Advice for next card. Thin file. 3/24

[Anonymous]

Hi Everyone,

I have been working on building my credit from scratch over the past year. With the help of studying these boards, (Thank you myFICO community!) my scores are in good shape, but I have a thin file. I am currently at 3/24. (Disc; Cap1 Plat Sec; Amex Gold)

If possible, I could use some advice for what my next moves should be. 

My Initial plan ...

Option 1: Apply for Chase Freedom (or)CFU as my 4th card this coming month  to get in the door. (Check in branch if I pre-aprov.) ...after 4-5 mo's apply for Chase Ink P; and round out with the CSP after 6 mo's.  

Would I have any chance with going directly to CIP next? and CFU later? or just skip the Freedom for now and concentrate on CIP and CSP next two cards? 

Option 2: Would it help my file to get a NFCU Card in the 4 spot and let the CL grow a bit to help raise my SL with Chase?  Does Chase take Credit Union Card Limits into account when they decide SL's? 

Option 3: Would putting an Amex revolver in the 4 spot and 3x CLI to help my Chase SL's be a better option? (Although, I would much rather just have a 2% BBP  card instead of a personal.)

Edited - Additional Info:

I have had my business checking account with Chase for the past 8 years.  Being a freelancer, this account has seen it's ups and downs throughout the years. In 2/19 I unfortunately was overdrawn for 30days. ...Other than that, I mantain 15 - 35k in this account. 

Would having a Chase Business account relationship help with getting a personal card? I do not have any pre qual offers online. 

Any thoughts on any of this is really greatly appreciated.  

Thanks so much in advance!

*Side note, 2 of any 5/24slots will open up 11/20. 

Cards interested in:

Chase: CFU (for the 3% first year upgrade) (or)CF; CSP (or CSR)  

Chase Biz: CIP (No foreign transaction fee)  (Currently have NO pre qualify offers with Chase or Chase Biz)

Amex Biz: BBP  (for the 2%) ; Amazon Prime (5%)

My info below: 

46yrs old; Income: $60,000. Self employed, freelance.

Fico8 scores (as of 1/7/20): Experian - 769; Equifax - 790; TransUnion - 775

Age of oldest account:  1 yr 2 mo. 

AAOA: 11 mo 

Utiliz: 2%

Discover it: $3100. (Opened 11/18, secured - graduated 7/19)

Capital One Plat Secured: $1300. (Opened 11/18)

NFCU SSL: Paid down to 8%  (Opened 3/19)(Joined NFCU 1/19)

Amex Gold: (Opened 6/19; average spend $7-9,000 per mo.)

Business Checking: Chase (8yrs - Average 25k  in '19) (30 day Overdrawn 2/19)

Personal Ch/Sav: NFCU (1/19, 7k+)

No Bads; No lates; PIF ea. mo.; HP's only for above accounts; No other debt.

[Anonymous]

Option two or option three. Chase doesn’t want to see a file as young as yours, normally. Now, if you had an established banking relationship, maybe.

Wait until your oldest account is definitely over two years before you try Chase.

[Anonymous]

As a matter of fact you could probably swipe the NFCU and the AmEx.

[MrPepperoni]

Just in case if this is helpful, I was approved for CFU as my second card with scores around 720 at the time and 8 month history. Check my signature for more details.

[Anonymous]

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@Anonymous wrote:
Option two or option three. Chase doesn’t want to see a file as young as yours, normally. Now, if you had an established banking relationship, maybe.

Wait until your oldest account is definitely over two years before you try Chase.

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Hi Birdman,

Thanks for the response and advice. I actually just edited my post to include my (8yr) Chase Biz Checking account stats.  Though, I have never recieved any offers through my account.  (I just got my first fico score last Feb.) 

Do you think this would help getting me aproved for the Freedom since that is considered thier starter card? I have heard of some CF sucess stories with similar files. But, idk. 

[Anonymous]

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@Anonymous wrote:
As a matter of fact you could probably swipe the NFCU and the AmEx.

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I see where you are going with this, If I wait until the end of the year, I will still have two 5/24 slots open anyway. So if I really wanted I could add 2 non chase cards and use the time working on raising my overall CL. Interesting thought.

[Anonymous]

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@MrPepperoni wrote:

Just in case if this is helpful, I was approved for CFU as my second card with scores around 720 at the time and 8 month history. Check my signature for more details.

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Hi Mr,

Ok... This gives me a glimmer of hope actually. I have heard many stories similiar to your aproval & stats. Thanks for this! It is helpful.

[Anonymous]

I would go for Option 1. Your file should be prime for a Chase Freedom or CFU card while you are under 5/24. And then the CIP or CSP. After that, you can always go for NFCU and Amex, since they don't care about 5/24.

[Citylights18]

The x3 for 20,000 spend/12 months on Chase Freedom Unlimited is nice.....I'm still under my bonus albeit by 1,000 dollars and I was approved for the card on 6/7/19. 

Since its been a full 12 months you could also upgrade that Capital One Platinum Reserve to a Quicksilver 1.5% cash back or maybe a Savor if you go in branch. The AF version of the Savor is 4% dine and the non-AF is 3% dine.

[Citylights18]

Chase SL is mostly tied to income. Then certain cards have more SL like the CSP with a minimum of 5,000.

Then once you have the card and PIF for 120 days they should grant you an auto CLI so don't worry about the starting limit. Unless you don't think you can make the SUB with those limits. They could start you tiny with a Freedom so it might be better just pulling the trigger for the CSP.

CSR is a waste of time at a AF of $550 unless you plan to gorge yourself on the airport lounge benefit. CSP has the bigger SUB bonus as well with most of the same insurance protections.