Help me get my ultimate credit card collection

For just about anything you want to get off your chest about credit cards.
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guitarlifter
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Postby guitarlifter » Wed Feb 26, 2014 12:52 pm

takeshi wrote:The hit to AAoA has already been done by opening the accounts. Closing doesn't immediately impact AAoA. AAoA isn't affected until the account falls off 10 years down the road. It's utilization that is immediately affected by closure.


I'd suggest looking at your specific spend and selecting cards that offer maximum rewards for your spend versus just casting a generally wide net for rewards. 5+% on a category you never spend in is pointless.


Take those messages with a grain of salt.


Probaby no big impact one way or another. Again, inquiries and AAoA have already been impacted. Closure would affect utilization. Calculate utilization before and after. If you don't have balances then it probably won't have much impact on utilization either.


Then you qualified for the best terms available.


I don't know what is going on, but the mods have neglected to approve two rather lengthy posts that would have given everyone a lot more information about my situation. Anyhow, I'll try this again . . .

My FICO score is officially 723 according to Discover.

Per recommendation from otter, I am also going to keep my PayPal Extras Mastercard (didn't realize , and I also applied and was approved for a Sallie Mae Rewards Mastercard.

Really, now that I have the Sallie Mae card along with the PayPal Extras and Chase Freedom, the only two cards I really want now are the Discover It card and the Cap One Quicksilver.

But now the BoA Cash Rewards card is the odd man out. I think I will just keep it open for now since it's the "mythical door opener." :)
Whats's in the wallet: Discover It - $3,800 (5% rotating, ShopDiscover), Sallie Mae Rewards MC - $1,000 (5% on gas, groceries, and Amazon), Chase Freedom Visa - $1,200 (5% rotating + 10% extra w/ Chase Total Checking), PayPal Extras MC (1.66% on PayPal, 2.5% on Restaurants- $3,000, Bank of America Cash Rewards Visa Signature - $5,000 (Signature benefits), PNC CashBuilder Visa - $1,000 (Don't use), Fidelity Investment Rewards Amex - $5,000 (2% on everything)

. . . and some store credit/charge cards.

Future cards:

-US Bank Cash+ (for the 5% categories)
-1-2 0% APR cards for some big purchases I'll be making within the year


guitarlifter
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Postby guitarlifter » Mon Apr 07, 2014 2:52 am

Ok, here is an update on my credit card collection:

PNC CashBuilder - $1,000 (am currently avoiding using this card since I want to get the Quicksilver and don't want to get stuck having unusable cash back if I get the quicksilver since this card's lowest available cash back is $50)
PayPal Rewards - $3,000 (1.66% cash back for paypal, 2.5% for restaurants)
BoA Cash Rewards - $5,000 (uhhh probably won't use much, but will probably keep open since it's my highest credit limit and will give me leverage for upping my other credit limits . . . plus BoA seems to really like me since they gave me their best offer)
Chase Freedom - $1,200 (for use of rotating 5% cash back and also for their offers store)
Sallie Mae - $1,000 (5% cash back at gas stations, grocery stores, and Amazon.com)
Discover It - $3,800 (finally got reapproved a few days ago with the $150 bonus, will use for rotating 5% plus their cash back store)
Kohl's - $300 (Kohl's only)
American Eagle - $300 (probably won't use since i buy gift cards online that stop me from using this)
2 Amazon Store Cards (Didn't know my old one was even still open?!) - old one is $400 and new one is $2,200 (signed up for the $10 promotional credit each time only, will never use)

Ok, so I am ONE credit card away from being content with my credit card collection. If you look back through the thread, I missed applying my first time around for the Discover It credit card through the special $150 bonus cash back promotional offer link and there was nothing Discover could do about it but tell me to cancel my account and reapply in 45 days. I took my chances and did that, not knowing whether or not the offer would still be there since it did appear to come and go. Well, it was still there, and they actually approved me for an even higher credit limit ($3,800) than the first time around ($2,500). I was very pleased to have gotten this card with the promotional offer in time and can't wait to get it in the mail.

Ok, so the last card that I want is the Cap One Quicksilver credit card. I have applied for this card before, but I was rejected, and I believe it had to do with applying for too many cards at once and my loan balances (I'm betting this has to do with my $31,500 in school loans that I have yet to begin paying off yet since I am still in grad school and how I also never carry a balance on a credit card or even use over 10% on my credit limits). I applied for about a half dozen credit cards in early/mid Feb. with a mix of acceptances and rejections. I applied for the 2nd Amazon store card Feb 23 and my Discover It card just a couple of days ago.

