Third Round Of CC Apps - Help

Discussion in 'General Discussion | Credit Cards' started by Traveling Momma, Jul 29, 2013.  |  Print Topic

  1. Traveling Momma

    Traveling Momma Silver Member

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    Hi all -

    I'm coming up on my third round of credit card applications and would appreciate your input here. Here's what I have so far.



    Date
    Applied Type Appr.
    Y/N Merchant
    Expected CC Points

    2/15/2013 b y Southwest Visa 50,000
    2/15/2013 p y Southwest Visa 50,000
    2/15/2013 p y Citi AA Visa
    Platinum Level 50,000
    2/15/2013 b y Chase Ink MC 50,000
    5/9/2013 b y Chase Ink Bold 50,000
    5/9/2013 p y Chase Sapphire 40,000
    5/9/2013 p y Hilton Reserve 2 wknd nights
    5/9/2013 p y Amex SPG 25,000
    5/9/2013 b y Amex Gold 75,000
    5/9/2013 p y Barclay's Luftahansa 50,000
    5/9/2013 b n Citi AA Visa 50,000
    The Citi AA Visa on 5/9 was declined because I already had too many inquiries.

    I'm thinking this is a good mix for my next round:

    1. US airways MC
    2. Club Carlson
    3. Chase Freedom (I like the rotating points. I have access to good manufactured spend)
    4. Hyatt
    5. BA for 50K avios for short trips ORD TO YYZ or BOS on Air Lingus
    What do you think? Too many, too little. We have a trip to Bangkok planned in March 2014, Utah in November of '13, Florida in December of '13 and we'd like to plan Italy June/July 2014, Costa Rica X mas of 2014.

    I'm starting to run out of cards to apply for and I'm only 6 months into the game. Does anyone else have this problem?
    Thanks.
     
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  2. servo

    servo Silver Member

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    You don't ever "run out" of cards. You just adjust your strategy for what's available. Then you cancel and sign up for the same cards after a while. You've got 3 Chase cards listed in this round - I'd doubt you'd get all 3 if you're an average player in this game like me (i.e. under 6 figure salary) unless you have a significant amount of non-credit card business with Chase, typically the rule of thumb is 1 business and 1 personal per bank per quarter. It's not a steadfast rule, so you might get them, but you might not.

    Perhaps skip the Freedom or Hyatt for now (depending on how badly you need Hyatt points/nights). You have ways to get UR points now, so there's no need to rush into the Freedom as far as I'm concerned. There are many ways to get from ORD/MDW to Florida (my homebase is MCO). Avios would work great if you come during the week. It's tough to find sAAver space on weekends to and from ORD.

    Maybe look into a BofA card that might make sense for your trips, or more Hilton cards (if you already have Gold from the Reserve Visa, maybe just go for the base Hilton Amex, and then bump up to Surpass - either one gives access to the AXON awards). You didn't have any Amex in this batch, and if Citi denied last go around, probably best to give it another 3 month rest with them to be on the safe side. You don't want to blow another inquiry.
     
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  3. Traveling Momma

    Traveling Momma Silver Member

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    Thanks Servo. Good suggestions.
     
  4. edekba

    edekba Gold Member

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    ... I would take a chill pill but that's just me.
     
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  5. Traveling Momma

    Traveling Momma Silver Member

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    Really? Why? I thought waiting the 90 days makes it drop off your report. I have amazing credit, run a business with documented 5 year history and large expenses. I spend about 20k a month personally and love to travel in style. Everything I've read says you do a new round every 90 days or so to rack up more points. I redeem them as fast as I accrue them.

    Does anyone else think doing apps every 90 days is a bad idea, of 4-6 apps at time both biz and personal?
     
  6. LAM

    LAM Silver Member

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    You may want some backups. The Club Carlson card has been hard to get for some people with a lot of inquiries or you might get the lower level card. Some people have also had problems with Barclays. I don't have your income/expenditures and was able to get a 2nd US Air card.
     
  7. edekba

    edekba Gold Member

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    Technically it doesn't fall off till 2 years... Not 90 days. With all these apps you're bound to run into too many hard inquiries problem like Citi.

    I am by no means saying stop... If you have the credit and funds. But if you're spending 20k a month personally.. You shouldn't be in such a rush to get all these cards. You should be racking up plenty of points. Sooner or later you will run into the problem of getting cards that are less useful to you. (FTG had a post recently about this)

    Just pick and choose what you need/want. You never know when an issuer will do a better offer and if you already got the card you'll be out of luck.

    That's all.
     
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  8. Traveling Momma

    Traveling Momma Silver Member

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    Got it. Good advice. Thanks really looking at this with me. I appreciate it. Cheers!
     
  9. julielou2
    Original Member

    julielou2 Silver Member

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    It would seem to me that a person cannot sustain doing credit applications at this level for very long. I'm just thinking about how your credit report would look. Lines of credit stay on your credit report 10 years after account closure. I just pulled my credit report off annualcreditreport.com. I don't consider myself a churner of credit cards and yet my Equifax report was 32 pages long...my Experian report was 26 pages...and my Transunion report was 24 pages. Maybe I'm wrong...but...if I was a credit analyst and I was looking at an extremely thick credit report...that in itself would make me hesitant to approve yet another application.
     
