Which do I apply for first??

[jbolds88]

I currently have 3 cards that I’m interested in but only going to apply for 2 and I would like some advice on how to go about it. The 3 cards are the Chase Marriott Bonvoy card, Chase sapphire preferred and the delta gold Amex. The only one ive been pre-approved for is the delta Amex. I currently have a cap 1 platinum ($300 cl opened May 2017) a cap 1 quicksilver ($600 cl opened Nov 2018) a fortiva Home Depot card ($5000 cl opened nov 2017) and a NFCU ssl opened last month. Utilization is at 4%. No lates or collections but I do have a dismissed bk from May 2013. It wasn’t supposed to be filed and it was cancelled a week after the filing but it still shows on CR. My Experian Fico 8 is 696. My report is pretty thin so it shows on 3 different simulators that by just opening another cc with at least a $1000 cl will boost my score 9 points. My real question is should I apply for the Amex first to try and get the Fico boost or should I apply for one of the chase cards first in case the Amex inquiry and the new act actually brings my score down. I know the chase cards will be harder to get. Honestly, do I even have a chance with either of the chase cards. Sorry for the novel. Any help or advise would be appreciated.

[Anonymous]

I think you have a minimal chance of getting the CSP. You have very low limit cards except for the Home Depot which is a store card.

Looking at the other two, I'd say the Amex Delta is your best bet, especially since you're pre-approved.

Just make sure that's the card that you want. Don't just get it because a simulator said it will raise your score. I personally dont think it really will.

[Anonymous]

There is no score boost for opening a new card because you already have the optimum 3 cards + installment. 

You will actually take a score hit for new inquiry and possibly for account age as well. 

If the Delta Gold will fit your spending, I second going for it. 

[Priory_Man]

The CSP i think at this time is your least likely card you would be approved for, that may be something you should garden for and try for that in a year or so.
The Amex card regardless if you will use Delta or not maybe your best way in to start your history with them, obviously if you plan to use Delta then even better.
I'm not sure on the DP's for the Chase Bonvoy so I can not really comment on that one.
Simulators are not that reliable, however, you may see an increase due to your amount of available credit going up, but, you may also see a decrease because of the HP and the new account bringing your AAoA's down.

Good luck on whatever you decide and remember that Slow and steady is the best way to a great credit score.

[HeavenOhio]

The bankruptcy is going to exclude you from Chase. Don't apply with them untill it falls off.

Also, don't rely on simulators. They're notoriously unreliable.

Figure that once you have three cards or so, a new card is going to cause a short-term score reduction before you start to see gains. When one gets his first card, he'll see an immediate score gain because the benefits of adding the card offset the dings associated with new accounts. Chances are that he'll see another immediate gain with card two and also possibly with card three. By card four, the new account dings will definitely kick in.

The problem is that people see these gains and think more cards will be better. They add a half a dozen or so, and they watch their scores dive.

The major potential ding is for AoYA (age of youngest account), which will be reset to zero. When your youngest account reaches a year old, there's a nice scoring bonus of about 20 points. You've already lost those points with your recent SSL, so you won't be losing AoYA points again. You'll be dinged for an inquiry and possibly for reducing your AAoA (average age of accounts).

That said, other than dancing around the bankruptcy, you're in a good position to add two accounts. Your current accounts have age going for them, and your utilization is good.

[jbolds88]

Ya I figured the CSP would be a long shot but I wasn’t sure about the Marriott card. I would really like 2 rewards cards with decent limits before I head to the garden for a while. Does anyone have any suggestions for my profile other than the Delta amex?

[SouthJamaica]

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@jbolds88 wrote:
Ya I figured the CSP would be a long shot but I wasn’t sure about the Marriott card. I would really like 2 rewards cards with decent limits before I head to the garden for a while. Does anyone have any suggestions for my profile other than the Delta amex?

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If I were you I would garden for awhile.

If you've got to apply for something, I'd suggest either looking at some credit unions, or maybe applying for a Discover IT card.

As to Amex, I think you'd find the Blue Cash Everyday to be a more versatile card for you than the Delta unless you're big on flying Delta.

[Anonymous]

Anytime Chase comes into the picture, those cards come first. Chase gets priority because of the infamous 5/24 rule. If you've opened 5 credit cards in the last 24 months (retail cards don't count though), whether through Chase or other Banks or both, just your total, you cannot open a card with Chase. My advise to you is simple, open the two Chase cards you want first, then open the Amex card.

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US Bank Cash+ Visa Signature $5000 | Chase Freeom $1500 | JCPenney $1500 | Bank of America Cash Rewards $500 | Discover It Cash Back $3500 | American Express Blue Cash Preferred $6000 | Chase Freedom Unlimited $1500

[Anonymous]

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@Anonymous wrote:

Anytime Chase comes into the picture, those cards come first. Chase gets priority because of the infamous 5/24 rule. If you've opened 5 credit cards in the last 24 months (retail cards don't count though), whether through Chase or other Banks or both, just your total, you cannot open a card with Chase. My advise to you is simple, open the two Chase cards you want first, then open the Amex card.

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US Bank Cash+ Visa Signature $5000 | Chase Freeom $1500 | JCPenney $1500 | Bank of America Cash Rewards $500 | Discover It Cash Back $3500 | American Express Blue Cash Preferred $6000 | Chase Freedom Unlimited $1500

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Retail cards count. 

[jbolds88]

So just to update I applied for the chase Marriott Bonvoy card first and received a “your application is being processed message”. I then applied for the delta Amex and was approved but the starting limit is only 1k. I couldn’t help myself with the chase card. Hopefully it goes through. 🤞🏼