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AOR 1.0 -ATTEMPT AT AGE 18

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Anonymous
Not applicable

AOR 1.0 -ATTEMPT AT AGE 18

I previously discussed this topic with much negative response.

PRE-AOR

BOA STUDENT PLUS-CL5000-10MO
CITI AMEX                   -CL3500- 9MO
CHASE PLATINUM     -CL6500- 7MO
DISCOVER  <AU>       -CL13000-9YR 10MO
CAP1 AUTO LOAN     -11K/15K-9MO


GOAL-
1.GAIN AS MUCH AVAILABLE CREDIT
2.GAIN REWARDS
3.APPLY TOGETHER SO THEY AGE TOGETHER

EX-730 EQ-749 TU-742

AVERAGE AGE:2YR 10MO

INQ:EX-10 EQ-2 TU-3

AOR- APPLIED ON SAME DAY.

 

CHASE FREEDOM -CL2500-APPROVED-EX
AMEX Delta GOLD -CL2000-APPROVED-EX
CITI PLATINUM -CL3000-APPROVED-EX
JUNIPER Best Western-CL2000-APPROVED-TU
DISCOVER MOTIVA -CL2000-APPROVED-TU
US BANK VISA -CL -DEFFERED-TU
HSBC CashBack FLY -CL0 -DECLINED-EQ
WAMU ESPN -CL3000-APPROVED-EQ
HSBC GM -CL2500-APPROVED-TU
WELLS FARGO VISA -CL3000-APPROVED-EX
HOOTERS HSBC -CL -DEFFERED-TU
ADVANTA BUSINESS -CL -DEFFERED-EQ
PENFED VISA PLATI. -CL5000-APPROVED-EQ ALSO APPROVED 35K AUTO LOAN
PENFED GOLD -CL10000-APPROVED-EQ
NFCU VISA -CL20000-APPROVED-EQ
NFCU LOC -CL15000-APPROVED-EQ


PRE-AOR CL-15,000
AOR CL-85,000 (STILL WAITING ON SOME ANSWERS)

NOTES:
THIS AOR WAS SUCCESSFUL ON OBTAINING INSTANT APPROVAL
NOT HIGH CL BUT HIGH APPROVAL.

NOW I WON'T APPLY FOR 1-2YRS FOR ANY CREDIT.
I WILL WAIT ON CLI.

THNX FOR THE ADVICE.

 

Edit by cheddar:  Changed several links to external credit repair website to plain text.



Message Edited by cheddar on 07-16-2008 12:21 PM
Message 1 of 16
15 REPLIES 15
thrasher865
Valued Contributor

Re: AOR 1.0 -ATTEMPT AT AGE 18

What are you doing with this money, now?  Are these all 0% intro offers?  If not, what was the point of this AOR?

Starting Score: EQ: 665 - TU: 687
Current Score: EQ: 749 - TU: ---
Goal Score: EQ: 760 - TU: 760


Take the FICO Fitness Challenge
Message 2 of 16
Anonymous
Not applicable

Re: AOR 1.0 -ATTEMPT AT AGE 18

18 years old? Do you really need that much available credit? What is your HHI? Be careful with all that credit and maintain a good history. Good Job though Smiley Happy
Message 3 of 16
FretlessMayhem
Senior Contributor

Re: AOR 1.0 -ATTEMPT AT AGE 18

Congrats on your app spree! You got some pretty prime cards. Just don't do what I did in college and assume it's free money.

Not that I think you would. It's just a common college mentality.
Here we go again...
Message 4 of 16
Watchmann
Valued Contributor

Re: AOR 1.0 -ATTEMPT AT AGE 18

Ok, but what was the point of the AOR??  You said to get as much CL as possible, but what is that going to do for you other than showing a low UTIL %, assuming you aren't using more than a fraction of it?  Unless you can service that kind of debt I don't see the point of it, especially at age 18.  CL does not equal income, i.e., it is not there for you to spend freely.  Are you sock drawering all these CC's?
 
It would be interesting to see where you stand in a years time.  Keep us posted.
Message 5 of 16
Anonymous
Not applicable

Re: AOR 1.0 -ATTEMPT AT AGE 18

I, as well, want to know where you stand in a few years Smiley Happy
Message 6 of 16
Anonymous
Not applicable

Re: AOR 1.0 -ATTEMPT AT AGE 18

About 90% of these have 0% intro. Also gained about $550 in rewards. The reason for the AOR was to build credit history all at once and then sit on them and let them age. That way by the time im 20-21. I should have 300k+ in available credit. Then I will make money off 0%. Might put 25-30k in savings if I can still find the offer that give 6.01% up to 50k. income is 65k. can only prove maybe 10-15k lol. HHI is 280k. But mostly just for the perk of being 18 and having 14+ cards with 85K+ available. Also knowing that they are all Prime cards. I am very responsible with credit i had 15k of available last 10months. The most I had used was 600 for school. I will put small purchases on ones I dont do BT on. Just to keep them alive and open for CLI
Message 7 of 16
Anonymous
Not applicable

Re: AOR 1.0 -ATTEMPT AT AGE 18

I'm not sure you'll have 300K in 3 years. Some creditors will turn you down for cli's if your income/available credit doesn't match and your available credit is too high EVEN if you pay on time and in full. I was just recently denied for a cli from BOA for that. Just be really careful. Things can happen and I don't want to see you ruin your credit.. Good Luck...
Message 8 of 16
thrasher865
Valued Contributor

Re: AOR 1.0 -ATTEMPT AT AGE 18



zachst wrote:
About 90% of these have 0% intro. Also gained about $550 in rewards. The reason for the AOR was to build credit history all at once and then sit on them and let them age. That way by the time im 20-21. I should have 300k+ in available credit. Then I will make money off 0%. Might put 25-30k in savings if I can still find the offer that give 6.01% up to 50k. income is 65k. can only prove maybe 10-15k lol. HHI is 280k. But mostly just for the perk of being 18 and having 14+ cards with 85K+ available. Also knowing that they are all Prime cards. I am very responsible with credit i had 15k of available last 10months. The most I had used was 600 for school. I will put small purchases on ones I dont do BT on. Just to keep them alive and open for CLI

Don't count on that 300k available credit...
 
Congrats on the $550 in rewards, I'd like to see a breakdown of that to see how you managed that.  You should put those 0% offers to work now.  If you ever plan to use an AOR in your favor, you can't be afraid of AA, because it's coming.  If you're just gonna sit on these cards, and use it to build credit, there are better ways of doing that without such a risk of AA.

Starting Score: EQ: 665 - TU: 687
Current Score: EQ: 749 - TU: ---
Goal Score: EQ: 760 - TU: 760


Take the FICO Fitness Challenge
Message 9 of 16
Anonymous
Not applicable

Re: AOR 1.0 -ATTEMPT AT AGE 18

zachst,
 
I have edited your post to remove several links to an external credit repair website.  In the future, please refrain from posting links to external websites that promote credit repair.
 
Thanks for your cooperation.
 
Message 10 of 16
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