Wish I found this place sooner... new card possibility

Discuss the Visa & MasterCard payment networks as well as cards that operate through them.
10 posts
RidgeRacerJM
Gold Member
Gold Member
 
Posts: 33
Joined: Sun Mar 11, 2012 2:57 pm
Location: San Diego, CA

Wish I found this place sooner... new card possibility

Postby RidgeRacerJM » Sun Mar 11, 2012 3:17 pm

Hi everyone, im new to the site, its been great to read everything you all have shared.

I'm debating about getting a new card, probably Chase Freedom. I want to get it primarily to attain better utilization. So here are some details!

Capital One Platinum, 3 y/o 5 months, typical balance: ~10% of my $1000 limit.

Chase Amazon Visa, 8 months old, typical balance: ~ 25% of my $2000 limit.

Amex Gold Premier Rewards (i regret getting this, but i dont think im gonna cancel cause i dont want to ruin my relationship with them i just started, mistake i gotta live with for now i guess....), 4 months old, typical balance: ??????

Would you all advise me to get a Chase Freedom? Or should I just hold off from getting anymore cards for now?

My "perfect" collection would be: Amex BCE, Chase Freedom, Chase Sapphire, Discover More....

I wanted to cancel my capital one eventually, but its my longest history, so i dont think thats a possibility...
Capital One Quicksilver: Since 10/2008 (CapOne Platinum originally)... upgraded on 08/2013
Chase Amazon Visa: Since 07/2011
Amex Gold Premier Rewards: Since 11/2011
Blue Cash Preferred: Since 05/2016

Experian Score: 825 05/16
TransUnion Score: 797 05/16


RidgeRacerJM
Gold Member
Gold Member
 
Posts: 33
Joined: Sun Mar 11, 2012 2:57 pm
Location: San Diego, CA

Postby RidgeRacerJM » Sun Mar 11, 2012 8:07 pm

also, never had a late payment, last time i got my score reported to me was from the Amazon Chase Visa report, telling me i had a score of 732. Not sure how much the Amex app brought my score down.
Capital One Quicksilver: Since 10/2008 (CapOne Platinum originally)... upgraded on 08/2013
Chase Amazon Visa: Since 07/2011
Amex Gold Premier Rewards: Since 11/2011
Blue Cash Preferred: Since 05/2016

Experian Score: 825 05/16
TransUnion Score: 797 05/16

Money card
Centurion Member
Centurion Member
 
Posts: 1361
Joined: Tue Jun 28, 2011 10:13 pm
Location: New York state

Postby Money card » Sun Mar 25, 2012 3:41 pm

I would imagine you have both the capitol1 platinum and chase amazon. the gold rewards how do you like this card?

do you shop at places like van heusen, izod, bass, juicy couture?

or do you use your cards for eating out like ruby tuesdays, applebees, buffalo wild wings? do you use your cards for gas stations like Exxon/mobil, sunoco, shell or citgo?

do you go to alot of places that don't take Discover like Hermes? Do you have a lot of places local restaurants that don't accept Discover?

I don't shop at Hermes but there are 2 local restaurants that don't take Discover. 1 is affordable and 1 is a restaurant that I go to once a year, this is a very expensive place.

I don't use my cards for gas. I use my cards for shopping. So I have a Discover More I love my Discover, after my fight with Chase I canceled my Freedom card. Do you have a checking account with capitol1? or how did you get the platinum card?

How do you like your capitol1 platinum card?

DavidNY
Centurion Member
Centurion Member
 
Posts: 1332
Joined: Tue Jul 05, 2011 12:28 pm
Location: New York

Postby DavidNY » Sun Mar 25, 2012 3:45 pm

Your credit limits are pretty low. Call the banks and ask for higher CLs, which will lower your utilization percentage. You might want to switch to the Chase Freedom card, it depends on your spending patterns.

Discover is known for giving comparatively low CLs, so they're not the best choice for improving your utilization percentage.

CC Deville
Centurion Member
Centurion Member
 
Posts: 1067
Joined: Thu Aug 04, 2011 7:07 pm
Location: Phoenix

Postby CC Deville » Sun Mar 25, 2012 7:43 pm

You may want to have your Chase Amazon for a year before trying for another Chase product. I would recommend having the Amazon product changed (PC) to the Freedom after you have had it for a year.

As far as the Amex Premier Rewards Gold (PRG) the first year is free correct? Once you have had a relationship with them for a year (on the 13th month) you may call them and downgrade the card to a Gold or Green (possibly even the Zync). Or you could close it all together. Any new AMEX card you open the future (issued by AMEX not USAA BofA etc) it will be backdated to 2011 so you don't need to worry about that.

