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Thin File (1 year) looking for third rewards card

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Anonymous
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Thin File (1 year) looking for third rewards card

Hello (and thank you for taking the time to read an apply to this),

I am a 23 year old teacher with no debt, but a thin file. I have two cards: Discover It ($6,200 started in June 2018) and Fidelity Visa ($5,000 started in April 2019). I am looking to get my third card either after my statemnets cut in July or August. My utilization is 1%, I always pay them in full and multiple times each month. My Discover Transunion is 730, Discover Experian 715. The most hard inquires on any report in last 12 months is two. I wanted to get one of these three cards next (listed in order of preference): Chase Freedom, Wells Fargo Propel, and Chase Amazon. I want to have all three by this time next year. However, I really want the Freedom and Propel the most. Does anyone have any insight on my chances for the Propel? I have a stong feeling I would get approved for Freedom, but would be curious to know what my starting credit line would be? Because I really would like a starting limit that is at least 4k, with the chance of an auto cli later on to take it over 5k. As I am a teacher and my income is 61k a year. Thanks for the insight!

Message 1 of 15
14 REPLIES 14
Anonymous
Not applicable

Re: Thin File (1 year) looking for third rewards card


@Anonymous wrote:

I wanted to get one of these three cards next (listed in order of preference):

Chase Freedom,

Chase Amazon.

Chase in general wants to see 1 year of activity, which from your post looks like you're on the cusp of with Disco

I would go for both of the Chase cards as priority #1 because of the 5/24 rule that excludes you from applying if you add 5 cards (primary/AU) in the prior 24 months.  Including these 2 you would be at 4/24 already.  Also, Chase will most likely be a double pull of EQ/EX.

 

Wells Fargo Propel,

WF is somewhat easy.  Some will say you need an account w/ them to apply but, it's simply not the case and in some cases it's not in your favor to have one as there have been a few denials based on the account holder having one.  They might get a little finicky if you have multiple inq's showing at the time of applying.  When I applied they pulled EX but, it's not set in stone who they will pull.

 

I want to have all three by this time next year.

You should be able to pull off all 3 by the end of summer if you space them out a little bit. Like go for your preferred Chase in July and then in August go for the 2nd and Propel at the same time and call it quits for 6-12 months.

 

However, I really want the Freedom and Propel the most.

Then aim for Freedom first and Amazon 2nd.

-- When I picked up Amazon I also picked up CFU at the same time on the same day.  Things have changed w/ Chase though and that's why I menitoned timing earlier.

 

Does anyone have any insight on my chances for the Propel?

I would say they're good.

 

I have a stong feeling I would get approved forFreedom, but would be curious to know what my starting credit line would be?

No idea.  Sometimes we guess $500 and end up being $20K+.  It all depends on what they see and if they think you're going to be profitable to them.  The nice thing about Chase is when you have multiple accounts you can shoot them a message online and shuffle your CL around painlessly.  To get an increase with Chase it's well known they're stingy for CLI's and most of us just apply for another new card and shuffle the limit around instead since it's a HP either way.

 

Because I really would like a starting limit that is at least 4k, with the chance of an auto cli later on to take it over 5k. 

You're rolling the dice with any approval being X $ in CL.  There's no real rhyme or reason you get a 20K approval or a 7500 approval.  It's all based on what the bank is looking for.  The example is what happened with a couple of recent apps in the same week.  If it's not high enough at approval there's always the option of calling them and asking for more for a potential HP for the increased amount.  I did this w/ Barclay's on the Uber that was approved for 11K and bumped it to 25K w/o another HP since I called the same day.


 

Message 2 of 15
pinkandgrey
Senior Contributor

Re: Thin File (1 year) looking for third rewards card

If the Chase Freedom is the card you want most at the moment, I would definitely go for that one first. Chase doesn’t like to see other new cards. You have at least a year of credit by the sound of it, so I don’t think it would be out of reach for you. I got the Freedom a long time ago with less history than you have and far less income. 

Also, if you get approved for the Freedom, I would wait a few months before trying for any other card. Chase has been known to “check in” on customers after approvals. 

Good luck! 

Discover It: 21.5k
Amex Cash Magnet: 18k
Fidelity Visa: 13k
Apple Card: 4.25k
Message 3 of 15
Anonymous
Not applicable

Re: Thin File (1 year) looking for third rewards card

You don't have many INQs, so not much damage trying app for 2 or 3.