My credit score has gone up a fair amount since February. My FICO is now 757 as of March 21st (provided via Sallie Mae) and I am sure has probably gone up slightly more since then. Credit Sesame gives me a score of of 769 and Credit Karma gives me a Trans Union of 687. My FICO was 723 in Feb. Basically, how should I go about applying for the Cap One Quicksilver? Should I go over the internet? By phone? How long should I wait? Now? A month from now? 3 months from now? 6 months from now? Should I close any of my credit card accounts like ones that I don't see me ever using and have a fairly low to low credit limit? Btw, all of my credit card accounts are younger than my average account age or are about my average account age (loan accounts are 6-7 years old as opposed to credit card accounts being 0 to almost 3 years old).

Any suggestions for applying for the Cap One Quicksilver would be appreciated.
Whats's in the wallet: Discover It - $3,800 (5% rotating, ShopDiscover), Sallie Mae Rewards MC - $1,000 (5% on gas, groceries, and Amazon), Chase Freedom Visa - $1,200 (5% rotating + 10% extra w/ Chase Total Checking), PayPal Extras MC (1.66% on PayPal, 2.5% on Restaurants- $3,000, Bank of America Cash Rewards Visa Signature - $5,000 (Signature benefits), PNC CashBuilder Visa - $1,000 (Don't use), Fidelity Investment Rewards Amex - $5,000 (2% on everything)



. . . and some store credit/charge cards.



Future cards:



-US Bank Cash+ (for the 5% categories)

-1-2 0% APR cards for some big purchases I'll be making within the year

MemberSince99
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Postby MemberSince99 » Mon Apr 07, 2014 6:44 am

If you are just looking for 1.5% all the time, you can avoid Crap One and go with the Fidelity Amex and get 2% all the time on top of it. Crap One has "prime" cards I know but they are still a lousy two bit subprime lender at heart that does 3 hard pulls for their cards with the worst customer service in the industry (think completely useless and you have them to a T). Personally I would not deal with them even for their "prime" cards unless I simply had no other option.


If you want to go for it, as you've seen they are very inquiry sensitive for their "prime" offerings I'd wait 6 months. Completely up to you how you do it. I would only close what you no longer use - if you plan to use it keep it as none of them look like they have an annual fee.


Good luck.

guitarlifter
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Postby guitarlifter » Mon Apr 07, 2014 6:38 pm

MemberSince99 wrote:If you are just looking for 1.5% all the time, you can avoid Crap One and go with the Fidelity Amex and get 2% all the time on top of it. Crap One has "prime" cards I know but they are still a lousy two bit subprime lender at heart that does 3 hard pulls for their cards with the worst customer service in the industry (think completely useless and you have them to a T). Personally I would not deal with them even for their "prime" cards unless I simply had no other option.


If you want to go for it, as you've seen they are very inquiry sensitive for their "prime" offerings I'd wait 6 months. Completely up to you how you do it. I would only close what you no longer use - if you plan to use it keep it as none of them look like they have an annual fee.


Good luck.


I thought the Fidelity Amex was for special accounts only though, none of which I have. Can I just get a straight check or have it deposited into my current account?
Whats's in the wallet: Discover It - $3,800 (5% rotating, ShopDiscover), Sallie Mae Rewards MC - $1,000 (5% on gas, groceries, and Amazon), Chase Freedom Visa - $1,200 (5% rotating + 10% extra w/ Chase Total Checking), PayPal Extras MC (1.66% on PayPal, 2.5% on Restaurants- $3,000, Bank of America Cash Rewards Visa Signature - $5,000 (Signature benefits), PNC CashBuilder Visa - $1,000 (Don't use), Fidelity Investment Rewards Amex - $5,000 (2% on everything)



. . . and some store credit/charge cards.



Future cards:



-US Bank Cash+ (for the 5% categories)

-1-2 0% APR cards for some big purchases I'll be making within the year

samhradh
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Postby samhradh » Mon Apr 07, 2014 9:17 pm

guitarlifter wrote:I thought the Fidelity Amex was for special accounts only though, none of which I have. Can I just get a straight check or have it deposited into my current account?


I was confused by this too so I did my research. The key is to open a Fidelty Cash Management Account. It's essentially an interest-free checking account so I wouldn't keep much money in it but it's the easiest way to qualify for the credit card.
Citi Forward ($10.1K), AmEx Blue Cash Everyday ($30K), Chase Freedom ($12.4K), Discover it ($5.5K), Barclaycard Arrival ($12.5K), L.L. Bean Visa ($5K). FICO 806 (TU), 812 (EQ), 806 (EX).

guitarlifter
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Postby guitarlifter » Tue Apr 08, 2014 1:05 am

samhradh wrote:I was confused by this too so I did my research. The key is to open a Fidelty Cash Management Account. It's essentially an interest-free checking account so I wouldn't keep much money in it but it's the easiest way to qualify for the credit card.


