@uncredited wrote:So it's that time again, to ask if it's a good time to apply for the next card, or if it's still too soon given current info and I should hold off another 3 months or more? Some of you probably remember my prior threads, the path to the Citi card, etc, it's been a few months, and it's now time to check in if it's quite time for the next one, or if another 2-3 months wait is best:
FICO8
EQ: 747
TU: 750
EX: 732
FICO Bankcard 8
EQ: 736
TU: 754
EX: 728
FICO 9
EQ: 757
TU: 767
EX: 749
FICO Bankcard 9
EQ: 766
TU: 777
EX: 758
FICO Bankcard 5, 4, 2
EQ: 733
TU: 736
EX: 762
FICO 5, 4, 2 (Mortgage)
EQ: 729
TU: 739
EX: 750
Inquiries:
EX: 1 inq (for Citi account)
EQ: 0 inq
TU: 0 inq
EX is probably the only one that matters more or less for any cards I happen to be considering. It's the lowest because it's the only one with an inqu on it.
TU: No score change across 3 updates since 5/25
EQ: No score change across one update since 6/1
EX: No score change across 2 updates since 6/4.
Thin file. 2 accounts, 1 inqu (EX):
AAoA: 11 months.
AoNA: 4 months (opened late March.)
AoOA: 1 year 5 months
0 installment loan accounts.
0 negatives. Only red flags are:
Short account history
Lack of recent non-revolving accounts.
Income: ~55,000
1 account reporting - Util: 11% of account, <6% total CL.
One note: It loos like EX is showing July payment for Citi, EU and EQ do not yet show it, so Citi may not report until later in the month - EX shows 4 payments, TU/EQ shows 3.
Card to apply for: FNBO/firstbankcard co-brand (WS Store product.)
Previously (back in March, before Citi account) ran a prequal check against Evergreen just to see how they like me and didn't get a prequal, cited reasons were the thin file/age. I had higher scores and 0 inqu then, but had shorter history, less accounts. Citi also had no prequal, but application was successful. Economy was less trashy then, though, so banks may tougher now?
The inqu/account would probably do some damage to EX, but I suppose not much can be done about that.
This particular card has a fixed starting APR at max, so there's no effect on APR from the profile, it's simply not a balance carry card, period.
Not sure if it's relevent but the next card AFTER this one would probably be Chase/Amazon, but that's obviously a number of months away either way.
I don't see anything holding you back.
I would apply for the Chase Amazon Prime first.
I guess you just have to go by what you feel is going to help you attain your credit goals. You seem to be hyper focused on maintaining the highest FICO scores possible, even at the expense of losing out on potential increased earned cash rewards and substantial monthly savings on membership fees. And there's nothing wrong with that if it is your chosen perogative.
Some folks put more emphasis on "finances before FICO" and would take advantage of getting the most savings/bonuses/increased rewards starting at the earliest opportunity, taking the HP hit for the new card app to do so, believing the temporary 5-10 pt score drop is totally "worth it" And yes, sometimes this may result in a denial. But those happen, particularly when building a new credit file, as issuers can be really quirky/inconsistent. It's not the END when/if it happens.
And really, it doesn't matter to anyone else but yourself. If you are striving to attempt be someone who can brag "I've never received a denial on a credit application for which the issuer hard-pulled my credit report", then continue as you have been, being extra cautious and meticulously analyze each purchase/payment/score update/application timing. I can't guarantee that anyone will necessarily hold you in such a higher regard that it will improve your social status much. However, if that is what is necessary to fully satisfy yourself and make you feel as if you have succeeded in a superior way, I'm not gonna argue with your personal theories/reasoning. 😁
As an aside, to receive better advice/comment from members here, perhaps you could elaborate on:
1) Benefits of the Webstaurant Store card and how they will affect your monthly purchases/shipping costs, listing how much your monthly spend has been over the last few months for both, and if you anticipate this spend to remain same, increase, or decrease in near future.