 

Freedom's next quarter bonus sucks, maybe look into freedom unlimited, it has a 3% first year earning rate.

 

I would also give propel a try, it has a very broad bonus category, you can also save the points until later when you have a wells fargo visa for better redemption values (There is a 15 months waiting between wells fargo cards, 6 months if you forgo welcome offers, so best to start early).

Message 4 of 15
Anonymous
Not applicable

Re: Thin File (1 year) looking for third rewards card

You already have a card with rotating categories, do you really want the Freedom too?

Message 5 of 15
Anonymous
Not applicable

Re: Thin File (1 year) looking for third rewards card


@Anonymous wrote:

You already have a card with rotating categories, do you really want the Freedom too?


There's no harm in having 2 lenders with opposing categories.  Many people do.

 

Where it gets fun is when you have cards where you get to select the caragories like Cash+, BOA, BBVA, and so on.

Message 6 of 15
AverageJoesCredit
Legendary Contributor

Re: Thin File (1 year) looking for third rewards card

If Chase is a goal card, always , or should say, usuallySmiley Wink, go for it due to 5/24.

Propel is an excellent card but i wouldnt say WF is easy lol , otherwise we'd see more approvals for that card or them.

Id say go Chase 1st, go for Propel in 6 monrhs, 3 if you cant wait for Santa, then treat yourself to the Amazon for Valentines lol. Good luck.
Message 7 of 15
Anonymous
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Re: Thin File (1 year) looking for third rewards card


@AverageJoesCredit wrote:
If Chase is a goal card, always , or should say, usuallySmiley Wink, go for it due to 5/24.

Propel is an excellent card but i wouldnt say WF is easy lol , otherwise we'd see more approvals for that card or them.

Id say go Chase 1st, go for Propel in 6 monrhs, 3 if you cant wait for Santa, then treat yourself to the Amazon for Valentines lol. Good luck.

More people seem to get the Propel than get denied for it. There have been more than a few who got it that definitely shouldn’t have based on their profile. The denials I usually see are people who have WF accounts and don’t have money in them. I’m sure it’s skewed since a lot of people only post approvals and not denials but it does seem like it’s not too hard to get. 

Message 8 of 15
Anonymous
Not applicable

Re: Thin File (1 year) looking for third rewards card

Thanks everyone! I read about chase closing accounts of new users when they apply for other credit cards. How long until I would be safe? I do not want to go too fast! And since I already have a Fidelity card at 2% unlimited, I want rotating to max my rewards. And I travel a lot for work (I recruit teachers to come to Florida for my school district), so the propel really intrests me. However, I read early on there was a lot of people getting denied for it when it came out. Did they just start getting easier lately? 



Message 9 of 15
SBR249
Established Contributor

Re: Thin File (1 year) looking for third rewards card


@Anonymous wrote:

Thanks everyone! I read about chase closing accounts of new users when they apply for other credit cards. How long until I would be safe? I do not want to go too fast! And since I already have a Fidelity card at 2% unlimited, I want rotating to max my rewards. And I travel a lot for work (I recruit teachers to come to Florida for my school district), so the propel really intrests me. However, I read early on there was a lot of people getting denied for it when it came out. Did they just start getting easier lately? 




I'd say waiting 2 months after a Chase app is probably OK, 3 months if you are paranoid. 

 

As for WF Propel, I don't know how strict their UW standards are. WF is my primary bank and I get solid APR pre-approval letters from them for the Propel card every 2 weeks or so it seems, it appears that they try extra hard to sell that stuff. I just hope they haven't actually already opened one for me behind my back. Smiley Very Happy

 

Finally for the Chase Amazon card, maybe it's just because I'm logged in and already have one but I don't see any SUB GC offers on the webpage. I'd keep an eye on that webpage for good GC offers and pounce when it comes up. Alternatively, if you really only want a card primarily for Amazon shopping (so not Whole Foods), also consider the AmEx Business Amazon card. Same 5% CB at Amazon, maybe not many random offers like the Chase one but current has a $125 GC SUB and I've seen that as high as $150 in the past. 

 

PS: btw, is it a hard sell trying to convince teachers to move down to FL? I would have thought the great weather would sell itself Smiley Happy

Message 10 of 15
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