Hello Everyone,
I plan to go on an app spree in march. I will have a utilization of 2% on my cards. My AAOA is 1 Year and 9 Months.
I have a 750 - TU
I have a 719 - EX
I have a 690 EQ
I have 3 Cap 1 Cards with a total of $8,000 in credit. My income is $125k / Year
No Lates and No Negs
Please tell me your thoughts on doing this app spree
Amex BCP
Amex Plat
Chase Saphire
Discover IT
Neiman Marcus (Store Card)
Saks (Store Card)
Target
Amazon
What do you guys think? Are those good cards to try with my scores? Thanks!
Are those FICOs or FAKOs scores? Also need to know what you are looking for I.e. cash back, rewards etc. Do you travel, shop, restaurant dining etc.
The Equifax and Trans are Fico the Experian is a Fako - I am a big Cash Back person, I am also big on purchasing clothes and love to dine out and plan to do lots of traveling soon, but not international just domestic.
That is a lot of spending bonuses to hit (over $4,000). Are you going to be able to spend that much within the first 3 months?
@SnackTrader wrote:
That is a lot of spending bonuses to hit (over $4,000). Are you going to be able to spend that much within the first 3 months?
Yes, I can definately spend that in 3 months. So that wouldn't be an issue.
Coincidentally, I'm also considering a mini app spree in March. I plan to take out a car loan in a few weeks but I want to get a few choice cards before the loan shows up on my report as I know the loan will likely drop my score. I will be securing the loan through my credit union so what I will do is app for the cards right after I am approved for the loan.
I have the following cards in mind:
Chase Sapphire
Chase Ink Classic
Amex Hilton Honors
Citi Diamond Preferred
My current util is only 1%, I have $70, 000+ in total credit lines. The biggest factors working against me are the number of inquiries on my report: 12 on EX, 11 on EQ, and 9 on TU over the last 2 years. Some of those will fall off in April. I was trying to hold off until April but I don't think I can wait. I have also opened up a bunch of new accounts within the last 12 months... about 9 in total. I know I may be declined for too many new accounts and inquiries but I figure I'll pull the trigger one last time before I setlle down with the car loan. After that I plan to garden. I guess 20+ tradelines is enough for now. 
@NewYorkGuy wrote:Coincidentally, I'm also considering a mini app spree in March. I plan to take out a car loan in a few weeks but I want to get a few choice cards before the loan shows up on my report as I know the loan will likely drop my score. I will be securing the loan through my credit union so what I will do is app for the cards right after I am approved for the loan.
I have the following cards in mind:
Chase Sapphire
Chase Ink Classic
Amex Hilton Honors
Citi Diamond Preferred
My current util is only 1%, I have $70, 000+ in total credit lines. The biggest factors working against me are the number of inquiries on my report: 12 on EX, 11 on EQ, and 9 on TU over the last 2 years. Some of those will fall off in April. I was trying to hold off until April but I don't think I can wait. I have also opened up a bunch of new accounts within the last 12 months... about 9 in total. I know I may be declined for too many new accounts and inquiries but I figure I'll pull the trigger one last time before I setlle down with the car loan. After that I plan to garden. I guess 20+ tradelines is enough for now.
Well I don't have as many inquiries, I finally got my scores High enough to feel ok with apping. I really want to become part of the Amex Club and want that Sapphire card since its metal and cool. Good luck on your spree! I will def update everyone.
@civilitermortuse wrote:
@NewYorkGuy wrote:Coincidentally, I'm also considering a mini app spree in March. I plan to take out a car loan in a few weeks but I want to get a few choice cards before the loan shows up on my report as I know the loan will likely drop my score. I will be securing the loan through my credit union so what I will do is app for the cards right after I am approved for the loan.
