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We are all app addicts, whether recovering from our addiction or not. We hang out on a FICO forum, for God's sake! After reading hundreds of threads on approvals and denials (usually due to to many inq's) the only thing I find distressing - and the SURE sign of an addict - is that people continue to damage their credit reports and histories regardless of the consequences of their actions.
Looks like the dungeon is getting negative press on some other threads **cough** garden club **cough** saying were making people app.....
C'MON MAN!!!!!!!
Our mere exsistance is due to the fact that said gardeners are getting sunburnt and restless in the garden!!!
@Anonymous wrote:I don't think its so bad. I've read on here that after you get 12+ inquiries, more than that are practically irrelevant. As in 12 INQ is just as bad as 50 INQ.
My new personal tactic, since my credit history is fairly short. Is to get as many no annual fee cards as I possibly can. Inquiries be damned. If I can get 30 credit cards, I will get 30 credit cards. They will all report on my credit report for the next 10 years even if they close and my AAoA will be invincible.
Except that with 30 new TLs no serious lender will touch you with a pole. You'll end up with 200 Cap 1 and Orchards? Think about it, the garden is better than the Orchard!!
Think about it, the garden is better than the Orchard!!
That's sig worthy, right there.
Have to agree with SevenNew. While it may not matter for FICO scoring to show 12, 30 or even 50 inq's, it sure does for the chances of approval for decent credit lines and future apps for car loans or mortgage.
It is also highly unlikely that any of the new approvals will grow with you in time. I mean, I don't think you will ever end up with 50 cards with a CL of $5K ea for a total available CL of $250K while making $50K per year for example and thus will have a majority of cards with toy lines of credit.
You are seen as high risk during manual underwriting. Sure, some of those cards might offer you a decent CL with time, but not the majority. Having that many lines of credit also increases your risk for late payment I would think. Seems like a full time job just keeping cards active and making sure the payments are made on time.
All of this is just my opinion and am sure there exceptions to everything.
@tcbofade wrote:Think about it, the garden is better than the Orchard!!
That's sig worthy, right there.
Done!
Just got an instant approval for PenFed Promise Visa, limit 7,000.
Thats 3 cards in last half year. Im done now, srsly.
@LS2982 wrote:There are gardeners.......and there are app-addicts like myself.
Feel free to join me while I stick my foot in my mouth..............(amazon denied)
So if your like me and just CANT control yourself, pull up a chair and vent off in this thread!
Hello, I notice in your signature that you wrote TU08 Walmart. How do you know that Walmart is the TU08? Have "we" gotten confirmation from them?
Thanks in advance!
@Booner72 wrote:
@LS2982 wrote:There are gardeners.......and there are app-addicts like myself.
Feel free to join me while I stick my foot in my mouth..............(amazon denied)
So if your like me and just CANT control yourself, pull up a chair and vent off in this thread!
Hello, I notice in your signature that you wrote TU08 Walmart. How do you know that Walmart is the TU08? Have "we" gotten confirmation from them?
Thanks in advance!
Yes, via MarineVietVet
The TU score from Walmart is officially TU08
From a BK years ago to:
EX - 3/11 pulled by lender- 835, EQ - 2/11-816, TU - 2/11-782
"Some people spend an entire lifetime wondering if they've made a difference. The Marines don't have that problem".