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@myjourney, hmm I didn't know that little fact about Chase - I'll definitely take that into consideration. In general though, why would I regret a new card that I don't use as much (aside from the HP) if there's no annual fee? In my opinion, I feel that aside from the HP and AF, there's little to regret about a seldom used card.
@mkhan1093 wrote:@myjourney, hmm I didn't know that little fact about Chase - I'll definitely take that into consideration. In general though, why would I regret a new card that I don't use as much (aside from the HP) if there's no annual fee? In my opinion, I feel that aside from the HP and AF, there's little to regret about a seldom used card.
Good question (bravo)
I hate to answer a question with a question but everyone's answers could be different
Is it worth the hit to AAoA?
Is it worth possibly getting approved then 3 months later you see a card that fits you spending perfect and want but now are denied for to many recent accounts?
The flip side is you are correct you could get a card and it sit in the SD never used, lowers UTL and only cost you one HP with no AF.
Another question was this card really any good for you or your long term profile?
Only you can answer this.....Lol
Thank you @myjourney for your continued help in this thread, and to @Abby2932 as well for the input! I can see that maybe right now my chances for the CSR are slim to none, but it doesn't hurt to go in-person and see what Chase actually has to say. Also thank you for the mini-lesson on what all could happen upon applying for any credit card. I'm truly grateful.
@SouthJamaica wrote:
@mkhan1093 wrote:Hi everyone,
I'm really looking forward to apply in the near future for the Chase Sapphire Reserve, but the length of my credit is relatively very short (3 years) and my relationship with Chase itself is even younger (~1 mo.). My FICO score at the moment is on the 699/700 border. Would it be a wise move to apply for a low-tier card (e.g. a Discover it or Chase Freedom, etc) just to lower my utilization ratio? I'm hoping this can bump up my score, despite the hard pull it would cause.
Any insight is appreciated, and thank you!
I don't agree with the distinction you draw between what you term "premium" cards and "low-tier" cards. The only thing "low-tier" is a card you don't really need. For some people a card with a $450 annual fee, and travel rewards which need to be redeemed on a particular web site, would be "low-tier" because it's of little value, while others would find it very useful.
I agree with that. I'm a non-traveller, so to me, the regular Freedom and Discover are highly coveted, and I'd have little use for any of the Sapphire's. If i could have any 3 cards in the world and only 3 cards, the regular Freedom and Discover would both make the cut.
@Anonymous wrote:
@SouthJamaica wrote:
@mkhan1093 wrote:Hi everyone,
I'm really looking forward to apply in the near future for the Chase Sapphire Reserve, but the length of my credit is relatively very short (3 years) and my relationship with Chase itself is even younger (~1 mo.). My FICO score at the moment is on the 699/700 border. Would it be a wise move to apply for a low-tier card (e.g. a Discover it or Chase Freedom, etc) just to lower my utilization ratio? I'm hoping this can bump up my score, despite the hard pull it would cause.
Any insight is appreciated, and thank you!
I don't agree with the distinction you draw between what you term "premium" cards and "low-tier" cards. The only thing "low-tier" is a card you don't really need. For some people a card with a $450 annual fee, and travel rewards which need to be redeemed on a particular web site, would be "low-tier" because it's of little value, while others would find it very useful.
I agree with that. I'm a non-traveller, so to me, the regular Freedom and Discover are highly coveted, and I'd have little use for any of the Sapphire's. If i could have any 3 cards in the world and only 3 cards, the regular Freedom and Discover would both make the cut.
I disagree! tier doesn't, at least to me, denote utility, more how easy it is to get. Freedom is an entry level card for Chase, whereas CSR, with a min $10K CL, certainly isn't, and is thus of a higher tier.
@longtimelurker wrote:
@Anonymous wrote:
@SouthJamaica wrote:
@mkhan1093 wrote:Hi everyone,
I'm really looking forward to apply in the near future for the Chase Sapphire Reserve, but the length of my credit is relatively very short (3 years) and my relationship with Chase itself is even younger (~1 mo.). My FICO score at the moment is on the 699/700 border. Would it be a wise move to apply for a low-tier card (e.g. a Discover it or Chase Freedom, etc) just to lower my utilization ratio? I'm hoping this can bump up my score, despite the hard pull it would cause.
Any insight is appreciated, and thank you!
I don't agree with the distinction you draw between what you term "premium" cards and "low-tier" cards. The only thing "low-tier" is a card you don't really need. For some people a card with a $450 annual fee, and travel rewards which need to be redeemed on a particular web site, would be "low-tier" because it's of little value, while others would find it very useful.
I agree with that. I'm a non-traveller, so to me, the regular Freedom and Discover are highly coveted, and I'd have little use for any of the Sapphire's. If i could have any 3 cards in the world and only 3 cards, the regular Freedom and Discover would both make the cut.
I disagree! tier doesn't, at least to me, denote utility, more how easy it is to get. Freedom is an entry level card for Chase, whereas CSR, with a min $10K CL, certainly isn't, and is thus of a higher tier.
Yes of course the commonly understood meaning of "low tier" and "high tier" would be how prestigious and hard-to-get it is, vs "entry level", etc. The point I was trying to make is that one should not concern himself or herself with such considerations. No one cares how prestigious your credit card is. The only consideration should be the extent to which it serves your financial objectives.