Apply for AMEX in January or wait?

[bmwman3241]

I am considering applying for my first AMEX in January. I was added to my dads AMEX SPG in November, so have locked in my MSD.  If I apply in January I will get an open date of 1/2013 which should be good. What are the chances of getting approved? With a decent limit? Should I apply or wait?

I am also interested in applying for the Chase CSP, mainly for the no foreign fees. When should I apply for that since I just got the Freedom.

My cards:

Union Bank (FNBO) Secured card 8/2013 CL$-1,000

Chase Freedom 12/2013 CL-$10,000 (Visa Signature)

AU cards

AMEX SPG (AU since 11/2013) 10/2013 CL-$10,000 (61day CLI yesterday to $30k)

Capital One (AU since 11/2013) 2/2000 CL-$2,600

Capital One (AU since 11/2013) 2/2002 CL-$3,250

Scores

CreditKarma-727 CreditSesame-773

Equifax.com Scores 12/26: EQ 707  EX 692  TU 677

Inquiries

EQ 0    EX 1    TU 1

As a side question, If I apply for an AMEX charge card in January and am accepted, if I apply for a revolver right after it will only be a SP correct? How long do I have to apply for the second card? 

Edit: Was approved for both Amex PRG and Chase CSP! 

[FinStar]

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@bmwman3241 wrote:

I am considering applying for my first AMEX in January. I was added to my dads AMEX SPG in November, so have locked in my MSD.  If I apply in January I will get an open date of 1/2013 which should be good. What are the chances of getting approved? With a decent limit? Should I apply or wait?

I am also interested in applying for the Chase CSP, mainly for the no foreign fees. When should I apply for that since I just got the Freedom.

My cards:

Union Bank (FNBO) Secured card 8/2013 CL$-1,000

Chase Freedom 12/2013 CL-$10,000 (Visa Signature)

AU cards

AMEX SPG (AU since 11/2013) 10/2013 CL-$10,000 (61day CLI yesterday to $30k)

Capital One (AU since 11/2013) 2/2000 CL-$2,600

Capital One (AU since 11/2013) 2/2002 CL-$3,250

Scores

CreditKarma-727 CreditSesame-773

Equifax.com Scores 12/26: EQ 707  EX 692  TU 677

Inquiries

EQ 0    EX 1    TU 1

As a side question, If I apply for an AMEX charge card in January and am accepted, if I apply for a revolver right after it will only be a SP correct? How long do I have to apply for the second card? 

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On the surface, and based on the information provided, seems like you would have a decent chance during January.  As far as the limit, that's not something anyone would be able to predict.

With Chase, you can apply at anytime.  However, if this is your first card with them, you may want to build some history on the Freedom first (~6 months).  Or you can try your luck in the next 30 days and see if it results with a good outcome.

As far as applying for the AMEX charge in January (in succession with the SPG), if approved it will be another HP - if not approved then it's SP.

[bmwman3241]

Thanks for the reply! I would like a high limit for AMEX, but with the 3x CLI thats not something im worried about.

The Freedom is my first Chase card and I've only had it a month. Would it be better to wait 6 months or apply now? Also, would you suggest applying for the CSP before or after the AMEX?

Does it make sense to apply for 2 AMEX cards at once? Are there any drawbacks?

[bmwman3241]

I would also like to know, if I apply for the CSP and am denied, how likely is Chase to let me transfer $5,000 from my Freedom card towards the CSP? Is it guaranteed?

[myjourney]

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@bmwman3241 wrote:

I would also like to know, if I apply for the CSP and am denied, how likely is Chase to let me transfer $5,000 from my Freedom card towards the CSP? Is it guaranteed?

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Chase is really good about moving lines to open new cards YMMV tho as always 

[BearsAndTurtlesRtheBest]

+1

[bmwman3241]

Alrite thanks. I think I'll apply for the CSP at the end of January after applying for AMEX. Hoping for an instand approval

[heyitsyeh]

If you're primarily looking for no foreign transaction fees, you can also spare the annual fee of the CSP by getting a CapOne Quicksilver

[Kenny]

Anyone know of any good Amex sign up offers this month?

[FinStar]

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@bmwman3241 wrote:

Alrite thanks. I think I'll apply for the CSP at the end of January after applying for AMEX. Hoping for an instand approval

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Sounds like a feasible plan OP.  Keep us posted and good luck with both!