Too spree, not to spree, and which to spree on?

[itpromike]

Ok so this is new territory for me... I had awful credit when I was younger (early 20's) but I reduced my credit card limits each to $1,000 (I only have 2 cards), started paying everything on time and payed off my cards to boot. Now my newest scores are as you see in my sig and I've been reading about app sprees and I'm quite intrigued. Until now I"ve been afraid of credit cards ever since the experience I had when I was younger but now I have decent credit, make $125K/year. Because I've had credit issues in the past I adopted the mentality that if I can't pay for it cash then I'm not buying it however my friends keep telling me I need some good credit cards and some reward cards because I"m missing out. So my question is given my credit and income would now be a good time to get some cards and if so which cards would be good to go after and how many cards should one in my standing have? Also the current cards I have; Chase Freedom and BOA Gold, (both with $1,000 limits) should I ask for CLI's? I've read conflicting things about Capital One Venture cards, some people say stay away from Captial One, and some love the venture cards. I've also read that the Venture card application process includes HP's to all 3 credit agencies which I'm not sure is worth it and not sure how it would affect my scores to have it pulled like that. I've also ready about the Barclaycard Arrival card. Lastly although I only have 2 cards with low limits I do have a credit history. Paid off my car last year (never missed a payment), Payed off my mortgage in June (never missed a payment), and I have a new mortgage now (as of December), also I have a student loan I'm paying on (8K left). So what do you guys think? Any input or guidance would be appreciated. Thanks all!

[Creditaddict]

TOTALLY SPREE!!!!

When it comes to Chase I would just apply for 2 new cards and then move some of the CL over to your old 3rd one to balance them out if you want.

BofA I would "maybe" apply for CLI but would probably just apply for a new card also....

The List:

1. Fidelity Amex (2% for EVERYTHING, its my partner and I's every day card because of this) it's FIA which is BofA

2. American Express Blue Cash Preferred for 6% Groceries

3. Discover it - good rotating card and sound bank and if you hit them towards the beginning of your spree they will probably give you an amazing starting limit because they seem to favor less huge CL carriers but won't typically go omg you opened $100k after us, we dont' like you anymore!

4. Barclay Arrival not bad, if you keep util low most likely they won't freak to to much by the app spree (but hit them like 2nd or 3rd on the TU side.

5. Capital One - could be good - we use Quicksilver as our alternate every day card when Amex is not taken but I wouldn't put them on the front of my app spree beecause of the triple pull and the computer system with them can be a little weird and then later on you need EO just to do basic things, so kind of a pain if you don't start with a great limit with them.

6. people love the chase CSP

actually if it was just this list above this might not be a bad order to apply for them in either actually... maybe put chase above the cap1.

[B335is]

Yes i would go for a few more cards across various lenders. Consider the Sallie Mae card from Barclays (don't go for both arrival and Sallie Mae). I agree mostly with Creditaddict 's list, but after having the CSP myself I don't see it as the holy grail others do. Wait for a good bonus for the Venture, like 50k+ points, so you're getting a little extra for that triple pull. I guess it all comes down to what kind of rewards or bonuses you want.

[B335is]

Forgot to add, BoA is good about CLI but it will be a HP. I would ask for $15k if you choose that route - they will counter offer if they cannot fulfill the entire request.

[efranklin23]

---

@itpromike wrote:

