My Final App discussion

[Anonymous]

Hello

Since my scores have exploded (yay) I'm now considering my (sooner than I expected) app spree.  Card desire criteria (in order of importance)

1. Rewards, points/cash, flexibility- don't travel much, but travel benefits would be nice, and perhaps travel rewards could provoke more travel
2. High Limits, or at least greater ease of getting a higher limit down the road (considering my score going from like 620 to nearly 800 in probably two years, I'm curious what my starting CLs will be).  This is primarily for utilization purposes and it impresses lenders. 
3. A variety of card processors (do we call them something else on credit forums?) I'd like to have one from each network, Amex, Discover, MC, Visa
4. Fringe Benefits (WEMC, Signature - granted they are mostly travel)
5. Sign Up Bonus
6. Card Appearance/Prestige 
6. Low APR (Generally will PIF, but for emergencies it's good)
7. I'm not a big fan of AF, but if benefits are worth it...

What I have planned so far, in app order:

1. Sallie Mae (I don't have a student loan to pay, but this seems to be a pleasant card and I do spend a lot on groceries, Amazon, etc.) I hear Barclay is inq conscious. 
2. Amex BCP (again, lots of grocery spend, I know 75 AF)...6% groceries is nice.  I hear Amex is inq conscious as well.
3. Discover IT 
4. A Chase card, Freedom - but, this years' categories aren't that impressive, are they generally similar from year to year?  Been eyeing the Amazon Rewards Visa. too.  I'm not completely hung up on Chase, but they are a big bank and seem to have alright cards. 

I think I'm on citi's blacklist from a charge off when I was like 20...I remember getting mailers when I was 18-20, but haven't gotten any in years.  Besides their cards aren't that impressive it seems.

It seems TU is an unpopular bureau in my area, so I'm kind of thinking Sallie will be a throwaway pull - and since my scores are/will be in "excellent" bracket, I'm wondering if any will do multiple pulls otherwise - unless it's their internal policy to do so, regardless.  

Now, do these new TL update to my CR *instantly*?  Because, I can submit the apps all within like 10 seconds.  And, if you think I can go for a 5th...let me know which one.  I'm not trying to trash my current ~ 8 year AAoA way too much...but I do need some new TLs.  AAoA is propped up by closed Chase and CapOne cards opened in 2004 and 2005, with currently open Target Store card open 1/2009 and CapOne QS1 opened 8/2010.  I'm expecting a significant AAoA hit, regardless. 

Thanks, please comment away!

[Anonymous]

Oh, and is app'ing for the BCP out of the blue, never having an Amex a bad idea?  If I do app, and am denied for some reason, can I call and have them recon me into the BCE or something? 

[chwebb1]

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@Anonymous wrote:

Oh, and is app'ing for the BCP out of the blue, never having an Amex a bad idea?  If I do app, and am denied for some reason, can I call and have them recon me into the BCE or something? 

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Apping without an invitation is how I got both my Blue Cash Everyday and Blue Sky. I'd say go for it. As far as BCE vs BCP, the underwriting is the same. So if you're not approved for one, you won't be approved for the other.

[eagle2013]

1) Good line-up.

2) Put each application in a different tab and apply for them at once. New TLs generally don't report until at least two weeks after approval, however, some (BofA, Citi) are known to report very quickly (days). 

3) AMEX is NOT inq sensitive for excellent scores (like you have)

4) Citi cards are not worth HPs, except for their co-branded cards, maybe (AA, Hilton). So don't worry about BL.

5) 99% Chance Sallie Mae will be ONLY a TU pull

6) Try to PC your CP QS1 to a no-AF one. Also request a CLI on both your target and CapOne (it's a SP). If a secure message for Cap 1 PC/CLI doesn't work I think you'll have a good chance if you email the executive office.

