To apply or not to apply?
Jan 28, 2013 | 3:28 pm
#1
Original Poster
Join Date: Feb 2012
Location: TXL/SXF
Programs: Hilton Gold, Marriott Platinum, SPG Gold, US/UA Gold, National Executive, Avis First, Accor Platinum
Posts: 130
To apply or not to apply?
A little bit of background:
I am a college student, with my credit score in the low 700s. Not having a ton of credit history, I'm a bit limited when it comes to the churning game.
Anyway, I'd like to get the Chase Sapphire preferred card. I'll meet the $3K spend no issue. However, I only have one other Chase card (UA Explorer) with a small limit. I plan on dumping the UA card in order for the Sapphire card.
Here's the dilemma: should I cancel the UA card, then apply for the Sapphire card? I feel that Chase won't give me a second card due to the fact that I have a limited credit limit with the UA card now. Should I take some other strategy?
For what it's worth, I also have two AMEXs: one charge and the other the SPG card. Any help appreciated!
I am a college student, with my credit score in the low 700s. Not having a ton of credit history, I'm a bit limited when it comes to the churning game.
Anyway, I'd like to get the Chase Sapphire preferred card. I'll meet the $3K spend no issue. However, I only have one other Chase card (UA Explorer) with a small limit. I plan on dumping the UA card in order for the Sapphire card.
Here's the dilemma: should I cancel the UA card, then apply for the Sapphire card? I feel that Chase won't give me a second card due to the fact that I have a limited credit limit with the UA card now. Should I take some other strategy?
For what it's worth, I also have two AMEXs: one charge and the other the SPG card. Any help appreciated!
Jan 28, 2013 | 4:58 pm
#3
Join Date: Sep 2012
Location: IAD/DCA
Programs: Bunch of mid-tiers
Posts: 1,038
It's worth a try if you can take the small credit ding. I would NOT cancel the UA card first. Just apply for the CSP. If you do not get approved call Chase and negotiate - switch limits, cancel cards, etc.
One other thought. Do you have a definitive plan for using these points/miles? If yes, carry on. If you're just stockpiling you may want to consider if you are better off waiting and building more of a credit history. This will be more valuable in the long run.
One other thought. Do you have a definitive plan for using these points/miles? If yes, carry on. If you're just stockpiling you may want to consider if you are better off waiting and building more of a credit history. This will be more valuable in the long run.
Jan 28, 2013 | 5:15 pm
#4
Original Poster
Join Date: Feb 2012
Location: TXL/SXF
Programs: Hilton Gold, Marriott Platinum, SPG Gold, US/UA Gold, National Executive, Avis First, Accor Platinum
Posts: 130
I don't really have a plan-in-mind for the miles, but I'd like to switch all of my everyday spending from the SPG to the CSP. I'll keep the SPG card, but because I live on a college campus, most places don't accept AMEX-- that's why I want to put everyday spend on the CSP instead of the UA Explorer.
Jan 28, 2013 | 9:20 pm
#5
Join Date: Aug 2012
Location: EWR/SNA/SUN
Programs: United 1K; Marriott Ambassador
Posts: 763
It's worth a try if you can take the small credit ding. I would NOT cancel the UA card first. Just apply for the CSP. If you do not get approved call Chase and negotiate - switch limits, cancel cards, etc.
One other thought. Do you have a definitive plan for using these points/miles? If yes, carry on. If you're just stockpiling you may want to consider if you are better off waiting and building more of a credit history. This will be more valuable in the long run.
One other thought. Do you have a definitive plan for using these points/miles? If yes, carry on. If you're just stockpiling you may want to consider if you are better off waiting and building more of a credit history. This will be more valuable in the long run.
Jan 28, 2013 | 9:47 pm
#6
Join Date: Oct 2012
Posts: 89
I agree with the guys above. Don't cancel it. use it as leverage. I did it earlier with 2 approvals. Although they were business cards.
I have a Southwest Business Chase card. I applied for 2 more cards.
1. Chase Ink Bold Charge Card
1. Chase Ink Plus Credit Card.
They approved my Ink Plus without a problem, but I had to talk to a rep over the phone for the Ink Bold.
She said I had to lower my credit limit in order to get the Ink Bold.
This is slightly different than your situation only because of the charge card (and it's business).
I have a Southwest Business Chase card. I applied for 2 more cards.
1. Chase Ink Bold Charge Card
1. Chase Ink Plus Credit Card.
They approved my Ink Plus without a problem, but I had to talk to a rep over the phone for the Ink Bold.
She said I had to lower my credit limit in order to get the Ink Bold.
This is slightly different than your situation only because of the charge card (and it's business).