More Plastic

Several months ago I did my largest round of credit card applications in many years, applying for 7 new rewards cards.  Fortunately I was approved for all 7, but they weren’t all instant, and it also created a near shutdown for me with one of my banks.  Until being banned by MoneyGram this past weekend, I had room to do more manufactured spend but didn’t have the cards and credit limits that would make that safely feasible.

The cards that I applied for this quarter were targeted for various reasons, some for MS opportunity, and others more for the points and/or rewards offered.

Wells Fargo Propel World – 40,000 sign-up bonus with$100 air incidental credit (per cardmember year).  Annual fee waived first year.

Result:  Declined.  Appealed via reconsideration call.  Denied reconsideration due to “too many recent credit inquiries”.  Wells Fargo approvals aren’t easy to come by, and I was foolish to apply for the card within the 90 days from my (7) applications in the previous quarter.  I haven’t had much luck with Wells Fargo.

American Express Gold Card – 40,000 point sign-up bonus, $250 annual fee not waived year 1.  4x earnings for grocery and dining purchases.  3x for travel spend.

Result:  Instantly approved.  No hard credit pull performed.  Until now I have been purchasing Whole Foods gift cards at Staples via the Chase Ink Plus to earn 5x on those purchases.  I’d also buy gift cards for co-op, Trader Joes, and other local supermarket gift cards via quarterly 5x categories on the Chase Freedom to get 5x on virtually all of my grocery spend.  The Amex Gold card will likely replace all of that planning and effort.  If I earn a single point less on that spend (4x Membership Rewards vs. 5x Chase Ultimate Rewards) it’s not a big deal.

American Express Green Card – 35,000 point sign-up bonus plus $150 Away (luggage) credit. $150 annual fee not waived year 1.  Earns 3X on travel and transit (flights, hotels, taxis, and rideshares) and 3X dining.  Likely not a long term card, but the sign-up bonus was appealing.  Cashing out via the Schwab would be $437.50.  Take out the $150 annual fee, and I’m still $287.50 ahead, all without a hard credit pull.

Result:  Instantly approved.  No credit pull performed.

Mystery Card – it’s kind of lame to not list my card that I applied for.  I get that.  I don’t enjoy not naming the card either.  But this isn’t a well known card and my play with it also isn’t out in the open.  I’d rather keep it that way.

Result:  Instantly approved.

In general it was a successful small batch of credit card applications and approvals.