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  10. ezb

    ezb Silver Member

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    Based on this statement, you should be racking up miles with the correct card. 20K per month on the United Club card will get you at least 30K miles per month, or 360K miles per year.

    I just did a lot of research myself and this by far is the best card for someone who spends that much per month if you want to earn miles quickly.
     
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  11. edekba

    edekba Gold Member

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    if you have that much cashflow you should also look into putting money into investment accounts. I know TD had a deal for some AA miles for a while then another company had another deal.
     
  12. Traveling Momma

    Traveling Momma Silver Member

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    Ha! I wish....These are necessary life expenses like tuition, car payment, mortgage, cable, food, dining, etc... that keep the engines moving every day.

    I should note here though that we do max out SEP IRA and 401K each month so we're covered on the retirement front. I've looked into opening a TD account but it's too much work for low yield and our investments are managed elsewhere.
     
  13. Traveling Momma

    Traveling Momma Silver Member

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    Right now I'm putting everything on my SPG card for flexibility unless another card will provide some sort of category bonus. I'll look into the United Club card today too.
     
  14. edekba

    edekba Gold Member

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    you only have to keep them in there for a few months ... it might be worth looking into.

    SPG is a HORRIBLE partner to UA ... 2:1. Seems like you have a batman ton of UR points that you will be using for UA for flights (I think) so maybe getting the UA Club + SPG would be your best bet?

    Have you determined what you're using for Bangkok/Italy? Maybe that'll help you know where to concentrate your spending to replenish some of it
     
  15. Traveling Momma

    Traveling Momma Silver Member

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    Bangkok is booked already. We used AA on the way there and UA back. For italy it looks like United given all my Star Alliance partners. I'm accuring SPG for hotels. I just used all my SPG except for 30,000 for the Westin Diplomat for 5 days over Christmas. The hotel rate was $399 + tax so this was a good redemption for me.
     
  16. Kalboz
    Original Member

    Kalboz Gold Member

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    And, also you have to wait at least 18 months between the Citibank 50K AA applications. :)

    You don't have the the AMEX HH Surpass for 65K HH points ($325 value)? You might want to wait six months between your AMEX personal applications for cards you currently don't have (like the HH, Delta, etc.).

    You may also apply for one personal & one business card from each bank during your periodic AOR. Very few people get two applications approved at the same time from the same bank.
     
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  17. ezb

    ezb Silver Member

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    Check this site out and you will see that for air travel [both domestic and International], that the United Club card is best option when you spend 20K per month, with SPG at #2.

    http://milecards.com/12/travel-credit-card-calculator/
     
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  18. servo

    servo Silver Member

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    That's a nice site, but I doubt that most people could spend $20k a month on SPG only and not wind up with a FR rather quickly. Very few of us put all our travel eggs on one card, to spread the point/mile wealth, and to keep the fraud departments at bay.
     
  19. ezb

    ezb Silver Member

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    Wasn't advocating using only that card, just advising that it was more bang for the buck than SPG.
    Personally, I spread it out among United Club, AAdvantage Platinum, and several others.
    What is a "FR"?
     
  20. edekba

    edekba Gold Member

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    financial review
     
  21. servo

    servo Silver Member

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    The implication, I believe, was in the website - nothing you said in particular. It looks to me like the website recommends ONE card to use for your spend, so entering $20k a month when you want to spread among 4-5 cards is an incorrect entry. It would be $4-5k per month if everything is equally spread. The winner then comes down to how you spread out your spend among the categories, but with the stock amounts, and even putting in my typical spend of $4k for my higher use cards, I come up with Amex Premier Rewards Gold #1 Sapphire Preferred #2 and SPG #3 in a virtual tie with the base United Explorer.

    FR is the American Express Financial Review. You don't want one. Even if you end up keeping your card(s), it's a major hassle.
     
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  22. ezb

    ezb Silver Member

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    Thanks for the clarification.
     
  23. Traveling Momma

    Traveling Momma Silver Member

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    Servo - you make good points.

    Another question for the group:
    What is the average amount of apps annually you other Milepointers are completing in a year? And, to take this a bit further, how many cards does one get in each round? It would be helpful to get others figures as benchmarks for my approach.

    Our goals is to accrue as many miles as possible annual to take 3 - 4 audacious international trips for 3 people in the most luxurious class possible. I don't want to get declined too many cards, or create a negative record, but do want to push the boundaries of the "normal" range. I'm comfortable being aggressive because we own our home, have large amounts of equity, are middle aged, double income professionals with two documented separate income producing businesses with hubby as a 17 year professional employee as a VP and MD at a world renowned medical teaching medical university. We have never had an issue with credit and our score are in the top percentile.

    Your input is welcomed.
     
  24. edekba

    edekba Gold Member

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    I do it 3x a year. Usually 2-4 cards.

    I started last march and have gotten 9 cards.

    SPG
    Amex Hilton
    Citi AA
    CSP
    Ink classic
    Southwest
    UA
    Hyatt
    IHG

    Gf (more conservative) and started in June of last year.
    SPG
    Hilton reserve
    Citi AA
    Citi AA Amex
    Club Carlson
    United
    Southwest
     
  25. Traveling Momma

    Traveling Momma Silver Member

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    Thanks for the input. I'm curious if this is the norm though.
     

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