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Moderator Emeritus
tinuviel
Posts: 4,877
Registered: ‎11-02-2010

Re: Garden Club Meeting - March 2013

[ Edited ]

Well, it's been an interesting couple of days. Please bear with me as I relate this...


My DH and I are small business owners. The nature of our business is such that a good chunk of our expenses go to the phone company for services. We've often wished that we could get the same kind of rewards on our business's phone expenses as we do for bonus categories on our Discover and Chase cards.


Yesterday came, and lo and behold with it an offer in the mail for a Chase Ink card, with 5% cash back on our major expense categories. Until recently, my DH has not been very interested in credit matters, but he's been impressed with how we've been doing with our personal rewards cards, and his eyes lit up when he saw the offer. Those of you who've known me on these forums for any good length of time know that I'm not one who is prone to app on impulse, and I really wasn't looking for another card. But this one seemed to be such an ideal fit for our business spending patterns, and I was feeling so empowered after my recent Freedom approval, so I wound up pulling the trigger. (Yes, I'm human <shrug>)


The result was the dreaded "Your application needs more processing" message. Frankly, I felt deflated. But I've learned a lot from reading these boards, and so today I gave them a call to see if they needed any further information. I spoke with a very polite and friendly credit analyst, and he told me that my application was rejected for "too many recent Chase accounts" (I just opened the one!), but that he would be happy to review the application for reconsideration. He informed me that my personal credit was well established, and made note that I have an Amex in good standing, low balances, and that all in all my credit was solid. I must admit that his good regard for my credit report perked up my mood. He asked me a few questions about the details of my business, and a few minutes later told me that he was approving the application with a CL of $7500, which is ample for the type of spending we plan on!


I'm so happy that I learned about recons on this forum, as I was able to turn what was going to be a negative into a positive. I already took a ding from the inq on my EQ, and I wasn't going to go down without a fight. So glad that I called in and it worked out!


I'd also like to say this... I am a big believer in setting goals and having a plan to reach those goals. But I also don't believe in being so rigid that one refuses to look at an unexpected opportunity that could be beneficial and that doesn't derail one's long term plans. This move made sense for us financially, and while it wasn't a planned app, I'm glad that I did it.


Now, this is it... I am DONE. At least it was only a four day detour from the garden, so I don't have too much ground to restart. Grabbing my watering can and getting back to work...


Current Scores: EQ 775 (03/04/2014), EX 756 (03/01/2014), TU 760 (03/01/2014)
Ruby Spade Garden Club Member - Last App: 03/04/2013 - No apps until 2014
Cards: Cap1 Venture 6.4k, Cap1 Quicksilver MC 1.75k, BankAmericard 1-2-3 Visa Signature - UCF Alumni Association 5k, Discover 7k, Citi Diamond Preferred MC 10.35k, Wells Fargo Rewards Visa 7k, Chase Freedom 5k, Chase Ink 7.5k, Amex Green NPSL, Dillard's Amex 7.5k, JC Penney 7.5k, Kay Jeweler's 5.1k
Moderator
09Lexie
Posts: 24,418
Registered: ‎09-13-2012

Re: Garden Club Meeting - March 2013


tinuviel wrote:

09Lexie wrote:

I am so in the garden! I did a mini spree this weekend and I now have to recover from the inq and just let my new accounts grow. Thankfully, my GE cards are at or passing the 6 mo period, so I will scratch my itch by calling Credit Solutions! 

 

I am so happy to have my credit back on track and to be approved for $10,000 Visa is all to the invaluable guidance and assistance I have received these past 7 mos.

My family thought I was a little obsessive about 'my forum' as I have grown to call it but obsession or not- it is working. Knowledge is power and I am so happy that this board is filled with caring, positive and knowledgeable people!

 

This time last year, I had no revolving credit, a paid off mortgage, 2 student loans and I had to buy a car after my son totaled my 14 year old car. Cash was the way I did business for years!  With the knowledge I have gained from all of you, I truly appreciate util, inq's,  PIF and diligently monitoring may CRs - again 

 

THANK YOU!


