Current Events > just got approved for the Chase Sapphire Reserve

(+) Yeah! (+)

awww yeah. im officially a big baller.

for 450 a year i get:
access to airport lounges
1.5x redemption value when buying tickets through chase
300 dollars free travel credit
global entry/tsa pre whatever credit, 100 dollars.
3x points back on travel and dining
50k points after 4k spend in the first 3 months.

so that makes

-Chase Sapphire Reserve, 7k
-Chase Sapphire Preferred, 9k
-American Express Blue Cash Everyday, 15k
-NFCU cashRewards, 13k
-Chase Amazon Prime Rewards, 2.6k

numbers are credit limits.

Chase has a rule where you can only get 5 new cards every two years, either with them or elsewhere. if you have more than that, they auto-deny you, even if you have a 850 credit score and an income of 10,000,000. right now im at 4 cards so i plan to get the Hyatt card or the Chase Ink Preferred (though i got denied applying for it recently, but i might call in and ask to see what i can do)

then my plan after chase cards is to get the American Express Premier Rewards Gold Card.

as long as i dont go crazy and max out my credit cards, my credit score is gonna be so high in a couple years!!!

my goal is to get a car loan and <3%, and a mortgage at <5%.
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lol CE. probably still using debit cards lolololololololol
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You can already get a house at under 5%
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Weren't you the guy complaining about being in debt recently?

I got mine back when it was 100k points bonus. It's a great card TC. Good choice.
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are you going to buy another Switch with it
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What's the APR on that?
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What's your score right now and why, going by your topics in recent months, have you taken close to like 8 hard hits?
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Having this many credit cards is fucking stupid

But being poor with credit is one of your gimmicks I guess

Have fun paying all that interest and yearly fees
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TheGoldenEel posted...

Having this many credit cards is fucking stupid

But being poor with credit is one of your gimmicks I guess

Have fun paying all that interest and yearly fees

it's actually very common and the yearly fees for those cards adds up to $600 as the reserve is $450 and the preferred is $150

the interest is only if he carries balances, idk his habits. I don't see how it's being poor with credit if he handles it well

I have only 2 myself but my credit score is pretty good. I do need some more accounts to bring it up since having more accounts is a credit factor for whatever reason

but also sucks you missed out on the 100k bonus points :^)
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drunkmuggle posted...

TheGoldenEel posted...

Having this many credit cards is fucking stupid

But being poor with credit is one of your gimmicks I guess

Have fun paying all that interest and yearly fees

it's actually very common and the yearly fees for those cards adds up to $600 as the reserve is $450 and the preferred is $150

the interest is only if he carries balances, idk his habits. I don't see how it's being poor with credit if he handles it well

I have only 2 myself but my credit score is pretty good. I do need some more accounts to bring it up since having more accounts is a credit factor for whatever reason

but also sucks you missed out on the 100k bonus points :^)

This is a person who has recently made topics about struggling to pay rent

There is no reason for a credit limit that high for someone like him, and you know he's going to spend those amounts to earn the bonuses on those cards. It might sound like a good deal but if you weren't going to spend that 4k in three months in the first place it's just extra expense

He makes these repeated topics about trying to raise his credit score but has all the signs of a person that will just go into serious debt

Source: me, my credit score is in the 780s
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PoopPotato posted...

What's the APR on that?

effectively 0 because i wont ever carry a balance, but i got 19.something% APR.DoctorVader posted...

What's your score right now and why, going by your topics in recent months, have you taken close to like 8 hard hits?

right now its at 682. as far as hard pulls go, i only have 3. 4 if you count my recent apartment application. but the NFCU was back in october and doesnt affect my score anymore. the amex was january, and the preferred was february. the amazon card i got 5 years ago.

like i said, im trying to churn these cards. get the sign up bonus and close/change the card. im 900 dollars away form getting my 50k sign up points from my preferred. once i do that and i collect the points, im going to change it to a Chase Freedom Unlimited or the regular Freedom. then i can rack up points on points and points and spend it on a future trip to Asia.

as for long time, like i said. with all the new accounts and higher credit limits, itll improve my score in the long run. contrary to logic, having a lot of credit cards (that are in good standing) is good. it proves you know how to pay your debts. they'd rather approve something with 10 credit cards with no late payments, than one person with 2 accounts with a late payment.
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drunkmuggle posted...

it's actually very common and the yearly fees for those cards adds up to $600 as the reserve is $450 and the preferred is $150

the interest is only if he carries balances, idk his habits. I don't see how it's being poor with credit if he handles it well

I have only 2 myself but my credit score is pretty good. I do need some more accounts to bring it up since having more accounts is a credit factor for whatever reason

but also sucks you missed out on the 100k bonus points :^)

the reserve is 450 dollars, but you get 300 dollars in travel credit. so effectively its 150 for all these perks. but you're getting up to 750 dollars of sign up bonuses so its effective cost is nothing (at least for me).

my preferred is 95 a year, but the first year is waived. if i change it/cancel it before its posted, i wont have to pay.

