So I found this site recently and have been searching through and reading up on the different threads and have noticed a pattern for different things that I'm not certain about. I figure if I write 1 newbie post with all the questions it might be easier.
Credit Score - Before April of this year, I hadn't applied for a credit card in over 5 years, the last one being for my AMEX required for work. I decided to go for a DiscoverIT card earlier this year for the Balance Transfer deal on CreditKarma, 18 months 0% (6 months purchases) and I'd finally be rid of my closed Bank of America NAIC card that I hated with a passion. I was approved for $10K and I that my paperwork had my Fico Credit Score (30+ pts higher than CS & CK); I just assumed it was a Discover thing. Fast forward to last week when I applied for the AMEX deal I received in the mail (I had actually thrown it out in the recycling bin but after reading here and other places that it's not a bad card went ahead and applied). They also sent me my FICO credit score in the paperwork. Is this required now?
Prime Lender - What is a prime lender and why are they important?
Chase Freedom vs Chase Sapphire Preferred - why do people want both? When I went in for my Chase banking account they wanted me to apply for the Freedom card and I told the banker that I wasn't applying for anything until AFTER I get my car in April. However, I told him that I would want the Sapphire Preferred instead when I did apply.
Chase Freedom vs AMEX Blue Cash Everyday - Theses also seem the same. I opened the BCE cause the $250 cash back deal on $1k was too good to give up. Not happy about the $1k limit but do like the 18 months 0% on purchases so I'm getting a "slight" discount on everything a buy.
All of my cards have either promotional finance charges or balance transfers on them (3.99% until paid off - student loan bal transfer that I am able to still write off the taxes for since I had the documentation; 0% balance transfers; 6 month 7.99% loyalty APR). My AMEX card is the only one that I can use with no worries so I transferred my bills that can be paid using a credit card to it and linked my new chase checking account to it. Whether I PIF or carry a balance for the next 15 months (until the January 2015 statement) it won't matter on that card. I recently moved for a new job and the amount I got for the move barely paid for it since I was given less as I wasn't moving furniture. Since I need to buy furniture (have a bed & frame) and I'm going as minimalistic as I can since I hate my current apartment & will move when the lease it up; I figure I can use the AMEX to get what I need and focus on getting the utilization down on my other cards.
Citibank Mastercard levels - I have a ThankYou and Dividend Mastercard from 2003 and 1997 respectively. I keep reading about different Mastercard levels and I'm curious as to what they are and what the qualifications are for them. I know that Visa only has Visa Signature for the most part but I've never had a Visa Credit Card only a Visa Debit card from BoA for when I went to Europe as I noticed it was accepted more than Mastercard in the places that I went. I know that I won't be able to upgrade my card to a different level until the promotions are applied but I was curious as to what I could upgrade to.
AMEX CLI - Based on what I've read, after 61 days I can apply for a 3x CLI so theoretically I can go from $1k --> $3K --> $9k in 8 months on SP as long as there has been no issues with my account? How regular is the $9k --> $25k as that is a huge jump. I assume, this is all being done online via account management. (edited, 6 months for the 2nd CLI)
Starting Score: EQ FICO 673 (/20/13) * 656 CK/TU (9/2013) * 711 Vantage (9/2013) * 632 CS (9/2013)
Might I suggest you make some paragraphs in your text, and put your questions in a list? It's kind of hard to see what you are asking for exactly. If you list your questons, people can copy and put their answers behind it.
So amex is first one is 61 days then 6 months
Chase is every 61 days on CSP?
Chase is every 61 days on CSP?
@ac921ol
No, you can request a CLI from Chase at anytime. It will be a hp. Conventional wisdom is to wait at least 6 mos so they can see usage /pyt history etc. since it's going to be a HP there's a chance if you wait you might get an auto CLI.
No, you can request a CLI from Chase at anytime. It will be a hp. Conventional wisdom is to wait at least 6 mos so they can see usage /pyt history etc. since it's going to be a HP there's a chance if you wait you might get an auto CLI.
Sorry it was edited properly when I typed it and I didn't bother to look at the preview. It seems as though my javascript blocker was blocking some functionality, fixed.
Ok, I had misread the AMEX CLI and for some reason had though it was every 61 days but it's only 61 days for the 1st CLI and 6 months there after. Based on the AMEX CLI thread there doesn't seem to be a consensus as to wether carrying a balance or PIF matters for the 61 day CLI as it seems to vary.
The score I got on my Discover and AMEX documentation/legalese is an official FICO score based off of the information withing that CRA's info vs the fake scores listed my all the others (EX, CS, CK, TU, Vanguard, EQ).
1. Credit scores are given when you do not receive the best terms or are denied.
2. Prime lender is a term used to reference large national banks I.e. Amex, BoA, Citi, Chase, WF, US Bank, Discover etc
3. The reward value of the UR points is enhanced with the Freedom/CSP combo
4. Chase Freedom has rotating 5% categories, 0% APR for 15 months and no AF
5. MC has World and World Elite. Qualifications are different for each lender.
6. The 3x CLI is not a guarantee. I would definitely review the sticky for more detailed info.
2. Prime lender is a term used to reference large national banks I.e. Amex, BoA, Citi, Chase, WF, US Bank, Discover etc
3. The reward value of the UR points is enhanced with the Freedom/CSP combo
4. Chase Freedom has rotating 5% categories, 0% APR for 15 months and no AF
5. MC has World and World Elite. Qualifications are different for each lender.
6. The 3x CLI is not a guarantee. I would definitely review the sticky for more detailed info.