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Registered: ‎08-16-2011
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App spree

[ Edited ]

So I went on a little app spree after closing (and funding!) on my house.   I have a Discover More and Citi Simplicity pending.  I got denied Old Navy and Overstock.com.  I was approved Barclay's Apple $2000 CL, Amazon $700 CL, Walmart $500 CL, Lowe's $300 CL.  I was also approved for a Best Buy Gold Reward Zone Mastercard.  It didn't tell me my limit and it has an annual fee.  I decided I do not want the Best Buy card and I am not going to activate it, I'm going to cancel it.  I am hoping Lowe's will give me a CLI because I'd like to have it available for new laundry appliances down the road.

 

Now I need advice on how to manage these.  I don't plan to use them for much.  I was thinking I'd use one 1 month and pay it off.  Then use a different one the next month and pay it off and go on doing that.  Is that a good plan? I just want to keep raising my score but I don't want to get into debt.   If I get approved for the Chase and Citi should I cancel my Cap One ($500 CL) that I've had for 8 years or keep that open but BT?  Thanks!

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Re: App spree

did you mean discover more or a different chase card?

Kohls non-visa $1,000 (lol) * Gap Visa $1,000 * Barclay NFL Visa Sig $2,800 * Walmart Discover $4,200 * Chase BP 5%/2%/1% VIsa $4,500 * American Express Preferred Blue 6%/3%/1% $5,700 * CapOne 2% Everyday Rewards MC $10,000 * Discover More 5% $10,000 * Chase AARP 5%/3% Visa $10,000 * Citi Dividend 5% MC $10,400 * Wells Fargo 1% $15,000 * Citi Forward 5% Visa $15,000 * Chase Freedom 5% Visa $18,700 * Chase Amazon 3%/2%/1% Visa Sig $19,100 (NPSL) * FIA 529 2% Amex $25,000 * PNC Everyday Rewards 4%/3%/2%/1% Visa $25,000 * PenFed 5%/1% Plat Visa $31,000 *
Walmart TU FICO--769 (10/17/11) Chase CLI EQ FICO--766 (10/25/11) Credit Sesame EX FAKO--805 (10/6/11)
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Posts: 614
Registered: ‎10-23-2011
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Re: App spree


mamahearts wrote:

So I went on a little app spree after closing (and funding!) on my house.   I have a Chase More and Citi Simplicity pending.  I got denied Old Navy and Overstock.com.  I was approved Barclay's Apple $2000 CL, Amazon $700 CL, Walmart $500 CL, Lowe's $300 CL.  I was also approved for a Best Buy Gold Reward Zone Mastercard.  It didn't tell me my limit and it has an annual fee.  I decided I do not want the Best Buy card and I am not going to activate it, I'm going to cancel it.  I am hoping Lowe's will give me a CLI because I'd like to have it available for new laundry appliances down the road.

 

Now I need advice on how to manage these.  I don't plan to use them for much.  I was thinking I'd use one 1 month and pay it off.  Then use a different one the next month and pay it off and go on doing that.  Is that a good plan? I just want to keep raising my score but I don't want to get into debt.   If I get approved for the Chase and Citi should I cancel my Cap One ($500 CL) that I've had for 8 years or keep that open but BT?  Thanks!


First off Congratulations on the Home Purchase...wise choice! 

 

Now onto the CC matters....first DO NOT close the Capital One card...you will only hurt your score by less credit avaialble and losing your longest card history over time. Just remember don't close any cards you have had a for a long time unless you truly need to so that you don't have to pay annual fee.

