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Spree vs Snail

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jesseh
Frequent Contributor

Re: Spree vs Snail

@jfriend33

I'd like to have the perks of having more premium cards (concierge, purchase protection). Also, I feel a credit report with only low limits does not look as good as one with higher limits. Utilization will not increase.

Would NasaFcu be a good option right now, or should I wait?

Unfortunately, Andrews fcu and state dept don't unsecure secured cards at all. Which really sucks, because I feel I'd like to get rid of these almost useless cards, besides the fact they are my oldest accounts..

Interesting how your limits got stuck in the 2-3k range because of your May spree, that's exactly what i would like to avoid. Thanks

 

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@Creditaddict

Interesting, I tried to find that post in your history, but couldn't find it. Could you point me in the right direction? Unfortunately I'm ineligible for navy.

Could you please clarify what you mean by "your current cards are what you let grow to get to this point of spreeing, so you don't need to grow more by adding 1 here and there."?

Do you suggest doing double Chase, citi, amex, barclay, all as a spree?

 

Cards: BCE 24k 5/'17 | CF 12k 10/'15 | IHG 12k 10/'15 | HH 6k 6/'18 | DS It 6k 3/'15 | TR 5k 11/'15
Scores: 760-770 | Inquiries: 0-1 | Utilization: 0-10% | AAoA: 3yrs | Bank: Ally | CU's: Navy & Pentagon
Message 11 of 66
OmarGB9
Community Leader
Super Contributor

Re: Spree vs Snail


@jesseh wrote:

 

Chase gives me the following prequal page:

 

(my name above it)

(chas.png

 

So, does the fact that it shows a CSP, mean I can be sure to get a 5k limit?


Assuming you get approved for it, yes. CSP has a minimum $5k SL.


Last App: 1/10/2023
Penfed Gold Visa Card

Currently rebuilding as of 04/11/2019.

Starting FICO 8 Scores:




Current FICO 8 scores:


Message 12 of 66
Creditaddict
Legendary Contributor

Re: Spree vs Snail

http://ficoforums.myfico.com/t5/Credit-Card-Approvals/Spree-for-a-friend-SUCCESS/td-p/4288781

 

What I mean by your current cards is you did the secured route and 1 unsecured card and now your scores are in the mid 700's so it's a great time to spree instead of another set of baby steps.

 

Chase: Yes, Since you are being offered the CSP, you are good for at least $5k... in my friends spree I posted above we did Slate and CSP because he actually needs a BT card and when they arrive he will move the $5k CSP to slate and close it.... In your case you do not need BT card so I would do CSP and if you like freedom sure but something like Marriott, United (hotel or airline card) as the 2nd app to the CSP will probably receive a higher CL than a freedom app.

 

2 Capital one (venture/Quicksilver)

1 Citi (Double Cash?)

1 Barclay if you like it

1 Amex

Message 13 of 66
Cmikul
Regular Contributor

Re: Spree vs Snail

my .02

 

you should snag that CSP.

 

If you do anything else just make sure you hit that CSP button first. 

 

I agree with having a plan to which buttons you hit and in what order if you do a spree.

 

I laid mine out and hit them in the order I wanted them and in the order I knew the hardest ones would get looked at first.

I had reasonable success. Can't really complain.

 

you're scores look like you could withstand a spree/attack on at least 4 banks and should be able to walk away with at least 4 cards and $40k in new credit.

 

but that's just at a glance without knowing anything about your income or profile.

 

 

Message 14 of 66
Anonymous
Not applicable

Re: Spree vs Snail

I would take the CSP if you can meet the minimum spend and would have a need for the points. It is a pretty awesome combo with the freedom. Just app for that and the freedom.

 

But if your goal is a big limit then right after that I would get a $5 nasa membership and app for the credit card. You will have to show proof of income and ID so be prepared.

Message 15 of 66
Anonymous
Not applicable

Re: Spree vs Snail

You should apply for cards based on your specific goals. I get better results the more time I put in between credit card applications. It's one of the positive outcomes of gardening. When I apply for a credit card, my goal is to receive a high SL and low APR. I don't want to barely get in the door with a creditor and then spend the next 2 years asking for CLIs and trying to lower my APR.

 

 

Message 16 of 66
NRB525
Super Contributor

Re: Spree vs Snail


@jesseh wrote:

 

Chase gives me the following prequal page:

 

(my name above it)

(chas.png

 

So, does the fact that it shows a CSP, mean I can be sure to get a 5k limit?


