The story starts this summer. Decided it was time to stop paying credit card interest on my massive balances (at one point over 100k) and go to a paid in full model. I used an existing card (SunTrust Rewards) and stared PIF. It wasn't working at half the point of sale registers I was using it on. That was ticking me off and also the 1% everyday earn. It just happened to be that month I was paying off an auto loan with Chase so I decided to go for a preapproved card. I picked the CFU as I liked the SUB (30k points once you spent 20,000 in 12 months) for an entry level card.
Well they gave me a 7400 limit which for someone with a 73,000 limit on one of my cards I consider it tiny. To further complicate it my first statement balance wasn't due for a full 2 months. Right in the middle of the summer as I was loading vacation spending on it. At one point I had to actually call chase to reject a merchant so I didn't go over the 7400 limit (as a PIF customer wth). The 7400 limit was just barely able to serve my needs.
Chase had my vantage score at 630 (absurd for no missed payments/deliquencies). On the first Friday in November I log into the account and thought my eyes decieved me. My credit limit had been increased to 13,400. Auto Love! I check my credit score on Chase Journey and vantage score is up to 700. Then the question was is it time to get the Preferred? I wasn't sure if that score was going to hold so I decided just to make sure to wait until next week and low and behold it dropped to 689.
But I was getting desperate. I had already spent 17,500 on my CFU in 5 months and knew with bills on there I could stretch the bonus for a few more months with it becoming a back of the wallet card. I decided I wasn't going to take any chances on my dicey vantage score so I applied in branch. The branch consultant looked it at me as if I was a moron for going into a branch to apply for a credit card when you can do it online. I said I was heading to California in a few weeks (which I was) and wanted to expedite the card.
I enter my info with the consultant and.....I was approved for a CSP with a 24,600 limit. In the course of 1 week I increased my CL with Chase from 7,4000 to 13,400 to 38,000. Now this is more like it and I received the card within 5 business days. When the card came in Chase said my risk adjusted credit score was 765. The question then is would I have been approved for the CSR if applied for that one? After the CFU I had no pre-approvals online and when I filled out the pre-qualified checker it always turned up empty.
My thinking was I could upgrade my CSP to a CSR after I finish the SUB requirement. I had thought once it moved beyond new account status (120 days) and there was no longer a hold on my payments I would see some auto love again like I had with the CFU then call in for a product change. I need to make my SUB spend requirement by 2/15 (have $800 more to go) and have about $1600 more to go on my 3x earn with the CFU. That will tide me over about another month before I drop to the regular earning rate.
The moral of the story is check Chase Journey every week and if your score pops jump on it. Apply in branch if you need it quick. I may do that for the United Explorer card next as now we are talking Hawaii in February.
Official travel point totals as of 10/21/24 (1,358,177 Total Points)
Chase Ultimate Rewards 696,884 | IHG One Rewards 144,957 | Hilton Honors 144,521 | AMEX Membership Rewards 102,729 | World of Hyatt 76,095 | Marriott Bonvoy 65,343 | Citi Thank You 38,153 | Choice Rewards 32,460 | United MileagePlus 13,316 | British Airways Avios 12,333 | Jet Blue TrueBlue 11,780 | Wells Fargo Rewards 2,858 | Southwest Rapid Rewards 2,447 | NASA Platinum Rewards 1,883 | AA Advantage 1,744 | Navy Federal Rewards 1,087 | Delta Sky Miles 175 | Virgin Atlantic Virgin Points 100 | Lowes Business Rewards 7,102 ($71.02) | Amazon Rewards 2,200 ($4.75) | Discover CB 10 ($0.10)
