Multiple apps is just what I did but I didnt really plan them I just got excited with every approval and did another. I didnt have much in credit cards I just paid cash for everything. I only had two sick credit cards and one of those was secured.
While its laughable now...it was the key to getting my mortgages because I had very little debt. What hurt was not having any high limit cards to finance repairs for my properties.
I think you will do fine with the apps. Remember though Discover uses TU I applied for that one today and got it. The agent told me on the phone thats what they pulled.
@Bluegoldkeys wrote:Dont think so. I did a Quint
Walmart, Best Buy, - Friday
Amazon - Saturday
Amex - Tuesday
Citi DP - Wedsneday.
approved for all. I have commited to no more for the next two years or until a house. I have all the cards i need now
I finally got the higher limit cards but I did it so quickly Im worried now. Especially after reading another post about suspension of Amex. The poster hasnt given any details about it yet.
OH! yeah...I hope I can just relax for a bit. I did not think of the major purchases later. I intend to buy more property after I flip at least one. I hope I hadnt hurt my chances...
Starting Score: EQ 680 EX 731 TU 697
@stillirise wrote:I dunno...
I like the higher limits to keep the utilization down. You have some pretty serious limits there yourself. I cant imagine a 42k limit in my lifetime. Awesome job!
@longtimelurker wrote:
@nj23 wrote:Thanks for the advice, I will hold off and do all at once and start with Barclay's.
I am going to keep an eye on AMEX BCE in case they have a better offer by the time I app - It kind of seems like the Bank Americard Cash Rewards and BCE aren't all that different. One thing that seems appealing about AMEX is the CL/CLIs. I'm looking to get the largest credit lines I can. My income is about 55k, so I'm not expecting gigantic limits, but I've seen people (a couple around these forums) with less income get pretty large limits.
Why? IMO, this focus is wrong. You should go for what maximizes your return. Now if you need to transfer a balance, or are always carrying a balance (and want to reduce util), or need to make a large purchase, then maybe getting a large CL is worthwhile. But in other cases a large CL has no real value, whereas getting good rewards does.
I believe I am choosing fairly good cards as far as rewards are concerned, but I would like to have high limits to have plenty of wiggle room for utilization, and to have plenty of emergency spending power, if needed. I have no debt, so the limits wouldn't be for balance transfers or anything like that, and I'm planning on PIF each month on all. Plus, you need higher limits to get some of the better cards down the line. I want to be able to go into a car dealership and qualify for that 0.9% APR offer on a whim 
@stillirise wrote:Multiple apps is just what I did but I didnt really plan them I just got excited with every approval and did another. I didnt have much in credit cards I just paid cash for everything. I only had two sick credit cards and one of those was secured.
While its laughable now...it was the key to getting my mortgages because I had very little debt. What hurt was not having any high limit cards to finance repairs for my properties.
I think you will do fine with the apps. Remember though Discover uses TU I applied for that one today and got it. The agent told me on the phone thats what they pulled.
@Bluegoldkeys wrote:Dont think so. I did a Quint
Walmart, Best Buy, - Friday
Amazon - Saturday
Amex - Tuesday
Citi DP - Wedsneday.
approved for all. I have commited to no more for the next two years or until a house. I have all the cards i need now
I finally got the higher limit cards but I did it so quickly Im worried now. Especially after reading another post about suspension of Amex. The poster hasnt given any details about it yet.
OH! yeah...I hope I can just relax for a bit. I did not think of the major purchases later. I intend to buy more property after I flip at least one. I hope I hadnt hurt my chances...
I was worried too but things will be fine. Time to garden and let the cards and scores mature.
@longtimelurker wrote:
@stillirise wrote:I dunno...
I like the higher limits to keep the utilization down. You have some pretty serious limits there yourself. I cant imagine a 42k limit in my lifetime. Awesome job!
@longtimelurker wrote:Why? IMO, this focus is wrong. You should go for what maximizes your return. Now if you need to transfer a balance, or are always carrying a balance (and want to reduce util), or need to make a large purchase, then maybe getting a large CL is worthwhile. But in other cases a large CL has no real value, whereas getting good rewards does.
Unless you need to carry a balance utilization is something you can control (and if you need to carry a balance, low APR trumps CL). And utilization is only important when you are applying. Way overstressed here.
Re the $42K. The only reason I have that, moving CLs around, is because it is needed on this card as it used for MS. Amex seems to pay attention to total spend per month compared to credit limit (i.e. paying it down mid month doesn't put them off the scent!) and people have been informed that the CL "is there for a reason"
And yes, as the OP said, there are valid reasons for going for high CLs, to cover for emergencies. But, to my mind, high limits getting high limits is not always true, and at least some creditors WON"T give you good card/limits/terms if they are concerned that your total CL is too high compared to income. So there can be a cost.
I really need to carry a balance and have the funds available. I dont intend to spend enough money to make a profit with rewards. Hopefully I will make my money off the houses I repair with the credit lines. I really had to pinch to buy my properties but I only had a couple of low limit cards back then. Therefore, everytime I used one to make a repair my credit took a big hit. I REALLY needed a credit line to get those houses ready for market. A lot had to come out of pocket until I got a super high int loan from repair store.
I am literally trying to make the credit work to my benefit....need those credit lines.
@Bluegoldkeys wrote:
@stillirise wrote:Multiple apps is just what I did but I didnt really plan them I just got excited with every approval and did another. I didnt have much in credit cards I just paid cash for everything. I only had two sick credit cards and one of those was secured.
While its laughable now...it was the key to getting my mortgages because I had very little debt. What hurt was not having any high limit cards to finance repairs for my properties.
I think you will do fine with the apps. Remember though Discover uses TU I applied for that one today and got it. The agent told me on the phone thats what they pulled.
@Bluegoldkeys wrote:Dont think so. I did a Quint
Walmart, Best Buy, - Friday
Amazon - Saturday
Amex - Tuesday
Citi DP - Wedsneday.
approved for all. I have commited to no more for the next two years or until a house. I have all the cards i need now
I finally got the higher limit cards but I did it so quickly Im worried now. Especially after reading another post about suspension of Amex. The poster hasnt given any details about it yet.
OH! yeah...I hope I can just relax for a bit. I did not think of the major purchases later. I intend to buy more property after I flip at least one. I hope I hadnt hurt my chances...
I was worried too but things will be fine. Time to garden and let the cards and scores mature.
I just got the Amex. BoA and Discover IT.
I was waiting for the other shoe to fall.If I can just chill or "garden?" and nothing bad happens to me. I will be fine. I am still very worried though. I just got approved for the Discover (didnt take the Sams discover) I just got an alert from myfico seems I dropped 13 points on equifax this morning. my 683 went to 670. Im sure all others have dropped too. I will try to just stay under the radar for now. I really need to make this happen ....fingers crossed. 