Newbie - Advice needed for 2nd and 3rd card

[Anonymous]

Alright, starting to understand AMEX perks. Thanks for the link! I think that I will have no problem paying in full before the due date, so charge card isn't necessary for my utilization at this stage. But if I get any interesting prequals in the mail, I'll consider them!

Just checked the Chase prequalify website and I qualify for Freedom, CSP, and Slate! If the website a good indicator? 

I may just bite the bullet and pay for myFICO for a month so I can see where I am starting from and how my inquiries affect my credit score. Would be a good learning experience! Will report back. 

[Anonymous]

If I sign up with myFICO 3B ultimate, will I get to see my scores automatically? Or should I do the instant? Do I really need to see all three scores? 

[Anonymous]

---

@Anonymous wrote:

If I sign up with myFICO 3B ultimate, will I get to see my scores automatically? Or should I do the instant? Do I really need to see all three scores? 

---

Awesome news on the triple prequal! They are pretty solid! There should be a terms link you can click on to see the APR. The CSP is always the same I think at the beginning but the freedom varies.

i would get the $24.99 a month one through ebates. You will get a triple report, and all three scores, plus monitoring of scores. Your actual reports wont change for a year, but your alerts fill in the gaps. The 29.99 one is better if u plan on keeping the plan to get full reports more often.

If you go to ebates then click myfico you will get $10 ebates gift card, then $5 cash back to sweeten the deal.  I am thinking your scores are probably mid 700's. and you will get a good approval for CSP and freedom instantly... and then maybe in a few weeks the united card will come if you also grab that.

[Anonymous]

Thanks for the play by play. 

My scores are as follows:

EQ: 768 TU:767 EX: 770

These seem pretty good, no? (I have no idea what I did to get them, so don't want to mess it up! haha!) 

[Anonymous]

---

@Anonymous wrote:

Thanks for the play by play. 

My scores are as follows:

EQ: 768 TU:767 EX: 770

These seem pretty good, no? (I have no idea what I did to get them, so don't want to mess it up! haha!) 

---

WOOPWOOP! Just did happy dance that the annoying grownup in Problem Child does before he gets sick. LOL.

So.... yeah. You are golden!

If ya want travel flexibility for personal stuff, Id do the CSP/Freedom combo and thats it. (some folks have grabbed the slate simultaeneously then moved all of its limit to the freedom).

Otherwise I would do Freedom/United. Obviously use freedom for categories only, gen spend on the TR, unless u want to hoard chase UR for a potential CSP in the future.

And figure out if you have the time to take the HP at BOA for another CLI (while also apping for a BBR), wait a few weeks for it to report, then app for everything. (I would do this if I were you as having a higher CL seemed important to you)

I would also ideally want your BBR to only be used for little stuff, like netflix every month. That way you will have extra padding for your amount of credit, but still earn rewards. Your TR really wont be getting much use if you fully commit to rewards. Reason being Chase UR are worth on average 2 cents a point because of their flexibility...and even with the CSP for general spend you would be getting a higher rate of return than just the straight cash back of the BOA TR.

If it were me, I would double check exactly how many places you shop at would even take apple pay. This could come in handy for christmas shopping. And it isnt just at apple play specific places, folks have had luck at Tap&Pay type places. I would brush up on the thread.

If I were you, I would try for an APR reduction on the TR, then use the hp for a CLI on the TR, while also apping for a BBR.  I am not sure what the process is for BOA, if you should just ask for 15k and let them counter, see what other folks say. Then let that report to your bureaus. As soon as the higher limits are there, then make your decision!  But yeah, based on your scores, I bet Amex would start you off at above 5k easily.  

I envision your potential limits: TR at 6-8k+, a BBR at 2k, a CSP at 5K+, a Freedom at 5k+, and a united at 5k+.

Your scores will go down after you take a few HPs but they will go up. And adding all the new tradelines will really help too, and also reduce util. I see you hitting 800 very very soon.

Just remember u spend 1k a month..fine and dandy...but I have a feeling that amount would average out to a lot more if you included all the work traveling...which would probably justify the CSP.

