Spree vs Snail

[NRB525]

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@Creditaddict wrote:
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!

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The objective is also long term, and with Chase, the limit you get at the start (even on two cards) is the extent of the limit you can expect. Building the track record with card usage results in a larger Next App CL with both Chase and CapOne.

In 2014 I closed three CC, $10k AMEX, $8.8k Chase, and $17k US Bank without worrying about moving around the limits.

Since then I've gotten $127k in new approvals on 9 new cards from October 2014 to now, excluding Diners which is not available to new apps. Building high CL is a long term project. Once one gets traction, it's not a problem. Expecting high limits too early can lead to disappointment. Building to higher limits with real credit history is the way to be assured those limits are solid.

And if OP really wants to control the CL in the future, then go for the AMEX ED or BCE, take whatever that starting limit is, then 3x at 61 days, 3x again 181 days after that.

[jesseh]

Hi,

I've decided to go with Chase today. I'd actually like to apply for three cards, csp, freedom and ihg.

• Freedom has no AF, so no reason to ever close it. (for aaoa)
• CSP gives nice CL, and visa siggy perks. However, after a yr I probably want to close it, because I don't expect to use it enough to justify the AF.
• IHG gives free annual night at great hotels, also don't see a reason to ever want to close that. Also, because it's a hotel card, I expect higher CL than for freedom

So, what should I do? I'm thinking of apping for CSP, and IHG, and after a year hope to PC the CSP to Freedom. (Apping for all three today probably won't succeed, will it?)

Does this seem like a good strategy guys? As I'm on the beginning of my 'journey', I'd like to build aaoa with cards to stay. (my oldest accs now are secured cards which I will want to get rid of some time, my aaoa is the 'worst' factor in my credit score)

[jesseh]

So my plan now:

App for pre-approved CSP

then app for Chase IHG

Should I do it?

(and if IHG does not approve immediately, should I wait or app for Freedom?)

[Creditaddict]

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@jesseh wrote:

So my plan now:

App for pre-approved CSP

then app for Chase IHG

Should I do it?

(and if IHG does not approve immediately, should I wait or app for Freedom?)

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yes apply for CSP, then IHG, then you can try to push it and go back in and run pre-qual again and apply for freedom!

[jesseh]

Awesome, thanks. Do you think I would be able to PC the CSP to a freedom in a year to avoid the AF?

[Creditaddict]

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@jesseh wrote:

Awesome, thanks. Do you think I would be able to PC the CSP to a freedom in a year to avoid the AF?

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No, but you can move the CL from CSP to your IHG.

[jesseh]

Thank you for responding. Your response requires further review before making a decision.

Here's what you can expect:

• Our goal is to notify you in writing within 10 days; however, in some circumstances it may take up to 30 days.
• If you are approved, you will receive your card and other important information in the mail.
• Please do not resubmit this response.

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Should I call in?

[Creditaddict]

Wait an hour and call verification, not credit

[CreditCuriosity]

Just curious as no one has asked this is your income > 30k? .. Reason I ask is the limits in your signature are pretty low..  If not that could be a possible barrier on the CSP.

[jesseh]

I couldn't wait and called verification right away. Approved for 12k

So, IHG next...

edit: yes, my income is about mean income