Planning a Mini app spree

[Anonymous]

Hi guys,

I been gardening and gardening from a year now. Now time is near and I am all set to pull the trigger AND then go back gardening...this time I made my mind that I will be applying for these following products but I am not sure about the sequences on what to app first and how sooner or later I should be applying...🤔
1, for Penfed as a fesher,
2, Applying for Amex Platinum. (didn't have any product yet, but getting pre qualified for magnet, Gold, Everyday and green card )
3, Applying for Ink preffered. (Already have checking acc and fredom card with them since 1 year, 8 months and also have CSP from a year now and a month ago I opened a Business Checking Account with Chase and was pre qualified for all 3 ink cards according to banker )
4, Applying for Capital Venture card. (Pre qulified for Venture, Venture one and Savor)

At the moment my score is 750 with 18% UTi...after 0% UTi it would be 760 by next month hopefully...
I have 5 open accounts
1, Auto loan 100% on time payements so far.
2, Citi card 4,500
3, Citi card 11,000
4, Chase Freedom unlimited 5,000
5, Chase Saphire Preferred 12,000

By next month will app for CLI on Citi cards.

PenFed, Amex, Ink, Capital one...how to approach for these products? Please advise

Thank you so much for your time and effort!

Regards
K

[CreditInspired]

Hi OP and welcome to my FICO

IMHO, applying for 4 cards seem more like a Maxi spree.

Do you know your 3 FICO scores?

If you are preapproved, go for the cards you want, in that order.

GL2U

[Anonymous]

Go for PenFed first. PenFed doesn’t like seeing new accounts or a lot of inquiries. They also might give you a huge limit and curb your idea to go on an app spree. 

Honestly you need to evaluate what you want and need from a credit card and then go from there. App sprees may sound fun but they can catch up with you pretty quickly and you already have some decent cards there so I really wouldn’t advise it. 

But as @CreditInspired said, we would need more of an idea of your FICO scores with each bureau and other data points to be able to give recommendations. 

You are definitely good paying down your utilization to <8.9% and letting that report before applying for a new card. Don’t pay down to 0, leave a few bucks at least, but get your utilization down and then let your scores update showing that change before applying for best results. 

Also with your current cards, you’re likely eligible for much better than Capital One so I wouldn’t throw away a 3 bureau credit pull on them if it was me but I am sure others will chime in who also qualify for those higher tier cards that I don’t

[Shooting-For-800]

I would do PenFed first.

Will you use denefits of $500 AF Amex?

[HeavenOhio]

Don't pay everything to zero. That will result in a lower score than 18% overall utilization. If you wish to optimize your scores, post a balance of $5 or a little more on one card. Or, as mentioned above, less than 8.9% should give you a bump. But 18% should also be fine.

All of the banks you mention except AMEX are sensitive to new accounts. I'd suggest doing Penfed first, then Chase. If the Penfed card puts you over 5/24, do Chase and then Penfed.

Make sure you consider the sign-up bonuses. You want to make sure you're able to meet them without changing your spending habits.

I agree with the posts above saying that four cards isn't "mini." How old are your current accounts?

[Anonymous]

Amex Platinum, venture, plus CSP, seems overlapping a lot. You travel alot to justify this?

[NRB525]

OP, I would not try to go for all these at once.
For one thing, several of them have hefty spend requirement for the SUB. AMEX Platinum is $5,000.

You are already earning a lot of Chase UR points. How are you using those points? As asked, how much do you travel? The Platinum has good perks, but only if you are out there at the airport regularly. Is the AMEX 100,000 MR offer visible to you? You only get one bite at that apple ever, and many people wait a long time to ever see it.

Are you a PenFed member? Maybe I missed it but which PenFed card do you have in mind?

Your scores seem to be doing well, and one more card, the Chase business card, would make the most sense. Consider Product Changing your CSP to CSR. You will pay a higher AF, but will open up many of the same benefits of Platinum without the hard pull. You will also boost points earning immediately.

[UpperNwGuy]

OP, why do you need so many cards?

[Anonymous]

I will be completely new to PenFed so after opening a saving/checking acc with them I want to wait for atleast a month to show them my love😋 and then would like to app for PenFed platinum visa sig + PLOC on a same HP if posible.
these cards that I am planning on are already pre qualified for me. I am also aware of a hefty AF which is on Amex Platinum. Reason of app for Cap Venture is they are being generous with SL.
My scores from all 3 Bureaus are between 750 to 755. Yes, I will try to do AZEO on my cards before app. First after a HP from PenFed I will have time period of a month to app for other three cards but I am not sure what would be sequence after that. These app won't be at the same time for sure as a quick app spree. Please advise

Thank you

[Gmood1]

Apply for your CC when you join Penfed. Forget about that AZEO non-sense. With your scores, it is unnecessary.
I've never used AZEO. You don't need it for CC apps if your scores are already excellent.
I would only use AZEO for a mortgage app. Other than that...waste of time.