So When should I app?

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Snowman
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So When should I app?

Postby Snowman » Fri Nov 08, 2013 11:01 pm

As you guys may know, last year I applied and was approved for the Amex PRG. However, it has been a year since then and I am looking to close it since the annual fee is going to be due pretty soon. I am currently looking at apping for the SPG (I stay at Sheraton's if I'm not at marriott or Holiday Inn.) or the BCE (I really want a second gas card. Yes I know, I have the Freedom and the More card but they only give it during 2 quarters of the year, I'd like one for the all around year+ I don't like charging to my BOFA if the statement is close.) I currently have an income of 12,000 but I live at home and my current expenses are my Gas, Food, and cell phone bill and other misc stuff. I have six inquiries on EX (3 from last year) 3 on TU (1 this year, 2 last year.) and 2 on EQ (0 in the last year.) With that being said, when should I app? my AAOA is around 10-11 months. If approved for both or one card I'm going to close the PRG, but when should I app and what do my chances look like?

I know I've created these types of threads in the past, but this is currently what I have in mind, thanks for reading!
Bank Of America: BankAmeriCard Cash Rewards-4.2k
Citi: Forward-4.5k American Airlines Advantage Platinum Select World Elite MasterCard 9/6/15-4K
Discover: More-7k
Amex BCE.2k- Amex SPG-5k
Chase: Freedom-5kSouthwest Rapid Rewards Plus- 3.6k
Capital one: Venture one-10,000, Visa Signature.


MemberSince99
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Postby MemberSince99 » Sat Nov 09, 2013 8:08 am

I'd give thought to closing the PRG. Granted you can't really put enough spend on it to justify the annual fee (hence why I have Gold rather than PRG myself as I can't either) but I think the big thing is, with Amex your income is the limiting factor. I mean they might well wonder how a guy living in CA on 12k income a year is staying at hotels where the roaches don't drop onto you when you turn out the lights. If your income was 3x that, I would think it would be a no-brainer.

The good news is, if it's a decline it's only a soft pull. But I might keep that PRG for now, app for the SPG in January, if declined, just wait until the income improves then try again.

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Snowman
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Postby Snowman » Sat Nov 09, 2013 10:56 am

Yeah, that is true member, but I don't have any rent or living expenses, that is why I thought I would be able to get it (I'm thinking that's how I got my SW card as well, I don't have rent, and don't have any bills for CC's and the things mentioned above.). That's why I was thinking about the BCE as well, since I can use another gas card. Yeah, that is true too, if I don't get approved for the SPG then I'll app for the BCE or vice versa and see how it goes. Also, my AF is due sometime this month or next month and I'm not to keen on paying a 175$ AF for a card that I only put 2.5k spending on. And yeah, my income should be going up since at my workplace, my trainer is leaving and so I'm going to have to take over her daily duties while we look for someone else to hire...so it will be soon. So your saying app in January, now, or in December?
Bank Of America: BankAmeriCard Cash Rewards-4.2k
Citi: Forward-4.5k American Airlines Advantage Platinum Select World Elite MasterCard 9/6/15-4K
Discover: More-7k
Amex BCE.2k- Amex SPG-5k
Chase: Freedom-5kSouthwest Rapid Rewards Plus- 3.6k
Capital one: Venture one-10,000, Visa Signature.

DavidNY
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Postby DavidNY » Sat Nov 09, 2013 11:22 am

The Sallie Mae MC may be a good fit.

MemberSince99
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Postby MemberSince99 » Sat Nov 09, 2013 12:37 pm

I'd app in January. If they decline you it's only a soft pull anyway.

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Snowman
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Postby Snowman » Sat Nov 09, 2013 5:20 pm

Do you recommend closing my PRG? I fear that if I close it, then I'm going to get denied an Amex next time since they specifically mention my inquiries and there won't be a SP if I'm no longer a member.
Bank Of America: BankAmeriCard Cash Rewards-4.2k
Citi: Forward-4.5k American Airlines Advantage Platinum Select World Elite MasterCard 9/6/15-4K
Discover: More-7k
Amex BCE.2k- Amex SPG-5k
Chase: Freedom-5kSouthwest Rapid Rewards Plus- 3.6k
Capital one: Venture one-10,000, Visa Signature.

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Z06Biker
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Postby Z06Biker » Sat Nov 09, 2013 6:54 pm

MemberSince99 wrote:I mean they might well wonder how a guy living in CA on 12k income a year is staying at hotels where the roaches don't drop onto you when you turn out the lights...


LOL. I always enjoy your colorful language! :)
AMEX: PRG Gold, Business Simply Cash, Business Costco, BCE.
Chase: United MileagePlus Club, Sapphire Preferred, Amazon Rewards
Barclaycard Arrival World Mastercard
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Z06Biker
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Postby Z06Biker » Sat Nov 09, 2013 6:56 pm

Snowman wrote:Do you recommend closing my PRG? I fear that if I close it, then I'm going to get denied an Amex next time since they specifically mention my inquiries and there won't be a SP if I'm no longer a member.


Personally, if the annual fee is the determining factor and you can't quite swing the $95 by downgrading to the green card for the purpose of keeping an account open with Amex, then I'd app for a no-fee revolver and keep it open indefinitely until you're ready to PC it to something better, or apply for other cards. Point is, now that you're in with Amex, I'd keep the door open.
AMEX: PRG Gold, Business Simply Cash, Business Costco, BCE.
Chase: United MileagePlus Club, Sapphire Preferred, Amazon Rewards
Barclaycard Arrival World Mastercard
HSBC Cash or Fly World Mastercard
USAA World Mastercard, USAA Platinum Mastercard
Wells Fargo Business Platinum
USC Credit Union Mastercard

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Snowman
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Postby Snowman » Sat Nov 09, 2013 8:03 pm

David- I like the Sallie Mae card as well, but I want to have another Amex and I hear that Barclays is pretty paranoid when it comes to new accounts.

Z-I don't mind the annual fee, but I feel like I have to benefit from it if I'm going to have one or else I stick to no fee cards (I have a rather limited income so one or 2 cards with fees is more then enough for me.) I was specifically looking at the BCE as that will match my spending better, the SPG would be more to get points for the SPG program+maybe even transfer one day to their partners (since I think that is a pretty good thing about their card as well.) Should I try Delta and then PC it? or should I go for the BCE directly? And when should I go for it. I can clarify anything and my history is in my sig if need be.
Bank Of America: BankAmeriCard Cash Rewards-4.2k
Citi: Forward-4.5k American Airlines Advantage Platinum Select World Elite MasterCard 9/6/15-4K
Discover: More-7k
Amex BCE.2k- Amex SPG-5k
Chase: Freedom-5kSouthwest Rapid Rewards Plus- 3.6k
Capital one: Venture one-10,000, Visa Signature.

DavidNY
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Postby DavidNY » Sat Nov 09, 2013 8:34 pm

Snowman wrote: I hear that Barclays is pretty paranoid when it comes to new accounts.


I have found zero truth to this. I have had two of their cards for a while and have had lots of credit activity since. That said, their CS is sub-par compared with any other credit card company I use.

If you can't decide between the BCE and SPG, I'd suggest the BCE since there's no AF.



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