Successful Fidelity Amex app

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Sevenfeet
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Successful Fidelity Amex app

Postby Sevenfeet » Tue Feb 26, 2013 10:46 am

Well I decided to go ahead and pull the trigger on the Fidelity Amex application I had been planning. I decided today for a few reasons.

1. My balance transfer from my Amex Platinum to my Penfed PRV had gone through and reported to credit bureaus.
2. My new Penfed card existence has not reported to credit bureaus yet (outside of the initial HP)
3. FIA Card Services, which controls the Fidelity Amex and my current BofA Cash Rewards card should have my current BofA card balance even though the balance transfer with that card to Penfed hasn't reported to the credit bureaus yet.

I was approved over the phone for a $17.5K CL. I asked them to round that to an even $20K and they said they would get back to me.

So to recap:

As of 1/16/2013:
Amex Platinum
BofA World Mastercard ($13.5K CL)
Chase Slate ($13.5K CL)

Today:
Amex Platinum
BofA Cash Rewards Mastercard ($20K CL)
Chase Freedom ($25K CL)
Fidelity Amex ($17.5K CL at least)

Still on the conquer list:
US Bank Cash + (wife app)
Discover IT (wife app)
Amex BCP (I'll probably do this, maybe today...they wouldn't turn down a Platinum card holder, would they?)
Cards:
American Express Platinum (NPSL)
Penfed Platinum Reward Visa ($28K)
Chase Freedom Visa ($25K)
Fidelity American Express ($20K)
American Express Blue Cash Preferred ($20K)
Bank of America Cash Rewards MasterCard ($20K)
Citi Thank You Preferred Visa ($9.5K)
Chase Sapphire Preferred ($7.5K)
US Bank Cash + Visa Signature ($7K)
Discover IT ($4K)


MemberSince99
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Location: WI

Postby MemberSince99 » Tue Feb 26, 2013 10:55 am

Congrats those are some very nice limits and good cards you have.

Sevenfeet
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Posts: 532
Joined: Thu Jan 17, 2013 7:20 pm
Location: United States

Postby Sevenfeet » Tue Feb 26, 2013 11:02 am

Thanks. I went ahead and looked up the $250 reward offer on creditcards.com to apply for the BCP card but the link between their website and Amex isn't working right now. If I just call up Amex, then the reward is $150. I guess I'll have to be patient and wait for the systems to come back online (grrrr).
Cards:

American Express Platinum (NPSL)

Penfed Platinum Reward Visa ($28K)

Chase Freedom Visa ($25K)

Fidelity American Express ($20K)

American Express Blue Cash Preferred ($20K)

Bank of America Cash Rewards MasterCard ($20K)

Citi Thank You Preferred Visa ($9.5K)

Chase Sapphire Preferred ($7.5K)

US Bank Cash + Visa Signature ($7K)

Discover IT ($4K)


FutureBillionaire
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Location: Down South

Postby FutureBillionaire » Tue Feb 26, 2013 11:10 am

I wish I would have known about the 250 bonus. I only got 150 offer for mine.
Gas: Discover It, Penfed Platinum Rewards x2, Chase freedom, Citi TYP
Plane tickets: CSP
Groceries: AMEX BCP, Penfed Platinum Rewards,Citi TYP
Clothes: Express, Amex BCP, Discover IT
Amazon: Citi Forward, Cash +
Restaurants: Citi Forward, Chase Freedom, Discover IT, CSP
Hotels and other travel: Discover Escape, CSP
Movies: BofA travel rewards visa signature(fandango), Discover IT, Citi Forward, Freedom
Bars, clubs, tomfoolery: CSP, Citi Forward, Discover IT, Freedom
Balance transfers: Kroger 123 rewards
Bill Pay: Chase Ink Plus, Citi Forward
Everyday spending: Bofa Accelerated cash rewards amex, Discover Escape

Sevenfeet
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Posts: 532
Joined: Thu Jan 17, 2013 7:20 pm
Location: United States

Postby Sevenfeet » Tue Feb 26, 2013 2:27 pm

Actually, my list of cards should read:

Amex Platinum
BofA Cash Rewards Mastercard ($20K CL)
Chase Freedom ($25K CL)
Fidelity Amex ($17.5K CL at least)
Penfed PRVisa ($28K CL)

Total CL = $90.5
Cards:

American Express Platinum (NPSL)

Penfed Platinum Reward Visa ($28K)

Chase Freedom Visa ($25K)

Fidelity American Express ($20K)

American Express Blue Cash Preferred ($20K)

Bank of America Cash Rewards MasterCard ($20K)

Citi Thank You Preferred Visa ($9.5K)

Chase Sapphire Preferred ($7.5K)

US Bank Cash + Visa Signature ($7K)

Discover IT ($4K)

FutureBillionaire
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Posts: 1589
Joined: Sun Jun 19, 2011 2:37 pm
Location: Down South

Postby FutureBillionaire » Tue Feb 26, 2013 2:38 pm

Sevenfeet wrote:Actually, my list of cards should read:

Amex Platinum
BofA Cash Rewards Mastercard ($20K CL)
Chase Freedom ($25K CL)
Fidelity Amex ($17.5K CL at least)
Penfed PRVisa ($28K CL)

Total CL = $90.5


Do you get value from the Platinum?
Gas: Discover It, Penfed Platinum Rewards x2, Chase freedom, Citi TYP
Plane tickets: CSP
Groceries: AMEX BCP, Penfed Platinum Rewards,Citi TYP
Clothes: Express, Amex BCP, Discover IT
Amazon: Citi Forward, Cash +
Restaurants: Citi Forward, Chase Freedom, Discover IT, CSP
Hotels and other travel: Discover Escape, CSP
Movies: BofA travel rewards visa signature(fandango), Discover IT, Citi Forward, Freedom
Bars, clubs, tomfoolery: CSP, Citi Forward, Discover IT, Freedom
Balance transfers: Kroger 123 rewards
Bill Pay: Chase Ink Plus, Citi Forward
Everyday spending: Bofa Accelerated cash rewards amex, Discover Escape

Sevenfeet
Centurion Member
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Posts: 532
Joined: Thu Jan 17, 2013 7:20 pm
Location: United States

Postby Sevenfeet » Tue Feb 26, 2013 2:54 pm

FutureBillionaire wrote:Do you get value from the Platinum?


For Delta Sky Club access, yes. I also expect to use the Global Entry benefit this year as well.
Cards:

American Express Platinum (NPSL)

Penfed Platinum Reward Visa ($28K)

Chase Freedom Visa ($25K)

Fidelity American Express ($20K)

American Express Blue Cash Preferred ($20K)

Bank of America Cash Rewards MasterCard ($20K)

Citi Thank You Preferred Visa ($9.5K)

Chase Sapphire Preferred ($7.5K)

US Bank Cash + Visa Signature ($7K)

Discover IT ($4K)


Sevenfeet
Centurion Member
Centurion Member
 
Posts: 532
Joined: Thu Jan 17, 2013 7:20 pm
Location: United States

Postby Sevenfeet » Tue Feb 26, 2013 3:05 pm

Well, it looks like my Amex BCP application (including the $250 bonus for spending $1000 in 3 months) was also approved for the tune of a $20K.

So the field now looks like:

Amex Platinum
Amex BCP ($20K CL)
Fidelity Amex ($17.5K CL at least)
BofA Cash Rewards Mastercard ($20K CL)
Chase Freedom Mastercard ($25K CL)
Penfed Platinum Rewards Visa ($28K CL)

Total CL = $110.5K (up from $45K on 1/16/13)

Not bad for in five weeks. My AAoA will drop sharply but my utilization will fall from 95% (five weeks ago) to 67% (this morning) and finally 33% (this afternoon). I'm heading back for the garden but I still have my wife's apps to do before we are through. If she gets approved for her stuff, my overall utilization should drop to an estimated 25%.
Cards:

American Express Platinum (NPSL)

Penfed Platinum Reward Visa ($28K)

Chase Freedom Visa ($25K)

Fidelity American Express ($20K)

American Express Blue Cash Preferred ($20K)

Bank of America Cash Rewards MasterCard ($20K)

Citi Thank You Preferred Visa ($9.5K)

Chase Sapphire Preferred ($7.5K)

US Bank Cash + Visa Signature ($7K)

Discover IT ($4K)

MemberSince99
Centurion Member
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Posts: 4776
Joined: Sun May 20, 2012 4:35 pm
Location: WI

Postby MemberSince99 » Tue Feb 26, 2013 4:40 pm

You are really doing great in every area except one - utilization. I'm not being a MyFICO guy, 33% is not THAT terrible but the amount in this case it looks like over 30k, I would feel buried alive with that much revolving debt on me. Your situation is probably different though and for your income maybe it's not a big deal. And you have some great cards with fantastic limits so congratulations to you! Great job Sevenfeet!

Sevenfeet
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Posts: 532
Joined: Thu Jan 17, 2013 7:20 pm
Location: United States

Postby Sevenfeet » Tue Feb 26, 2013 6:08 pm

Thanks MemberSince99. The debt load right now is about $45K total (so the utilization is about 40%, my mistake on the calculations...the line of credit we moved funds from to Penfed is on my wife's report, not mine). Trust me, I don't like having that much debt out there either. From a money standpoint, it's causing us to live in a way that makes our budget tighter than I would like.

We moved $28K to the Penfed in order to burn down the most toxic of it (i.e. the highest interest rates) in the next 18 months or so of 0% goodness. After that, what will remain will be the Chase card, which has an interest rate low enough that I can park $15K there now without incurring a large interest rate payout.
Cards:

American Express Platinum (NPSL)

Penfed Platinum Reward Visa ($28K)

Chase Freedom Visa ($25K)

Fidelity American Express ($20K)

American Express Blue Cash Preferred ($20K)

Bank of America Cash Rewards MasterCard ($20K)

Citi Thank You Preferred Visa ($9.5K)

Chase Sapphire Preferred ($7.5K)

US Bank Cash + Visa Signature ($7K)

Discover IT ($4K)



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