04-08-2009 09:58 AM
OK, I've just had a bunch of banks run a credit check on me while searching for an auto loan, but while I was at it I decided to apply for a couple of credit cards.
USAA approved me for an auto, so I decided to apply for their Mastercard. This was one of my goal cards, I had been declined for it twice before, reconed it once and they said no. After the auto approval I applied for the MC and was approved for 10,000 at 7%. =D
I now have my two goal cards that I've been working toward since last year(Discover and USAA) so I really don't need or desire any more CCs. But while messing around on the NFCU website I thought Well, I'll get one more with them since I've heard such good things.
I applied for their new CashRewards card and was approved for 20,000 @ 9%
So now what can I expect from all this credit pulling? I've opened up $30,000 in tradelines within 2 days, but I've also had a lot of pulls and new accounts. I'm so close to 700 I can see it over the horizon, I just don't want this to knock me way down.
04-08-2009 10:00 AM
04-10-2009 11:37 AM
as a follow-up to this (hope the OP doesn't mind)...
04-10-2009 12:24 PM - edited 04-10-2009 12:30 PM
If his util was 0% already, then the new cards will not help his utilization. His AAoA will take a hit, but if this is his only installment loan on his CR, that will help his mix of credit.
Unless you're planning on apping for something else in the next 6-12 months, you should be very pleased.
Your score should fully rebound by the one year mark, and you now have relationships building with very reputable institutions.
04-10-2009 04:05 PM
Were you all ready a member of NFCU? I had looked at it prior to joining PenFed, but it appeared the qualifications were limited.
I am a veteran, have family in the active duty, grandparents who retired Navy, but it seemed that you or a direct relative had to be active/contractor or retired with some type of annuity or pension in order to qualify.
My cousin is active Navy. My father-in-law is active reserves and warrant officer. Grandfather retired from Navy. I was active army, but now veteran. None of these seemed to fit any of the qualifications since none of them could sponsor me.