So Confused

[pip3man]

I'm ready to pull the trigger on a Chase Ritz or Citi Prestige card and Chase Hyatt. Im quite worried about a few things and wanna guage my approval chances. I have two new auto loans, one opened in December 2014 but closed and paid off now. The other opened this March with a high balance of $38k. Then there are two small student loans with a combined balance of $4350 both in deferred status opened in February. Current utilization across the board is 6%. 9 inqs on EX & TU all from May 2014, 5 on EQ. Oldest account is 4/5yrs, AAoA is around 11/12months. Very decent income, no negatives, highest credit limit reported is $5600 for my Macys card. Pls guys do I have a shot at either of these cards or should I fall back as I really dont wanna waste a HP? I tried the prequal on Chase & Citi but for the life of me I never get anything from them. There are tons of vacation coming up this summer and these cards will really be beneficial. Appreciate every feedback, thanks.

[taxi818]

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@pip3man wrote:

I'm ready to pull the trigger on a Chase Ritz or Citi Prestige card and Chase Hyatt. Im quite worried about a few things and wanna guage my approval chances. I have two new auto loans, one opened in December 2014 but closed and paid off now. The other opened this March with a high balance of $38k. Then there are two small student loans with a combined balance of $4350 both in deferred status opened in February. Current utilization across the board is 6%. 9 inqs on EX & TU all from May 2014, 5 on EQ. Oldest account is 4/5yrs, AAoA is around 11/12months. Very decent income, no negatives, highest credit limit reported is $5600 for my Macys card. Pls guys do I have a shot at either of these cards or should I fall back as I really dont wanna waste a HP? I tried the prequal on Chase & Citi but for the life of me I never get anything from them. There are tons of vacation coming up this summer and these cards will really be beneficial. Appreciate every feedback, thanks.

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Well with that profile. should not be a issue what so ever. other than possibly verification. good luck. thats what im going thru with chase right now. im sure you will be fine.

[pip3man]

But then again I been had my Freedom card for a year now and they never CLI'd it from the paltry $500 initial CL. Even worse I use it heavily and always PIF seven out of ten times. Man I hate this ughhh....

[Anonymous]

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@pip3man wrote:

But then again I been had my Freedom card for a year now and they never CLI'd it from the paltry $500 initial CL. Even worse I use it heavily and always PIF seven out of ten times. Man I hate this ughhh....

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I wouldn't base future approval chances on this at all. Chase can be quirky with increases but then hand out high limits on new cards with no issue. Your profile looks great, go for it whenever you feel comfortable.

[taxi818]

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@pip3man wrote:

But then again I been had my Freedom card for a year now and they never CLI'd it from the paltry $500 initial CL. Even worse I use it heavily and always PIF seven out of ten times. Man I hate this ughhh....

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This is becoming more and more common practice from lenders. that first card you got was more than likely border line. so they let you in door. and worst yet. they would not increase it. cap one and others are famous for this. including chase. but seeing this will be your second card. best to go ahead and app. as based on your history with them alone. you will get great SL. 

Then simply transfer that weak freedom limit over to your new card. that is the best thing to do. still am sure no issue with you getting approved.

[FinStar]

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@pip3man wrote:

But then again I been had my Freedom card for a year now and they never CLI'd it from the paltry $500 initial CL. Even worse I use it heavily and always PIF seven out of ten times. Man I hate this ughhh....

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Interesting dilemma...  mister-endowed with a $500 Chase CL

[pip3man]

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@FinStar wrote:

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@pip3man wrote:

But then again I been had my Freedom card for a year now and they never CLI'd it from the paltry $500 initial CL. Even worse I use it heavily and always PIF seven out of ten times. Man I hate this ughhh....

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Interesting dilemma...  mister-endowed with a $500 Chase CL

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Lmfaoooo that had me rolling.... how ironic, ain't it lol. Good one there 

[pip3man]

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@taxi818 wrote:

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@pip3man wrote:

But then again I been had my Freedom card for a year now and they never CLI'd it from the paltry $500 initial CL. Even worse I use it heavily and always PIF seven out of ten times. Man I hate this ughhh....

---

This is becoming more and more common practice from lenders. that first card you got was more than likely border line. so they let you in door. and worst yet. they would not increase it. cap one and others are famous for this. including chase. but seeing this will be your second card. best to go ahead and app. as based on your history with them alone. you will get great SL. 

Then simply transfer that weak freedom limit over to your new card. that is the best thing to do. still am sure no issue with you getting approved.

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Funny enough I wasnt really borderline on the Freedom approval. My scores were well over 720 across the board with no baddies as of the time of application. Surprisingly my APR on the Freedom is 14.9% IIRC. I think it was due to the fact I had only 2 accounts reporting and the guy was prolly having a bad day lol. Hmm someone's got a tough decision to make when I get off work tonight lol. But thanks alot, I really appreciate ya input

[FinStar]

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@pip3man wrote:

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@taxi818 wrote:

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@pip3man wrote:

But then again I been had my Freedom card for a year now and they never CLI'd it from the paltry $500 initial CL. Even worse I use it heavily and always PIF seven out of ten times. Man I hate this ughhh....

---

This is becoming more and more common practice from lenders. that first card you got was more than likely border line. so they let you in door. and worst yet. they would not increase it. cap one and others are famous for this. including chase. but seeing this will be your second card. best to go ahead and app. as based on your history with them alone. you will get great SL. 

Then simply transfer that weak freedom limit over to your new card. that is the best thing to do. still am sure no issue with you getting approved.

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Funny enough I wasnt really borderline on the Freedom approval. My scores were well over 720 across the board with no baddies as of the time of application. Surprisingly my APR on the Freedom is 14.9% IIRC. I think it was due to the fact I had only 2 accounts reporting and the guy was prolly having a bad day lol. Hmm someone's got a tough decision to make when I get off work tonight lol. But thanks alot, I really appreciate ya input

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Best of luck in whichever card you decide to apply later.  If you get a decent SL (>$5000) on Hyatt and/or Ritz, you can always move part of that to your Freedom, then you can show it off