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Feedback Please!!! CSR App Strategy (hesistant due to a few strategic hiccups)

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Feedback Please!!! CSR App Strategy (hesistant due to a few strategic hiccups)

Stated income: 110K

TU: 782     EXP: 780

AAoA: 5.5 Years

Oldest: 13 Years

Inq: 1 from a new account 2 years ago (dropping off at end of october)

Newest Acct: July 2019

 

 

The Backstory

I was very conservative about asking for credit limit increases so I never did it thinking it would be looked upon as credit seeking behavior. I didn't like the idea of spooking my creditors as I value my credit-worthiness. I have since discovered the whole concept of utilization %. Since I run 10K a month between my girlfriend and I, it would always destroy my score even though I pay in full (except when I'm taking advantage of low interest BT). I only had a total of 40K TCL at the time.

 

I had to add my girlfriend as AU's because she ruined her credit and she needed the credit for work related travel. I've since brought her out of the 400s to mid 600s. However, during that whole time I couldn't properly app or get CLI's because of high utilization affecting my credit score. Well, we finally got to the point where we are ahead enough for me to apply for an AMEX Gold, a goal card of mine. And I did, in July.

 

With balances now on the Gold card, my credit score didn't suffer as much on temporary balances. The AMEX does get PIF. Finally, my score is close to where it used to be. I ended up getting auto-CLI's on my Discover, BoA and Citi (approx 5K extra). But the main thing was I finally comfortable requesting AMEX 3x CLI a month ago (went from 15k SLI to 45k. Instant. THANK YOU FICO forum!!! Wish I knew about 3x CLI earlier). They are also the first to extend me such a great SLI of 15k. As a customer for 3 years, they've been a godsend to me. I am incredibly loyal to them for those reasons. My oldest account (13 years) is from a conservative bank and is barely in the double digits, but I'm loyal to them also because they were the first to extend me credit as a student when others didn't. However, I will no longer be running as much through them because they have rarely rewarded me with CLI's even though I have never missed a payment. I think I took a HP from them for 2k.

 

My Wants

Chase Sapphire Reserve (with high SLI), Marriott travel card

 

I spend at least 4K per month on Marriott hotels exclusively. Yes, it hurts to know I missed out on so many points because of adding my girlfriend as an AU, thereby preventing me from app'ing sooner.

 

The CSR is  another goal card of mine because it fits my usage patterns well and offer a better rounding out of my portofilio compared to the AMEX platinum (even though I want that as well).

 

The Problem(s)

0. Plan to travel in November (so the CSR lounge stuff would come into play)

1. Marriott AMEX 100K SUB is expiring on the 23rd.

2. My new credit limit on AMEX has only been reported in Experian and not TU

     i. I believe the reason it isn't being reported is because I've been paying it down to 0 reporting balance before statement cuts

3. I am currently pre-approved (green check mark) for CSP at 20K SLI. This indicates to me that Chase might not give me a 30K+ SLI on the CSR, which I would really want just for utilization % purposes. I think this is because TU isn't reporting CLI. I have more than enough credit, so it's not that I need the credit.

4. Because I want a high SLI, I feel like I'd have to wait for my AMEX CLI to report to TU before app'ing to the Sapphire. However, because the Marriott SUB is expiring, I feel like I have to app that before I app to the CSR.

5. This means if I do apply for the Marriott travel the below will be my stats when I app for CSR:

    

     New accounts in last 1 month (1)

     New accounts in last 6 months (2)

     New accounts in last 2 years (3)

     Reported Balance on Amex gold: 7k

     Other balances: 3k

     Overall Utilization: <5%

 

The Questions

Since ultimately a CSR is a goal card and the one I would hate to miss out on, what should my strategy be?

 

1. Do I forgo the Marriott 100K SUB and 6x points that I will missing out on until I get the CSR?

2. Do I just apply for CSR and hope that the CLI not being reported on TU won't affect the Sapphire Reserve SLI?

3. Do I just apply for the Marriott now, and then the CSR as soon as TU updates, because I'm just overthinking it? That is to say I don't know any better and that the CSR being the 3rd new recent account isn't even that big a deal for my profile?

 

Advice please. I've zero derogs but never knew any better. I feel like a deserve a better credit profile than I have for being a responsible credit user. And I want to get this right. Thank you.

 

 

 

 

Message 1 of 13
12 REPLIES 12
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Valued Contributor

Re: Feedback Please!!! CSR App Strategy (hesistant due to a few strategic hiccups)

One.... you're over thinking things a bit but, it makes sense.

 

Amex takes ~60 days to report new accounts

 

App order should be Chase first as you run into the most issues with 5/24 

 

You should still be fine by adding the Marriott card for the bonus if you want and even 1 more w/o impacting Chase 

 

Regardless of the CL you get when you open any of these wanting a 30KCL out of the gate is one thing and reality is something totally different sometimes.  If they hand you 10K then take it and make money off it from the bonus and points.  You'll have to manage it a bit at first to keep the UTIL down if you're putting 4K/mo through it unless you pick up the Marriott and shift that over there and keep the other travel expenses on CSR.