[Anonymous]

I did a happy dance too! Don't know the reference considering the movie came out the year I was born but I guess I'll have to watch it now! lol

I have some time before I really want the Chase cards, so I think I'll go with your suggestion of: 

Cards: Receive TR card. Request CLI ($10-15K), request lower APR, same day app for BBR. Wait until statement posts then app for Freedom and CSP same day. I like the flexibilty of CSP, plus I can potentially add an authorized user on the account to a) get the additional points and b) boost my spending to make the annual fee next year worth it! 

Spending strategy: Put one or two bills on TR and BBR a month (and travel on TR until I get Freedom/CSP). Then travel on CSP, rotating and everything else pretty much on Freedom for all those UR points! 

I'll re-evaluate along the way if I gets declined for anything. But I think this is a great strategy to start out with

Any suggestions in the meantime for spend on current BoA card that will set me up to app for Freedom/CSP? Should I pay down my balance before my statement is posted or let a little go through?

Anyway, thanks jfriend33 for taking the time to help my narrow down my choices and get a good strategy in place. I feel prepared to enter the big bad world of credit cards and get the most out of it, responsibility! Really really appreciate it. 

[Anonymous]

---

@Anonymous wrote:

I did a happy dance too! Don't know the reference considering the movie came out the year I was born but I guess I'll have to watch it now! lol

I have some time before I really want the Chase cards, so I think I'll go with your suggestion of: 

Cards: Receive TR card. Request CLI ($10-15K), request lower APR, same day app for BBR. Wait until statement posts then app for Freedom and CSP same day. I like the flexibilty of CSP, plus I can potentially add an authorized user on the account to a) get the additional points and b) boost my spending to make the annual fee next year worth it! 

Spending strategy: Put one or two bills on TR and BBR a month (and travel on TR until I get Freedom/CSP). Then travel on CSP, rotating and everything else pretty much on Freedom for all those UR points! 

I'll re-evaluate along the way if I gets declined for anything. But I think this is a great strategy to start out with

Any suggestions in the meantime for spend on current BoA card that will set me up to app for Freedom/CSP? Should I pay down my balance before my statement is posted or let a little go through?

Anyway, thanks jfriend33 for taking the time to help my narrow down my choices and get a good strategy in place. I feel prepared to enter the big bad world of credit cards and get the most out of it, responsibility! Really really appreciate it. 

---

I like your plan!  As far as spend strategy try to avoid cash and debit cards like the plague. You will get unlimited 1.65% back on the TR just have to redeem for travel purchase which you wont have a hard time doing.  Not sure how much your balance is. If its currently charging you 2x% apr then I would pay it all down before the next statement cut date until theres $5 left.

And remember with the CSP.  Except for once in a blue moon, carrying a big balance on the CSP past the due date is not a wise idea. The interest you will pay on these charges will negate the rewards fairly quickly. CSP is basically a 2-4%+ back card and that is easily canceled by 15.x% apr that comes on the CSP.

Then hypothetically if you had a TR, BBR, Freedom, and CSP... you would be best paying all before statement cut date and let a small balance report on one card. Thats if you want to play the utilization game though.

And lastly to get feedback from other forum members.... just wondering what their thoughts are on this plan.  You are ideally looking at only 2 HPs, but it could be as many as 4. I highly doubt it would be 4. Either 2 or 3.

Now the cool part is you can hope for a higher bonus on the freedom. It goes up to 200 fairly often sometimes 300.

[Anonymous]

I would suggest getting an amex revolver in your arsenal with your scores. They like thin clean files, your initial CL probably won't be too high, but you can push the luv botton frequently and they are extremly generous. This is helpful later on, you will already have higher CL and the other lenders will try to compete.

[Anonymous]

Hey OP,

you should contact BOA at some point and see if they will offer you the signup bonus for your newly pc'd TR.  It is currently $200! This would sweeten the deal until the new cards are applied for!

http://www.uscreditcardguide.com/bankamericard-travel-rewards-credit-card/

[Anonymous]

Good to know, thanks!! I'm also going to see if they will waive my annual fee.... currently stuck at $39 because it was a secured card. Every little bit helps