7) I'm also on the fence about Chase amazon myself. I have a SM, and do spend in drugstores, so it's nice to have that 2% benefit. Also thinking that SM will go the route of Citi Forward and nerf the 5% Amazon bookstore benefit. At this time, for me it's not really worth the HP, or the $60 credit to apply. 

Good luck!

[DrMac210]

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@Anonymous wrote:

1. Sallie Mae (I don't have a student loan to pay, but this seems to be a pleasant card and I do spend a lot on groceries, Amazon, etc.) I hear Barclay is inq conscious. 
2. Amex BCP (again, lots of grocery spend, I know 75 AF)...6% groceries is nice.  I hear Amex is inq conscious as well.
3. Discover IT 
4. A Chase card, Freedom - but, this years' categories aren't that impressive, are they generally similar from year to year?  Been eyeing the Amazon Rewards Visa. too.  I'm not completely hung up on Chase, but they are a big bank and seem to have alright cards. 


It seems TU is an unpopular bureau in my area, so I'm kind of thinking Sallie will be a throwaway pull - and since my scores are/will be in "excellent" bracket, I'm wondering if any will do multiple pulls otherwise - unless it's their internal policy to do so, regardless.  

Now, do these new TL update to my CR *instantly*?  Because, I can submit the apps all within like 10 seconds.  And, if you think I can go for a 5th...let me know which one.  I'm not trying to trash my current ~ 8 year AAoA way too much...but I do need some new TLs.  AAoA is propped up by closed Chase and CapOne cards opened in 2004 and 2005, with currently open Target Store card open 1/2009 and CapOne QS1 opened 8/2010.  I'm expecting a significant AAoA hit, regardless. 

Thanks, please comment away!

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Last week I apped for the Chase, Amex Delta Gold, Discover IT, Sallie Mae Barclay and Lowes all in a two hour window..... and was approved for all of them with similar scores to you.

I believe the inquiries are updated in real time, however the accounts are not.

Sallie Mae and Lowes both reported two days laters, the other three have yet to report as of today.

[NoAnchoviesPlease]

I recently updated my wallet, similar criteria to yours (although "appearance/prestige" was below "low APR" for me).

Inquiries will probably appear on your record very soon (automated alerting to you may not report them for a day or two). 

Tradelines will NOT appear anywhere near instantly. Some may report quickly, others may not report until your first statement cuts. 

Out of Sallie Mae, Discover It, Chase CSP, and Citi AA Plat Select, only Sallie Mae has reported to my CRs within 4 days. Just a data point. I applied for most of them in a 2 hour window, had to call in for CSP, did Sallie Mae the following evening (so it was the last one applied for and the first to show up on my reports/alerts, also the last of 6 INQs but the only one on TU). My previous two cards reported with the first statement, 2-3 weeks later, so I'm kinda expecting that 

My inquiries were 3x EX (including a Chase CLI on existing card), 1 each EQ and TU.  EX was my best score so I'm lucky my wish list was aligned with the stars that way.  

My guess is that you can't count on submitting within seconds (Discover, for example, did the 5-questions-from-your-credit-report thing) but if you apply within the same day you'll probably be fine. Do it within an hour if it makes you feel better.  

Chase Freedom is nice, not a best-of-everything card but it is pretty good with 1%CB on everything, and the categories aren't bad (they do seem to repeat though). 

If you think you might travel, Chase Sapphire or CSP might be worth a look, as opposed to a travel-vendor-specific card like AAdvantage or SWA or the like. You can use the points for other stuff if you don't end up traveling, but you have the option and possibly extra discounts/benefits if you do use the points for travel. Consider the Chase checking+Freedom+CSP combo that's been discussed around here a few times for some extra benefits if your spend justifies the CSP AF (I'd get the checking account first if you do that, as apparently the AF is lower for current customers). 