2) Amazon - are you likely going to be spending heavy during Prime Days anyway? Is the increased $200 value bonus w/no minimum spend enticing to you at all? Have you tried the Amazon Prime Signature VISA preapproval yet, if so, what was the result? If not attempted, is there a reason?
With your scores, as well as clean history with 100% on-time pymts/low utilization, it would actually be OK to app for both cards now, letting your score take the 5-10 pt hit simultaneously. Then these 2 newest cards will age together. And you'll be all set, earning higher rewards at both retailers and saving that other $50 per month on WS Plus.
Thanks both so far, and a few thoughts for @Who_wuda_thought :
Well, sure I definitely would rather avoid a wasted inquiry. Not so much for bragging rights or the score hit by itself, but because taking a wasted inquiry would then make it harder/slow down getting the set of cards desired, so for that reason, it seems best avoided. That said, what you propose of doing both now, if that's really realistic, would of course be ideal. Who wouldn't want to get everything they want right away? 
I'm speaking mostly from ignorance, but the impression I've had from here was originally that one every 6 months with a thin file was kinda pushing it to begin with. Then someone suggested doing the 2nd and third together, but others suggested that's too much and to slow it down and not look like credit seeking, thus doing this one 3-4 months after the other. TBH the idea of doing WS and Amz at the same time never even entered my mind until you suggested it, because i thought even doing ONE now was slightly pushing things and people were going to tell me I really should wait a few more months but MAYBE could swing it.
Isn't Chase known for cancelling cards before the first statement because another card was obtianed?
So surely I'd love to jump on your idea. That of course is my ideal, do both now ,get it over with, save more now, and get them both aged sooner. What's not to love? But I think before I'd consider that I'd definitely want a few more opinions on that actually being a good idea, or gotchas involved.
As for the questions on the cards, both are more or less equally valuable, so the order of getting them is more about which bank doesn't like to share more than which is more valuable. Both are probably the only two single-retailer cards that have practical value to me, as they're both my default places to spend, and everything else is spread out at individual vendors, or united by Paypal, which could be a future 5th card, but honestly, I'm not sure I'd want to deal with Sync for a mere 1% on a portion of purchases. That would basically be all the cards I want done with (I'd probably do one or two more total, both to have a larger profile, And for more options/diversity, but nothing really saving me much, or any money.)
WS FNBO: Represents a flat $50 savings a month, The extra 1% isn't bad. Probably saves $150+ extra a year depending on year. $50 SUB, but that's not significant compared to it's main value. Spend should be fairly consistent. Always hard to tell since things change, but that's the prediction.
Amz Chase: Not really spending particularly for prime days (I don't think...) And I don't really seek subs. It's always nice, but I'm more interested in the ongoing value or utility of a card. The 5% savings of my "default" store (other than WS) is the main driver. I haven't done the prequal, largely because I was under the impression FNBO should be first and it was a bit soon for Chase. Also because I didn't know it existed, though I did see the prequal button once, and only once. Arguably WS has more immediate savings built in just due to the flat $50 savings a month I'd pick up, but Amz is also arguably more versatile. I'm not super opinionated on which I should do first (or both?) Definitely interested in additional opinions on all that.
@SouthJamaicaI thought conventional wisdom here was with a thin profile to devenitely wait with Chase, both because 18-24 months is really smarter for them as a minimum, and because they don't want to be the first with a $5000 limit, so if I could maybe get one in before them (current limits $3900 + 4000) it would be a better bet?
@uncredited wrote:Thanks both so far, and a few thoughts for @Who_wuda_thought :
Well, sure I definitely would rather avoid a wasted inquiry. Not so much for bragging rights or the score hit by itself, but because taking a wasted inquiry would then make it harder/slow down getting the set of cards desired, so for that reason, it seems best avoided. That said, what you propose of doing both now, if that's really realistic, would of course be ideal. Who wouldn't want to get everything they want right away?
