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Valued Contributor
Duncanrr
Posts: 2,857
Registered: ‎06-08-2012
0

App itch is killing me-scratching spreads it :(

On Monday I finally gave into app itch as it was 6 months since Amex denial and SBA will pull EX anyways. Well like any damn rash, scratching the app itch and giving in only makes it itch that much more. In past I was always denied. After going 4 for 4 and enjoying the soothing feeling of a successful app, I find it harder than ever to not app again. Previously, I was always denied and I resigned myself to not being credit worthy and would stop after 1 failed app. Now with the approvals I no longer have this form of negative reinforcement and want to app again. The only thing holding me back is I don't want to go lower than 10 years in AAoA.


Starting Score: EQ 551 TU 548 CK 607on 6/8/12, EX 542(AMEX pull 3/4/12)
Current Score: EQ 710 TU 727 EX 704 CK 719(FAKO-EX 697, EQ 697, TU 697)
Goal Score: 750

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Senior Contributor
Wolf3
Posts: 3,197
Registered: ‎01-24-2010
0

Re: App itch is killing me-scratching spreads it :(

4 for 4!.  You don't want to stop a winning streak!    LOL.

Established Contributor
calihlove75
Posts: 791
Registered: ‎05-16-2012
0

Re: App itch is killing me-scratching spreads it :(

Eventually those approvals turn to denials. At least if you stop now you know you went 4 for 4 :smileywink:

100% Ficos: EX 762, TU 767, EQ 762 Inquiries last 1 year/6 months: EX-0/0, TU- 0/0, EQ-1/0~ last credit card app 6/24/13- New car loan 3/8/2014
Discover IT $9500~Kohls $1000~Amex BCE $2000~ Walmart Discover $7500~NFCU Signature CashRewards $16,100~ Chase Freedom MC $6000~ Chase Amazon Visa $1900~ Cap 1/HSBC MC $2500~ Amazon Store $7000~ Fingerhut $1050
Senior Contributor
Wolf3
Posts: 3,197
Registered: ‎01-24-2010
0

Re: App itch is killing me-scratching spreads it :(

No guts, no glory!    5 for 5?

 

Valued Contributor
Duncanrr
Posts: 2,857
Registered: ‎06-08-2012
0

Re: App itch is killing me-scratching spreads it :(

I just posted this on Rebuilding thread.  My Walmart account just reported to EQ.  Guess what...my score actually went up 2 pts even with hit to AAoA (Amex not reporting yet to balance out) and the new account ding (may be still having some of that from my earlier new accounts, Cap1 and WF cards were opened in June).  Damn this doesnt help the app itch.  If I get approved and my scores also go up....ITCHY SCRATCH SCRATCH

 

Anyone know a good card that only, and I stress only, pulls EX? (Current Cards: Cap1 Secured, WF Secured, Amex ZYNC NPSL, Amex Delta Gold 2k CL, Walmart Discover 1.8k and Chase Amazon Visa 2k.  EX is between 680 and 690.



Starting Score: EQ 551 TU 548 CK 607on 6/8/12, EX 542(AMEX pull 3/4/12)
Current Score: EQ 710 TU 727 EX 704 CK 719(FAKO-EX 697, EQ 697, TU 697)
Goal Score: 750

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Frequent Contributor
LTomBerry
Posts: 398
Registered: ‎08-02-2011
0

Re: App itch is killing me-scratching spreads it :(

Wait until you're above 700. If you don't, you might get approved but with lousy limits.

Does the itch get worse when you read this board? You might need to step away for a while if it's part of the problem.


Starting Score: 690
Current Score: EQ 780 EX 814 TU 783
Goal Score: 800

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Senior Contributor
bichonmom
Posts: 3,318
Registered: ‎05-05-2011
0

Re: App itch is killing me-scratching spreads it :(

I remember how good it felt to finally get approvals after so many years of not being able to get credit. One thing that stopped me was listening to the advice of people who had been on the forum longer than me. I didn't want a bunch of low-limit CCs. I wanted some really good, high CL cards. So, I waited. And it paid off big time.