I would suggest taking only the Freedom for now. This will give you a start with Chase, you can start earning UR points on a no-AF card, using the quarterly categories that they have on the card in 2016. Using the Freedom will give you a track record directly with Chase, and then later you can decide whether you want the CSP or not.

 

What is the specific Prequalification you get from Capital One?

I would suggest getting a Capital One Quicksilver, no AF card. This will get you started with Capital One. Later, after you have a track record with Capital One, keeping the Quicksilver active, you can app for the Venture card, and will likely get a much larger CL than any other CCC would give you at that time. The Venture has a spend bonus which you can use to get some travel points. Then, after 6 months if you decide you don't want the annual fee, the Venture limit can be moved into the Quicksilver limit.

 

Using these two cards, since you are early in your snail growth phase, is a good way to keep your journey real. Can you get 5 cards right now? Probably. Is that the best choice for someone just starting out? In my opinion, not at all. not at all. Take some time to work with basic cards like Freedom and Quicksilver, then look at what else is available, ask a lot of questions, and take your time.

 

Good luck!

 

p.s. Since your scores are in the mid-700's, you don't need to include "no baddies" in your siggy. The scores say "no baddies" already Smiley Happy

High Bal Jan 2009 $116k on $146k limits 80% Util.
Oct 2014 $46k on $127k 36% util EQ 722 TU 727 EX 727
April 2018 $18k on $344k 5% util EQ 806 TU 810 EX 812
Jan 2019 $7.6k on $360k EQ 832 TU 839 EX 831
March 2021 $33k on $312k EQ 796 TU 798 EX 801
May 2021 Paid all Installments and Mortgages, one new Mortgage EQ 761 TY 774 EX 777
April 2022 EQ=811 TU=807 EX=805 - TU VS 3.0 765
Message 17 of 66
Creditaddict
Legendary Contributor

Re: Spree vs Snail

It's common knowledge to get 2 chase cards and 2 cap1 cards with same pre-qual and same hard pulls... Why would you suggest not only just 1 of each of these cards but 1 of each of the lower tier cards known not to issue the higher limits??!! That's BONKERS!
If you are going to take 1 of each (crazy) but if you are take the premium and higher limit giving cards (venture, and csp)
Message 18 of 66
NRB525
Super Contributor

Re: Spree vs Snail


@Creditaddict wrote:
It's common knowledge to get 2 chase cards and 2 cap1 cards with same pre-qual and same hard pulls... Why would you suggest not only just 1 of each of these cards but 1 of each of the lower tier cards known not to issue the higher limits??!! That's BONKERS!
If you are going to take 1 of each (crazy) but if you are take the premium and higher limit giving cards (venture, and csp)

Because not every one can handle 7 cards in their wallet when they are just starting out on their credit journey Smiley Happy Or the bonus spend requirements of $7,000 in 90 days to thoroughly earn the CSP and Venture bonus. Heck, many of us with lots of cards and expenses can't even fathom that level of spend. Someone with currently low value cards, I'm almost certain canNOT in any visualization get $7k of spend done in 3 months.

 

By the time OP gets an understanding of the next phases of this journey, meaning deciding whether CSP makes sense, whether Venture is necessary, these HP will be a distant memory.


Besides, OP's original question is "Spree or snail" Not What is my best spree strategy?

High Bal Jan 2009 $116k on $146k limits 80% Util.
Oct 2014 $46k on $127k 36% util EQ 722 TU 727 EX 727
April 2018 $18k on $344k 5% util EQ 806 TU 810 EX 812
Jan 2019 $7.6k on $360k EQ 832 TU 839 EX 831
March 2021 $33k on $312k EQ 796 TU 798 EX 801
May 2021 Paid all Installments and Mortgages, one new Mortgage EQ 761 TY 774 EX 777
April 2022 EQ=811 TU=807 EX=805 - TU VS 3.0 765
Message 19 of 66
Creditaddict
Legendary Contributor

Re: Spree vs Snail

I believe one of ops original goals was high limits and high limits earn higher limits in future many times so bonuses aside if high limits is goal you don't pass up premium pre approvals!
And one of my original points was to take 2 and consolidate ( I never suggested op try for csp bonus just take csp and move it to the 2nd card for higher limit and take 2 cap1 because in 6 months you can consolidate to 1 higher limit!
Message 20 of 66
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