Doesn't getting dinged quell the app itch?

[MarineVietVet]

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@adavis425 wrote:

It's even worse when you get dinged for a denial.

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A denial has no effect on your score. The inquiry might cause a drop but not the denial itself.

Edited for clarity.

[Sassy_Taurus]

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@bichonmom wrote:

As glad as I am to have a Chase card in the mail, I'm really feeling the sting of losing 5 points on EQ (not including a potential drop when it reports). It seems like a lot of people here app for a lot of cards, so I'm curious about how you deal with the sting of your FICO dropping.

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I lost pts for app'ing and that alone cured my app itch. My hands are firmly planted in the soil and I'm gardening for the next 6-8 months.

[bichonmom]

Well, I guess it bothers me more because I'm right on the 760 cusp, which is pivotal for interest rates, CLs, etc. And I've been spreading out my apps among the 3 CRAs, so I hadn't planned on getting 2 on the same CR at the same time. From here on out, I'm just going to take auto-CLIs or SPs. I guess once I have all of the cards I want, it won't be so big of a deal to have an inq. for a CLI.

[LS2982]

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@bichonmom wrote:

Well, I guess it bothers me more because I'm right on the 760 cusp, which is pivotal for interest rates, CLs, etc. And I've been spreading out my apps among the 3 CRAs, so I hadn't planned on getting 2 on the same CR at the same time. From here on out, I'm just going to take auto-CLIs or SPs. I guess once I have all of the cards I want, it won't be so big of a deal to have an inq. for a CLI.

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I think thats a good idea for you! Next year will be good for CLI's and your new cards will have some positive age!!!

[marty56]

Oh yeah.  LOL I got an email from BML saying I got a CLI and fear gripped me that I got an INQ.  Have to wait till next month to find out.

[bichonmom]

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@LS2982 wrote:

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@bichonmom wrote:

Well, I guess it bothers me more because I'm right on the 760 cusp, which is pivotal for interest rates, CLs, etc. And I've been spreading out my apps among the 3 CRAs, so I hadn't planned on getting 2 on the same CR at the same time. From here on out, I'm just going to take auto-CLIs or SPs. I guess once I have all of the cards I want, it won't be so big of a deal to have an inq. for a CLI.

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I think thats a good idea for you! Next year will be good for CLI's and your new cards will have some positive age!!!

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I hope so... hoping for an auto CLI from Barclay's at 6 mos. and will probably go for Amex around 61 days. I think everything else is a HP.

[clocktick]

I "deal" with it knowing it's temporary.  I know the CLIs will have positive effects immediately and in the longrun.  New cards will too, for utilization.  I've seen my scores fluctuate before so 5 points doesn't really bother me.

[bichonmom]

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@clocktick wrote:

I "deal" with it knowing it's temporary.  I know the CLIs will have positive effects immediately and in the longrun.  New cards will too, for utilization.  I've seen my scores fluctuate before so 5 points doesn't really bother me.

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Good points, clocktick.

[boomhower]

The ding on approvals doesn't bother me much as it's short lived and I don't app unless I have something to gain that outweighs that loss.  Dings for denials suck horribly.

[LS2982]

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@clocktick wrote:

I "deal" with it knowing it's temporary.  I know the CLIs will have positive effects immediately and in the longrun.  New cards will too, for utilization.  I've seen my scores fluctuate before so 5 points doesn't really bother me.

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+1

good way to look at it!