grasp until we see your scores/inquiries. If thats the case, then 100% grab the united and freedom and next year try adding the CSP.  I have seen a few folks here with borderline scores get the arrival plus.... but after its sign on bonus, aside from building a relationship with barclays, its no better than a double cash, yet has a $89 AF.

Do you have an iphone? Or could u easily switch to one? Reason I ask is, they have a 10% bonus that is doubled for new customers. Basically all of your spending thats not in a category will be doubled to 2%. But if you were able to tap and pay with your phone, that would be 10+1=11% now then in 12 months its doubled.  Discover is nice, but their starting limits are not that high. However they do CLI pretty freely lately. I use our discover all the time and its limit went from 4k to 17.8k in 3 months just from reading myfico.

I am not encouraging OP to churn here. There are needs explicitly stated, but why not take advantage of the inquiry, and also a potential bonus......Part of me is thinking you should just grab the united card from chase, and in 6 months to a year grab the freedom/csp together.

TLDR:

1. request CLI with current BOA card, and app for the BBR right away so the inquiries will merge into one.

2  app for CSP and Freedom, may have to get both approved on phone. Use those same 2 potential hard inquiries and apply for the united mileage plus explorer card. Dont phone in to get it approved. It will get approved on its own.

Worst case scenario... you have a travel rewards with a decent limit, a BBR earning you rewards effortlessly, and a mileage plus explorer with a decent bonus and perks since you fly with them so much. 

Lets get others chiming in before you pull the trigger.

[Anonymous]

How do I give kudos???? I want to give you all the kudos!

Hotel stays are short, usually a few days (business trips).  

I have a credit monitoring account with TransUnion report. Says I only have 1 credit inquiry (for an apartment). I have been trying to figure out an easy way to get my credit score without paying a lot.... which was part of the reason why Discover It, with FICO score included, was so appealing to me. BoA MAY be giving out FICO scores but it's unclear when. 

I don't have a car! So gas is out of the question. Amazon I do spend a decent amount on though. 

I get United MileagePlus Offers all the time. Most recently was 30,000 bonus points for $1k in 3 months. But $95 annual fee after year one. 

In theory I could spend 6.5K in 90 days. Put my rent on there, pay for all my friends' drinks (and they pay me in cash back!!). Might be tough. Will all this spending also affect my utilization, as it's unlikely for me to get above $10,000 CL total? 

Your suggestions, my comments in bold:

1. request CLI with current BOA card, and app for the BBR right away so the inquiries will merge into one. This I could definitely do. Do I keep Travel rewards open?

2  app for CSP and Freedom, may have to get both approved on phone. Use those same 2 potential hard inquiries and apply for the united mileage plus explorer card. Dont phone in to get it approved. It will get approved on its own. I'm just not sure I am the right candidate for CSP yet as I don't spend enough. Maybe just stick with Freedom and United Explorer for now, since I am getting United offers. Should I app these right around the same time I do BoA?

[SouthJamaica]

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@Anonymous wrote:

I’m a newbie to the credit card game, but I’ve been learning through the forums. Wondering if anyone can give me some advice.

Background info:

Spend $1K/month, always pay in full.

Live in city (so don’t have a car, I go out to eat frequently). Get groceries from CSA, everything else through Amazon or Costco

Work in international development, so will occasionally need to travel abroad/purchase plane tickets and be reimbursed

Bank with BoA so opened BoA secured card in August 2014, $400 limit. 9 months later they unsecured it and boosted my CL to $1,900. Always paid in full, kept my utilization low. Few weeks ago I did a pc to BoA Travel Rewards. Waiting to receive and thinking about requesting a CL increase. (Would this be a HP or SP?)

Now I want to open another card, but I’ve gathered from this forum that 3 is the optimal number for your FICO Score. Since I have a relatively thin credit file, I want to app for 2 at once since the HPs won’t hurt as much. (Are these correct assumptions?)

I want to apply for Discover It to use for rotating categories at 5%, and travel & everything else on BoA Travel rewards. But I don’t know what the 3rd card should be. I’ve thought about CapOne QS (preapproved) and Citi Double Cash but I don’t want to spread myself thin across rewards cards. I have FTF covered with Travel Rewards. I also want a high total CL, so that I can easily spend $1K a month (or up to $3K for work) without it hurting my utilization. Thinking $10,000 plus.

So: what card should I apply for that will give me a high credit limit, without annual fee that I can put in the SD? Should I wait until I increase my Travel Rewards CL and then apply?

Or, should I change my strategy? Any advice much appreciated!

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Sounds to me like you would do well with a Cap One Venture One card. No annual fee, has travel related rewards as well as cash back option, has larger than average credit limits, not too hard to get, has Visa Signature benefits.

