12-27-2012 08:50 AM
I went from $0 to $3500 in a year...not as much as you but works for me...lol.
12-27-2012 08:53 AM
your fico scores will take a hit because of the sheer number of inquiries in the past year. Aside from that you should be ok. As another poster said though, watch out because those annual fees end up counteracting any rewards you will get.
12-27-2012 08:55 AM
12-27-2012 08:59 AM
Injust, that is great! This year I went from 1100 to 3100 so you did better than me. I am still waiting on the last approval to go through which probably won't be until January. So you definitely beat me. 0 to 3500 is a BIG accomplishment! Don't feel bad.
Thank you, thank you. I have a few cards with "toy" limits. The goal for next year is to get a few new accounts with higher limits and then consolidating a little. By November 2013 my EQ will be clean, so I will probably go for a Chase or Discover card then.
12-27-2012 09:05 AM
There was a small windown in which you could backdoor the application through. I have heard the window is now closed and all Palladium applications must go through a private client banker.
12-27-2012 09:07 AM
12-27-2012 09:07 AM
Barclays has been known to shut down accounts if they see tons of inquiries hitting shortly after opening a new card with them. If all of those are hitting at the same time I'd be on the watch for this to give you a heads up
12-27-2012 09:07 AM
This year has been big for me in rebuilding as well.
I also increased my limits from $2250 to $23,250 ($13,250 in credit limits and a $10,000 auto loan).
My credit score took some hit because of the inquiries and new accounts, but i think it is going to be positive in the long run!!!
12-27-2012 09:12 AM
I know that my spending will not justify the nearly $1000 in annual fees. I don't travel nearly enough to take advantage of the mileage plans either. However, if you want to calculate AF vs rewards, I've earned enough to justify the AF for the next 2 years. 100k Ultimate Rewards points for the Palladium, $400 from the Sapphire Preferred, 50,000 Membership Rewards points from the Gold Premier Rewards, $200 from the Bofa Privileges, 40k AA miles from the AAdvantage, nearly $300 from Discover card. I know many members in this forum are sensitive to annual fees, but I am not. I can afford them, and like I said in the original post, I think of credit as cheap insurance. For me, credit is my slave. I use it when I need it. I will no longer be a slave to credit...
12-27-2012 09:17 AM
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