Congratulations to you!!! You've done a wonderful job of building up a positive credit history -- learning about repsonsible credit management and then applying what you've leaned -- and this will serve you well for years to come. May you enjoy the fruits of your labors. :smileyhappy:


@ Tinuviel - thank you.

 

You have all been so wonderful. 

Moderator
09Lexie
Posts: 24,418
Registered: ‎09-13-2012

Re: Garden Club Meeting - March 2013


tinuviel wrote:

Well, it's been an interesting couple of days. Please bear with me as I relate this...


My DH and I are small business owners. The nature of our business is such that a good chunk of our expenses go to the phone company for services. We've often wished that we could get the same kind of rewards on our business's phone expenses as we do for bonus categories on our Discover and Chase cards.


Yesterday came, and lo and behold with it an offer in the mail for a Chase Ink card, with 5% cash back on our major expense categories. Until recently, my DH has not been very interested in credit matters, but he's been impressed with how we've been doing with our personal rewards cards, and his eyes lit up when he saw the offer. Those of you who've known me on these forums for any good length of time know that I'm not one who is prone to app on impulse, and I really wasn't looking for another card. But this one seemed to be such an ideal fit for our business spending patterns, and I was feeling so empowered after my recent Freedom approval, so I wound up pulling the trigger. (Yes, I'm human <shrug>)


The result was the dreaded "Your application needs more processing" message. Frankly, I felt deflated. But I've learned a lot from reading these boards, and so today I gave them a call to see if they needed any further information. I spoke with a very polite and friendly credit analyst, and he told me that my application was rejected for "too many recent Chase accounts" (I just opened the one!), but that he would be happy to review the application for reconsideration. He informed me that my personal credit was well established, and made note that I have an Amex in good standing, low balances, and that all in all my credit was solid. I must admit that his good regard for my credit report perked up my mood. He asked me a few questions about the details of my business, and a few minutes later told me that he was approving the application with a CL of $7500, which is ample for the type of spending we plan on!


I'm so happy that I learned about recons on this forum, as I was able to turn what was going to be a negative into a positive. I already took a ding from the inq on my EQ, and I wasn't going to go down without a fight. So glad that I called in and it worked out!


I'd also like to say this... I am a big believer in setting goals and having a plan to reach those goals. But I also don't believe in being so rigid that one refuses to look at an unexpected opportunity that could be beneficial and that doesn't derail one's long term plans. This move made sense for us financially, and while it wasn't a planned app, I'm glad that I did it.


Now, this is it... I am DONE. At least it was only a four day detour from the garden, so I don't have too much ground to restart. Grabbing my watering can and getting back to work...


Wonderful! Seems like the detour was worth it!

 

Welcome back, it's a beautiful day to garden. 

New Contributor
Axa
Posts: 141
Registered: ‎02-20-2013

Re: Garden Club Meeting - March 2013


tinuviel wrote:

Well, it's been an interesting couple of days. Please bear with me as I relate this...

 


Now, this is it... I am DONE. At least it was only a four day detour from the garden, so I don't have too much ground to restart. Grabbing my watering can and getting back to work...


I think this is the icing on the cake. Better than four months and have to turn in your lovely spade.


TU 759, EX 744, EQ 779
Current Focus: Gardening indefinitely
Goals: 800 Club, pay off auto loan in 2 years
Regular Contributor
ceemee2203
Posts: 201
Registered: ‎07-27-2012

Re: Garden Club Meeting - March 2013

Congrats @tinuviel!

Current Cards: AMEX Green, AMEX BCE ($15.2k), AMEX SPG ($6k), Arrival ($7.5k), Merrill+ ($7.5k), Freedom ($5k)

4/14 - 762 Fico (Barclaycard)
Senior Contributor
Wolf3
Posts: 3,198
Registered: ‎01-24-2010

Re: Garden Club Meeting - March 2013

I juiced my scores, with low utilizaiton in February and did not get any Mortgage Refi offers that where worth pursuing.   So I used my low score to apply for Wells Fargo cash back card.   Instant Approval for $8K ( big suprise)   They are running 3% cash back on all purchases with 0% APR for six months.   Everything is going through this card for 6 months.  Got 2 other CLI as well.'