Ok so this is new territory for me... I had awful credit when I was younger (early 20's) but I reduced my credit card limits each to $1,000 (I only have 2 cards), started paying everything on time and payed off my cards to boot. Now my newest scores are as you see in my sig and I've been reading about app sprees and I'm quite intrigued. Until now I"ve been afraid of credit cards ever since the experience I had when I was younger but now I have decent credit, make $125K/year. Because I've had credit issues in the past I adopted the mentality that if I can't pay for it cash then I'm not buying it however my friends keep telling me I need some good credit cards and some reward cards because I"m missing out. So my question is given my credit and income would now be a good time to get some cards and if so which cards would be good to go after and how many cards should one in my standing have? Also the current cards I have; Chase Freedom and BOA Gold, (both with $1,000 limits) should I ask for CLI's? I've read conflicting things about Capital One Venture cards, some people say stay away from Captial One, and some love the venture cards. I've also read that the Venture card application process includes HP's to all 3 credit agencies which I'm not sure is worth it and not sure how it would affect my scores to have it pulled like that. I've also ready about the Barclaycard Arrival card. Lastly although I only have 2 cards with low limits I do have a credit history. Paid off my car last year (never missed a payment), Payed off my mortgage in June (never missed a payment), and I have a new mortgage now (as of December), also I have a student loan I'm paying on (8K left). So what do you guys think? Any input or guidance would be appreciated. Thanks all!

---

Before you do a spree, we have to know why you want the cards for. We can't just recommend cards for you without having a idea of the purpose (travelling, everyday card, dining and etc.) And also, I wouldn't take people's views on lenders serious as this site contains a selected group of people ((ppl that tend to watch their credit). And as Cap1 is concerned, I don't like them but I have seen people on in which Cap1 was very generous to and in fact received limits over 10k although not perfect so YMMV with the creditors.

[itpromike]

---

@efranklin23 wrote:

---

Before you do a spree, we have to know why you want the cards for. We can't just recommend cards for you without having a idea of the purpose (travelling, everyday card, dining and etc.) And also, I wouldn't take people's views on lenders serious as this site contains a selected group of people ((ppl that tend to watch their credit). And as Cap1 is concerned, I don't like them but I have seen people on in which Cap1 was very generous to and in fact received limits over 10k although not perfect so YMMV with the creditors.

---

Well honestly on all of my reports it's been listed as a negative impact that I have low credit limits on my cards and I don't have much 'revolving credit'. So I figured a few cards with high limits would help that. Additionally I'd love to learn how to and start aggressively racking up reward points, bonus points, or travel points to use to help with trips I'm going to take this or next year as well as possibly cash back. So over all I guess I'd like to increase my credit scores by increasing my credit limit and amount of credit I have. I'd also like to reap the benefits of using credit and racking up points to redeem for travel and cash back. I'd also like a good card to use as my daily driver. My brother in law buys EVERYTHING with his credit card each month (all bills, groceries, house expenses etc...) and then pays it off at the end of each month. He is racking up points like crazy and using them for trips etc... I'd love to do that as well. Hopefully that helps? Thanks all the input guys!

[itpromike]

Also, would it be better to ask for CLI's from my current lenders before getting new cards or the other way around?

[Creditaddict]

---

@itpromike wrote:

Also, would it be better to ask for CLI's from my current lenders before getting new cards or the other way around?

---

I would ask BofA for CLI online for $20k (they will counter) I would not bother asking Chase for a CLI (I would prefer that INQ to a new chase card and with a probably much higher CL approval, you could then move some... or burn another inq later to try for the CLI)

[Chris679]

Increasing the CL on your current cards can bump up the limits on new cards so yes do that first but you don't want HP and BoA will only do HP. I would get Cap One Quicksilver and Discover It to start. Wait 6 months or so and get Amex BCE then garden. These three of the best cash back cards with no fee.

[Creditaddict]

---

@Chris679 wrote:
Increasing the CL on your current cards can bump up the limits on new cards so yes do that first but you don't want HP and BoA will only do HP. I would get Cap One Quicksilver and Discover It to start. Wait 6 months or so and get Amex BCE then garden. These three of the best cash back cards with no fee.

---

I don't agree at all:

Cap1 will cost you 3 HP's, you could probably get approved for 3 completely seperate cards

and why do people think they need such long history and high scores to get Amex?!

the whole point of a spree is to do it all now and then garden, not get 2 cards and wait 6 months and get 2 more