Great find! So I opened up an account and applied for the card. Now I have to wait up to 30 days for a response. What a drag! :( I'll probably call in to check in on things tomorrow.

EDIT: Oh find me in the Alps! I just found a $75 bonus cash back link that I missed after applying. I guess I'll call in to see if they'll add it or match it. I know Discover didn't. I wouldn't be happy if I had to reapply.
Whats's in the wallet: Discover It - $3,800 (5% rotating, ShopDiscover), Sallie Mae Rewards MC - $1,000 (5% on gas, groceries, and Amazon), Chase Freedom Visa - $1,200 (5% rotating + 10% extra w/ Chase Total Checking), PayPal Extras MC (1.66% on PayPal, 2.5% on Restaurants- $3,000, Bank of America Cash Rewards Visa Signature - $5,000 (Signature benefits), PNC CashBuilder Visa - $1,000 (Don't use), Fidelity Investment Rewards Amex - $5,000 (2% on everything)



. . . and some store credit/charge cards.



Future cards:



-US Bank Cash+ (for the 5% categories)

-1-2 0% APR cards for some big purchases I'll be making within the year

MemberSince99
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Postby MemberSince99 » Tue Apr 08, 2014 6:50 am

You can call in and ask/recon with them.


I doubt they will apply that 75 bonus if you didn't click the link. But you can always tell them you are going to send Walter over with a baseball bat to remodel their new Corvette and see if that helps. (This is what happens when you find a stranger in the Alps!)

samhradh
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Postby samhradh » Tue Apr 08, 2014 9:26 am

Dude, if anyone ever did app overkill...that's prob why you need to wait 30 days.
Citi Forward ($10.1K), AmEx Blue Cash Everyday ($30K), Chase Freedom ($12.4K), Discover it ($5.5K), Barclaycard Arrival ($12.5K), L.L. Bean Visa ($5K). FICO 806 (TU), 812 (EQ), 806 (EX).

guitarlifter
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Postby guitarlifter » Tue Apr 08, 2014 5:11 pm

MemberSince99 wrote:You can call in and ask/recon with them.


I doubt they will apply that 75 bonus if you didn't click the link. But you can always tell them you are going to send Walter over with a baseball bat to remodel their new Corvette and see if that helps. (This is what happens when you find a stranger in the Alps!)


I called in, had my first app cancelled before it could be processed, and reapplied through the link, so now my app has that special $75 offer. I was still told that their answer could take up to 30 days, however. *sigh*
Whats's in the wallet: Discover It - $3,800 (5% rotating, ShopDiscover), Sallie Mae Rewards MC - $1,000 (5% on gas, groceries, and Amazon), Chase Freedom Visa - $1,200 (5% rotating + 10% extra w/ Chase Total Checking), PayPal Extras MC (1.66% on PayPal, 2.5% on Restaurants- $3,000, Bank of America Cash Rewards Visa Signature - $5,000 (Signature benefits), PNC CashBuilder Visa - $1,000 (Don't use), Fidelity Investment Rewards Amex - $5,000 (2% on everything)



. . . and some store credit/charge cards.



Future cards:



-US Bank Cash+ (for the 5% categories)

-1-2 0% APR cards for some big purchases I'll be making within the year

guitarlifter
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Joined: Tue Feb 25, 2014 5:54 am
Location: Ohio

Postby guitarlifter » Wed Apr 09, 2014 9:44 am

UPDATE: I was approved for a $5,000 credit limit for the Fidelity Amex! :)

I had to call the Spanish number to expedite my approval because all of the English-speaking customer service people were pretty worthless. They all told me I would have to wait because either they didn't have the phone number to the credit analysis department or that the credit analysis department no longer existed. WHAT?! Anyhow, the Spanish people were super nice and easy to work with. I did get the $75 promotional offer as well.
Whats's in the wallet: Discover It - $3,800 (5% rotating, ShopDiscover), Sallie Mae Rewards MC - $1,000 (5% on gas, groceries, and Amazon), Chase Freedom Visa - $1,200 (5% rotating + 10% extra w/ Chase Total Checking), PayPal Extras MC (1.66% on PayPal, 2.5% on Restaurants- $3,000, Bank of America Cash Rewards Visa Signature - $5,000 (Signature benefits), PNC CashBuilder Visa - $1,000 (Don't use), Fidelity Investment Rewards Amex - $5,000 (2% on everything)



. . . and some store credit/charge cards.



Future cards:



-US Bank Cash+ (for the 5% categories)

-1-2 0% APR cards for some big purchases I'll be making within the year



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