Isn't Chase known for cancelling cards before the first statement because another card was obtianed?
So surely I'd love to jump on your idea. That of course is my ideal, do both now ,get it over with, save more now, and get them both aged sooner. What's not to love? But I think before I'd consider that I'd definitely want a few more opinions on that actually being a good idea, or gotchas involved.
As for the questions on the cards, both are more or less equally valuable, so the order of getting them is more about which bank doesn't like to share more than which is more valuable. Both are probably the only two single-retailer cards that have practical value to me, as they're both my default places to spend, and everything else is spread out at individual vendors, or united by Paypal, which could be a future 5th card, but honestly, I'm not sure I'd want to deal with Sync for a mere 1% on a portion of purchases. That would basically be all the cards I want done with (I'd probably do one or two more total, both to have a larger profile, And for more options/diversity, but nothing really saving me much, or any money.)
WS FNBO: Represents a flat $50 savings a month, The extra 1% isn't bad. Probably saves $150+ extra a year depending on year. $50 SUB, but that's not significant compared to it's main value. Spend should be fairly consistent. Always hard to tell since things change, but that's the prediction.
Amz Chase: Not really spending particularly for prime days (I don't think...) And I don't really seek subs. It's always nice, but I'm more interested in the ongoing value or utility of a card. The 5% savings of my "default" store (other than WS) is the main driver. I haven't done the prequal, largely because I was under the impression FNBO should be first and it was a bit soon for Chase. Also because I didn't know it existed, though I did see the prequal button once, and only once. Arguably WS has more immediate savings built in just due to the flat $50 savings a month I'd pick up, but Amz is also arguably more versatile. I'm not super opinionated on which I should do first (or both?) Definitely interested in additional opinions on all that.
@SouthJamaicaI thought conventional wisdom here was with a thin profile to devenitely wait with Chase, both because 18-24 months is really smarter for them as a minimum, and because they don't want to be the first with a $5000 limit, so if I could maybe get one in before them (current limits $3900 + 4000) it would be a better bet?
Chase is on a streak of being unusually generous with the Amazon Prime Visa. And I can't imagine why you call it a 'single retailer' card, as -- in addition to 5% on Amazon -- it provides 2% on drug stores, dining, and gas. And it provides targeted quarterly offers as well (this quarter I'm getting 5% on dining and on home improvement stores, and 3% on grocery stores).
Your description of 'conventional wisdom' is off. You are talking about 2 very specific Chase cards, the Chase Sapphire Preferred, and Chase Sapphire Reserve, which are reputed to be a little more restrictive.
Since the increased SUB may go away after Amazon Prime day, now may be the ideal time to apply for the Amazon Prime card. You're probably fine trying for it, though of course there are no guarantees. If the FNBO card saves you $150 year, then getting the Amazon card now with the extra $100 might be worth putting off the other card for a few months. But if the FNBO card saves you $50/month + $150/year, then it's probably more important.
You could try for a both at once, though based on past history I doubt you will. 
@Anonymalous$50/mo + $150/yr. So yeah, that one sits on more money, probably a lot more money, for sure. BUT, as I strongly want both, and the Chase/Amazon one seems to be the one that fluctuates more in how/when they're willing to take applicants and now seems like it's a generous wave, while the FNBO one is probably pretty static in terms of how they evaluate people, I'm certainly willing to change the order.
Of course I want to do both. That's the most tempting/impatient route for sure. Partly because I hate the whole process and want it to be over
My concerns with that are largely based on that would have to look like credit seeing to go from 2-4 accounts at once on a 16 month old file with an AAoA of under a year, and the numerous cited reports here of Chase in particular getting skittish and cancelling after approval with another approval with well more established files than my own. I LOVE the idea, but I can't imagine how any algorithm would like that. Not ruling it out if enough people think it's fine, though.
