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Established Contributor
Posts: 709
Registered: ‎04-20-2008
0

Re: Best Method to USE to Go on an App Spree

I would garden what you have, perhaps seek CLI's if you need more credit.  I would never need as much credit as you have, I can only assume you have a large income.
"WTB Access Number"
Established Contributor
Posts: 1,021
Registered: ‎05-14-2008
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Re: Best Method to USE to Go on an App Spree

This is nonsense.  Other than driving your score to 800 what's the point??  Get the credit you need and manage it.  It seems you are looking at this like some sort of game.  It isn't.  No wonder people are in so much trouble with credit, they don't understand what it can do for them, both positive and negative. 
Moderator Emeritus
Posts: 16,381
Registered: ‎03-12-2007
0

Re: Best Method to USE to Go on an App Spree

[ Edited ]


Watchmann wrote:
This is nonsense.  Other than driving your score to 800 what's the point??  Get the credit you need and manage it.  It seems you are looking at this like some sort of game.  It isn't.  No wonder people are in so much trouble with credit, they don't understand what it can do for them, both positive and negative. 


What nonsense are you speaking of?


Message Edited by fused on 05-20-2008 04:08 PM
Credit Profile:
FICO 9: EQ 835 ~ EX 832 ~ TU 829 (05-13-2017)
FICO 8: EQ 821 ~ EX 810 ~ TU 819 (05-13-2017)
FICO 8 Bankcard: EQ 844 ~ EX 840 ~ TU 845 (05-13-2017)
Credit History: 29 years ~ AAoA: 14 years
Total available revolving credit: 157K ~ Cumulative Util: 1%
Inqs: 1 EX (new)
13 Total Accounts on Reports: 8 open, 5 closed. No open installment accounts (soon to change)
Moderator Emeritus
Posts: 16,381
Registered: ‎03-12-2007
0

Re: Best Method to USE to Go on an App Spree



sealdog wrote:
I have 8 CC BOA 3500CL, Hooters 750, Penfed 5000, DISCOVER 1000, Cap1 500, Amex 8700, CCCU 6500, KEYBANK 25000, ALL IN THE LAST 8 MONTHS. I WANT TO GET MORE CCS BUT I DONT WANT IT TO EFFECT ON MY SCORES NEGATIVELY. WHAT IS THE BEST WAY TO GET THEM. I HAVE BEEN APPLYING ONE EVERY MONTH. IF I APPLY FOR ONE AT A TIME IT SEEMS TO STAY STABLE. I AM A LITTLE ANXIOUS ABOUT APPLYING FOR MORE AND GET MORE INQUIRES.


Message Edited by sealdog on 05-20-2008 12:19 AM

Message Edited by sealdog on 05-20-2008 05:56 AM

Eight cards is more than enough to build a rock solid CC history. I believe in keeping it simple. Foucs on increasing your CLs instead of app sprees.
Credit Profile:
FICO 9: EQ 835 ~ EX 832 ~ TU 829 (05-13-2017)
FICO 8: EQ 821 ~ EX 810 ~ TU 819 (05-13-2017)
FICO 8 Bankcard: EQ 844 ~ EX 840 ~ TU 845 (05-13-2017)
Credit History: 29 years ~ AAoA: 14 years
Total available revolving credit: 157K ~ Cumulative Util: 1%
Inqs: 1 EX (new)
13 Total Accounts on Reports: 8 open, 5 closed. No open installment accounts (soon to change)
Moderator Emeritus
Posts: 9,252
Registered: ‎03-19-2007
0

Re: Best Method to USE to Go on an App Spree

I agree with MANY here-
 
Each credit move SHOULD be a calculated and precise actions to reach your next credit goal-  
 
I HAVE apped plenty- however everything except Junny was very calculated-
Established Member
Posts: 24
Registered: ‎02-24-2008
0

Re: Best Method to USE to Go on an App Spree

I am a real estate investor and I need to access as much credit  as possible to purchase and flip. I PIF on each card except one. I have a utlity of 3-5% on my Penfed card. I manage my credit accurately. For each CC I have I have a saving investment vehlice with the same amount in it so I can PIF at anytime. I can go to the bank but it takes much to much time to get an answer even when you have been there for years. I have 1 cc with a 24 year history and I have loads of accounts that I have paid in full within 24 months. so i am not sure avg age will be an issue unless its the avg age of the cc. I have 25 closed mortgages on my CRS.I said all that to say the main reason is that I need the credit to make the money.
6/01/08 TU 755 EQ780Ex 757
I am heading to the 800 club landing strip on all 3 cylinders. You guys are the wind beneath my wings!!!!!
Established Member
Posts: 24
Registered: ‎02-24-2008
0

Re: Best Method to USE to Go on an App Spree

Watchman, I am not sure about nonsense. I have a plan and in the plan I need to have access to large amounts of credit to close on deals that i do. I PIF each month. Each time I have opened an account I have opened an investment vehicle so that if I couldnt PIF for whatever rease. I would have the account make the payment. It is not a game to me. Its what i use to do my business and make the money to pay my bills. I have never had a bk, judgement, collection, not even a medical collection, nor have I experienced a situation when I need credit the way i need it now. I am flipping approximately 10 properties a month where I was only doing 1-2 a month. That is the only reason I am asking.
6/01/08 TU 755 EQ780Ex 757
I am heading to the 800 club landing strip on all 3 cylinders. You guys are the wind beneath my wings!!!!!
Established Member
Posts: 24
Registered: ‎02-24-2008
0

Re: Best Method to USE to Go on an App Spree

Thanksi will try that since the consensous consensus seems to be i  shouldn't
6/01/08 TU 755 EQ780Ex 757
I am heading to the 800 club landing strip on all 3 cylinders. You guys are the wind beneath my wings!!!!!
Valued Member
Posts: 48
Registered: ‎10-28-2007
0

Re: Best Method to USE to Go on an App Spree

I think it is great that you have a plan. 
 
I would think it is best not to use personal credit for business endeavors (if this is what you are doing).
 
It does appear that it is some sort of game to make it to 800, as indicated in your signature.
 
I think Fico scores should be a means to an end and not the end in and of itself.
Established Member
Posts: 47
Registered: ‎05-13-2008
0

Re: Best Method to USE to Go on an App Spree

So my little Application spree just hurt me for 2 years? Oh well, guess we all live and learn. Ill keep low Balances on them, and hope after 2 years I can salvage my FICO. I have no major purchase in the foreseeable future. Got my house last year, and bought a car last year. So maybe, after a few years ill be where I need to be.

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