Looking for a new set of cards - Update: Freedom Approved

[Anonymous]

Hey everyone,

I recently got serious with credit building over the past year and currently have my TU/EQ around 700 with EXP around 670. I am looking for a new set of cards because I travel for leisure 3-4 times every year. I got a discover miles card (CL 6750) back in college in 2014 and a Kay Jewelers card (1500) in the same year. I never been late on my discover nor of my KJ, however I did have a BOA cash rewards from 2012 until 2015 when BOA closed the card after 90 days past due. First Deliquency on that account was March 2015. I wasn't aware they closed the account after 90 days past due(didn't have a job, unpaid intern ), even though it was noted on my account that there was a scheduled automated payment in June 2015 (planned to use my grad money) for half the balance.  Not gonna go into detail but I unfortunately just didn't prioritize this account since it was closed so I had a few slip ups and have had a few recent lates. Aug 17'-Sept 17' and March 18' since.  I have since completed my last payment to BOA in Nov 18' with the account listed as "Pay as agreed" on my credit.

Call me stupid but I really did not understand how detrimental late payments are on your CS until this past summer. Everytime I get notified by credit karma that i fell behind, i just went back and paid it and saw my payment history at 100% once I did. I figured "welp its off my CR because as far as I know my payment history says 100%" I know I'm an idiot. 2022 cant come soon enough

Anyway I received the targeted offer for the Amex gold once the changes occurred in Oct and was approved. It was my first CC that I applied for in over 4 years! So I currently have the following

Amex Gold NPSL

Discover It Miles -> CL $6750

Kay J (This is insignificant but w.e) -> CL $1500

Util 23% on Discover

Util 0% on Kay

Total Util across is 19%

I recently opened a checking account with Chase in December. Do I stand a chance with any of their cards? In addition, any other travel cards you guys recommend with my info below. Thanks in advance for the help!

-James

Mod note:  I've updated your subject to reflect your approval; feel free to change/edit if you would like.  --UB

[FinStar]

Chase might be a little iffy with those lates, especially the recent ones.

I see that you have the Miles CC + AmEx Gold, are there any travel benefits or perks that you are looking for that aren't available or offered with those 2?

[Anonymous]

Hey man thats for the response.

The Discover It miles is basically a 1.5% cash back card so i really can't get outsized value. A lof of the benefits of Discover cards have been taken away so the card is actually worse than having a Capital One QS because more people take visa. 

I actually love my Amex Gold card but unfortunately Its in my luggage when I travel ebcause its not significant outside the US. So I'd love to get into the Chase cards.

I just checked my "Just for You" and saw prequalified, without green check marks, for the Slate, CF and CSP at 25% APR for each -_-. Wondering if I should pull the trigger on the slate or the CF. 

[FinStar]

The 'Just For You' are technically not pre-qualified offers unless it explicitly shows the product(s) that you're pre-approved for, especially without a green checkmark.

You're welcome to roll the dice if you wish though.

[xaximus]

Congrats on taking hold of your finances. A few things to keep in mind - 30 day lates impact for about upto 2 years. Every month that passes, the impact decreases. What I would be more concerned with is the 60/90/120 day lates that impact for the full 7 years. I would suggest the GW saturation method to see if maybe someone might grant a late Xmas gift. Never hurts to try but as always YEMV.

Also - I didn't see any of your scores listed. That would be useful to know. I would suggest (again based on scores), Amex and Cap1 for starters. As far as Chase goes, YEMV but I personally don't think it's a good idea. With the recent lates + the 90 day late, they may decline. Who knows, you may get approved but chances are, it'll be a small limit. Chase is usually known to be conservative.

[SouthJamaica]

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@Anonymous wrote:

Hey everyone,

I recently got serious with credit building over the past year and currently have my TU/EQ around 700 with EXP around 670. I am looking for a new set of cards because I travel for leisure 3-4 times every year. I got a discover miles card (CL 6750) back in college in 2014 and a Kay Jewelers card (1500) in the same year. I never been late on my discover nor of my KJ, however I did have a BOA cash rewards from 2012 until 2015 when BOA closed the card after 90 days past due. First Deliquency on that account was March 2015. I wasn't aware they closed the account after 90 days past due(didn't have a job, unpaid intern ), even though it was noted on my account that there was a scheduled automated payment in June 2015 (planned to use my grad money) for half the balance.  Not gonna go into detail but I unfortunately just didn't prioritize this account since it was closed so I had a few slip ups and have had a few recent lates. Aug 17'-Sept 17' and March 18' since.  I have since completed my last payment to BOA in Nov 18' with the account listed as "Pay as agreed" on my credit.

Call me stupid but I really did not understand how detrimental late payments are on your CS until this past summer. Everytime I get notified by credit karma that i fell behind, i just went back and paid it and saw my payment history at 100% once I did. I figured "welp its off my CR because as far as I know my payment history says 100%" I know I'm an idiot. 2022 cant come soon enough

Anyway I received the targeted offer for the Amex gold once the changes occurred in Oct and was approved. It was my first CC that I applied for in over 4 years! So I currently have the following

Amex Gold NPSL

Discover It Miles -> CL $6750

Kay J (This is insignificant but w.e) -> CL $1500

Util 23% on Discover

Util 0% on Kay

Total Util across is 19%

I recently opened a checking account with Chase in December. Do I stand a chance with any of their cards? In addition, any other travel cards you guys recommend with my info below. Thanks in advance for the help!

-James

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Are you sure those are FICO scores? Usually when people say EQ & TU, but don't mention EX, they're referring to Credit Karma's Vantage 3.0 scores rather than FICO scores.

The score on your Discover card website is a true TU FICO 8 score.

[Anonymous]

Yes! Those scores are based on my CC scores which use FICO 8 (Discover for TU, AMEX for EXP) and the EQ I purchased a month ago.

I appreciate all the advice. I will try and pull the trigger on the slate and try to PC to the freedom in 5-6 months and see if that works.

FICO 8

TU (Discover) -> 705

EQ( Purchased from equifax) -> 688 (not sure if FICO 8)

EXP (AMEX) -> 674

[Anonymous]

Update

Walked in the branch, had my eyes set on the Slate. He recommended the slate for me based on what I shared with him (above). 

After talking for a good 10 min asked if i was pre-approved for anything and he noticed that I was pre-approved for the CF, CFU and the slate. I decided to  shoot for the freedom and was instantly approved for $4800.

Sheesh doubt I would have known anything if it wasn't for this forum and the people who consistenly contribute their knowledge and experience so thank you to everyone.

I hope anyone who is reading this with a similar situation decides to take a chance (I have a total of 8 lates since 2015). I wondering if I should ask to reconsider for a higher CL since i know their CLI are difficult to ge ton chase cards but ill decide in a few days.

[Priory_Man]

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@Anonymous wrote:

Update

  I wondering if I should ask to reconsider for a higher CL since i know their CLI are difficult to ge ton chase cards but ill decide in a few days.

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Congrats on the approval, the 4.8k is a good SL. I would just go with it unless it is really important for you that you have a higher SL. 

Sometimes asking for too much too quickly can set you back a little.

[Meskini]

Congratulations on Chase approval