You may close Capital One at anytime. It will report to the bureaus for the next 10 years. It will only hurt you in 10 years once it falls off your bureaus but by then your average age of account (AAOA) should be solid and you won't feel it too much.

FutureBillionaire
Centurion Member
Centurion Member
 
Posts: 1589
Joined: Sun Jun 19, 2011 2:37 pm
Location: Down South

Postby FutureBillionaire » Mon Mar 26, 2012 11:42 am

How generous is Chase with their credit limits?
Gas: Discover It, Penfed Platinum Rewards x2, Chase freedom, Citi TYP
Plane tickets: CSP
Groceries: AMEX BCP, Penfed Platinum Rewards,Citi TYP
Clothes: Express, Amex BCP, Discover IT
Amazon: Citi Forward, Cash +
Restaurants: Citi Forward, Chase Freedom, Discover IT, CSP
Hotels and other travel: Discover Escape, CSP
Movies: BofA travel rewards visa signature(fandango), Discover IT, Citi Forward, Freedom
Bars, clubs, tomfoolery: CSP, Citi Forward, Discover IT, Freedom
Balance transfers: Kroger 123 rewards
Bill Pay: Chase Ink Plus, Citi Forward
Everyday spending: Bofa Accelerated cash rewards amex, Discover Escape

CC Deville
Centurion Member
Centurion Member
 
Posts: 1067
Joined: Thu Aug 04, 2011 7:07 pm
Location: Phoenix

Postby CC Deville » Mon Mar 26, 2012 5:03 pm

FutureBillionaire wrote:How generous is Chase with their credit limits?


It depends on the applicant. I have $10K on both my Slate and Freedom. More than enough for me, but others may want more. I have seen Chase limits into the $30K range, but usually people with solid credit histories (and high incomes) can see anything between $10K-$20K. My Freedom was approved for $7K and after 9 months they bumped it up to $10K YMMV. If you are newer to credit or have questionable credit, $2K-$3K seems to be the going rate.

irvine801
Centurion Member
Centurion Member
 
Posts: 329
Joined: Thu Jan 19, 2012 6:26 pm
Location: Salt lake city, UT

Postby irvine801 » Tue Mar 27, 2012 12:25 am

Do you work for Chase deville? I'm at 2k. Started at 1k and I've been with them for 5 ish months. But I was pay it in full. Maybe thats why lol.
-American Express Zync.
-Discover IT. 4.5k limit 7.99%
-MC Citi diamond preferred. 1500 limit
-Visa Chase freedom. 2k limit.(23.24%, NOT IN USE)
-Miles by discover 1.5k limit.7.99%
-Best buy store card. 1500 limit
-Mt. America visa 1k limit

CC Deville
Centurion Member
Centurion Member
 
Posts: 1067
Joined: Thu Aug 04, 2011 7:07 pm
Location: Phoenix

Postby CC Deville » Tue Mar 27, 2012 4:36 pm

irvine801 wrote:Do you work for Chase deville? I'm at 2k. Started at 1k and I've been with them for 5 ish months. But I was pay it in full. Maybe thats why lol.


No sir. I used to work for a bank and I reviewed credit bureaus. So I based my answer off what I saw. I noticed that real Chase Manhattan or old Bank One/First USA BIN's (Bank Identification Number-ie the first 6 digits of an account number) had the best credit lines whereas the old Providian/WaMu BIN's were usually lower.

Like any creditor, they review accounts for credit line increases but they like to see usage and overall good credit before they give out CLI's. And in a post Card ACT world, those will be rarer. I am beginning to see banks sending pre-approved credit line increase letters, but before they can grant them, you have to provide them with your income (nothing serious like sending W2s etc just asking what your income is).

RidgeRacerJM
Gold Member
Gold Member
 
Posts: 33
Joined: Sun Mar 11, 2012 2:57 pm
Location: San Diego, CA

Postby RidgeRacerJM » Sun Apr 01, 2012 4:43 am

The Gold Rewards card is nice because i use the Amex website to make a lot of my purchases. I shop at Nordstrom's every now and then, but I don't spend to my heart's content.

Majority of my spending goes towards: 1) Groceries, 2) Gas, 3) Restaurants, and 4) Department Store Purchases.

I got the platinum card because my mom signed me up for it back when I turned 18. I'm actually quite satisfied with the customer service. I requested a credit limit increase almost 1.5 years ago now but was denied.
Capital One Quicksilver: Since 10/2008 (CapOne Platinum originally)... upgraded on 08/2013
Chase Amazon Visa: Since 07/2011
Amex Gold Premier Rewards: Since 11/2011
Blue Cash Preferred: Since 05/2016

Experian Score: 825 05/16
TransUnion Score: 797 05/16



Return to “Visa & MasterCard”

Who is online

Users browsing this forum: No registered users and 2 guests