 

You mention that you would like to get a new laundry set in the near future. I would call GEMB to ask for a higher limit before you get the card and tell them that you want to purchase a new laundry set and want to take advantage of the 6 months 0% APR financing promotion. There's a good chance they will approve you upto $1,500 Just tell them the laundry set you are looking to purchase is $1,300 plus tax and delivery 


Starting Score: EQ 686 10/18/11, TU 689 10/25/11, EX 685 10/11 (Amex Pull)....these are all FICO scores
Current Score: EQ 702 10/24/11, TU 689, EX 685
Goal Score: 750+

Score Update: EQ: 743 (02/03/12) TU: 741 (Walmart 01/11/12), now 761 as of 01/27/12 (Walmart), EX: 741 (Amex 01/04/12)
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Posts: 251
Registered: ‎08-16-2011
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Re: App spree


fusioncredit wrote:

mamahearts wrote:

So I went on a little app spree after closing (and funding!) on my house.   I have a Chase More and Citi Simplicity pending.  I got denied Old Navy and Overstock.com.  I was approved Barclay's Apple $2000 CL, Amazon $700 CL, Walmart $500 CL, Lowe's $300 CL.  I was also approved for a Best Buy Gold Reward Zone Mastercard.  It didn't tell me my limit and it has an annual fee.  I decided I do not want the Best Buy card and I am not going to activate it, I'm going to cancel it.  I am hoping Lowe's will give me a CLI because I'd like to have it available for new laundry appliances down the road.

 

Now I need advice on how to manage these.  I don't plan to use them for much.  I was thinking I'd use one 1 month and pay it off.  Then use a different one the next month and pay it off and go on doing that.  Is that a good plan? I just want to keep raising my score but I don't want to get into debt.   If I get approved for the Chase and Citi should I cancel my Cap One ($500 CL) that I've had for 8 years or keep that open but BT?  Thanks!


First off Congratulations on the Home Purchase...wise choice! 

 

Now onto the CC matters....first DO NOT close the Capital One card...you will only hurt your score by less credit avaialble and losing your longest card history over time. Just remember don't close any cards you have had a for a long time unless you truly need to so that you don't have to pay annual fee.

 

You mention that you would like to get a new laundry set in the near future. I would call GEMB to ask for a higher limit before you get the card and tell them that you want to purchase a new laundry set and want to take advantage of the 6 months 0% APR financing promotion. There's a good chance they will approve you upto $1,500 Just tell them the laundry set you are looking to purchase is $1,300 plus tax and delivery 



Oops I meant Discover More not Chase.  Had Chase on the brain but did not apply for Chase. 

Thanks! We're excited about our new home and want to build a good credit record but not go nuts and get ourselves in trouble.  Thanks for the advice, I will keep my Cap One.  Maybe they'll raise my CL, it's been at $500 for 5 years.  No annual fees with any of the cards (except that Best Buy that I'm not keeping).   Thanks for suggesting the CLI on Lowe's.  It helps to know how to leverage that laundry set.  :smileyhappy: Thank you!

myFICO starting TU 683 8/26/11
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Re: App spree

You are welcome and I hope you get $1,500 or more. Once you get it call back in a few hours and tell them you just got back from lowes and want to buy a new refrigerator that's $1,500...they may add another $1,500 to your limit giving you a total of $3k :smileywink:


Starting Score: EQ 686 10/18/11, TU 689 10/25/11, EX 685 10/11 (Amex Pull)....these are all FICO scores
Current Score: EQ 702 10/24/11, TU 689, EX 685
Goal Score: 750+

Score Update: EQ: 743 (02/03/12) TU: 741 (Walmart 01/11/12), now 761 as of 01/27/12 (Walmart), EX: 741 (Amex 01/04/12)
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Re: App spree


fusioncredit wrote:

You are welcome and I hope you get $1,500 or more. Once you get it call back in a few hours and tell them you just got back from lowes and want to buy a new refrigerator that's $1,500...they may add another $1,500 to your limit giving you a total of $3k :smileywink:



Eh they only gave me $600 total! LOL Ok I think I'm done apping for a while.  Thanks again! :smileyhappy:

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Re: App spree


mamahearts wrote:

fusioncredit wrote:

You are welcome and I hope you get $1,500 or more. Once you get it call back in a few hours and tell them you just got back from lowes and want to buy a new refrigerator that's $1,500...they may add another $1,500 to your limit giving you a total of $3k :smileywink:



Eh they only gave me $600 total! LOL Ok I think I'm done apping for a while.  Thanks again! :smileyhappy:


It's a start :smileywink: Just wait in 90 days press the CLI button and see what you get then and try again in 90 days for another CLI. Enjoy gardening now 


Starting Score: EQ 686 10/18/11, TU 689 10/25/11, EX 685 10/11 (Amex Pull)....these are all FICO scores
Current Score: EQ 702 10/24/11, TU 689, EX 685
Goal Score: 750+

Score Update: EQ: 743 (02/03/12) TU: 741 (Walmart 01/11/12), now 761 as of 01/27/12 (Walmart), EX: 741 (Amex 01/04/12)
Take the FICO Fitness Challenge

Frequent Contributor
Posts: 251
Registered: ‎08-16-2011
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Re: App spree


fusioncredit wrote:

mamahearts wrote:

fusioncredit wrote:

You are welcome and I hope you get $1,500 or more. Once you get it call back in a few hours and tell them you just got back from lowes and want to buy a new refrigerator that's $1,500...they may add another $1,500 to your limit giving you a total of $3k :smileywink:



Eh they only gave me $600 total! LOL Ok I think I'm done apping for a while.  Thanks again! :smileyhappy:


It's a start :smileywink: Just wait in 90 days press the CLI button and see what you get then and try again in 90 days for another CLI. Enjoy gardening now 



That's pretty sweet! :smileyhappy:  I just got approved for Discover More! $1700 CL 1% cash back on everything! 5% cashback specials throughout the year in certain categories. I'm so excited! I've never had a rewards card before.   It's so funny, I was still thinking of Chase and called their backdoor # for a status update on my app! So then I called Discover and talked to a really nice guy who transferred me to a credit analyst.  She was really nice.  She asked if the $1700 was sufficient and for me it is!  I'm going to use this as my primary card for groceries, gas, phone bill.  All that stuff.  Seriously 1% cashback is awesome, especially on stuff I HAVE to buy anyway.  Thanks guys I really appreciate your info!

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Re: App spree

[ Edited ]

unless your terms are different i'm pretty sure its not 1% until you spend like 3k or 5k.  if you're getting 5% on the rotating seasonal categories discover is terrible (and even then they have such low caps its not worth it).  there's much better stuff out there.

 

make sure you do your due diligence on rewards before you start charging.

Kohls non-visa $1,000 (lol) * Gap Visa $1,000 * Barclay NFL Visa Sig $2,800 * Walmart Discover $4,200 * Chase BP 5%/2%/1% VIsa $4,500 * American Express Preferred Blue 6%/3%/1% $5,700 * CapOne 2% Everyday Rewards MC $10,000 * Discover More 5% $10,000 * Chase AARP 5%/3% Visa $10,000 * Citi Dividend 5% MC $10,400 * Wells Fargo 1% $15,000 * Citi Forward 5% Visa $15,000 * Chase Freedom 5% Visa $18,700 * Chase Amazon 3%/2%/1% Visa Sig $19,100 (NPSL) * FIA 529 2% Amex $25,000 * PNC Everyday Rewards 4%/3%/2%/1% Visa $25,000 * PenFed 5%/1% Plat Visa $31,000 *
Walmart TU FICO--769 (10/17/11) Chase CLI EQ FICO--766 (10/25/11) Credit Sesame EX FAKO--805 (10/6/11)
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Posts: 251
Registered: ‎08-16-2011
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Re: App spree

[ Edited ]

CulpeperMike wrote:

unless your terms are different i'm pretty sure its not 1% until you spend like 3k or 5k.  if you're getting 5% on the rotating seasonal categories discover is terrible (and even then they have such low caps its not worth it).  there's much better stuff out there.

 

make sure you do your due diligence on rewards before you start charging.


 I read their terms and conditions while I was waiting for my application status.  I don't think I'll have any problems with meeting the $3k limit though.  I'm using it for everyday purchases and auto bill pay as well as other purchases.  The 1% cashback does not apply to the 5% seasonal categories.  Thanks for your feedback!

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