 

So far, you're not seeing a drop in your FICO from your new CCs, but who knows if the next one will be the one that causes a nosedive. Seriously, I keep that in mind every time I app. I dropped 14 pts earlier this year when I upgraded from ON store card to Visa and really wished that I hadn't done it.

 

Another thing to keep in mind is the time and energy it takes to manage all of the CCs. Frankly, it's more work than I had anticipated. You pretty much need to make purchases on all of them so they don't get CLD or closed for inactivity (even if it's a monthly recurring bill). And then you have to remember all of the due dates and/or stmt dates. I'm constantly paranoid that I'm going to forget a date. At this point, I feel like I have enough CCs, or possibly even too many. And yet, I still feel the urge to app when I see the approvals others are getting here.

 

There have been times when I've been away from the forum for a few months -- partially because the urge to app is much greater when I'm on here and read about so and so getting such and such card, great CLIs, rewards, etc. It's intoxicating like a drug. I recently started posting again and frankly found the urge to app come back almost immediately. I hadn't had any urge (well, practically none) when I wasn't on here. As another poster suggested, you might want to take a break from the forum.

 

I think you're really better off letting your new CCs age for at least 6 mos before considering any new CCs. If you keep apping, at some point, you're either going to get denied or just start getting really low CLs, and your FICO will drop eventually. Then you'll be kicking yourself for not stopping sooner.

 

~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*
EQ FICO 750 | TU FICO 761 (Walmart) | EX FAKO 767 | Goal: 800+

Edits, funky spacing and spelling due to my iPad not getting along with the forum editor!

Valued Contributor
Duncanrr
Posts: 2,857
Registered: ‎06-08-2012
0

Re: App itch is killing me-scratching spreads it :(

Y'all are right. Ill contain my app demon. The catch-22 is the only way you know if you have apped too much is when they report. Of course, by that time if your report can take another app hit it's too Kate as the time to app was a month ago with the other ones.

It was a good run. Back to the garden I go. The only product I may app for between now and my refi is a NFCU checking to get foot in door.


Starting Score: EQ 551 TU 548 CK 607on 6/8/12, EX 542(AMEX pull 3/4/12)
Current Score: EQ 710 TU 727 EX 704 CK 719(FAKO-EX 697, EQ 697, TU 697)
Goal Score: 750

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Valued Contributor
jamesdwi
Posts: 1,965
Registered: ‎09-16-2011
0

Re: App itch is killing me-scratching spreads it :(


LTomBerry wrote:

Wait until you're above 700. If you don't, you might get approved but with lousy limits.

Does the itch get worse when you read this board? You might need to step away for a while if it's part of the problem.


+100

 

I hate to get approved for low limit cards, I wish target redcard would of denied me instead of giving me a $200 CL that never grows. 

 

 


Cards: Chase Southwest 20k & CSP 10k & Freedom 6.6k & Amtrak 4.6k, FNBO DISC 14.9k Oregon Duck 5k, & AMEX BCP 15k & Hilton Surpass 7.5k & Delta Gold 6k & Zync NPSL, Sally Mae5k Sams Club MC 10k, Paypal Extras MC 6k, CapOne QS 2.5k, QS 750, Amazon 3.9k, Walmart 4.5k, Citi Simplicity 7k, HHonors Gold 1k (moved 5k CL to Simplicity), Discover IT 6.5k and a nice stack of store cards.
Last APP 12/15/2014
Established Contributor
djrez4
Posts: 504
Registered: ‎08-28-2012
0

Re: App itch is killing me-scratching spreads it :(


LTomBerry wrote:

Does the itch get worse when you read this board? You might need to step away for a while if it's part of the problem.


This is, sadly, some of the best advice I've read here.


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