To My Credit wrote:
CarefulBuilder14 wrote:Amex is usually SP...not sure about "always".
Chase is HP...even when you have a $600 CL and $10k+ in deposits.
At least that inquiry falls off in a few weeks, and Discover pays more in interest.
Not sure I understand this part. Which inquiry falls off in a few weeks, and why?
Back when I had about 8 months of credit history, my only cards were:
1. $600 Freedom (Visa)
2. A Discover
3. An Amex
As such, if a merchant only took Visa and MC, my spending power was limited to $600. Not very convenient.
I was a checking/savings customer with something like $10k there. I called Chase and tried to persuade the CSR that a customer with 8 months of Freedom history, no baddies, and $10k in deposits should reasonably be allowed a CL greater than $600 with no HP.
No such luck. A few weeks later, I had a larger purchase looming and decided to take the inquiries (EX and TU) and request a new CL of $3k. I got a new CL of $2k. 6 months later I got a CSP and moved some CL over from that.
My comment was mostly about the EX inquiry. Most of my inquiries are on EX, so I especially like it when those die off. TU and EQ have very few, and I don't really care about those.
Most of my cash I now have in a Discover savings account, which pays more interest than I earned at Chase.