Application Spree /App O Rama

[Anonymous]

I am opening up a brick and mortar and I don't want to use all my cash..(already tried loans -with out HP-didn't work out) However,  I want to go on an app spree to receive at least $25k in credit. I have five cards now -all since about 2011- Lowes 0 bal CL 600- Best Buy 0 bal CL 600- Captial one Bal is about $100 CL $1,500 - Captial One Bal is about $200 CL 800 and Discover Bal is $4000 CL $10,600 - right now discover is not showing on my reports because of fraud activity (got a new card and its not showing yet) - My scores range from 706 -725 with the three CB - I am looking for advice on how to do the app spree and which cards should I apply for - My income is $100k year

[Anonymous]

Southwest Visa and Carnival Mastercard gave me my biggest limits, southwest has been very generous with CL, you could also try Chase Freedom.

[Anonymous]

Navy FCU is crazy generous, Southwest also gave me one of my biggest CLs

As for the spree, I tend to go from hardest to obtain to the easiest unless there's a card I must have

[Anonymous]

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@Anonymous wrote:

I am opening up a brick and mortar and I don't want to use all my cash..(already tried loans -with out HP-didn't work out) However,  I want to go on an app spree to receive at least $25k in credit. I have five cards now -all since about 2011- Lowes 0 bal CL 600- Best Buy 0 bal CL 600- Captial one Bal is about $100 CL $1,500 - Captial One Bal is about $200 CL 800 and Discover Bal is $4000 CL $10,600 - right now discover is not showing on my reports because of fraud activity (got a new card and its not showing yet) - My scores range from 706 -725 with the three CB - I am looking for advice on how to do the app spree and which cards should I apply for - My income is $100k year

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Business card or LOC might be your best bet here.

Real risky personally guaranteeing a B&M on plastic. However if you insist on going down this pothole ridden road. I'd suggest getting your utilization down to get access to the highest limits possible.

[ABC123TLC]

DO NOT fund a Brick & Mortar on Personal Credit cards

Either get a business LOC... or a Business Credit Card  Try for the BJ's Mastercard.... or BOA

And make sure you apply for credit before you need it in business... you dont want the UTL reporting on your credit (you'll never get more credit)

Something to think about down the road... PayPal working capital (with paypal here (its better than square) it is a low fee extra cash for inventory etc...)

I hope you are Inc. or LLC

[Anonymous]

Thanks for all the feedback. My objection is to not to fund the B&M with credit cards entirely - but to use about $25k in credit card so that I can keep more in reserve. Another question is how does the app spree work? Do I just apply for various credit cards all within the same hour? or day?

[Anonymous]

Yes, It's an LLC and this is an expansion B&M

[MyDataMyChoice]

Appy for the NO PG BJ's Mastercard for Business

[Anonymous]

You really want a BLOC for expansion.

Interest rates will be better, way better. You will be able to spend it in cash, credit, or write checks. Most BLOC are PG, but some are unsecured(Your going to PG most business cards anyway). If you have inventory/equity go to your bank and let them file a ucc against it.

A BLOC is better for something like expansion. CCs are good for earning rewards on very short term needs with money you would be spending anyway. I never extent debt that i don't plan on pay off in 30-60 days max on a CC, use BLOC for that.

[Anonymous]

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@Anonymous wrote:

Thanks for all the feedback. My objection is to not to fund the B&M with credit cards entirely - but to use about $25k in credit card so that I can keep more in reserve. Another question is how does the app spree work? Do I just apply for various credit cards all within the same hour? or day?

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I like to do them within the same hour lol start with the hardest first because they may not appreciate all the inquiries then work your way to the other cards.