App Spree! Finally!

Anonymous · ‎10-31-2015

I've been planning this app spree for a month since we got our conditional approval on the house. Friday we picked up keys and I went to town. I should mention that I still have a fraud alert on my credit reports from a couple months back when my purse was stolen so I knew it would not be instant approvals. Especially with my low-ish scores. Nothing has ever been easy for me anyway so I prepped myself to recon. Below is what I apped for and the results (so far). I have to send in additional info in some cases on Monday to substantiate my identity. But here are the results:

1. Barclay first. Instant denial on both Rewards and Apple. I thought this would be the easier approval but it didn't turn out to be. I reconned this AM without success. They said they wanted to see a little more time positive payment history. I completely understood.

2. Then I apped Discover. 7-10 day message. They called me within 1 hour, verified my info and then approved me for $1000 limit on DiscoverIt. I reconned this AM but they want to see how I do with that starter limit.

3. BofA - apped this with my husband. Offer was for the rewards card. I have to call Monday to give them more info. Not an instant approval. But I'm pretty sure we will get this one since I apped with my hubby.

4. NFCU - approved for both the Refis on our used cars (5% interest from 13% and 9% for both me and hubby). $7500 SL on visa sig flagship (woohoo! This was the travel card I wanted!)

5. Capital one QS and Venture. They need me to fax over my ss card and proof of address for both. I'll do it on Monday. So, pretty sure I'll be approved just don't know limits yet.

But as of today I've added two prime cards (one on my own and one with hubby) and $8500 in rewards cards SLs. So stoked! I'll update about BoA and Cap1 cards come early next week when I can send them info. Zero Instant approvals and ZERO prequals on any site - I tried them ALL. I used the credit pulls database to estimate my chances and put a strategy together. All because of myfico and the awesome advice! Even though I didn't listen to "some" of the advice lol. I cold apped everything and it looks like Barclays may be my only wasted pull.

9CLINE · ‎10-31-2015

Congrats on approvals....

CreditMagic7 · ‎10-31-2015

Congrats! on making it thru the spree in pretty good shape

Anomalous · ‎10-31-2015

Congratulations!

Keep both your credit and your body in top shape!

Gmood1 · ‎10-31-2015

Congrats!!

Country_Feller · ‎10-31-2015

Way to go, Congratulations!!!

myFICO=EQ 702, TU 716, EX 743br>EQ=11//TU=15//EX=11/Util 14%. Gardening since 01/02/2017.

tntexans72 · ‎10-31-2015

Did your mortgage report to your reports? You should let it do and sit tight for 6 months than do your app spree IMO.

Anonymous · ‎11-01-2015

Tntexans82, no we literally got the keys on Friday so the mortgage will not likely report until after our first payment in Dec. That being said, I would normally agree with you: a few months of timely payments and my score will be good enough that app spree should be easy. Except that this is a VA loan and according to my score we landed a highish interest rate: 4.1% with a points buy down (paid for by the seller, not us). In 6 months I want to show an excellent credit score so we can shave .25% off the interest rate and do a streamlined refi. Since I only had 1 cc and 1 store card, and my total avail credit was a mere $2000, I would not be maximimizing my financial or credit portfolio EVER. If I carry even a tiny balance on more that 1 card my score plummets. If I pay them both to zero. My score plummets. If I carry more than $150 on one month on one card my score plummets. Not only did I need room, I needed the CLs to Max UTIL ratios and keep my score climbing. I need to get rebucketed to have a chance to shoot for 700 plus scores in 6 months. While your advice is sound, it's not right for my specific goals and credit profile. Also, it's not like I opened with credit one just to max my score. All my cards are prime cards.

Anonymous · ‎11-01-2015

Oh and I'm in the garden now. I don't anticipate any HPs after this for at least 6 months to a year

elim · ‎11-01-2015

@Anonymous wrote:
Tntexans82, no we literally got the keys on Friday so the mortgage will not likely report until after our first payment in Dec. That being said, I would normally agree with you: a few months of timely payments and my score will be good enough that app spree should be easy. Except that this is a VA loan and according to my score we landed a highish interest rate: 4.1% with a points buy down (paid for by the seller, not us). In 6 months I want to show an excellent credit score so we can shave .25% off the interest rate and do a streamlined refi. Since I only had 1 cc and 1 store card, and my total avail credit was a mere $2000, I would not be maximimizing my financial or credit portfolio EVER. If I carry even a tiny balance on more that 1 card my score plummets. If I pay them both to zero. My score plummets. If I carry more than $150 on one month on one card my score plummets. Not only did I need room, I needed the CLs to Max UTIL ratios and keep my score climbing. I need to get rebucketed to have a chance to shoot for 700 plus scores in 6 months. While your advice is sound, it's not right for my specific goals and credit profile. Also, it's not like I opened with credit one just to max my score. All my cards are prime cards.

you did real good. remember... new credit + new home = major debt to some of us. you have plenty of time to make your home your own so, do a little, pay it off, rinse, repeat.

congrats

now lock the apps down in the garden for however long it takes (6-9-12 months) in CLI mode and you can probably pick most any card you want.