posted: Mar. 10, 2013 @ 8:45p
UPDATE: Results of 5/2013 AOR
Total applications approved: 4
Total applications declined: 1 (Citibank wanted to do a second hard pull, in addition to a SSA-89 form in order to process my application)
Total amount of NEW credit approved: $38k+
# of CC applications pending: ?1
# of CLI applications approved: 1
# of CLI applications pending: ?1
Total spend to get signup bonuses (for the 4 approved applications): $3k in 3 months for $650 in statement credit + $75 Amazon GC + 80k Priority Club points
I now have a couple cards with CLs > $10k and my total CL is almost 1.5x my gross annual income. It's almost scary that they trust me with this when my SSN is so young and credit file so thin because it makes me wonder about all the other people that have huge lines of credit...
I delayed as long as I could, hoping that some nice signup bonuses would pop up, but it didn't happen. I ended up applying for the following cards:
- Barclays Arrival MC ($400 for $1k spend) - required a call, but was approved for $5k
- Discover It ($75 Amazon GC via Amazon) - required two calls (the first time, I got some BS from the first CSR - AFTER I cleared all of their security verification questions - that they didn't believe I was who I said I was and then hung up on me), but was approved for $7k. I did have to upload a photo of my SS card and provide detailed employment information as part of the automated form.
- AMEX Blue Cash Preferred ($250 for $1k spend) - $13k CL auto-approved
- AMEX Blue Cash Everyday AMEX ($150 after 500 spend) - I was an idiot and got excited after being approved for the BCP card, so I applied for the BCE card right after. I'm not sure if they'll just ignore it and not do a pull (the automated decision message was "Please call us at 1-800-582-6471 to be connected directly to a Customer Care Professional who will provide you with a decision")
- Chase Priority Club (80k for $1k spend) - required a call, but was approved for over $5k
- Citi Platinum Select/AA (50k for $2.5k spend in 4 months) - I called in twice - the first time, I was only told that there was some additional processing that was required but that they couldn't discuss or do it over the phone. The second time I called, I was told that I will receive a letter in the mail saying that I need to get some form from the Social Security Administration that I have to to send in to Citi so that they can approve my application.
Interestingly enough, American Express was the ONLY credit card issuer to automatically approve my application...and they approved me for my largest CL to date ($13k, which was almost the sum of my previous two largest CLs!)
I was thinking of applying for the CapOne Cash Visa, but decided to quit while I was ahead. I ended up consolidating the CLs on most of my cards with AFs coming due (they all declined to waive the AF or provide any incentive) and then cancelling those cards. I also applied for CLIs for a couple cards...though I applied after regular business hours and suspect/am worried that they will do additional hard pulls tomorrow. The last thing I did was convert a useless BofA card to their BankAmericard Better Balance Rewards Visa.
I've put this off too much because I was waiting for the good credit card signup bonuses to pop up, but they seem to be much fewer now than they were last year.
I am planning to keep the no-fee cards and get rid of the annual fee cards (though, still on the fence with Costco - I bought my tires there and am not sure if I need to keep membership to take advantage of their warranty).
Ideally, I would apply for the new cards, reallocate existing credit lines to those cards, then cancel the current cards.
Credit Karma score: 758
Credit Sesame score: 771
My average age of accounts is very young.
Income: I usually just enter $50k
I don't spend that much on a regular basis (i.e. no business expenses I can get reimbursed for or anything like that), so lower spending requirements are preferable. However, if it is a very good offer and worth paying the foreign exchange fee, I may be able to make some bill payments for family members to hit spend requirements.
For what it's worth, I value Aeroplan miles highly.
As far as traveling, I am very restricted by work and all time off has to be planned out at least a couple months in advance (though, I may not get the approval until weeks before the date). I mainly fly Delta because they are the only airline that has direct flights to where I fly (I don't want to mention specific locations, but all the places are within North America), but they are expensive. A roundtrip ticket is almost always over $500 or 50k miles+$100-200. When I travel, I usually have a place to stay (friends, relatives, or timeshare) or I can get something reasonably-priced on Priceline, so I don't think I would get much (if any) value out of hotel points. I don't get enough time off to fly overseas much, but hopefully that will pick up in the next 1-3 years.
Current credit cards
(? $1k) Costco AMEX - I don't really use my Costco membership anymore - I've gone once or twice in the last 6 months and usually end up buying mostly stuff I don't need.
($1k) Delta AMEX - Their flights are expensive, even for award flights.
(~$8k) Chase United Visa - I haven't flown United since I took a trip overseas a couple years ago. I also can't use the $99 companion pass because I don't have much time off to fly and I don't have anyone to travel with.
($1k) Barclays US Airways MasterCard - I can't remember the last time I flew US Airways. I have wasted hours with both Barclays and US Airways over an issue of getting issued and then accessing my signup bonus miles that were supposed to have been issued almost a year ago. I still don't have access to them and am totally fed up with US Airways.
No fee (CL in parentheses):
($2k) FIA AMEX (2% CB on everything)
($2k) FIA Visa (1.5% CB on everything)
($500) BofA Visa (no CB afaik, but it's the first credit card I received)
(~$8k) US Bank Cash+ Visa (1% CB on everything with rotating 2% & 5% categories; recently, they removed some of the useful categories like bill pay; I only use it for 5% CB at restaurants)
($3k) Chase Freedom Visa (1% CB on everything with rotating 5% categories; also grandfathered in for the 10&10 package; this is my go-to card for purchases $10 or under, unless it's a restaurant purchase above $2)
Credit card signup offers I'm thinking about:
- Chase British Airways - 50k Avios for $1k spend in 3 months. While it is chip & pin and has no foreign exchange fee, the $95AF is NOT waived the first year, however. I've never flown BA and it's been years since I flew AA. Only considering it because it has a low spend requirement.
- AMEX Premier Rewards Gold - 50k Membership Rewards points for $1k spend in months
- AMEX Blue Cash Everyday - $150 back with $500 spend in 3 months
- Discover It - no signup bonus, but no annual fee or foreign transaction fee (I think it's the only Discover consumer card available atm)
- Barclays Frontier Mastercard - 35k miles with $750 spend in 3 months + 10k miles for balance transfer.