Chase Trifecta Concern

[Anonymous]

Now that I have 0 new credit cards opened up the past 24 months I was planning on going for the Chase Trifecta starting with the CSP Card.

Currently my utilization is under 10% and I’m anticipating a score of 730 when applying.

My concern is my student loan debt. I owe $160k but it’s in forbearance with monthly payments of $0. My income is $80k but had to put them on freeze because of medical bills. Does the total amount of debt affect applications? I know my DTI is low but having the overall amount higher than my income concerns me. I don’t think it should be a problem but wanted to hear some opinions.

[Anonymous]

No issues at all. Chase will likely instantly approve. I have substantially more student loan debt and never had Chase scared off by it.

FYI - these are the banks that are “spooked” by federal student loan debt, IMO - USAA and AMEX. You can overcome with Amex recon usually.

[kerplunk]

Just remember you can only apply for 2 Chase cards in 30 days. I would apply to the Chase Sapphire Reserve first, and then if approved, Chase Freedom Unlimited same day so you don’t take the double hard inquiry hit.

[SweetCreditObsession]

Best wishes and please let us know how things turn out.

[K-in-Boston]

@Anonymous any reason to choose CSP over CSR?  After the easy-to-use $300 travel credit, the difference in AF is only $55 and you get a lot for that $55, including 50% more earnings on travel and restaurant purchases and 20% more value if you redeem for travel in the UR portal.

[Revelate]

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@K-in-Boston wrote:

@Anonymous any reason to choose CSP over CSR?  After the easy-to-use $300 travel credit, the difference in AF is only $55 and you get a lot for that $55, including 50% more earnings on travel and restaurant purchases and 20% more value if you redeem for travel in the UR portal.

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+1

Fact is if you're really doing anything besides chasing the SUB, CSR > CSP for virtually everyone who can justify getting the Trifecta at all.

Just doesn't take long to break even on the AF difference, and the travel credit applies to so many things I find it nearly absurd how much of my life falls under travel spend for the full bonus.

[Anonymous]

Great point. I’m going to apply for the Reserve once my current billing statements are in. I was just concerns my student debt would interfere. I hung out in the garden waiting for this and just don’t want to get rejected only to wait another few months.

[Anonymous]

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@Revelate wrote:

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@K-in-Boston wrote:

@Anonymous any reason to choose CSP over CSR?  After the easy-to-use $300 travel credit, the difference in AF is only $55 and you get a lot for that $55, including 50% more earnings on travel and restaurant purchases and 20% more value if you redeem for travel in the UR portal.

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+1

Fact is if you're really doing anything besides chasing the SUB, fact is CSR > CSP for virtually everyone who can justify getting the Trifecta at all.

Just doesn't take long to break even on the AF difference, and the travel credit applies to so many things I find it nearly absurd how much of my life falls under travel spend for the full bonus.

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+1 as well
If you base point value on Ultimate Rewards return of 1.25% and 1.5% respectively.  There is NO spending point where the Chase Sapphire Preferred is a better value.  The only reason someone should get the Chase Sapphire Preferred is if you just can not handle paying $450 upfront (You probably shouldnt be spending money for an annual fee card anyways) or you cant get accepted for it.

[Anonymous]

I didn’t realize how versatile the $300 travel credit was. Thought it was just for airline incedentals but it’s for literally everything travel. That makes sense.

[Anonymous]

I want to add those cards to wallet soon but not sure where to start. The only thing stopping me from going CSR first is the current offering for the SPG Amex. SPG points are super valuable and I’m planning on going away in April. I already have Delta miles to cover my airfare but after I use my miles is when I’ll use UR. Not sure if getting the SPG card first makes sense though.

Have 0 opened credit cards past 24 months

714 Fico 8 but next update it’ll be higher as I bought my UT% from 42% to 5% and paid off one loan. Current student loans are at $160k and in forbearance.

My yearly income is $80k