@Anonymous wrote:
@MyLoFICO wrote:I see your point with this but what are you going to recommend he do when he apps the QS1 and get a paltry $500-$1500 starting limit that won't grow fast enough to accommodate his travel this summer? Capital 1 is a great choice of credit building but he will be put on credit steps for sure with limited credit. Why not try to at least jump that line? He is going to be traveling and most likely spending a good bit. He has $15k in savings but nobody wants to spend their travel time making multiple payments and waiting for them to post on Cap1. Sure, he can use his debit card while he waits but that is missing out on cash back rewards the Freedom offers. If he gets declined for the Freedom he can always fall back on the QS1. I would even say app the Platinum too as he will surely get both. I just think it's worth a try to app the Freedom first.
I want it known though that I am no expert. There are others here who know far more than I. This is just what I would do to maximize the use of HP's as well as getting a decent SL if it were me.
yea so that's the thing... I think it's a complex issue... I definitely see your point as well... I can see how another card could benefit in the short term. I don't know if there is a right or a wrong option here. I definitely think you're right... low limit on the only card while traveling stinks and with two cards your history grows faster.
I think what I was thinking is that if he gets the Freedom now, he's kind of pigeon-holed inot his next 2 cards being Freedom Unlimited and CSP... so let's say two years down the road, he has 4 hard pulls (assuming he gts approved on the first try and doesn't have to do it multiple times), 4 relatively new accounts... yea he's earning nice points through Chase that could be a little difficult to redeem and his wallet still doesn't have the essentials (2% CB, dining, BCP for groceries, other cards that he might want/need)
I think chasing points is a "hobby" for those with good credit. I'm a little hesitant to steer someone towards maximizing rewards before building a solid credit foundation... That's just my personal view. I don't think you're wrong in any way here. I definitely see how both of the strategies could have a benefit! I think it's just the order that you want to do things in.
If he had not mentioned travelling and a high savings amount I would be right there with you on the order of things, I think its a aolid plan. I don't know how many INQ's he has and if he has 4, apps the QS1 and gets a $500 SL he is kinda screwed at that point for Chase. But that is an unknown to us so I played Devils advocate and assumed the worse on the number of inq's. If he has 0 then he could app in any order he wants. If he plans on more than one card and has the available inquiries, I would definitely make the Freedom one of them. I know most people go for the trifecta but he sounds like he might not be interested in getting a lot of cards. Of course, he might not have contracted the appaholic bug yet. lol
I don't know guys. He ain't getting no
Chase Bank anything card with a 648 FICO
score. Just my opinion, Chase is very Tough.
It just sounds like a waste of a HP too me.
Stick to the basics, 640 is the Capital One Zone. 
@Anonymous wrote:I don't know guys. He ain't getting no
Chase Bank anything card with a 648 FICO
score. Just my opinion, Chase is very Tough.
It just sounds like a waste of a HP too me.
Stick to the basics, 640 is the Capital One Zone.
or he can get Spiderman on his card? 
seriously though... Marvel could be an easy approval, high credit limits (unlimited SP CLIs) and depending on how much he spends on eating out and entertainment might actually beat some more "mainstream" cards in terms of rewards... plus you limit you inqs as they seem to only pull one agency... only downside is you have the 3% FTF...
It's a tough Call but I'd keep it simple stupid in the
case of a first credit card with only a Student loan
out there as a payment pattern which I read had
a couple misses over time CHASE can be rather harsh and
UNFORGIVING..or let's just say NOT VERY EMPATHETIC. 
@Anonymous wrote:I don't know guys. He ain't getting no
Chase Bank anything card with a 648 FICO
score. Just my opinion, Chase is very Tough.
It just sounds like a waste of a HP too me.
Stick to the basics, 640 is the Capital One Zone.
Well, 648 is that one score. I still say it is worth a try. especially if he prequalified for it. Yes, its a risk but if his lates are far enough back, I think he will be okay. There was a thread recently where a guy got the Freedom cards with a 544. Not sure how true it is but I am digging for the thread now.
I think its possible, Here is a 650 approval
http://ficoforums.myfico.com/t5/Credit-Card-Approvals/Freedom-approval/td-p/4565689
And a 579:
http://ficoforums.myfico.com/t5/Credit-Card-Approvals/WOW-Chase-is-subprime-now/td-p/4560613
@Anonymous wrote:
They're pre-qualified for freedom. I can't believe this is even a discussion still. A 5x card with a bonus will beat out ANY!! 1.5x every day and twice on Sunday. Even if the bonuses are seldom used(which Ruth groceries still ongoing it won't be).
With a thin file WHO CARES ABOUT 1 INQ. That's the sacrifice of building a file. One inq. One.(maybe a double pull).
They have a mid 600 with no credit card. They'll get a boost for each card up until 3. Qs is an OK card but hardly worth it. The only reason I would say to get it is to be the 2nd card In a profile. A second card rust will eventually be relegated to non use.
Even if OP was holing themselves(they aren't)....let's not act like csp+freedom are bad cards to have....at all... csp is widely considered the best travel card and most versatile, you can debate if Is the best but without a doubt I'd say top 2/3. Their score is only going to go up as 1. The lines age 2. The latest age.
Wouldn't be surprised at all if two cards are opened and by October you are crossing into csp territory. Some of the advice here is unnecessarily skittish about one hp and it's just wrong. So wrong.
App for the freedom. App for the qs. If you can find a 3rd card. Get it also to optimize your score. (3 cards is the magic number). Watch your score rise. Congrats your now in prime territory.
Just got maths sake on how the freedom beats qs flt the OP. Let's say you app today and spend 300 over the next two months on groceries(low # I'd imagine). That's $15 In cashback.+ the150 bonus for spend you'll get eventually. 165.
To get 165 in rewards from the qs you'll have to spend... ...$11,000. To get the $15 from that 300 spend in groceries alone? $1000.
Get the freedom. You're pre-qualified, chases prequal is extremely reliable. Hardpull be damned.
1 inq doesn't matter to you. You have no clue how many they have. If they have 10, apping for any chase prime card is futile. But, I agree its worth apping over the QS1 if they prequal.