To Apply or Not To Apply

[lizzy16]

So I've really just started builging my credit back in 2014....I started with a Cap One Secured Card (8/14 $200 now $500).  One year later, Cap One QS (5/15 $1500 now $3500) followed by a JCP store card (11/15 $600).  I don't have the best of scores, however, I've had worst.  

About two weeks ago, I app for VS ($500), Express ($750), and Overstock ($2200).  All of a sudden, I'm sort of wishing I would have only applied for one instead of all three.  Within the last month, I have received 2 pre-qualified apps for Chase Slate and 2 for Chase Freedom unlimited.  I really want to apply, however I don't want to risk to HP.  My current HPs are as EX 10, EQ 8, and TU 7 (5 of those will be removed around Dec 2016 across all three).  

Based upon what I have been reading on this site, I'm thinking that I should go for the Chase Freedom before the accounts that I just opened start reporting to the CRAs.  I'm also interested in the Discover it card but feel as though I better apply for Chase card first based upon the 5/24 rule that I keep reading about.  I would really just like to work on obtaining better bank cards rather than store cards....although there are a few more that I wouldn't mind having later on.

So I would like to know if the three cards that I just received are going to count against me even though they were SPs when it comes to applying for a Chase card????

[CountryLivin]

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@lizzy16 wrote:

So I've really just started builging my credit back in 2014....I started with a Cap One Secured Card (8/14 $200 now $500).  One year later, Cap One QS (5/15 $1500 now $3500) followed by a JCP store card (11/15 $600).  I don't have the best of scores, however, I've had worst.  

About two weeks ago, I app for VS ($500), Express ($750), and Overstock ($2200).  All of a sudden, I'm sort of wishing I would have only applied for one instead of all three.  Within the last month, I have received 2 pre-qualified apps for Chase Slate and 2 for Chase Freedom unlimited.  I really want to apply, however I don't want to risk to HP.  My current HPs are as EX 10, EQ 8, and TU 7 (5 of those will be removed around Dec 2016 across all three).  

Based upon what I have been reading on this site, I'm thinking that I should go for the Chase Freedom before the accounts that I just opened start reporting to the CRAs.  I'm also interested in the Discover it card but feel as though I better apply for Chase card first based upon the 5/24 rule that I keep reading about.  I would really just like to work on obtaining better bank cards rather than store cards....although there are a few more that I wouldn't mind having later on.

So I would like to know if the three cards that I just received are going to count against me even though they were SPs when it comes to applying for a Chase card????

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Since they were soft pulls, they won't count against your inquiries...but new credit when it reports could lower your score temporarily......I would app before they report if possible....then garden for awhile.

[Anonymous]

Definitely app for the Freedom and then Discover IT.  I think those are great long term cards.  Discover has the double points in the first year and extra bonuses when cashing out with gift cards.  As long as their rewards program doesn't change I could see those staying in my wallet for many years.

Also I wouldn't worry about the Slate.  You can find many other non-Chase balance transfer friendly cards elsewhere.  Lots of credit unions with low/zero balance transfer fees and low APRs or zero intro APRs.

[RonM21]

I'd go for the Freedom and Discover also, for the same reasons mentioned above. Good long term cards to use and the Discover in particular really grows.

[Anonymous]

If it's a card you want, isn't it worth the hard pull?

Also with Chase 5/24 if you want the card, it's no brainer.  Grab it while you can.

[Anonymous]

I like the freedom card and the slate, but I would say if you want to get the CSP anytime in the next two years I would save a App for that. If not Freedom is a great card. 

[lizzy16]

**UPDATE**

So I finally went ahead and submitted an app using the Chase pre-qualification (Freedom and Slate) on July 14.  I started with the Freedom app and It gave me the 7-10 message.  However, the email that I received said within 30 days.  A few hours later, I said what the he!! and tried for the Slate.  Only difference this time, I used one of the pre-screened invitation that I have been receiving in the mail.  ANOTHER kick in the face....7-10 day message followed by an email saying within 30 days.  

It was well past my bedtime and I was just up reading and trying to decide if I was going to call the next morning or not.  So then I read about calling the "robot lady" on the app status line....I got the same 7-10 message.  

The next morning, I called the number again and it immediately said please hold while I transfer your call.  Long story turned short....I had to verify that I had applied for the Freedom card and was approved for $3500 after the sending of a text to my cell phone.  As far as the Slate card goes, I have to wait to receive/return the verification form since the address on the pre-screened app had my PO Box address on it.   

[Anonymous]

If it were me, I would go ahead and app for Discover and Freedom. If you do it now, while there is still no guarantee that you will get approved, you have a better chance than waiting until the other three cards hit your report.

[Anonymous]

Congrats lizzy16!!! That's awesome!!!