WHAT CREDIT CARD SHOULD I GET?

Anonymous · ‎03-06-2018

Technically it can be 2 cards, but I would perfer one.

I just closed on my house and it has yet to hit my credit report. I have a 782 FICO and ZERO credit card debt. I do have 2 leases in my name with total balances at 12,600.00

I have 4 cards open

Chase slate - 9800 available

Barclay mastercard - 6500 available

2 store cards - 3000 combined.

I want 2 things. most importantly rewards for travel or cash back. Whatever is the most lucrative.

I see that the Chase Saphire Preferred is giving a good bonus if you spen 4k in 3 months (I will spend more)

BUT my main concern is because I have limited credit history (2 years 7 months credit history age)

Will Chase limit my credit amount due to the slate card I have? I really want at least 10k approval.

Also, Are there any cards out there that will give me an intro 12-18 month 0% APR AND rewards?

My main goal is to get the best rewards but who doesnt like interest free?

Anonymous · ‎03-06-2018

Discover will give you intro 0% APR and rewards and can be generous with SL. With your scores the Chase SP should be no issue and has a great into offer but does not have the 0% APR offer. . I would consider getting in the door with Amex also. The Everyday card from amex has 15 months 0% and rewards.

Anonymous · ‎03-06-2018

CSP is fine with 2 yrs and 7 mo of credit history, provided that in the recent 2 years you didn't open 5 or more new credit cards (store cards included, closed cards included). You can always check in your Chase online account to see if you are preapproved for any offers, as well as a dedicated prequalified page. If your income supports it, Chase can approve you a CSP (min. limit $5k).

But before applying for anything, you can ask them to see if they can product change your Slate to a CSP or Freedom. If the PC from Slate to CSP works, you can apply for a new Freedom card (as long as you are under 5/24) and it does come with rewards and intro 0% APR. CSP + Freedom combo is also a popular way to maximize return on rewards.

As a side note, Chase Sapphire Reserve comes with same signup bonus, more annual fee but with a $300 annual travel credit to compensate it, and better benefits. So based on your practical travel needs you may choose between CSR and CSP.

Anonymous · ‎03-06-2018

Wow thank you very much for this.

Do you know how I would go about asking for the change in cards? Go to the branch or call?

Anonymous · ‎03-06-2018

Also, I believe that you lose the intro offers and bonuses on a PC. so if I got the CSP I wouldnt get the 50k points for spending 4k

imaximous · ‎03-06-2018

mmm... I'd actually apply for the CSP for the bonus, and then I'd PC the Slate to Freedom because you'd only miss out on $150 instead of 50k points.

Anonymous · ‎03-06-2018

@Anonymouswrote:
Wow thank you very much for this.

Do you know how I would go about asking for the change in cards? Go to the branch or call?

A quick call to the back of your card should take care of this, they should allow a product change if you have had the account open for at least a year. In the event the agent on the phone is not knowledgeable on how to do a product change, you can login to your online account and send a secured message to Chase inquiring about the product change.

Of course you can go in branch and the banker should be able to do this for you, but I would prefer calling or sending SM just to save a trip.

Anonymous · ‎03-06-2018

@Anonymouswrote:
Also, I believe that you lose the intro offers and bonuses on a PC. so if I got the CSP I wouldnt get the 50k points for spending 4k

Good point, I think you are correct about the intro offer.

Anonymous · ‎03-06-2018

Thank you all!

Anonymous · ‎03-06-2018

So I just called the number on my card and if I went to freedom or freedom unlimited I would forfeit the bonus AND the intro 0% APR.

If this is the case, is there any benefit to changing to either of these cards?