cancel
Showing results for 
Search instead for 
Did you mean: 

Smartest Decision for applying

Auto Loans for ANY Credit Situation. Immediate Response.
Advertiser disclosure
Contributor

Smartest Decision for applying

Hello Everyone,

 

I am going to be posting two seperate threads, one for myself and one on behalf of my grandmother who I am helping build her credit due to my grandfather passing recently.

 

I had a pretty successful June mini app-spree. Applied for Amex Platinum, Chase SP, and Citi Prestige due to a lot of upcoming travel and was approved for the CSP and Platinum but denied for prestige (no biggie I didn't really "need" that card). Anyway with these additions to my wallet I practically acheived all my goal cards that fit my spending EXCEPT Chase Amazon Prime card, and I also have a few store cards I am interested in that would fit my spending habits well. I am currently at 3/24 if you count my new chase and platinum(was a soft pull approval), If I read correctly Chase does not approve two chase cards within 30 days. So I am asking, would it be smart to wait until 30 days from my SP approval and pull the trigger for the Prime card or just wait a few months and apply? My end goal here is to have the following cards by christmas:

Chase Amazon Prime (5% back on book costs and all the other useless stuff I buy would be great)

Target Credit Card (I buy practically everything here at school, notebooks, electronics, clothes, etc)

Discover Student It (for 5% rotating categories) Also I'm preapproved currently with a solid 15.24% APR showing no range

 

Pretty much I don't "need" these cards now, but they each hold something super useful to my spending habits and I also don't have any store cards in my wallet so it would help expand my types of credit. I would say currently I am more biased towards the Amazon card with school approaching and Target does that whole link to you checking thing for 5% off so that's not a "need". I pretty much am most focused on Discover for the rotating categories and Amazon Prime for all my amazon spending. I'd love some opinions about these cards and what you guys think I should do to plan for them and best approval odds.

 

Experian FICO: 749

Utilization: 5%

10 Hard Inq - 3/10 are under 6 months old, 7/10 over a year old

no lates, missed or baddies

 

Equifax: locked out of my account last score was 759

last inq over a year old, 7 total inq

no lates, missed or baddies

 

Transunion: 744

9 Hard Inq - 2/9 are under 6 months old, 7/9 are over a year old

5% utilization

no lates, missed, or baddies

 

With all this above what's your best advice for someone like myself still building credit and wanting the cards above. Thank You!

 




Very Happily in the garden until June 2020
Goal Cards:
Chase Amazon Prime
Chase Sapphire Reserve
8 REPLIES 8
Valued Contributor

Re: Smartest Decision for applying

I’d wait until the Platinum reports to the bureaus before apping for Chase. They like doing a “whatcha up to?” SP a few weeks after getting one of their cards and you don’t want something popping up right after you apply and are approved. Give it 3 months between the CSP approval and the Amazon card, then get that one. Wait a few more months and get Disco. I’d honestly skip the Target card for now, as the other two are far more beneficial. Get the Target debit card instead - you still get the same 5% off but won’t incur debt doing so, and you may earn better rewards than a simple price break by using your major cards, such as Q4 of this year when Target, Walmart, and Amazon are the 5% rotating cash back category for Disco (which will be matched by an additional 5% back on the anniversary of you opening your card). For the times you won’t, use Target debit.


Rose Gold | BCP | Delta Gold | Hilton Surpass | Hilton Honors | IT Cash | IT Chrome | Quicksilver | Target | VS | Home Depot | Lowes | Firestone | Wayfair | Kohl’s

5/24, 1/24, 76445/24, who cares #HappyWithAmex





Entering the garden 5/27/2019, staying until 2020




Message 2 of 9
Established Contributor

Re: Smartest Decision for applying

Yeah I’d let the new cards age a few months and work on your SUBs so as not to spook Chase. I think that would time well with an application to Discover for the 5% category (+ match) with Amazon, Target, and Walmart starting in October. Also, Amazon has a store card version through Synchrony if that’s an option you’d consider. As for Target, I shop there a lot so the Red Card is amazing especially paired with Cartwheel, but I have the debit version (& it’s just as good)!


September 2019:

Stats:
Message 3 of 9
Valued Contributor

Re: Smartest Decision for applying

Yup I have both credit and debit Target cards - I may well close the credit card in the future once I get my majors up to some higher limits - until then, the $2900 CL is valuable.


Rose Gold | BCP | Delta Gold | Hilton Surpass | Hilton Honors | IT Cash | IT Chrome | Quicksilver | Target | VS | Home Depot | Lowes | Firestone | Wayfair | Kohl’s

5/24, 1/24, 76445/24, who cares #HappyWithAmex





Entering the garden 5/27/2019, staying until 2020




Message 4 of 9
Contributor

Re: Smartest Decision for applying

Wild enough I've already hit my Chase SUB spend amount and am roughly $2,000 away from Amex bonus. I've been booking all my family and friends flights as well as my own. I also just took a trip to Disneyland with family (I'm from Pennsylvania currently living in California for a summer internship) so all their flights and tickets I put on my Amex and they paid me. Aside from SUB I do believe it's smart for me to wait about 2 months then apply for discover and chase amazon prime at the same time (I'll be at 3/24 before applying). I want to utilize the upcoming discover category for Amazon's and Target purchases so I'll get a bigger match at the end of the year



Very Happily in the garden until June 2020
Goal Cards:
Chase Amazon Prime
Chase Sapphire Reserve
Message 5 of 9
Senior Contributor

Re: Smartest Decision for applying


@Bmn5940 wrote:

Hello Everyone,

 

I am going to be posting two seperate threads, one for myself and one on behalf of my grandmother who I am helping build her credit due to my grandfather passing recently.

