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Valued Contributor
SnackTrader
Posts: 1,566
Registered: ‎09-15-2012
0

Re: Advice for first app spree/portfolio


Royal_Flush wrote:

SnackTrader wrote:
While I know I shouldn't say this, I am going to anyway.

This is getting pretty annoying. You have gotten the same advice from close to a dozen veteran posters in your threads, and keep bringing up the same questions. I understand that you are afraid, but asking more of the same questions isn't going to help you. Your credit profile is fine. Your inquiries won't hurt anything. Feel free to apply whenever.

If these threads keep going until August when you claim you are going to apply I am going to scream.

Ok - I feel better now. It's hot in my office and I think I need to take a walk.

Why shouldn't you say how you feel? It's a forum on the internet., you can say whatever you want, especially when you're in an office. While I understand where you're coming from, my only other thread was related to getting one Amex BC, BCE, or BCP, not 4-5 cards at the same time. Although I thought about assuming that it'd be the same result for applying for one card vs 4-5 at the same time, I decided not to assume that after reading through other dozens of threads with veteran posters. I decide to create another thread regarding my plans and/or complete wants and needs, and only got 4 "veterans" to chime in. My goal was 5, you only had to wait for 1 more to speak until I was going to stop being annoying. Coincidentally, you're the 5th.


Alright, Royal. I'm home, and much less tightly wound. Let's try this again. 

 

I still stand by your report being fine for whatever you decide to do. Our credit profiles are actually rather similar, but my income is a little larger. Hopefully that doesn't affect you too much. 

 

I personally like sprees because I think it adds an advantage of not raising the "new account" flags that may or may not appear once a new tradelines reports to the bureaus. Also, I think inquiries when in the single digits, and when a credit report isn't otherwise "scary" aren't as dangerous as others on this forum believe. I am a full supporter of the Garden, because frivolous inquiries are harmful, but a well-planned app spree with 4 or 5 new applications shouldn't scare the 5th lender anymore than the first lender. We typically understand which bureaus creditors pull, so you should be able to effectively disperse the inquiries among bureaus. 

 

My last point, is make sure you aren't applying for too many cards that you won't be able to hit the spending bonuses. Generally, you have 3 months for the spending. But I only spend about $1,500 per month on credit cards, so that only allows me to apply for 3 or 4 cards at a time and still spend enough to hit the bonuses. 

 

I say pull the trigger whenever you are ready. And if you have other questions about which card to apply for first or which bureaus a lender pulls, you are more than welcome to post that here. This is an internet forum open to all (Except trolls). But as for questions about the legitimacy of your credit profile, I would say hold off since your profile is Very good. You have managed it well. 


In My Wallet: Amex BCP (12/12) $22.200, Cap1 Quicksilver (6/12) $14,000, Chase CSP (4/14) $12,000, Barclaycard Rewards (5/13) $10,500, Citi Forward (12/12) $9,600, Chase Freedom (12/12) $5,000

Last App: April 2, 2014
Valued Member
Royal_Flush
Posts: 35
Registered: ‎02-24-2013
0

Re: Advice for first app spree/portfolio


SnackTrader wrote:

Alright, Royal. I'm home, and much less tightly wound. Let's try this again. 

 

I still stand by your report being fine for whatever you decide to do. Our credit profiles are actually rather similar, but my income is a little larger. Hopefully that doesn't affect you too much. 

 

I personally like sprees because I think it adds an advantage of not raising the "new account" flags that may or may not appear once a new tradelines reports to the bureaus. Also, I think inquiries when in the single digits, and when a credit report isn't otherwise "scary" aren't as dangerous as others on this forum believe. I am a full supporter of the Garden, because frivolous inquiries are harmful, but a well-planned app spree with 4 or 5 new applications shouldn't scare the 5th lender anymore than the first lender. We typically understand which bureaus creditors pull, so you should be able to effectively disperse the inquiries among bureaus. 

 

My last point, is make sure you aren't applying for too many cards that you won't be able to hit the spending bonuses. Generally, you have 3 months for the spending. But I only spend about $1,500 per month on credit cards, so that only allows me to apply for 3 or 4 cards at a time and still spend enough to hit the bonuses. 

 

I say pull the trigger whenever you are ready. And if you have other questions about which card to apply for first or which bureaus a lender pulls, you are more than welcome to post that here. This is an internet forum open to all (Except trolls). But as for questions about the legitimacy of your credit profile, I would say hold off since your profile is Very good. You have managed it well. 


Thank you, really. Especially with mentioning hitting the spending bonuses. I got caught up in the app spree aspect and assumed I'd already hit the bonuses. I had to check real quick but I should be good to go in hitting all of them.