[Anonymous]

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@Anonymous wrote:

How do I give kudos???? I want to give you all the kudos!

Hotel stays are short, usually a few days (business trips).  

I have a credit monitoring account with TransUnion report. Says I only have 1 credit inquiry (for an apartment). I have been trying to figure out an easy way to get my credit score without paying a lot.... which was part of the reason why Discover It, with FICO score included, was so appealing to me. BoA MAY be giving out FICO scores but it's unclear when. 

I don't have a car! So gas is out of the question. Amazon I do spend a decent amount on though. 

I get United MileagePlus Offers all the time. Most recently was 30,000 bonus points for $1k in 3 months. But $95 annual fee after year one. 

In theory I could spend 6.5K in 90 days. Put my rent on there, pay for all my friends' drinks (and they pay me in cash back!!). Might be tough. Will all this spending also affect my utilization, as it's unlikely for me to get above $10,000 CL total? 

Your suggestions, my comments in bold:

1. request CLI with current BOA card, and app for the BBR right away so the inquiries will merge into one. This I could definitely do. Do I keep Travel rewards open?

2  app for CSP and Freedom, may have to get both approved on phone. Use those same 2 potential hard inquiries and apply for the united mileage plus explorer card. Dont phone in to get it approved. It will get approved on its own. I'm just not sure I am the right candidate for CSP yet as I don't spend enough. Maybe just stick with Freedom and United Explorer for now, since I am getting United offers. Should I app these right around the same time I do BoA?

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*blush* thank you!

The travel rewards you would keep and attempt to product change fairly often to BBR...could prove difficult. The TR is not completely useless to you at 1.65% back with no AF.  You would just use your points for work travel and keep the difference from reimbursement.

So you are looking at two - three inqs here. You may very well get on the fast track to high limit with capital one. Just skip the cli with boa if you do, for now. But I see you as a responsible consumer with steady work (right?) and great future credit potential. There's only so much product growing you can do with capital one. They don't care about inquiries, hence save for last. I understand your concern with Amex,but you are a perfect fit for them. If I were you I'd skip cap1 for now unless you get denials. They are allegedly introducing a new product soon. A "Game Changer". Who knows what that means. If its a game changer for cap1, or a game changer in terms of how appealing the points structure/cash back is. After 6 months  grab a few cards with em if you want a solid credit line that won't get reduced from high util.  Your limits aren't big enough to make managing util an issue. And it will heal itself if you pay off.   Venture is only going to earn 2% and I think you could do better than that (depending on your scores). So as a last resort take triple pull an and grab a venture and a qs. Since you don't have a car, do you uber? 20% off on all uber with quicksilver until next April I believe. 

At the end of the day, you are sitting fine.  You arent going to get rich from these rewards. I would like to see you earning more than 1.65% in value back though. You have a card with enough of a limit to match your spending except for big plane tickets. The fact is BOA could offer you more credit limit increases automatically. I am not entirely sure how their auto CLIs work. I need to look into that. Thinking your limit would probably get raised up quickly on its own if you just used this travel rewards card for everything, thus saving you 1 hard inquiry.

TLDR (cuz I ramble):

1. Let the BOA TR grow on its own and app for Freedom/United now (1-2 inqs)

or

2. Request CLI on TR, app for BBR simultaneously and possibly leverage limit from the TR to get the BBR open.  Then grab the Freedom/United after CLI reports(2-4 inqs)

or

3. Stick with CSP/Freedom.  Use the two of them exclusively.  Evaluate in a year if its worth it.  In the interim hope for an auto CLI with TR.

or if all the above fail

4. App for Venture and Quicksilver now(3 inqs)

At least with the united your work would be paying your bill most of the time in essence. Plus you'd tack on 2 more miles per dollar spent in addition to all the miles you earn from flying.  Then you will get to fly for free more often! To me, a card that is going to get used 7 times a year, for stuff like that...no brainer!

-What is your APR on your TR?

-Also dont forget about discover, you did initially mention them! Do you have an iphone or ability to get one?  

-If you are concerned with utilization right now try to pay your card off before the statement cut date, not the due date.

I think u should buy the 29 a month membership here through ebates and that way u save a few bones. Otherwise its a total guessing game until you get a denial/approval letter with a score printed on it.  FAKO scores from CK can be 100 points off.

[Anonymous]

My APR on BOA is 20.44%. Not great. I do have an iPhone, and I would use Discover categories more than Freedom. But I like the Freedom because of the potential with CSP. Do points on Freedom rollover? Say I apply for CSP in a year or two, could I move the points over then?

What would be the difference between getting CSP and the United card since have same annual fee? United would be exclusively for racking up miles, and CSP would be general travel, so I could also use those points at hotels? Would United give me a higher CL and demand lower spend?