 

I had a pretty successful June mini app-spree. Applied for Amex Platinum, Chase SP, and Citi Prestige due to a lot of upcoming travel and was approved for the CSP and Platinum but denied for prestige (no biggie I didn't really "need" that card). Anyway with these additions to my wallet I practically acheived all my goal cards that fit my spending EXCEPT Chase Amazon Prime card, and I also have a few store cards I am interested in that would fit my spending habits well. I am currently at 3/24 if you count my new chase and platinum(was a soft pull approval), If I read correctly Chase does not approve two chase cards within 30 days. So I am asking, would it be smart to wait until 30 days from my SP approval and pull the trigger for the Prime card or just wait a few months and apply? My end goal here is to have the following cards by christmas:

Chase Amazon Prime (5% back on book costs and all the other useless stuff I buy would be great)

Target Credit Card (I buy practically everything here at school, notebooks, electronics, clothes, etc)

Discover Student It (for 5% rotating categories) Also I'm preapproved currently with a solid 15.24% APR showing no range

 

Pretty much I don't "need" these cards now, but they each hold something super useful to my spending habits and I also don't have any store cards in my wallet so it would help expand my types of credit. I would say currently I am more biased towards the Amazon card with school approaching and Target does that whole link to you checking thing for 5% off so that's not a "need". I pretty much am most focused on Discover for the rotating categories and Amazon Prime for all my amazon spending. I'd love some opinions about these cards and what you guys think I should do to plan for them and best approval odds.

 

Experian FICO: 749

Utilization: 5%

10 Hard Inq - 3/10 are under 6 months old, 7/10 over a year old

no lates, missed or baddies

 

Equifax: locked out of my account last score was 759

last inq over a year old, 7 total inq

no lates, missed or baddies

 

Transunion: 744

9 Hard Inq - 2/9 are under 6 months old, 7/9 are over a year old

5% utilization

no lates, missed, or baddies

 

With all this above what's your best advice for someone like myself still building credit and wanting the cards above. Thank You!

 


You don't have a particularly thick/deep profile so you probably should think carefully before applying for a Chase card more than once every 6 months.   There are outliers, but as multiple people here can attest to personally Chase also has no qualms about circling back to close all accounts and blacklisting a customer that has been opening up new accounts at a rate they consider as indicative of excessively risky behavior.

(8/2019)
FICO 8 (EX) 793 (TU) 808 (EQ) 794
FICO 9 (EX) 822 (TU) 827 (EQ) 844

$800K+ club
Message 6 of 9
Highlighted
Established Contributor

Re: Smartest Decision for applying


@coldfusion wrote:

You don't have a particularly thick/deep profile so you probably should think carefully before applying for a Chase card more than once every 6 months.   There are outliers, but as multiple people here can attest to personally Chase also has no qualms about circling back to close all accounts and blacklisting a customer that has been opening up new accounts at a rate they consider as indicative of excessively risky behavior.

+1

 

I would also add that you mentioned in your other post that you'll be applying for a student loan at the end of the month, which is yet another new open account and lowering your age of accounts. It would be wise to hold off on any new cards, especially if you don't need them. You already have some great cards to play with for now. Let them age and reap the rewards. The other cards will still be there.



September 2019:

Stats:
Message 7 of 9
Valued Contributor

Re: Smartest Decision for applying

Echoing the comments above, it may be best to hold off on getting any new cards. You have a great lineup already and I definitely would give it a few months. Chase is an easy one to spook and they have been known to shut down accounts if anything doesn't line up. Also, down the road, you can upgrade the CSP to a CSR to take advantage of the higher rewards and travel credit. Definitely worth doing that if you do travel.


Scores - All bureaus 750 +/-
TCL - Est. $275K
Message 8 of 9
Contributor

Re: Smartest Decision for applying

Thanks everyone, as I said in my original post I'm not in a rush to get these cards by any means. I am very very very satisfied and Happy with my current lineup and won't be apply until much closer to October/November (4-5 months) by this time the only new accounts will be my CSP, Amex platinum, and my discover student loan which I'm waiting until end of July beginning of August (that will be my second statement cut for chase) trying to calculate my student loan hard pull for after chase does the soft inquiry on my credit. I've read a lot on here about spooking chase and with them giving me a $12.5k starting limit then 3 days later auto CLI my freedom unlimited from $500 to $2000 I think they've been quite generous with that hard pull LOL.



Very Happily in the garden until June 2020
Goal Cards:
Chase Amazon Prime
Chase Sapphire Reserve
Message 9 of 9
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.