 

In regards to which cards to apply for first: (CU Visa Platinum CLI to $10k) Amex PRG, Amex BCP, Discover IT, CSP?

 

I figured the Amex PRG would be the easiest since it's a charge card, and then I could immediately apply for the BCP if I received instant approval and have only one HP. I thought the Discover IT would be harder to get than the CSP, and even if it wasn't, the CSP would be easier to get recon so it's best for last?

Valued Contributor
SnackTrader
Posts: 1,566
Registered: ‎09-15-2012
0

Re: Advice for first app spree/portfolio

Do you know if the CU CLI will be a hard pull?

 

I guess my suggestion is that one last, because it matters the least overall. Unless you want other lenders to see a 10k balance, in which case you should do that first - but then wait at least a month to apply so that the CLI is reflected on your credit reports. 

 

Have you done research into which reports Discover and Chase pull in your state? I doubt that you would have all 4 inquiries on the same bureau, but then again my app spree ended with ALL lenders pulling EX for me...


In My Wallet: Amex BCP (12/12) $22.200, Cap1 Quicksilver (6/12) $14,000, Chase CSP (4/14) $12,000, Barclaycard Rewards (5/13) $10,500, Citi Forward (12/12) $9,600, Chase Freedom (12/12) $5,000

Last App: April 2, 2014
Valued Member
Royal_Flush
Posts: 35
Registered: ‎02-24-2013
0

Re: Advice for first app spree/portfolio


SnackTrader wrote:

Do you know if the CU CLI will be a hard pull?

 

I guess my suggestion is that one last, because it matters the least overall. Unless you want other lenders to see a 10k balance, in which case you should do that first - but then wait at least a month to apply so that the CLI is reflected on your credit reports. 

 

Have you done research into which reports Discover and Chase pull in your state? I doubt that you would have all 4 inquiries on the same bureau, but then again my app spree ended with ALL lenders pulling EX for me...


I think it would be a hard pull through TU per the hard pull for the CLI to $5k, but that was in 11'. I can always confirm in person though. I was thinking to get the CLI to $10k for the higher limits on the other cards if approved. I did some searching on who would do pulls in my state, but it varies from all three or any two.

 

Valued Member
Royal_Flush
Posts: 35
Registered: ‎02-24-2013
0

Re: Advice for first app spree/portfolio


SnackTrader wrote:

Do you know if the CU CLI will be a hard pull?

 

I guess my suggestion is that one last, because it matters the least overall. Unless you want other lenders to see a 10k balance, in which case you should do that first - but then wait at least a month to apply so that the CLI is reflected on your credit reports. 

 

Have you done research into which reports Discover and Chase pull in your state? I doubt that you would have all 4 inquiries on the same bureau, but then again my app spree ended with ALL lenders pulling EX for me...


In regards to the CLI; will the issuers/banks view it as me "actively looking for credit" or simply acknowledge it as a positive CLI and nothing else?

New Contributor
gpfirestone
Posts: 93
Registered: ‎02-20-2013
0

Re: Advice for first app spree/portfolio

Why do people want a gold card from Amex?  I can understand platinum with the $200 travel credit, free airport lounges, and free global entry as well as the upgrades but what does gold get you for the fee?

:Capital One Spark Business $45k:::Chase Sapphire Preferred $18k:::Chase Amazon Visa $3k:::American Express BC $6k:::Chase Ink Plus $15k:::American Express Business Plum:::American Express Business Platinum::Citi Diamond Preferred $14k:::REI Visa $6k::Capital One Quicksilver $15k:

FIA/BOA is the plague. AVOID THEM!
Valued Member
Royal_Flush
Posts: 35
Registered: ‎02-24-2013
0

Re: Advice for first app spree/portfolio


gpfirestone wrote:

Why do people want a gold card from Amex?  I can understand platinum with the $200 travel credit, free airport lounges, and free global entry as well as the upgrades but what does gold get you for the fee?


I have a thin file, so I didn't want to apply for a Platinum right away? I might have ta chance with my history and credentials, but I don't have the income or spending habbits for a first time approval.

New Contributor
RhubarbPie
Posts: 105
Registered: ‎01-31-2013
0

Re: Advice for first app spree/portfolio

I would apply for at least CSP and Amex PRG, as the sign up bonuses on both of those cards are good right now (if you want travel rewards). I would also app for Freedom at the same time to supplement CSP where it falls short. For the PRG, you'd want to go to creditcards.com (the credit card finder thing) as that's where the app for 50,000 MR points (after 1K spend) and no AF the first year would be.


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