10-13-2012 01:47 PM
Just wanted to share my results of my app spree that I went on this month.
AMEX BCE - Denied
Citibank ThankYou - Denied
BankAmericard Cash Reward - Approved 2K (after a phonecall from a rep)
Chase Freedom - Approved 3k
Discover More - Approved 1.2k
I was actually suprised that I got approved for anything having about 70% utilization and a fico of 668 (Equifax). Unfortunetaly the one I wanted the most was the BCE but unfortunately wasn't approved even though I have an AMEX Plat -___- but I'm laying low for at least 12 months before I apply for it again. 3/5 isn't so bad right? lol
10-13-2012 01:51 PM
Congrats! I think that Citibank is tightening up on credit so that isn't really a suprise. I am new to this App Spree. I worry about having too many inq. Would you give me a few pointers? Thanks.
10-13-2012 01:57 PM
Thanks! Yeah, I probably wouldn't recommend it but I wanted to open more accounts due to only having 3 open accounts and such a low credit limit across those cards. I think my score took like a 15 point hit.
10-13-2012 01:59 PM
10-13-2012 02:04 PM
10-13-2012 02:06 PM
Thanks for your reply. I am in the same situation. I only had 3 cards with a $6,000 limit total so I have been on an app spree.Since I do not put everyday purchases on my CC I really do not need a lot of credit but it hurts my utilization rate when I do put a major purchase on them. Occasionally, I will purchase something and put it on the card so that the company does not cancel my card due to a lack of use. My husband had 3 companies cancel his cards for non-use.Same thing happened to my inlaws. I have been applying because I want to have more credit availabitly. I am willing to take a short-term ding to get it. I hope to cancel some cards that require an annual fee at some point but I have to apply for new ones first.
10-13-2012 02:18 PM
Yea pretty much identical situations. I am no credit expert by far but I don't see the harm of applying for 3 or 4 cards with good rewards. I feel like the benefit of the higher credit limit out weighs the temporarly hit to your score. Just my opinion though. As far as those AFs... my Amex Plat is due this billing cycle. Looking at $625 due to the authorized users on the account. Thinking long and hard whether I should renew it.
10-13-2012 03:05 PM
Awesome app spree! Not bad results at all!
IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more
FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.