Simultaneously doing multiple CC applications

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Losangeles
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Location: Los Angeles, CA

Simultaneously doing multiple CC applications

Postby Losangeles » Fri Mar 15, 2013 1:25 am

Some basic background info:

I'm 20, have about a year and a half of credit history and a 743 fico (not fako). The current balance on my (only) credit card is like $8/$800

Last inquiry was in july of last year (when I wasn't aware that a high utilization was bad for your credit) and was denied. I have a two other inquires last year but they were in march/april while I was apartment hunting

So, I really want to apply for the Chase Sapphire Preferred Card. I have heard about a few people in similar situations getting approved, but in most cases they had at least 1 other card.

Would it be a good idea to apply for two cards at the same time, because there are some cards (chase freedom or BA chase card) that I am pretty positive I would be approved for. So that if I got denied for the CSP, that I might be approved for another card? I really need a card with no foreign transaction fees (I'm always in Mexico + I am going to Sweden, France and India in the next 18 months).

I do eventually wanna apply for the BA card, but I want to wait to see if they have another promotion with 100,00+ avios (current offer is 50k avios).

Any advice would be appreciated.

Thanks :cool:
Citi Forward - $800 (12/11)
Citi ThankYou Preffered - $3,500 (3/13)
Chase Freedom - $3,500 (3/13)
Barclay Apple Card - $2,000 (8/14)


mattymatt808
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Postby mattymatt808 » Fri Mar 15, 2013 3:27 pm

CSP could be pretty unlikely since the lowest limit they issue is $5000 and I've heard that Chase is more comfortable matching limits that other banks have already given you. I agree that you have a great shot at the Freedom though. As far as your travels, I know people aren't huge fans of Capitol One here but all of their cards have no foreign transaction fees, so you could go with something basic like the Capitol One Cash Rewards (no AF, 1.5% cash back on everything, $100 signup bonus). Discover also has no FTF but Sweden is the only country on your list where it is accepted.
$2500 First Hawaiian Bank (6/10)
$4500 CHASE Freedom (2/13)
$3500 Citi Forward (2/13)
$2000 Discover it (2/13)
$9600 AMEX BCE (3/13)
$10000 CHASE Sapphire Preferred (7/13)
$5000 CHASE Ink Plus (8/13)

Losangeles
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Location: Los Angeles, CA

Postby Losangeles » Fri Mar 15, 2013 4:36 pm

Thanks for the advice. Yeah, I have heard a lot of mixed things about discover.

But I did end up applying for the freedom online and got immediately approved for $3500, which I think is great. So I, for now, I don't think I will apply for anything else. I think for now, I will stick with these two until I acquire a little bit thicker of a credit profile.

Hopefully (in a few months), Citibank will finally raise the limit on my Forward card (my first card, that I've had since I was 18), they have been real sticklers with giving me a CLI for some reason.

But I'm glad I didn't end up having to pull multiple inquires. I guess cash is still probably the best option when it comes to traveling (for now)
Citi Forward - $800 (12/11)
Citi ThankYou Preffered - $3,500 (3/13)
Chase Freedom - $3,500 (3/13)
Barclay Apple Card - $2,000 (8/14)

swipe_masta
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Location: USA

Postby swipe_masta » Fri Mar 15, 2013 5:08 pm

I love me some Venture from CapitalOne. 2x miles on every purch plus no FTF and their rewards program is pretty good- all for a small annual fee of $59. Or go for the no annual fee version and get 1.25x miles on every purch. I must worn you tho, if CapitalOne doesn't deem you worthy, they will stick you with a shotty low CL. For the Venture tho, it is a Visa Signature card so it starts out at 5G.

You can try and do multiple apps at once, but each bank only takes a certain number of apps from the same person per day/month. For example, Citibank can only take up to 3 new apps from the same person per month, only 1 new app in a day before said person gets denied automatically every time thereon. (I was told this by a credit analyst from a backdoor # I called). The reason being is that each bank is allowed only a certain number of pulls from each credit bureau of a specific applicant.

Your income level also plays a role when it comes to higher end cc's. CSP may be a little out of your league right now. Try the regular CS. If you get approved and really like the card, you can upgrade to CSP. Chase I know likes to switch it up when it comes to pulling which reports. It depends on where you live and what card you are applying for. My cousin who still lives in Cali had her EQ pulled for the Freedom, but her EX for the CSP. My friend in FL got his EX pulled for the Freedom.

Best bet is to go with the Venture or Cashback from CapitalOne. Like matty said, all CO cards have no FTF and the two cards mentioned are the only ones worth getting.

Losangeles
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Location: Los Angeles, CA

Postby Losangeles » Sun Mar 17, 2013 4:40 pm

Yeah Swipe_masta, I definitely need to get a CSP eventually. From everything I've seen, they are really great cards. I would be really stoked to have the cards that I mentioned earlier.
Citi Forward - $800 (12/11)
Citi ThankYou Preffered - $3,500 (3/13)
Chase Freedom - $3,500 (3/13)
Barclay Apple Card - $2,000 (8/14)



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