 

 In the garden until late summer or longer.   Then I might check on a Mortgage Refi again.  

New Contributor
Axa
Posts: 141
Registered: ‎02-20-2013

Re: Garden Club Meeting - March 2013

Welcome to the Garden, Wolf3. Sorry that you're planning to be here for such a short time. I guess you'll be departing as soon as your WF seedling matures, but at least you'll have acquired some spades along the way. Good luck on a great refi.


TU 759, EX 744, EQ 779
Current Focus: Gardening indefinitely
Goals: 800 Club, pay off auto loan in 2 years
Established Contributor
calihlove75
Posts: 787
Registered: ‎05-16-2012

Re: Garden Club Meeting - March 2013


tinuviel wrote:

Well, it's been an interesting couple of days. Please bear with me as I relate this...


My DH and I are small business owners. The nature of our business is such that a good chunk of our expenses go to the phone company for services. We've often wished that we could get the same kind of rewards on our business's phone expenses as we do for bonus categories on our Discover and Chase cards.


Yesterday came, and lo and behold with it an offer in the mail for a Chase Ink card, with 5% cash back on our major expense categories. Until recently, my DH has not been very interested in credit matters, but he's been impressed with how we've been doing with our personal rewards cards, and his eyes lit up when he saw the offer. Those of you who've known me on these forums for any good length of time know that I'm not one who is prone to app on impulse, and I really wasn't looking for another card. But this one seemed to be such an ideal fit for our business spending patterns, and I was feeling so empowered after my recent Freedom approval, so I wound up pulling the trigger. (Yes, I'm human <shrug>)


The result was the dreaded "Your application needs more processing" message. Frankly, I felt deflated. But I've learned a lot from reading these boards, and so today I gave them a call to see if they needed any further information. I spoke with a very polite and friendly credit analyst, and he told me that my application was rejected for "too many recent Chase accounts" (I just opened the one!), but that he would be happy to review the application for reconsideration. He informed me that my personal credit was well established, and made note that I have an Amex in good standing, low balances, and that all in all my credit was solid. I must admit that his good regard for my credit report perked up my mood. He asked me a few questions about the details of my business, and a few minutes later told me that he was approving the application with a CL of $7500, which is ample for the type of spending we plan on!


I'm so happy that I learned about recons on this forum, as I was able to turn what was going to be a negative into a positive. I already took a ding from the inq on my EQ, and I wasn't going to go down without a fight. So glad that I called in and it worked out!


I'd also like to say this... I am a big believer in setting goals and having a plan to reach those goals. But I also don't believe in being so rigid that one refuses to look at an unexpected opportunity that could be beneficial and that doesn't derail one's long term plans. This move made sense for us financially, and while it wasn't a planned app, I'm glad that I did it.


Now, this is it... I am DONE. At least it was only a four day detour from the garden, so I don't have too much ground to restart. Grabbing my watering can and getting back to work...


Congrats agCongrats again! Hey, if you were going to pull the trigger now was definitely the time to do it. I think you have added two great additions. Gardening definitely pays off!

100% Ficos: EX 762, TU 767, EQ 754 Inquiries last 1 year/6 months: EX-0/0, TU- 0/0, EQ-2/1~ last credit card app 6/24/13- New car loan 3/8/2014
Discover IT $8000~Kohls $1000~Amex BCE $2000~ Walmart Discover $7500~NFCU Signature CashRewards $14,000~ Chase Freedom MC $6000~ Chase Amazon Visa $1900~ Cap 1/HSBC MC $2500~ Amazon Store $7000~ Fingerhut $1050
Established Contributor
calihlove75
Posts: 787
Registered: ‎05-16-2012

Re: Garden Club Meeting - March 2013


tinuviel wrote:

Well, it's been an interesting couple of days. Please bear with me as I relate this...


My DH and I are small business owners. The nature of our business is such that a good chunk of our expenses go to the phone company for services. We've often wished that we could get the same kind of rewards on our business's phone expenses as we do for bonus categories on our Discover and Chase cards.


