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Newbie looking for help!

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whyem
New Member

Newbie looking for help!

Hi everyone,

I am a 27 hear old who just started his credit history over a year ago. I started with a Capitol one card and now I have a discover it card. I am actively trying to build up a credit history and wish to soon get some of the "prime cards".

 

I have a credit score of 717. The other day I raised my credit line of 700 to 1250 on my discover it card. I have a couple hard inquiries due to this. I have been responsible and have been paying my bills on time.

 

I now wish to branch out and get a new card! I have my eyes on chase sapphire but I really doubt I will be approved for this. So what do you guys think? What card would be best for me to get next? Cash back and rewards are my main priority so I am considering the Amex blue card or the freedom chase. Do you guys think I will have a problem getting either or? Do I have a chance of maybe even getting the chase sapphire?  I would like chase sapphire most and would love to get a much higher line than 1250.

.

Please keep in mind I just started my credit history over a year ago, have a 717 score and the highest limit I have is 1250$.

Thank you in advance!!

Message 1 of 10
9 REPLIES 9
CarnegieS
Regular Contributor

Re: Newbie looking for help!


@whyem wrote:

Hi everyone,

I am a 27 hear old who just started his credit history over a year ago. I started with a Capitol one card and now I have a discover it card. I am actively trying to build up a credit history and wish to soon get some of the "prime cards".

 

I have a credit score of 717. The other day I raised my credit line of 700 to 1250 on my discover it card. I have a couple hard inquiries due to this. I have been responsible and have been paying my bills on time.

 

I now wish to branch out and get a new card! I have my eyes on chase sapphire but I really doubt I will be approved for this. So what do you guys think? What card would be best for me to get next? Cash back and rewards are my main priority so I am considering the Amex blue card or the freedom chase. Do you guys think I will have a problem getting either or? Do I have a chance of maybe even getting the chase sapphire?  I would like chase sapphire most and would love to get a much higher line than 1250.

.

Please keep in mind I just started my credit history over a year ago, have a 717 score and the highest limit I have is 1250$.

Thank you in advance!!


Welcome to the forum! Smiley Happy

Discover is a prime lender so you already have 1 prime card down! I don't think you are likely to obtain the CSP because the lowest credit limit they hand out for that is $5,000. With that being said chase likes to see a year of credit history before they will consider you, and your have that! Therefore my recommendation is to apply for the freedom and start a good relationship with chase! The freedom and CSP make a good pair so one day when you can get the CSP you will still be able to make great use of your freedom. With a $200 signup bonus going you have picked a good time to show interest in that card. 

 

I do have to question though and that is what is your current utilization and when did you obtain the it card? Also where did you obtain your credit score? Did you get it from your Discover statement?


Amex Delta Gold: $5400| BofA Better Balance: $1500 | Sallie Mae: $1300 | Discover It: $500
719 TU, 685 EQ, 728 Ex.
Entered the garden : 5/8/14
Message 2 of 10
whyem
New Member

Re: Newbie looking for help!

Thanks carnie!

 

I got my discover card about 10 months ago.  Utilize is about 30%.  I check my score on creditkarma and the discover website, both of which use transunion.  In my short credit history I already have 3 hard inquiries so I am bwing very picky with my next card.  I really want to pick one with a much higher credit limit than the 1250 I have now.  Discover it and freedom seem to be very similar so I'm leaning towards the Amex blue cash but what you say about building a relationship with chase makes a lot of sense as well.  Maybe even a sallie Mae card?

 

hmm..this is pretty fun deciding though Smiley Happy

Message 3 of 10
whyem
New Member

Re: Newbie looking for help!

Btw I meant the regular chase sapphire not the preferred sapphire.

Message 4 of 10
CarnegieS
Regular Contributor

Re: Newbie looking for help!

Amex seems to like low utilization so here is what I would recommend you do before applying… Get your score in the best shape possible by using 1-9% of your available credit on one card and 0% on the other. About two months ago I was hovering around the same score as you, but once I got my discover card to report 1% utilization I received a 50 point score jump! If you have the funds to pay down the discover now go ahead and do that, after you have it paid down you can then go to their live chat and ask them to do a mid-cycle update (that way you don’t have to wait an entire month before applying!). Once you have all of that done you will be in a much better position to apply for AmEx. If you want to go for the sallie mae card go for that as well! I was able to land an amex and the next day I decided to go for the sallie mae. Amex gave me my highest limit, and I also have the opportunity to do soft pull CLI’s at 61 days, and every 181 days after that!  

 

As far as the regular sapphire goes I can’t really comment on that, but I’m sure someone else will chime in!


Amex Delta Gold: $5400| BofA Better Balance: $1500 | Sallie Mae: $1300 | Discover It: $500
719 TU, 685 EQ, 728 Ex.
Entered the garden : 5/8/14
Message 5 of 10
Creditaddict
Legendary Contributor

Re: Newbie looking for help!

1. I would apply for the Blue Cash or the new Blue Everyday.

2. I would then apply for Chase Freedom followed right after with CSP (you should have no issue getting freedom and I almost don't think you will have issue getting csp but do freedom first so you for sure get that.

Message 6 of 10
mongstradamus
Super Contributor

Re: Newbie looking for help!


@whyem wrote:

Btw I meant the regular chase sapphire not the preferred sapphire.


Just so you know with regular Chase sapphire you cant transfer points over to airline and hotel partners. Out of curiosity why did you want the chase sapphire?



EX Fico 804 11/16/16 Fako 800 Credit.com 11/16/16
EQ SW bank enhanced 11/16/16 839 CK fako 822 11/16/16
TU Fico discover 10/19/16 814 Fako 819 Creditkarma 11/16/16
Message 7 of 10
whyem
New Member

Re: Newbie looking for help!

Carnie, wow I can get a jump like that today just by paying my bill off now?  I'm going to do that right away thanks!

 

credit addict, I can apply for 3 credit cards right back to back to back like that?  I have 3 hard inquiries already but if you say it won't matter than I will definitely do that! I'm guessing I should wait till I get approved for my freedom first though?

 

mongstradaumus, I plan on doing a lot of traveling in the near future.  I work on a laptop so traveling is no problem.  But truthfully it's more of a vanity thing.  I find the card to be beautiful and the reward system isn't so bad.  Smiley Happy

 

 

Message 8 of 10
Creditaddict
Legendary Contributor

Re: Newbie looking for help!

Yes back to back the 3 apps, 3 Inq's is not a big deal especially since you said your monitoring TU right? Chase and Amex will pull ex.
Message 9 of 10
ExplicitElicit
Established Contributor

Re: Newbie looking for help!

You should have no problem bring approved, my scores where lower than yours when I was approved.

 

My Fico EX was an 702 when approved for my Amex.

 

The freedom you should have no problem being approved for, my AAoA was also a lot shorter than yours at the time. If you are going to get the Sapphire I would really recommend the preferred version. Though it has an annual fee the benefits are much greater! When approved for you Freedom if you get approved for over 5K then you should have no problem with the CSP.

 

An App spree will not hurt you, once you obtain these cards just go to the garden and take care of them and work on cli's in the coming months.

Message 10 of 10
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