the rest of my cards don't have an annual fee.

yeah i missed out on 100k, but its okay. i dont htink i could have gotten approved for it back then anyway.

definitely go for chase cards first until you have more than 5 cards in the last 2 years. then check out the amex cards like the Starwoods Prefferred Guest Amex card. great value for their points.
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Congrats on the annual fees and having to spend thousands of dollars to get the bonus (unless you have some mandatory things to buy already).
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my credit score is like high 700s so I don't necessarily need the cards, only if I really want them. right now I'm fine with what I have but depending on what deals companies have going on I will take advantage

I also did not know you were struggling to pay rent and all that shit so now idk if I support this
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drunkmuggle posted...

my credit score is like high 700s so I don't necessarily need the cards, only if I really want them. right now I'm fine with what I have but depending on what deals companies have going on I will take advantage

I also did not know you were struggling to pay rent and all that shit so now idk if I support this

He said something about defaulting on his student loans too at one point. Someone went into bankruptcy

TheGoldenEel posted...

Having this many credit cards is fucking stupid

Sign up bonuses are free money.

Ampelas posted...

drunkmuggle posted...

my credit score is like high 700s so I don't necessarily need the cards, only if I really want them. right now I'm fine with what I have but depending on what deals companies have going on I will take advantage

I also did not know you were struggling to pay rent and all that shit so now idk if I support this

He said something about defaulting on his student loans too at one point. Someone went into bankruptcy

His parents/co-signers filed for bankruptcy so his loan defaulted

Dunno why seeing your own parents with massive debt they can't even pay would make a person want to open up a bunch of credit cards

I continue to hope this is just a gimmick
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it's bluemonk. everything he posts is a gimmick

clearaflagrantj posted...

TheGoldenEel posted...

Having this many credit cards is fucking stupid

Sign up bonuses are free money.

Most of these cards are "spend x amount in a certain amount of time" to get the bonuses, not just straight up bonuses
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TheGoldenEel posted...

clearaflagrantj posted...

TheGoldenEel posted...

Having this many credit cards is fucking stupid

Sign up bonuses are free money.

Most of these cards are "spend x amount in a certain amount of time" to get the bonuses, not just straight up bonuses

Yeah. you never get the bonus just for signing up you have to actually use the card.

Now, what you can do if you're smart (or maybe not) is apply for cards that give you rewards + 0% financing on balance transfers and then shuffle around your balance, pulling rewards from those cards as much as you can. Probably not a good idea in the long term.
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MixedRaceBaby posted...

right now its at 682. as far as hard pulls go, i only have 3. 4 if you count my recent apartment application. but the NFCU was back in october and doesnt affect my score anymore. the amex was january, and the preferred was february. the amazon card i got 5 years ago.

like i said, im trying to churn these cards. get the sign up bonus and close/change the card. im 900 dollars away form getting my 50k sign up points from my preferred. once i do that and i collect the points, im going to change it to a Chase Freedom Unlimited or the regular Freedom. then i can rack up points on points and points and spend it on a future trip to Asia.

as for long time, like i said. with all the new accounts and higher credit limits, itll improve my score in the long run. contrary to logic, having a lot of credit cards (that are in good standing) is good. it proves you know how to pay your debts. they'd rather approve something with 10 credit cards with no late payments, than one person with 2 accounts with a late payment.

You've mentioned before that you've been denied on things. Those count as hard pulls as well.

Also, churning is for people with high scores, not really people trying to build credit unless you already have a couple of decade old accounts, which you might have, so I don't know. Mine is 810 and I can easily play around since I have a long history with tons of accounts.

What you're doing is not bad. It's just that you personally don't seem too experienced at it to take these risks.
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SK8T3R215 posted...

Congrats on the annual fees and having to spend thousands of dollars to get the bonus (unless you have some mandatory things to buy already).

yeah i have 3 months to spend 4k but i can do that easily.

drunkmuggle posted...

I also did not know you were struggling to pay rent and all that shit so now idk if I support this

i dont stuggle to make rent. who's saying this???

clearaflagrantj posted...

Sign up bonuses are free money.

yesssss. ill have 100,000k points when im done. thats 1500 dollars when redeemed!

DoctorVader posted...

You've mentioned before that you've been denied on things. Those count as hard pulls as well.

i haven't been denied. in fact my Ink Preferred was my first denial. but i may recon. in fact i applied for the CSR the same day so they combined pulls. so only one pull for 2 apps.


DoctorVader posted...

Also, churning is for people with high scores, not really people trying to build credit unless you already have a couple of decade old accounts, which you might have, so I don't know. Mine is 810 and I can easily play around since I have a long history with tons of accounts.

dunno, ive been churning pretty well so far.

DoctorVader posted...

What you're doing is not bad. It's just that you personally don't seem too experienced at it to take these risks.

what have i been doing wrong
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MixedRaceBaby posted...

