Please advise. In what order should I apply?

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chan35
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Location: Chicago, IL

Please advise. In what order should I apply?

Postby chan35 » Tue May 14, 2013 3:43 pm

Greetings all. I'm interested in applying for the following cards and am curious if there is a particular order in which I should apply--and if you think I have a good chance of being approved.

CSP, Freedom, BCP and maybe an Amex charge card.

EQ (2 INQ; one 10 months old for student loan; the other a month old for CLI)
TU (0 INQ)
EX (1 INQ; 2 months old; not CC related)

I have the following cards:

Citi Diamond Preferred. Balance $0/$5K CL (reporting as $1800 CLI-hasn't updated yet)
Capital One $0/$1250
Capital One $0/$1000
Cap One/HSBC $0/$1100
Victoria's S. $0/$750
Credit One Bank $0/$1400
Applied Bank $0/$2150
Chase (Slate, I think) $633/$8500 (am AU on this card)

My reports are free of baddies/derogatory info with the exception of an 11 year old UNPAID $576 state tax lien that is on EQ only and I am working on paying off.

Thanks in advance for your input.
FICO Scores:
EQ 704
TU 789
EX 781 (via Amex on 6/11/13)


KrazyNick
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Location: South Carolina

Postby KrazyNick » Tue May 14, 2013 6:00 pm

I think you have a pretty good chance at getting approved for The Freedom and a Amex charge card. I feel like those are the easiest out of the bunch. I recently applied for CSP and got denied but then chase gave me a credit limit increase on my freedom from 2000 to 5000. Chase can be tricky sometimes.

So I would say

Freedom
Amex Gold or PRG
BCP
CSP

Good luck and let me know which ones you get approved for!
Bank of America Travel Rewards Visa Signature - 5k (2/10)
Capital One Mastercard- 2.5k (1/11)
Chase Freedom- 5k (4/11)
Discover It- 3k (5/11)
Chase Amazon Visa- 2k (5/13)
American Express Blue Cash Everyday- 8k (5/13)

Bank of America WorldPoints Rewards for Business- 18k (11/11)

mdl28
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Location: TX

Postby mdl28 » Tue May 14, 2013 7:01 pm

I say freedom, Amex Chrge, BCP, and then after 6 months of being with chase on the freedom card apply for CSP. CSP is a high end card and chase will want to see some activity and how you manage before you are likely approved.


GOOD LUCK

let us knoe how it goes.
MDL

Amex Gold Prem'r
Amex BCP
Amex Green
Barclays Ring Platinum MasterCard
Citi Diamond Pref'd
Chase Sapphire Pref'd Visa Signature
Chase Freedom MasterCard
Discover It
New York Life Visa Signature

Sevenfeet
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Location: United States

Postby Sevenfeet » Tue May 14, 2013 8:27 pm

You can answer your question by asking the following: "What are your priorities?" In my case, they were cash back cards. I did the math on my spending patterns and figured out which card would return the most money annually and worked down the list. You can do the same although things like an Amex charge card might have other priorities that may rate it higher or lower. It's up too you.
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)

chan35
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Posts: 25
Joined: Wed Jan 23, 2013 5:14 pm
Location: Chicago, IL

Postby chan35 » Tue May 14, 2013 10:41 pm

KrazyNick and MDL--Thanks for the input. I'm going to pay the lien off on Friday and wait for my Citi to report my $5K CL before I make any moves to prime cards. I will definitely keep you posted! I really want the Amex BCP because I spend $700+/month on groceries!

Good advice Sevenfeet. I don't know that I really need the Amex charge. I'd use BCP for groceries & the Freedom as my everyday card. I want the CSP for travel. I have two trips coming up this summer & next year.
FICO Scores:

EQ 704

TU 789

EX 781 (via Amex on 6/11/13)

MemberSince99
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Location: WI

Postby MemberSince99 » Thu May 16, 2013 6:26 pm

Just a little advice - do not waste a pull on CSP. Chase likes to see a year or two of usage before they approve that, I was told that directly from a Chase underwriter. I've heard they also like to see you with a 5k + limit and none of your cards are close. You would have a MUCH better chance with Freedom then in a year you could probably get CSP.

I suggest Freedom and Amex Gold, order really doesn't matter here. BCP is harder to get as a revolver and you may get it but if you simply want the odds, go for the charge and get your foot in the door then after a year with them go for BCP.

And with Amex you get backdating which is nice.

chan35
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Location: Chicago, IL

Postby chan35 » Thu May 16, 2013 8:21 pm

MemberSince99, do you recommend that I wait until my 5K CL on Citi reports before I apply for Freedom & Amex?
FICO Scores:

EQ 704

TU 789

EX 781 (via Amex on 6/11/13)

MemberSince99
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Joined: Sun May 20, 2012 4:35 pm
Location: WI

Postby MemberSince99 » Thu May 16, 2013 8:46 pm

I would say yes, I know that Chase certainly tries to be competitive and having that higher limit card showing may give you a higher starting limit with them, and will reflect favorably.

Amex may be a little less competitive in that regard, but it sure can't hurt. I'd say yes to both, especially Chase though. The nice thing with Amex is they will raise your internal limit on your charge card over time. A helpful bit of advice as well - they have a "Check my spending ability" button in your account area online, do not I repeat do NOT go nuts on that thing and put in a million dollars for laughs or something, they don't have a sense of humor about that sort of thing and it may get you FR'd. Just use it sparingly and wisely and you'll be fine.

chan35
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Posts: 25
Joined: Wed Jan 23, 2013 5:14 pm
Location: Chicago, IL

Postby chan35 » Thu May 16, 2013 9:51 pm

Thanks for the tips MemberSince!
FICO Scores:

EQ 704

TU 789

EX 781 (via Amex on 6/11/13)

chan35
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Posts: 25
Joined: Wed Jan 23, 2013 5:14 pm
Location: Chicago, IL

Postby chan35 » Tue Jun 11, 2013 9:49 pm

I have an update. I applied online for the Freedom this afternoon and the BCP a few hours later. I was instantly approved for both.

Freedom $6K
BCP $8.5K

I'm not sure which bureau they pulled from as I haven't received any alerts yet. My UTIL was at 12% across a couple of cards. My Citi $5K CL was only reporting on EX and EQ. TU has been slow to update this one time but I decided to chance it and apply anyway. I'm very pleased with my limits! By the way, my 11 year old lien remains unpaid. I thought I could pay the state directly but found out the state sold it to a CA and the lien is no longer $576 but $875+. I've had other priorities/obligations but intend to move this debt to the top of the list again.

I still want the CSP but have decided to wait awhile. I did read of someone who was approved for CSP 13 days after applying for Freedom!! Thanks to you all for your advice and suggestions.

PS: my scores were a bit lower than in my signature below. FICO: TU was 775 and EQ 699. EX the same.
FICO Scores:

EQ 704

TU 789

EX 781 (via Amex on 6/11/13)



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