Hi! Should I apply for this card after just receiving these 2?

Discussion in 'General Discussion | Credit Cards' started by nonstopski, Jan 15, 2013.  |  Print Topic

  1. nonstopski

    nonstopski Silver Member

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    Hey guys! Just joined here. I'm relatively new to the game, just starting following some blogs and a little action over at Flyertalk. Had a question for you all.

    I am looking to add another card. I currently have 3 cards, with two more on the way this week:

    - Chase Freedom
    - Chase BP Rewards (terrible card, but I have a short credit history and this is my longest held card - so keeping it for that reason)
    - Banana Republic Card (Run by GE Capital unfortunately, but it's a good rewards card for all the shopping I do at BR)
    - Citi AA Visa (Pending, in my hands in 7 days)
    - Citi AA Amex (Pending, in my hands in 7-10 days)

    My credit is in the 740-760 range, and before this Friday the 11th, I hadn't applied for a card since october 2012 (the chase freedom card)

    Now I am looking to apply for the United Explorer Card (with targeted 50k mileage bonus) and the Chase Sapphire Preferred. I think I'm going to hold off on the CSP for now, because the spending requirements along with the two AA cards is too much to commit to. However, the Explorer just has a $1,000 spending requirement for the 50k, and is definitely doable.

    I'm wondering, after just getting a credit pull Friday the 11th, should I wait to apply for the Explorer? I already have two chase cards, one of which I use heavily, the other (BP card) I keep just because it's my longest held card and my AAoA is relatively short. It seems Chase and Citi pulls are mostly with Equifax in the state of Virginia, where I live. So, applying again may show up as a ton of pulls with just Equifax.

    If I wait, which seems like the best option, I had a few questions:

    1. apply for Explorer and CSP at same time on same day?
    2. How long should I wait? 30 days? 60 days? 90 days?
    3. Does anyone know how long the Targeted Explorer card offer will last, or even the non-targeted (30k offer?)
    4. Could someone explain what small business saturday is (for the AA amex) and what the advantage of it is? I will look into it myself, but it's possibly I guess I wouldn't find anything about it.
     
  2. PointsCashMiles

    PointsCashMiles Silver Member

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    1. I would have applied for both on the same day you applied for the 2 Citi AA cards. At this point I'd probably wait a couple months, but I'm pretty conservative about credit card signups so you may want to do things differently
    2. 60 - 90 days (again this is just what I would do)
    3. There have been similar versions of the 50k Explorer offer pretty consistantly for the last year - I wouldn't worry too much about it going away.
    4. Small Business Saturday is an AmEx promotion they have run the past few years to encourage shopping at local small businesses. On the designated day, AmEx will reimburse $25 of spending at select small businesses. The past 3 years, SBS has been at the end of November. This benefit is available per card, not per cardmember which makes it wildly popular with those who have numerous AmEx cards.
     
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  3. servo

    servo Silver Member

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    First off, welcome!

    1 & 2)Typically, you'll find most of us are applying for one card through each bank per 90 days. It's not impossible to get approved for 2 Chase cards on the same day, but YMMV (your mileage may vary), especially with a limited credit history.

    3) We typically don't know how long an offer will last unless either a) the bank indicates it on the offer they sent you or b) bloggers who have affiliate links advise us when they're told by the card companies that they're removing their links for a particular offer and list the date.

    4) For every AmEx you have, you can register it, spend $25 or more at a participating retailer and get that $25 credited back to you. I got $100 in free stuff this past year for my 4 cards.
     
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  4. thepointstraveler

    thepointstraveler Silver Member

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  5. nonstopski

    nonstopski Silver Member

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    Totally agree on 1. Shoulda, Coulda, Woulda. But sometimes the best way to learn about this stuff is to just dive in (probably not good advice when dealing with credit :D). But yea, I would have liked to do that, but it just didn't occur to me. Didn't have the 50k targeted offer at the time, and found out about it two days after applying for AA. So, now I know. Learned the hard way. And it's ok, I can wait! Seems this offer will stick around.



    that's bad news about applying for two chase cards on the same day or same churn being a bad idea/not working often. I really want the CSP as a regular use card that I won't be downgrading then canceling in a year or two, like I might with another card from a churn. It's a bit like the Freedom in that I see myself keeping it for a number of years. Don't feel the same way about the Explorer. Anyone else have any other experience with applying for two cards with the same bank? Would totally try the two browser method again if that worked. If not, I might seek out an alternative 50k (or more!) signup bonus card at that time. There are a decent amount. The southwest card intrigues me for domestic travel.

    @ThePointsTraveler Seriously. That's how I'm feeling, but I also in the back of my head know what you say is true, haha.

    Thanks for the welcome guys, and you all have been a ton of help in a very short amount of time too! Cheers.
     
  6. mommypoints

    mommypoints Gold Member

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    1. apply for Explorer and CSP at same time on same day?
    Iffy with a short credit history....may work, but also you don't want to do anything to spook Chase. Personally I would err on the side of caution and space them out. I'm VERY conservative with Chase since they have so many of the best offers.
    2. How long should I wait? 30 days? 60 days? 90 days?
    i recommend getting on a 91+ day churn schedule and sticking more or less to that schedule. Again, being conservative, I would probably not include Chase every 3 months.
    3. Does anyone know how long the Targeted Explorer card offer will last, or even the non-targeted (30k offer?)
    Those targetted offers have been around for quite a while, but whether or not you are targeted may come and go. My family members have been targeted consistently for 12+ months. That said, I think it is a great offer. Just make sure to not do anything with your Freedom UR points until you also get the CSP so that you can transfer them 1:1 to hotels and airlines.
    4. Could someone explain what small business saturday is (for the AA amex) and what the advantage of it is? I will look into it myself, but it's possibly I guess I wouldn't find anything about it.
    Sounds like others already explained this, but do a little searching on my blog or others and you will find out all about it. Basically it has been $25 free dollars for each Amex you have the Sat after Thanksgiving if you shop at a small biz in the US.

    Good luck!
     
  7. julesp

    julesp Member

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    Hello! I've had a Chase Freedom for a couple of years and recently applied for both the (30k, because I didn't know about the 50k) United Explorer card and Sapphire Preferred card on the same day and got approved for both. I had last applied for a credit card with my credit union around October or November 2012. In retrospect, I would, like you, wait.
     
  8. hashj01

    hashj01 Active Member

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    I, too, have the Chase Freedom and have had it for many years. I'm thinking of applying for the CSP card for the 40,000 bonus points but was curious if you know if I can still get those bonus points even though I have the Freedom card? I don't want to close my Freedom as it's no annual fee and it's my longest/oldest line of credit.
     

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