SK8T3R215 posted...
Congrats on the annual fees and having to spend thousands of dollars to get the bonus (unless you have some mandatory things to buy already).

yeah i have 3 months to spend 4k but i can do that easily.

Do you usually spend $4K in 3 months or do you have to spend money on things you normally wouldn't?
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SK8T3R215 posted...

Do you usually spend $4K in 3 months or do you have to spend money on things you normally wouldn't?

my normal budget for a month is 3700 in expenses.
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MixedRaceBaby posted...

SK8T3R215 posted...

Do you usually spend $4K in 3 months or do you have to spend money on things you normally wouldn't?

my normal budget for a month is 3700 in expenses.

$3700 on credit cards?
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SK8T3R215 posted...

$3700 on credit cards?

no not all of it. about 2k is on the card.

but i can if i wanted to.

Plastiq.com

or i can go
Credit Card> Visa Gift Card > Money Order > Bank Account > Pay Credit Card.
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MixedRaceBaby posted...

SK8T3R215 posted...

$3700 on credit cards?

no not all of it. about 2k is on the card.

but i can if i wanted to.

Plastiq.com

or i can go
Credit Card> Visa Gift Card > Money Order > Bank Account > Pay Credit Card.

How do you spend $2K a month on your cards? So you'll normally spend $6K on your cards in 3 months on your normal day to day expenses?
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I use that as my primary card now. It's great.
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SK8T3R215 posted...

How do you spend $2K a month on your cards? So you'll normally spend $6K on your cards in 3 months on your normal day to day expenses?

yeah i guess.

i have a lot of bills, loans that can be paid with card. etc. i have a household of 2. so its not just me im feeding.

i just put everything on the card and at the end of the month pay it all off.
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The Admiral posted...

I use that as my primary card now. It's great.

my plan for when im taking a break from churning is to get my gf to get the Freedom, product change my CSP to the Freedom, and use the CSR.

with 2 freedoms, we'll effectively be able to get that 5% category bonus on twice the limit, so 3000. 3x for dining and whatever.

and if im lucky and i can get the Ink Preferred, then use that for gas, internet bills, phone bills, etc. for 3x points.

all these points yesss
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Wow, mortgages in the US are expensive.

Here in France you can with a normal job get a 2.5 loan for 20 years. 2 for 25y.
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SK8T3R215 posted...

Congrats on the annual fees and having to spend thousands of dollars to get the bonus (unless you have some mandatory things to buy already).

People who credit card churn usually apply necessary items onto the card. I for one can pay my internet, electric bill, rent (though this one has a fee so I don't normally do this, but does wonders to reach those 3-4k requirements in first few months, if needed).

I know students who put tuition bills on there.

Also, often, when you call toward the end of the year you can get the annual fee of the card waived. First year is usually free too. If they won't waive it, you can always just downgrade the card to their entry option card to avoid the fee.

If you have good credit already and aren't impulsive with purchases, you can actually get some substantial benefits with churning.
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Soviet_Poland posted...

If you have good credit already and aren't impulsive with purchases, you can actually get some substantial benefits with churning.

yeah seriously. i may have 5 credit cards, but i dont carry balances unless i have 0% interest and i have enough income to sustain it. im making THOUSANDS of dollars in churning, yet folks here are telling me im financially irresponsible. lol okay.

have fun flying economy. ill be up in first class sipping champagne and getting my back massaged.
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MixedRaceBaby posted...

yeah seriously. i may have 5 credit cards, but i dont carry balances unless i have 0% interest and i have enough income to sustain it. im making THOUSANDS of dollars in churning, yet folks here are telling me im financially irresponsible. lol okay.

have fun flying economy. ill be up in first class sipping champagne and getting my back massaged.

There is something to be said about keeping track of it all--knowing when the annual fee is due to call them up. Which ones require "x" spending in first few months, having to go through the applications and the like. Managing all the accounts.

I think if I was much wealthier I wouldn't bother with all the time required. And I think people in a really low financial standing either don't have much access/opportunity to credit, or are otherwise overly cautious. I don't blame them, credit can really fuck some people and not everyone is comfortable reading fine print.
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MixedRaceBaby posted...

SK8T3R215 posted...

Do you usually spend $4K in 3 months or do you have to spend money on things you normally wouldn't?

my normal budget for a month is 3700 in expenses.

Wtf are you spending 3700 a month on with no mortgage?
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chrono625 posted...

Wtf are you spending 3700 a month on with no mortgage?

Half that can be rent alone, depending on location.
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Soviet_Poland posted...

There is something to be said about keeping track of it all--knowing when the annual fee is due to call them up. Which ones require "x" spending in first few months, having to go through the applications and the like. Managing all the accounts.

yeah i see your point. i use Mint.com to manage everything. if any fees get posted, itll show up in my transactions, even if im not actively checking the card. then i can take action.

ive read online of people with 20 plus cards. so my 5 is nothing lol.

chrono625 posted...

Wtf are you spending 3700 a month on with no mortgage?

i pay rent bro. i live in the SF Bay Area. rent is expensive here.
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