I Am Addicted to Applying for Credit Cards

Anonymous · ‎09-29-2015

I never had a credit card in my life until spring this year. I don't know why I applied for credit cards but I went on a spree, randomly applying for junk cards. I didn't know that junk cards exist. I thought all cards were created equal. First I was shopping for a iPhone, then this pop up appeared for me to apply for a Barclay Apples Reward Card for 0% interest for blah blah months. I paid that off and now I have no use for this junk card. I still have their $25 iTunes card. Why buy music when it's free on Youtube or Spotify? Then for whatever reason I decided to learn what credit scores mean and what the .... they were, so I joined some free credit score website. Then they said, with you score you should apply for yaddy yaddy, junk cards. So I ended up with two more junk cards, some student Capital One card and a Capital One Mastercard. Well they are now Quicksilver cards. Then just a few days ago, I decided to go on a frenzy and apply for cards and ignore what these free credit score webpage told me to apply for. I applied for Discover it and American Express Blue Cash and was approved.

I wish I didn't listen to these stupid credit card ads when I was shopping for an iPhone. I wish I didn't listen to these stupid free credit scores because they told me to apply for crap cards when I could have gotten better cards. Now I want to make up and get another card because I don't like the trash cards I stupidly applied for because of my ignorance. Should the next card I apply to be the Citi Double Cash Back card? The free credit score made me feel like an idiot and I want to make up for that; kind of like that Snicker's commercial where the guys had to tear off their chest hairs because they did something girly. Is this a common story for credit card noobs?

FinStar · ‎09-29-2015

So, in other words, you're on the rebound? Not sure whether your profile support the Citi Double Cash Back but the decision is entirely up to you. No one can say for sure whether you'll be approved or not until you apply.

Anonymous · ‎09-29-2015

@FinStar wrote:
Not sure whether your profile support the Citi Double Cash Back...

What do you mean by this? There is a profile with personal information?

FinStar · ‎09-29-2015

@Anonymous wrote:
@FinStar wrote:
Not sure whether your profile support the Citi Double Cash Back...
What do you mean by this? There is a profile with personal information?

Meaning, have you done your research to determine whether you can qualify for getting the card.

Anonymous · ‎09-29-2015

I don't know. I have 5 new accounts openned in last 6 months so the total hard inquiries is 5. I know Citi will likely pull Experian and my EX score is 730 with a utilization of around 4%. I have no baddies. What concerns me is the 5 new accounts.

FinStar · ‎09-29-2015

That in it of itself would likely diminish your chances. Citi can pull EX and/or EQ, so it's not exclusive to just one CR and would depend on your overall credit profile. Do you really have to have this card at this point? Of course, the only way to know for sure is when you apply. If you are declined, then your chances for reconsideration will be likely anywhere from slim to none (given what you've shared). YEMV.

Anonymous · ‎09-29-2015

I'm not concerned about my credit score all across; they are higher than the average--a good score, not excellent but good. I'll just wait another 6 months and see if the scores will rise because the hard inquiries won't hit as hard due to their age.

Anonymous · ‎09-29-2015

What are your scores (real FICO scores, not FAKO scores) and what was your starting limit on the Discover card? I was approved for the Double Cash right after getting in with Discover, my SL with Discover was $4000. You can check the prequal for Citi and see if the Double Cash comes back with a single APR rate (not a range of APRs). I was opted-out so I went in blind with the Double Cash and was surprisingly approved.

Citi seems to be a tough cookie to crack, probably one of the more fickle lenders to get in with. How old is your oldest card and do you have any derogatory information on your reports?

Oz

Anonymous · ‎09-29-2015

Sorry, looks like you replied as I was typing my reply which you answered some questions. Citi pulled EQ for me (I live in Colorado), if you google credit pulls and put in Citi and your state you can likely see what bureau they'll pull. They, like Chase, have been known to double pull (usually EQ and EXP) if you're borderline...

Oz

FinStar · ‎09-29-2015

@Anonymous wrote:
I'm not concerned about my credit score all across; they are higher than the average--a good score, not excellent but good. I'll just wait another 6 months and see if the scores will rise because the hard inquiries won't hit as hard due to their age.

I would say that's probably a wise decision. By then, most of your accounts would have aged >12 months. Now keep in mind, the Citi Double Cash Back is not known for tentalizing starting limits (again depending on creditworthiness). But, if it's going to be your main CC for the 2% CB, then what some folks typically do is after getting approved and receiving the card is submit a CLI request to see if they can raise the limit - not guaranteed but worth a try for some. You'll incur another HP in the process. Just something to think about.