 

If you have other Chase accounts just drop by the branch and ask about pre-approved offers and see what comes up on their screen.  Also, sometimes they have hidden increased bonus offers in branch that you won't find online anywhere.

500K+ TCL / 800+ FCOs
Message 2 of 13
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Valued Contributor

Re: Feedback Please!!! CSR App Strategy (hesistant due to a few strategic hiccups)

Apply for the CSR first. You can get UR points from your CSR when booking Marriott stays. You can get the Marriot in 3 months for the SUB. 

Message 3 of 13
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Frequent Contributor

Re: Feedback Please!!! CSR App Strategy (hesistant due to a few strategic hiccups)

Personally I think you should be fine for the CSR, if you bank with chase, do as others have mentioned and drop by and see what pre quals you have. Scores are good and chase usually pulls 2 CR’s 1 is usually Experian and you have a 50/50 shot on the other. For my CSP app chase pulled EX/EQ for my FU they pulled TU/EX.

Starting Score: Jan 2011-600TU 598 EQ
Current Score: 818TU 810EQ 813EX
Goal Score: 800 and higher across the board


Take the FICO Fitness Challenge

Avant 750
US Bank plat 7k
US Bank Cash+ 19k
Chase Sapphire Preferred 20k
Chase FU 6k
BB&T Bright 6.5k
BB&T Spectrum 6.5k
BB&T Spectrum2 9k
Apple Card 10k
Amazon Store Card 10k
NFCU More Rewards 16.3k
Home Depot 5k
Cap1 QS 2k
NFCU Flagship 25k
Tractor Supply SC 3.5k
Lowe’s 7k
Penfed Signature Rewards 15k
Penfed PCR 25k
NFCU Platinum 25k

AU Accounts
Discover 4k
JCP 5k
USAA 12.5k
Chase Southwest 7.9k


Inq's
LOL /12 -24
Message 4 of 13
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Re: Feedback Please!!! CSR App Strategy (hesistant due to a few strategic hiccups)

I went in to a branch as suggested. I decided not to wait for the AMEX CLI to age. Approved for 26.5K! Thank you FICO forum. Was hoping for more but a year ago my score was in the low 600s and would have been happy with the card at all and 10K SLI.

Message 5 of 13
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Valued Contributor

Re: Feedback Please!!! CSR App Strategy (hesistant due to a few strategic hiccups)

26.5K would suggest either SP  or SR approvals.  When I got the SP it was for 25.9K.  Congrats... now to decide on the others before things report.

 

Congrats!

500K+ TCL / 800+ FCOs
Message 6 of 13
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Valued Contributor

Re: Feedback Please!!! CSR App Strategy (hesistant due to a few strategic hiccups)


@CreditResponsibly wrote:

I went in to a branch as suggested. I decided not to wait for the AMEX CLI to age. Approved for 26.5K! Thank you FICO forum. Was hoping for more but a year ago my score was in the low 600s and would have been happy with the card at all and 10K SLI.


Congrats! Which card did you end up getting? CSR or Marriott? 

NM... just noticed your other post!

AMEX | BofA | Barclays | Cap One | Chase | Citi | Discover | GS | PenFed | SYNCB (PP MC, Lowe's, Amazon, PP Credit) | US Bank
Message 7 of 13
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Re: Feedback Please!!! CSR App Strategy (hesistant due to a few strategic hiccups)

Sapphire Reserve. What is an SP vs SR approval?

 

-----------------------------

 

I've always managed credit well, but was credit ignorant. I always thought the less active you are the more banks will value your behavior. I've wasted many good years idly waiting for CLI's that never came. And then by the time I was aware, I got saddled by my significant other. I'm finally on the path to solidifying my credit profile. Thank you FICO forum for all the knowledge. Got me my 3x CLI (15k to 45k) and an 26.5K Sapphire Reserve SLI all in the last month.

Message 8 of 13
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Re: Feedback Please!!! CSR App Strategy (hesistant due to a few strategic hiccups)


@Obscure-Expert wrote:

26.5K would suggest either SP  or SR approvals.  When I got the SP it was for 25.9K.  Congrats... now to decide on the others before things report.

 

Congrats!


I'm thinking of applying for the AMEX business Marriott for 100K SUB and 0% APR for 6 months (this way my hotel expenses don't affect my credit score. They don't report balances/util right?). Or would I be better off applying to CHASE Marriott to add to my personal limits?

 

Any suggestions on what to do next? Should I add another or just start gardening after the Marriott?

Message 9 of 13
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Valued Contributor

Re: Feedback Please!!! CSR App Strategy (hesistant due to a few strategic hiccups)

To mitigate risk and avoid policy issues I would go Amex over Chase.... That way you're maxing out your potential rewards.  

500K+ TCL / 800+ FCOs
Message 10 of 13
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