New Idea: Paving Over the Garden - Affiliate Cards

[aestu]

As I've said in other threads, I am a very frugal young man with no credit card debt who has a fetish for pieces of colored plastic and long credit lines. I am impatient and unorthodox by nature, so I am looking for creative ways to overcome the time limitations on credit card application - the so-called "garden" period.

Recently I scored an AARP Signature VISA with excellent terms, because I am a lifetime AARP member despite being only 28. My logic was, why wait till I'm mostly dead to start reaping the benefits?

I recently decided I wanted to join a good credit union, so I joined PenFed and the USAA. [ MOD CUT]  USAA has excellent customer service, refundable ATM fees, and no minimum balance; PenFed has excellent financial programs and one of the best AmEx cards easily available. I made a $500 initial deposit with PenFed, and became instantly eligible for a card despite a large number of inquiries connected with an application binge I've been on.

So right now, I have zero credit utilization and a ton of recent inquiries. I am starting to get turned down for no other reason than so many inquiries and new accounts. This doesn't particularly worry me, because it will all fall off in a year and I am more concerned with long-term expansion than short-term needs. But it does leave me wondering where to go from here.

Then I thought about my AARP, PenFed and USAA cards, and some other cards I picked up almost incidentally from banks I had accounts with at some point.

Is it possible to use deposits at random banks and sponsorships by organizations to get more credit than is usually possible through "cold" applications?

Hypothetical examples:
1. I recently obtained a heavily discounted NRA lifetime membership, despite never having held a gun in my life and having no interest in their agenda, just so I could get the insurance, discounts, facility access and free magazines. They mailed me a lot of Life Member kitsch, and I sold it all on eBay, recouping most of the cost of the membership. The NRA also has a credit card, which, like their insurance program, includes kickback provisos for the organization. Therefore, I assume it is easier to get acceptance than a "cold" app to the same bank (the ultra-conservative FNBO).

2. Fifth & Third and PNC both are available in this area. As a UCinn student, I get a free PNC account, which I haven't opened yet because my impression of PNC is so bad. But now I'm thinking if I did, and made the minimum deposit to waive monthly fees at both banks, I should be qualified for more cards.

3. I could potentially gain (or buy) membership to many organizations that offer sponsored cards - AAA, REI, various airline programs.

4. I could buy a financially sound but operationally moribund small business corporation, then use my ownership of the business (and its history) to apply for all kinds of business credit in my name and SSN but the business tax ID, without ever using any of it.

The goal here is to "pave over the garden" by using institutional patronage to defeat the inquiry bottleneck, so massive expansion of credit is possible in a much shorter time than usually could be. The real benefit comes five or ten years down the line, when credit lines are individually increased, and what you have, is someone with the income and assets of an ordinary American, but the credit history of a very wealthy person, with all the benefits that could bring.

Mod Cut- removed comments that may be insenstive to others - Lexie, myFico Moderator

[djc1puno]

just wanted to ask...how recent did you join USAA and how did you join without having a military association?

[09Lexie]

This thread is locked and under Moderator Review

-Lexie, myFICO Moderator

[09Lexie]

Let's try this again...

[Walt_K]

I'm not really sure what you are asking.  There are people who apply for 4-5 cards every three months to churn CC signup bonuses.  That's actually on the conservative side for some churners who push it a little further.  They do this without joining lots of organizations or opening additional checking accounts.  How many cards are you trying to apply for?  Where do you think the line is on too many apps?

You don't need to buy a small business to open small business cards.  You just apply as a sole proprietor and use your SSN.  Don't lie on the application.  Lots of people are able to get business cards for businesses that are just starting and have no revenue.  If you're starting a business selling things on ebay for example, you could probably get a business credit card if you have good personal credit.  

[aestu]

Too many... between six and ten in a year, I guess? Or whenever you get rejected? Either way, I am getting rejected on the basis of inquiries alone.

My understanding is that there is an "enterprise" credit rating for businesses. I wouldn't lie, that's self-defeating. It's not untruthful to join an organization or buy a corporation just to expand your personal credit, especially if you are young and the snowball effect is still in play.

[awiser]

"Recently I scored an AARP Signature VISA with excellent terms, because I am a lifetime AARP member despite being only 28. My logic was, why wait till I'm mostly dead to start reaping the benefits?"

50's is mostly dead?

[lg8302ch]

sometime less is more...why not focus on "quality" rather than "quantity"

[coldnmn]

---

@awiser wrote:
"Recently I scored an AARP Signature VISA with excellent terms, because I am a lifetime AARP member despite being only 28. My logic was, why wait till I'm mostly dead to start reaping the benefits?"

50's is mostly dead?

---

If your lucky there will be a day when you'll think 50 is young.

[H4LO]

---

@djc1puno wrote:

just wanted to ask...how recent did you join USAA and how did you join without having a military association?

---

Wait... So I do my time in the USAF and someone gets approved wiithout any sort of military association? Really?