Card recommendations?

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CF Frost
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Card recommendations?

Postby CF Frost » Wed Apr 23, 2014 5:37 pm

I'm 25, 765 CK Fako, 754 Discover score (TU08 I believe), $40K income, AAOA just over a year. No baddies. No installment loans on my reports.

I know the obvious answer here is to grow my AAOA and limits, but I was curious if anyone had any card recommendations or suggestions from here. I have a $500 secured card with my bank that I have had for just shy of two years. $20 AF and my oldest line of credit, but I might cancel to get out from under that. Second oldest card is my Discover IT, $2k limit that I've had for about a year and a half. Third oldest is my Amex BCE with a $9K limit (can request 3x in a month), and my newest card is a Chase Sapphire (not preferred) with a $5K limit. Six months of history there.

I probably have most of my spend categories covered, but wanted a critique of what I'm working with now and any suggestions. Might be traveling more with work at some point and a hotel card might make sense. Would probably go with the Hilton Amex Surpass for the backdating. Plus I love Amex. Also interested in the Chase Marriott (admittedly because it's black and metal). Another options include PCing my Sapphire to a Freedom and apping for the Marriott or CSP. Can't do that for another six months or so.

Any input would be appreciated. Thanks guys.


mrow
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Postby mrow » Wed Apr 23, 2014 10:50 pm

I'd definitely cancel the secured card.

Instead of PCing the CS to the Freedom card, why not apply for the Freedom card now and PC the CS to the CSP when you've have the card long enough for them to let you. You shouldn't have any problem applying for the Freedom card now. My first Chase card was the CSP and two weeks later I applied for the Freedom and was instantly approved. The waiting period you mentioned is often the time you have to wait to PC, not apply for a new card. If the CS card is pretty new you might as well take the hard pull now as opposed to later unless you have a high amount of hard pulls right now.

CF Frost
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Postby CF Frost » Thu Apr 24, 2014 8:33 am

mrow wrote:I'd definitely cancel the secured card.

Instead of PCing the CS to the Freedom card, why not apply for the Freedom card now and PC the CS to the CSP when you've have the card long enough for them to let you. You shouldn't have any problem applying for the Freedom card now. My first Chase card was the CSP and two weeks later I applied for the Freedom and was instantly approved. The waiting period you mentioned is often the time you have to wait to PC, not apply for a new card. If the CS card is pretty new you might as well take the hard pull now as opposed to later unless you have a high amount of hard pulls right now.


Finally someone agrees that I should cancel the secured card. They won't graduate it. It has served its purpose and I don't want the $500 tied up but the annual fee is what bothers me.

Wanted to PC the CS to Freedom so I could get the signup bonus on the CSP since it's larger.

CF Frost
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Postby CF Frost » Thu Apr 24, 2014 8:35 am

mrow wrote:I'd definitely cancel the secured card.

Instead of PCing the CS to the Freedom card, why not apply for the Freedom card now and PC the CS to the CSP when you've have the card long enough for them to let you. You shouldn't have any problem applying for the Freedom card now. My first Chase card was the CSP and two weeks later I applied for the Freedom and was instantly approved. The waiting period you mentioned is often the time you have to wait to PC, not apply for a new card. If the CS card is pretty new you might as well take the hard pull now as opposed to later unless you have a high amount of hard pulls right now.


I think I only have 2-4 inquiries, one of which should fall off soon. I assume that isn't enough to be worried about them.

takeshi
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Postby takeshi » Thu Apr 24, 2014 1:08 pm

CF Frost wrote:I probably have most of my spend categories covered, but wanted a critique of what I'm working with now and any suggestions.

Would help to know what your top spend categories, how much you're pushing through your cards, and how you want to redeem rewards if you're looking for feedback. Its not just a matter of the card itself but its suitability to you. Do you use the companies that UR points transfer to?

CF Frost wrote:Finally someone agrees that I should cancel the secured card.

Plenty of us would recommend closing it if it is of no benefit to you. $500 of $16,5000 shouldn't affect your utilization too much from closure but you can do the math to verify.

mrow
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Postby mrow » Thu Apr 24, 2014 2:11 pm

CF Frost wrote:Wanted to PC the CS to Freedom so I could get the signup bonus on the CSP since it's larger.


Didn't even think about it that way. That would make the most sense.



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