And another thing I did that I recommend... save a copy of the offer you apply for, and the terms and conditions. This was the first time I ever applied for cards with signup bonuses, and I made a list of which ones had what bonuses and what the ongoing benefits were. Helps me plan my card use (i.e. low FTF, extra points on groceries, free shoeshine with return of empty bottles, what have you). Also helps me put a CL in perspective. 20k CL at 24% APR with no benefits might not be as useful as 8k at 14% with cashback and intro APR promo. Although when I go for credit again in a year that 20k CL will look nice. 

[cobbson]

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@eagle2013 wrote:

1) Good line-up.

2) Put each application in a different tab and apply for them at once. New TLs generally don't report until at least two weeks after approval, however, some (BofA, Citi) are known to report very quickly (days).

3) AMEX is NOT inq sensitive for excellent scores (like you have)

4) Citi cards are not worth HPs, except for their co-branded cards, maybe (AA, Hilton). So don't worry about BL.

5) 99% Chance Sallie Mae will be ONLY a TU pull

6) Try to PC your CP QS1 to a no-AF one. Also request a CLI on both your target and CapOne (it's a SP). If a secure message for Cap 1 PC/CLI doesn't work I think you'll have a good chance if you email the executive office.

7) I'm also on the fence about Chase amazon myself. I have a SM, and do spend in drugstores, so it's nice to have that 2% benefit. Also thinking that SM will go the route of Citi Forward and nerf the 5% Amazon bookstore benefit. At this time, for me it's not really worth the HP, or the $60 credit to apply. 

Good luck!

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Never thought of #2 when applying for two or more cards. Would seem logical when seeking more than one card to keep inquiries down for other card(s) being applied for at the same time, as I assume inquiries show up almost immediately. Does it work or is it overkill?

[parakleet]

Inquiries show up in real time so I doubt that doing any browser tricks will make a difference. 

[gh17]

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@cobbson wrote:

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@eagle2013 wrote:

1) Good line-up.

2) Put each application in a different tab and apply for them at once. New TLs generally don't report until at least two weeks after approval, however, some (BofA, Citi) are known to report very quickly (days).

3) AMEX is NOT inq sensitive for excellent scores (like you have)

4) Citi cards are not worth HPs, except for their co-branded cards, maybe (AA, Hilton). So don't worry about BL.

5) 99% Chance Sallie Mae will be ONLY a TU pull

6) Try to PC your CP QS1 to a no-AF one. Also request a CLI on both your target and CapOne (it's a SP). If a secure message for Cap 1 PC/CLI doesn't work I think you'll have a good chance if you email the executive office.

7) I'm also on the fence about Chase amazon myself. I have a SM, and do spend in drugstores, so it's nice to have that 2% benefit. Also thinking that SM will go the route of Citi Forward and nerf the 5% Amazon bookstore benefit. At this time, for me it's not really worth the HP, or the $60 credit to apply. 

Good luck!

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Never thought of #2 when applying for two or more cards. Would seem logical when seeking more than one card to keep inquiries down for other card(s) being applied for at the same time, as I assume inquiries show up almost immediately. Does it work or is it overkill?

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This is what I did on my recent spree, haha.  Applications were put through within seconds.  No idea if it helped.  Probably not, but you never know.

[bada_bing]

I have 3 of the 4 cards on your list. I think Sallie Mae is a good for a universal recommendation.

I don't see how anyone couldn't use it within it's categories and caps to good advantage.

BCP is good if you have enough grocery spend to make the AF work. BCP competes with SM for

grocery spend though if you don't spend enough. I really like Amex and if I didn't have the BCP I'd

get an Amex account just to be onboard with them, probably an ED.

Freedom is a card I thought I'd use more than I do. I like Chase as a bank, but I don't have enough

category spend left over from other cards to get much benefit from Freedom. If I didn't already have

it I wouldn't app for it. If you can claim any sort of business use,  Ink cash is a good no fee card with

5% on cell phone, internet, cable and office supplies. For me the Ink is a much more useful card than

freedom. Ink was an easier and higher limit approval for me than freedom, both required a identity

verification call. I do have a legit side business and schedule C income, but they never asked at all.

Good luck whichever way you go.