Approved for both CSP and Cash+ ...now what?

For just about anything you want to get off your chest about credit cards.
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takeshi
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Postby takeshi » Mon Nov 25, 2013 8:16 am

wiivile wrote:Does it look bad to have three credit cards (and applying for two at the same time)?

There's really no one-sized-fits-all answer to such questions. X could be detrimental to one person's credit and not to another's. Some have apped for far more than just 2 cards at one time. Just guessing, I'd say you have nothing to worry about. Even if it was a problem, the damage is already done. All you can do is use them responsibly and build your credit at this point.

wiivile wrote:After qualifying for the 40,000 point bonus, should I put the CSP in a sock drawer and just use the Cash+ as my everyday card, then cancel the CSP before the Annual Fee hits and transfer its $12K credit limit to the Freedom? If so, what should I do with my 150K+ UR points?

Your call to make. You can do the math to compare redemption rates on your spend. On the CSP side consider that transferring tends to yield better rates than cash back -- already mentioned this in your other thread.

If you want to transfer the points then you'd probably want to do so before ditching the CSP.

wiivile wrote:Also, do you think that even though I took two hard pulls at the same time, my credit score will actually increase as a result of these approvals because my credit limit went from $3200 to over $15K?

Inquiries fall off relatively quickly and they're just one aspect of credit scoring. Increased limits will help with utilization which plays a significant role.


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