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THANK YOU ALL!!!! 2 Approvals (1 for me and 1 for dw)

New Member

THANK YOU ALL!!!! 2 Approvals (1 for me and 1 for dw)

First time posting. I just wanted to tell you all thank you for providing so much insight. I have been reading the forums for a few years here and there whenever I had a question. The last week I have probably spent over 10 hours on here searching and reading. I haven't had a new credit card in years and my dw (I guess darling wife) has never had any other than being an authorized user on mine. 

After much research I really wanted to get the Venture, but I decided to wait a few months since the few inquiries I had from a car loan are set to fall off Jan. 18. However, after so much research I was going crazy not trying for it. My wife and I decided to try for Venture on her since she had no inquiries. Also had no cards of her own just Care Credit and Ashley Furniture. She is a stay at home mom, but I didnt think that would matter since it is household income. She was instantly approved with an SL of $20k. I was shocked and a little jealous! I mean this is her first real credit card, I think mine with Cap One was started at $300.

After the exciement last night, I really wanted to try my own luck. From everyones input I saw that AMEX usually only HPs on Experian and I had no inquiries on Experian. I also noticed people seem to love their AMEX cards. After 4 hours of reading tonight I finally went for it with the Blue Cash Preferred and was approved for $16,300 which I never expected to be that high. The weird number was unlike anything I have seen on these forums. 

 

Stats:

EX 778 (No Inq at time of app with AMEX, now 1 and well worth it)

TU 730 (3 Inq all from Dec. 2015)

EQ 731 (3 Inq all from Dec. 2015)

Highest limit prior to these cards was Cap One Quicksilver at $11k which originally started many years ago at $300 or $500 and not Quicksilver at the time. 

Cap One Pre Qual - DW and I both were shown Venture

Amex Pre Qual - I was shown Everyday, Everyday Preferred and BCE (Not BCP which is what I applied for)

 

Mainly posting this because I felt guilty taking so much info from the forums and not giving back at all. Hopefully this can help someone else considering one of these cards. 

13 REPLIES
Member

Re: THANK YOU ALL!!!! 2 Approvals (1 for me and 1 for dw)

Congrats to both of you!

Starting scores (08/01/2016): TU: 471, EX: 441, EQ: 409
Current FICO (10/13/2017): TU: 676, EX: 670, EQ: 680
Goals: TU: 750, EX: 750, EQ: 750
Established Contributor

Re: THANK YOU ALL!!!! 2 Approvals (1 for me and 1 for dw)

Thanks for the datapoints and many congratulations to the both of you!

FICO 08 Scores (Oct-17): TU 810, EQ 813, EX 813

Regular Contributor

Re: THANK YOU ALL!!!! 2 Approvals (1 for me and 1 for dw)

Congrats! Also, for any lenders that can be inquiry sensitive it's due to "recent" inquiries. That can be anywhere from 6-12 months. You should be OK for Cap One as yours are older than that.Also, just because one lender is inq sensitive to Joe Blow doesn't mean they will be to you. It can vary by profile and card product. Good luck!

New Member

Re: THANK YOU ALL!!!! 2 Approvals (1 for me and 1 for dw)

That’s good to know, thank you. I was thinking I should wait and get the 50k bonus points on my wife’s new Venture then apply for mine in 3 months to do the rewards all over again. Any reason to apply for it now? I notice people talk about sprees but I haven’t really read too much on it yet.
Senior Contributor

Re: THANK YOU ALL!!!! 2 Approvals (1 for me and 1 for dw)

Congrats on your approval.

You are making to much of a big deal about inquiries.

They are far over rated. Many people get big approvals with 15, 20 and more. Some of my highest SL 's I had 20 plus inquiries on each file.

Forget about them.
AMEX BCP $9000- DCU Platinum $10000- PenFed Power $11000- Chase FU $11700- AMEX EDP $15000- NFCU CLOC $15000- Chase CSP $18900- Discover IT Miles $20000- Penfed Promise $25000- NFCU Go Rewards $27100- Venture $28750 **As of 11/16/17** EX- 762(13) TU- 760(12) EQ- 731(14) UTI 6%- Clean Files
New Member

Re: THANK YOU ALL!!!! 2 Approvals (1 for me and 1 for dw)

Thanks donny10. I guess I got used to having the yellow box on CreditKharma. I have noticed high inquiries on here and a ton of approvals.
Regular Contributor

Re: THANK YOU ALL!!!! 2 Approvals (1 for me and 1 for dw)


LinCan wrote:
That’s good to know, thank you. I was thinking I should wait and get the 50k bonus points on my wife’s new Venture then apply for mine in 3 months to do the rewards all over again. Any reason to apply for it now? I notice people talk about sprees but I haven’t really read too much on it yet.

Only if you care about lumping all your inquiries and account ages around the same time period. Also, don't do it if you can't meet the spending requirements of all the cards cards. Most sign up bonuses (SUBs) only give 3 months to meet that target. You might lose out on those bonuses if you can't meet that. Your plan to meet the first Venture bonus and then do it again on your profile in 3 months sounds solid.

My point was that you were giving your old inqs to much power. 

Regular Contributor

Re: THANK YOU ALL!!!! 2 Approvals (1 for me and 1 for dw)

I wouldn't necessarily say, "Don't worry about inquiries." Navy Federal has turned me down 4 times this year, and "number of inquiries" was one of the biggest reasons. So they definitely DO matter sometimes. (I had between 4 and 9 in the last year when they gave that as a reason). They also cited utilization and number of new accounts as well, so inquiries was only one factor, but my util on TU this most recent rejection was 9% and only a handful of accounts in the last 6 months, so I have to believe inquiries were fairly significant. 

06/2017 FICOs: TU: 542 EX: 538 EQ: 528
07/2017 FICOs: TU: 564 EX: 564 EQ: 559
08/2017 FICOs: TU: 598 EX: 597 EQ: 584
09/2017 FICOs: TU: 621 EX: 615 EQ: 608
09/2017 FICOs: TU: 633 EX: 620 EQ: 608
Super Contributor

Re: THANK YOU ALL!!!! 2 Approvals (1 for me and 1 for dw)

Amazing approvals. Enjoy ! Now you both get to call each other Darling lolSmiley Happy