I have the following cards in mind:
Chase Sapphire
Chase Ink Classic
Amex Hilton Honors
Citi Diamond Preferred
My current util is only 1%, I have $70, 000+ in total credit lines. The biggest factors working against me are the number of inquiries on my report: 12 on EX, 11 on EQ, and 9 on TU over the last 2 years. Some of those will fall off in April. I was trying to hold off until April but I don't think I can wait. I have also opened up a bunch of new accounts within the last 12 months... about 9 in total. I know I may be declined for too many new accounts and inquiries but I figure I'll pull the trigger one last time before I setlle down with the car loan. After that I plan to garden. I guess 20+ tradelines is enough for now.
Well I don't have as many inquiries, I finally got my scores High enough to feel ok with apping. I really want to become part of the Amex Club and want that Sapphire card since its metal and cool. Good luck on your spree! I will def update everyone.
I have the Amex Zync for about 5 months now but they've refused to give me one of their revolvers so far. Two of the reasons they give is that I have too many inquiries and too many recently opened accounts. Many of those accounts are from my app spree last year. Most of them will hit the 6 month mark in a few days. My Amex Zync will hit its 6 month mark in March so I plan to do the App Spree after the 6th Amex statement cuts. If I don't get the revolver I'll try again next January for max backdating.
I plan to garden after the spree and the car loan though. I need to allow my current inquiries to fall off.
@civilitermortuse wrote:Hello Everyone,
I plan to go on an app spree in march. I will have a utilization of 2% on my cards. My AAOA is 1 Year and 9 Months.
I have a 750 - TU
I have a 719 - EX
I have a 690 EQ
I have 3 Cap 1 Cards with a total of $8,000 in credit. My income is $125k / Year
No Lates and No Negs
Please tell me your thoughts on doing this app spree
Amex BCP
Not very worthwhile imo, it's good if you like Cash back but remember that the best redemptions are points for hotels and travel. 1 point can get redemptions at 9+ cents per point on the best cards in the market. UR points from Chase, United airline cards etc are amazing for international travel. Domestic travel best is Flexperks by US Bank. imo. Starwood is best for hotels.
Amex Plat
American Express MR points lag way behind for most flights vs United. Although flexibility is nice with any airlines just be warned to get to Asia from America United costs 65,000 on a saver award for round trip, and best way to get that with Amex is to transfer the points to Air Canada / Aeroplan and 75,000 MR points for the same flight. and United miles are MUCH easier to earn with Chase Sapphire, Ink, and Freedom cards. With United Club card you can get 1 free ticket a year to anywhere in Asia for 65,000 for free if you do things right, can't say that with MR points. (Chase UR points transfers 1:1 to United miles)
Chase Saphire
Great card can't say enough about it, compares to the Platinum minus lounge access and global entry for $95
Discover IT
Decent card but personally don't like cash back at all. Although it can workout if nice promotions like ANY online purchase at 5%
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Neiman Marcus (Store Card)
Saks (Store Card)
Target
Store cards are a bad idea they give little to nothing in return compared to other cards, for instance I just recently got a Mileage Plus with United for 50,000 miles sign up bonus + 5,000 for adding an authorized user, and 10k points bonus for spending 25k in a year (very easy for most people if you include mortgage) This itself got me enough points to take 1 free trip across the world.
If you want cash back how about cash you never needed to spend? Use sites like plasticjungle and cardpool to get a nice discount on saks and neiman marcus gift cards 10-25% usually to buy your merchandise at a nice discount
Also you can link up a debit card to Target debit card to get 5% off anyways
Amazon
If you want a Amazon card just get a Citi Forward card 5 point categories includes restaurants, movies, music stores, bookstores (Amazon is classified as a bookstore)
What do you guys think? Are those good cards to try with my scores? Thanks!
OVer all with a 125k income I really doubt a a maximum of $100 cash back ($10,000 spending) is really worth your while. Now if you get 10,000 points that's worth atleast $400-900+ for travel with points.
With Chase Ink, Sapphire, United Club or mileage plus (if you meet 25k a year), Freedom these 4 would add upto $190 annual fee or $490 pick whichever one you want depending on your spending habits, but my breakpoint would be 65k points a year with 30k spending if you use these cards effectively.