I am leaning towards Option 2. Is BBR difficult to get? Say I have TR, BBR, Freedom/Discover and United. What would the strategy be? Business/Travel on United, rotating categories on Freedom (to build up to a CSP) or Discover (if United has travel stuff covered), everything else on BBR, 1 transaction on TR.

Or to keep it simple: TR, BBR, and Freedom. Use TR for travel/business, Freedom for rotating categories and build up to CSP, and BBR for everything else. Then apply for CSP in a year or two if my spending has increased.

I’m confused by utilization. Is that based off the balance that is posted? So if you pay it off before the statement posts, it looks like you have $0. But wouldn’t this look like you don’t use the card at all?  

Why am I a perfect fit for AMEX? Which card would be good? BCE doesn’t seem great for me because I don’t spend a lot on gas. Everyday MR points just confuse me!

[Anonymous]

Also, got locked out of my other account. Too many passwords to keep track of!!! 

[Anonymous]

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@Anonymous wrote:

My APR on BOA is 20.44%. Not great. But not their worst. :-) I do have an iPhone, and I would use Discover categories more than Freedom. But I like the Freedom because of the potential with CSP. Do points on Freedom rollover? Ultimate Rewards points do not expire as long as your account is open. Say I apply for CSP in a year or two, could I move the points over then?

What would be the difference between getting CSP and the United card since have same annual fee? United would be exclusively for racking up miles, and CSP would be general travel, so I could also use those points at hotels? Would United give me a higher CL and demand lower spend? United will give you extra perks with your specific airline, priority boarding, extra miles per dollar spent, etc.  

I am leaning towards Option 2. Is BBR difficult to get? Depends.  We still don't know what your scores are. Say I have TR, BBR, Freedom/Discover and United. What would the strategy be? Business/Travel on United (yes, so that you earn extra miles for tickets bought by your job, then you can end up using miles to fly on your own for leisure, or use miles to buy tickets for work, then buy a refundable ticket and get a refund to show your work the receipt for reimbursement.  How much do you fly on your own? Do you still stick with united?  You would have the advantage of partner flexibility with something like the CSP, and completely avoid United altogether), rotating categories on Freedom (to build up to a CSP) or Discover (if United has travel stuff covered), everything else on BBR, 1 transaction on TR.

Or to keep it simple: TR, BBR, and Freedom. Use TR for travel/business, Freedom for rotating categories and build up to CSP, and BBR for everything else. Then apply for CSP in a year or two if my spending has increased.

I’m confused by utilization. Is that based off the balance that is posted? So if you pay it off before the statement posts, it looks like you have $0. But wouldn’t this look like you don’t use the card at all?  Utilization is based on the balance reported at statement cut date.  You would ideally want a small balance of $2 or more reporting to one card every month. Pay the rest off in full before statement cut date, not due date, if you want to really micromanage utilization. It heals itself very quickly. But since you have so few accounts, it would be more important now to manage until you add more limits/cards.

Why am I a perfect fit for AMEX? Which card would be good? BCE doesn’t seem great for me because I don’t spend a lot on gas. Everyday MR points just confuse me! (You are a perfect fit for amex because of your thin clean credit file. That is what they like. MR points are good if you fly with delta or delta partners, but you can look at their list of transfers. Also since you have so few limits, a charge card would help for your utilization as whatever amount reports does not count against your fico 08s, the scores most creditors use for card approvals and CLI's. Must be paid in full every month.)

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link for MR transfers: https://rewards.americanexpress.com/myca/loyalty/us/catalog/mrhome.do?tier=LF&mrk=&stoken=

Just realize the amount of spending is going to need to be fairly significant with CSP/Freedom once the CSP AF hits.  Still no reason for you not to try the card out and take the bonus and see how well it works. If you were serious about the CSP, you would probably be best running all the travel spend through that instead of united, in the long run.

I wish we had your full scores and such. Keep checking for prequals.  For simpicity reasons alone, I think CSP/Freedom work GREAT together.  But having double cash back with discover, especially because you have an iphone 6 or newer (i hope?).... hard to top those rewards!

Amex you wont be able to use post april 2016 at costco most likely.

And you would still be able to earn flier miles with united program (not card), and top them off from the CSP too. (same earning rate as they transfer from UR 1:1 to united)

Lets get your scores so we can just try to get you in with CSP/Freedom sooner rather than later! Your work reimburses you anyway so the free checked bag is a no biggie technically. And you only get 2 lounge passes a year, which I'm sure your work would reimburse for that too.

You really need to pick either cash back, or points until your spending goes up. So maybe united/freedom (CSP later) and discover now too.  Or CSP/Freedom now.