Yesterday came, and lo and behold with it an offer in the mail for a Chase Ink card, with 5% cash back on our major expense categories. Until recently, my DH has not been very interested in credit matters, but he's been impressed with how we've been doing with our personal rewards cards, and his eyes lit up when he saw the offer. Those of you who've known me on these forums for any good length of time know that I'm not one who is prone to app on impulse, and I really wasn't looking for another card. But this one seemed to be such an ideal fit for our business spending patterns, and I was feeling so empowered after my recent Freedom approval, so I wound up pulling the trigger. (Yes, I'm human <shrug>)


The result was the dreaded "Your application needs more processing" message. Frankly, I felt deflated. But I've learned a lot from reading these boards, and so today I gave them a call to see if they needed any further information. I spoke with a very polite and friendly credit analyst, and he told me that my application was rejected for "too many recent Chase accounts" (I just opened the one!), but that he would be happy to review the application for reconsideration. He informed me that my personal credit was well established, and made note that I have an Amex in good standing, low balances, and that all in all my credit was solid. I must admit that his good regard for my credit report perked up my mood. He asked me a few questions about the details of my business, and a few minutes later told me that he was approving the application with a CL of $7500, which is ample for the type of spending we plan on!


I'm so happy that I learned about recons on this forum, as I was able to turn what was going to be a negative into a positive. I already took a ding from the inq on my EQ, and I wasn't going to go down without a fight. So glad that I called in and it worked out!


I'd also like to say this... I am a big believer in setting goals and having a plan to reach those goals. But I also don't believe in being so rigid that one refuses to look at an unexpected opportunity that could be beneficial and that doesn't derail one's long term plans. This move made sense for us financially, and while it wasn't a planned app, I'm glad that I did it.


Now, this is it... I am DONE. At least it was only a four day detour from the garden, so I don't have too much ground to restart. Grabbing my watering can and getting back to work...


Sorry don't know what happen with my last response but it ended up all flubbed up..lol. I said,

Congrats again! Hey, if you were going to pull the trigger now was definitely the time to do it. I think you have added two great additions. Gardening definitely pays off!

 


100% Ficos: EX 762, TU 767, EQ 754 Inquiries last 1 year/6 months: EX-0/0, TU- 0/0, EQ-2/1~ last credit card app 6/24/13- New car loan 3/8/2014
Discover IT $8000~Kohls $1000~Amex BCE $2000~ Walmart Discover $7500~NFCU Signature CashRewards $14,000~ Chase Freedom MC $6000~ Chase Amazon Visa $1900~ Cap 1/HSBC MC $2500~ Amazon Store $7000~ Fingerhut $1050
Moderator Emeritus
tinuviel
Posts: 4,877
Registered: ‎11-02-2010

Re: Garden Club Meeting - March 2013


Axa wrote:

tinuviel wrote:

Well, it's been an interesting couple of days. Please bear with me as I relate this...

 


Now, this is it... I am DONE. At least it was only a four day detour from the garden, so I don't have too much ground to restart. Grabbing my watering can and getting back to work...


I think this is the icing on the cake. Better than four months and have to turn in your lovely spade.


Yes, this is pretty much how I'm looking at it; the timing for that offer to come in was serendipitous. Now the two Chase cards can age together. :smileyhappy:


Current Scores: EQ 775 (03/04/2014), EX 756 (03/01/2014), TU 760 (03/01/2014)
Ruby Spade Garden Club Member - Last App: 03/04/2013 - No apps until 2014
Cards: Cap1 Venture 6.4k, Cap1 Quicksilver MC 1.75k, BankAmericard 1-2-3 Visa Signature - UCF Alumni Association 5k, Discover 7k, Citi Diamond Preferred MC 10.35k, Wells Fargo Rewards Visa 7k, Chase Freedom 5k, Chase Ink 7.5k, Amex Green NPSL, Dillard's Amex 7.5k, JC Penney 7.5k, Kay Jeweler's 5.1k

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