Hello everyone, I am new and trying to expand my credit profile across the different companies early so down the line I can benefit. I currently do not have a Chase card and I was wondering what is the best way I should tackle Chase cards. Which card should I get first, second, etc. Do I even need to apply for them in any specific order like the Amex Plat/Gold. I am a college student who does not spend a ton so I am not keen on annual fees and I am not too worried about sign-up bonuses at the moment. I am currently pre-approved for basically every Chase card including the CSR.
@RyeBred wrote:Hello everyone, I am new and trying to expand my credit profile across the different companies early so down the line I can benefit. I currently do not have a Chase card and I was wondering what is the best way I should tackle Chase cards. Which card should I get first, second, etc. Do I even need to apply for them in any specific order like the Amex Plat/Gold. I am a college student who does not spend a ton so I am not keen on annual fees and I am not too worried about sign-up bonuses at the moment. I am currently pre-approved for basically every Chase card including the CSR.
You got some good advice from @coldfusion, @RyeBred. I'll throw my 2-cents worth in.
First, if you're not familiar with 5/24, it's an important factor with most Chase cards. Occasionally, they've let applicants slip through the cracks (such as on the Amazon card lately) but they generally require an applicant to be UNDER (5) new revolving accounts within the past 24 months for approval. This is revolving accounts only, excluding installment loans such as auto loans, student loans, personal loans, or mortgages. Some of our members plan their apps to get approvals from Chase or other lenders that limit new cards based on other new accounts.
Second, you didn't state the age of your cards or your new accounts in 6, 12, 24 months. Beyond 5/24, I would suggest you space new cards out at least six months to increase your odds of approval with a newer file. That may also give you a better starting limit. If all of your three cards are fairly recent, I would even suggest waiting a year or so to apply with Chase. They like to see some history.
Third, I understand about the preference for no-AF cards. In time, you may decide some AF travel cards would fit your spending and lifestyle. For that, Chase has some excellent cards with perks and Ultimate Rewards (UR) points which can be redeemed in their travel portal or transferred to partner airlines and hotels. And the Freedom or INK cards, which earn cash back, can convert their cash to UR points if you hold a UR-earning card like the CSR/CSP, which will magnify their value. (For example, my CFU earns 1.5% in cash but when I move it to my CSR, I can redeem in-portal for 50% bonus so I would be earning 2.25%. If transferred to partners, those points could be worth up to 2 cpp, so 1.5 x 2.0 = 3.0% effective earnings. I mention all of this since, if you start with the Freedom cards such as CFU or CFF, you would be earning good cash back rates and could later use those cards to accelerate your UR point accrual for travel if you so desired. If you think cash back will always be your game, the CFF with 5% in rotating categories is a favorite here. CFU earns 1.5% everything but could average higher overall depending on your spend in the 3% categories such as dining and drugstores or purchase of travel in the Chase portal at 5%. Another favorite card is the Amazon Visa with no AF.
The CSR has a $10K minimum approval and the Chase United Club has a minimum $15K approval, so those two cards would probably be off the table for awhile, even if you were considering AF cards. But CSP has that $5K minimum limit which is more attainable.
When you get ready to venture into travel cards, Chase has some great airline or hotel cards if you want to focus on loyalty to one brand. For examples, the Marriott Bonvoy Boundless, the World of Hyatt, and the IHG Rewards Premier all give some lower elite status levels and a free annual night's stay that completely reimburses the AF and puts a little back in your pocket depending on your redemption. Hotel cards, in particular, are easy to justify with limited travel and don't require flying or taking extended travel.
@RyeBred wrote:Hello everyone, I am new and trying to expand my credit profile across the different companies early so down the line I can benefit. I currently do not have a Chase card and I was wondering what is the best way I should tackle Chase cards. Which card should I get first, second, etc. Do I even need to apply for them in any specific order like the Amex Plat/Gold. I am a college student who does not spend a ton so I am not keen on annual fees and I am not too worried about sign-up bonuses at the moment. I am currently pre-approved for basically every Chase card including the CSR.
Start out with one of the Freedom cards.
