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Opened way too many cards

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Anonymous
Not applicable

Re: Opened way too many cards

That's seriously one of my current issues. I want to be in the garden, but it's soooo hard to NOT app lol
Message 11 of 19
Anonymous
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Re: Opened way too many cards

1) Thanks for the kind words Lover & Hawk😇

2)Abelcrdn, I'd basically say the same goes for you let your accounts age.
You've got nice CLs...8 of your 9 UNSECURED...Use as you PLEASE credit lines accounts have been issued with multiple THOUSAND dollar availability.

Not bad, friend.... Nothing to sneeze at
Once one considers the POSSIBLE 'risk' associated with that scenario (nothing personal, just from a possible RISK POV)

More ppl would actually see that you are in a GREAT position and actually thought of pretty well...All things considered.

Think about it...IF you were in the lending and waiting and hoping to get paid business, no matter what the current score was...How far in the BACK of the line would YOU want to stand....Ya know, just in case

Yeah, you might say Yes but as I mentioned earlier, you probably be a bit more conservative with the amount of zeros in the SL offered, just like Navy, right?

 

>50% of the population happens to be female. -- Revelate

Message 12 of 19
Anonymous
Not applicable

Re: Opened way too many cards


@Anonymous wrote:
That's seriously one of my current issues. I want to be in the garden, but it's soooo hard to NOT app lol

Out of curiosity, what were your credit scores prior to your spree?  How many inquries did you get on each bureau from the spree?  Have any of the new accounts showed up on your reports yet?  I'd be curious to see what your score drop is from the 8 new accounts once they are all reported and how long it takes you to recover from the spree and have your scores return to where they were prior.

Message 13 of 19
Anonymous
Not applicable

Re: Opened way too many cards

Before the spree, my FICO score was 702. Ex 700, TU 698, EQ 678.

I already had 4-5 Inq, and gained 5 more throughout the whole spree I just had.

None of the accounts have been reported yet. I'm guessing it's because I have not confirmed them yet, because supposedly they're on their way.

Message 14 of 19
Anonymous
Not applicable

Re: Opened way too many cards

I'm confused about the scores you listed.  You said your "FICO" score is 702 and then you listed 3 more scores, one from each bureau.  Where are you getting all of these scores from?

 

I would think if you just opened 8 new accounts, you'd have at least 8 more inquiries that just showed up unless some simply haven't yet.  Certain creditors like CO for example also hit you with inquries across multiple (all I believe) bureaus, where most usually only land on one bureau.

 

The accounts haven't reported yet just because they're so new.  Sometimes they can report in a week or two (that's the fastest I've seen) but some can take a month or even 2 months. 

 

The first step is defining your source for the credit scores you provided, then making sure you use the same source in say 2 months when all of the accounts have been reported for comparison purposes if you're willing to post the numbers in this thread at that time.

Message 15 of 19
Anonymous
Not applicable

Re: Opened way too many cards

BBS is 100% on point here

1) With regards to when accounts show up on reports...Some are lickity quick, fast as lighting...Others, as mentioned can take 4 times as long.
*Granted 2 months is normally about the max (of course it can feel like 3 based upon, statement cut date vs account open dates...Your zip code bundle, etc, lots of gibberish
None that have anything to do with a ' confirmation' or in some cases, even activating the darn thing (I've had cards report before, I even opened the darn mail😊)
But I agree...2 weeks to 2 months, either it's up to THEM how quick, not really in our wheelhouse as consumers.

2) More IMPORTANTLY...
We've got to make sure the OP and whomever else (I'm sure, there a more) truly understands...

WHAT score their looking at
And WHY & How this thing got and is so Confusing?
Or the confusion just builds and will happen again, even when well meaning ppl (and some marketers) attempt to 'help' clear it up.

All 3 major bureaus will use A version of a FICO score
There really is no FICO w/o one of the big 3s data used for crunching the # called the FICO score

(Making matters more complicated, there are many versions or flavors that can be derived dependant upon the purchaser criteria (that is the lender/CC company, etc)...Let's skip the various flavors for now)

In addition to the FICO score the bureaus created a 'store- brand' score call Vantage score, also referred to generically as your credit score... Because, it is ....Just NOT the one you "think" it is.

Think Coke but they deliver Cola😎...It's 'a' cola drink perhaps even in a red can, with bubbles and everything but it ain't the Coke Cola brand that you may assume and they don't work so hard to clear up for you.

Not to say to off brand 'educational' products aren't educational because they are and act as decent, most times FREE indicators...Just don't confuse them with real Coke.

On this forum, generally speaking unless specifically said otherwise the assumption is one is sharing FIco scores or you'll see a source referenced like
Cap1 or CL or whatever...That way as BBS stated at least for tracking purposes the tracker is using a base method of tracking or one is wasting their time.

Example, if you're gonna track sprinters you gotta use the same busted stopwatch each time or the stats are meaningless 😇
Message 16 of 19
Anonymous
Not applicable

Re: Opened way too many cards


@Abelcrdn wrote:
I am in the same boat, does look like the cards you got picked are all good cards! I just had two secure cards that I use to get my desired cards Smiley Happy

1.) Amex BCE $1,000
2.) Amex Delta $2,000
3.) Costco Citi $6,500
5.) Barclay MC Rewards $7,500
6.) Southwest $2,700
7.) Alaska $2,800
8.) Us Bank Cash + Visa $2,000
9.) NCFU $2,600

I love every single one of them! And use them all !! Citi and Us bank are both on 0% interest . Was kinda disappointed with my NCFU since my scores are all above 730 but oh well.

Wow.. You have a lot of Airline cards..

 

Was thinking of apping for the BOFA Asiana Airlines couple of days ago to use to purchase plane tix to Asia. In the end, I ended up paying it with my Discover IT card.

Message 17 of 19
grillandwinemaster
Valued Contributor

Re: Opened way too many cards


@Anonymous wrote:
1) Thanks for the kind words Lover & Hawk😇

2)Abelcrdn, I'd basically say the same goes for you let your accounts age.
You've got nice CLs...8 of your 9 UNSECURED...Use as you PLEASE credit lines accounts have been issued with multiple THOUSAND dollar availability.

Not bad, friend.... Nothing to sneeze at
Once one considers the POSSIBLE 'risk' associated with that scenario (nothing personal, just from a possible RISK POV)

More ppl would actually see that you are in a GREAT position and actually thought of pretty well...All things considered.

Think about it...IF you were in the lending and waiting and hoping to get paid business, no matter what the current score was...How far in the BACK of the line would YOU want to stand....Ya know, just in case

Yeah, you might say Yes but as I mentioned earlier, you probably be a bit more conservative with the amount of zeros in the SL offered, just like Navy, right?




 

 

Very well worded Gemini.

 

OP, you have done very well for yourself. Congrats on your portfolio.

 

Best credit wishes to you!


Current Scores 3/2016 Equifax 676 Transunion 697 Experian 648 Goal Scores: 720's accross the board. Gardening Goal: 3/2017
Message 18 of 19
Anonymous
Not applicable

Re: Opened way too many cards

1) I'm not that imaginative and
2) It takes things to a place, just about everybody can relate

Oh and I'm probably too old to learn new material...


And trust me it was for educational purposes... Neither Boston and for darn sure Green Bay are my squads but they unfortunately are honestly the best examples.

I don't have love for the Pat's and I've been known to root for ANYONE playing the cheese (as any real Bear fan should 😉) however I am not blind and won't LIE on results...

Thanks now... I have to sit here and think about what it'd be like to have a QB😶

Message 19 of 19
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