Should I abstain from obtaining any CC for Chase???

[captainsensation]

I was in the same boat. I didnt have a good enough score at the time so i focused on the other cards i wanted first. Nothing in life is guaranteed. I figured that getting the other cards now would help beef up my credit score and if all i wanted later was chase then i could just work with what i have and get chase later. Having the Amazon rewards visa means i am in the chase network and i will live with that until my other inquiries fall off.

[coldfusion]

I'm solidly in the "Chase is a good bank with good cards" camp.  They're the ones that gave me my 1st Big Bank card after I got out of school and I've always had at least 1 active card with them ever since (right now I have 4).

That being said, consistent with a "Finances over Ficos" strategy, I also think that your focus should be on what card or cards work best for you, not necessarily because of the issuer.  There are lots of good banks and credit unions with good cards to choose from and I could count on one hand the number of times someone has ever commented on the card I've handed them (other than "We don't accept American Express").

[RSX]

getting 5 cards in December isn't just affecting your ability to get a Chase card - it has other impacts on your Credit Score, that waiting 9-12 months will help resolve as well

not judging - i did a spree last Feb/March - but i am still digging out score wise - i have a bunch of accounts turning 2 and another bunch turning 1yr old in Feb - with associated Inq dropping off as well

so i think a application pause for at least 6 months is a good call

[mgood]

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@coldfusion wrote:

There are lots of good banks and credit unions with good cards to choose from and I could count on one hand the number of times someone has ever commented on the card I've handed them (other than "We don't accept American Express").

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There are lots of people on the internet who seem to believe that having/using certain cards is a status symbol. In the real world, I don't know anyone impressed by any card other than the Amex black card, because a lot of people have heard about it. I could almost run out of fingers on one hand counting the times someone has commented on my Discover card because it looks like a cassette. Other than that, I can't remember anyone commenting on anyone's card.

[Anonymous]

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@mgood wrote:

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@coldfusion wrote:

There are lots of good banks and credit unions with good cards to choose from and I could count on one hand the number of times someone has ever commented on the card I've handed them (other than "We don't accept American Express").

---

There are lots of people on the internet who seem to believe that having/using certain cards is a status symbol. In the real world, I don't know anyone impressed by any card other than the Amex black card, because a lot of people have heard about it. I could almost run out of fingers on one hand counting the times someone has commented on my Discover card because it looks like a cassette. Other than that, I can't remember anyone commenting on anyone's card.

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I suspect that outside big cities, and affluent regions, some people might still be impressed by an Amex Plat, because again they have heard of it.    We know here that [trigger warning: hyperbole] you can get it if you or a family member have ever had a pulse, but.....

And that leads to "so what".   There are times you might want to impress, for business or romance/friendship, or to con someone.

But the clerk at a suburban Walmart, or the waitperson at Chipotle?   No so sure!   

And on the romance/friendship: is someone shallow enough to be (wrongly) impressed by a card that worthwhile?  And for business, someone who doesn't know how easy the card is to get may not be a due diligence kind of contact.   For conning, yep, that's good!

[mgood]

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@Anonymous wrote:

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@mgood wrote:

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@coldfusion wrote:

There are lots of good banks and credit unions with good cards to choose from and I could count on one hand the number of times someone has ever commented on the card I've handed them (other than "We don't accept American Express").

---

There are lots of people on the internet who seem to believe that having/using certain cards is a status symbol. In the real world, I don't know anyone impressed by any card other than the Amex black card, because a lot of people have heard about it. I could almost run out of fingers on one hand counting the times someone has commented on my Discover card because it looks like a cassette. Other than that, I can't remember anyone commenting on anyone's card.

---

I suspect that outside big cities, and affluent regions, some people might still be impressed by an Amex Plat, because again they have heard of it.    We know here that [trigger warning: hyperbole] you can get it if you or a family member have ever had a pulse, but.....

And that leads to "so what".   There are times you might want to impress, for business or romance/friendship, or to con someone.

But the clerk at a suburban Walmart, or the waitperson at Chipotle?   No so sure!   

And on the romance/friendship: is someone shallow enough to be (wrongly) impressed by a card that worthwhile?  And for business, someone who doesn't know how easy the card is to get may not be a due diligence kind of contact.   For conning, yep, that's good!

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My best friend has spent a lot of time working in bars and restaurants. He's seen lots of Amex gold and platinum cards and was not even aware of any status associated with them before I started talking credit cards with him. He can recount in detail the couple of times he was handed a black card. I think the first one was a professional baseball player who impressed him more than the card. But he knew what the card was as soon as he saw it, even though it was the first one he'd seen.

[Janneman]

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@RSX wrote:

getting 5 cards in December isn't just affecting your ability to get a Chase card - it has other impacts on your Credit Score, that waiting 9-12 months will help resolve as well

not judging - i did a spree last Feb/March - but i am still digging out score wise - i have a bunch of accounts turning 2 and another bunch turning 1yr old in Feb - with associated Inq dropping off as well

so i think a application pause for at least 6 months is a good call

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I dont have any problem score-wise...After obtaining 5 cards, my score is down only for 6 points...and I still have score in mid 800 across all credit reports...So, score is not the issue over here...

The only question in hand is- is it worth waiting for two years for Chase card and deprieve myself big CL from other lenders who might offer much better cards with much higher CL??

[Janneman]

@coldfusion 

I totally agree with you that there are much better cards out there....Thanks

[nytokyobred79]

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@Janneman wrote:

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@RSX wrote:

getting 5 cards in December isn't just affecting your ability to get a Chase card - it has other impacts on your Credit Score, that waiting 9-12 months will help resolve as well

not judging - i did a spree last Feb/March - but i am still digging out score wise - i have a bunch of accounts turning 2 and another bunch turning 1yr old in Feb - with associated Inq dropping off as well

so i think a application pause for at least 6 months is a good call

---

I dont have any problem score-wise...After obtaining 5 cards, my score is down only for 6 points...and I still have score in mid 800 across all credit reports...So, score is not the issue over here...

The only question in hand is- is it worth waiting for two years for Chase card and deprieve myself big CL from other lenders who might offer much better cards with much higher CL??

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I've been thinking similarly to you. My last app which put me at 5/24 was my CFU( 2nd Chase card) that I got 8/22. I would like to get my hands on either the Prime or perhaps, one of the hotel cards at Chase. I'll be at 4/24 this Dec and 3/24 next Jan. I'm gonna lay low for the year especially since I have gotten 5 cards in about a 12 month period from 12/21-8/22. Garden a bit and then probably app for that new Chase card January next year. Or go for something different as I'm thinking to continue diversifying my lenders. 

Good Luck with your plan. 

[AnonHobo]

Although you do need to wait until January 2025 to apply for a Chase card, you don't need to abstain from applying for any card until then.

Right now you will be 5/24 until Dec 2024 and then 0/24 in Jan 2025. However, you could apply for a card in Jun 2023, Dec 2023, Jun 2024, and Dec 2024 and be 9/24 at the end of Dec 2024 but 4/24 in Jan 2025 and able to apply for a Chase card.