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So,
After graduating from college 2 years ago, saving up a good deal of money, and currently in last year of law school, I decided it would be a good time to get a new car. My mother had given me an Audi when I graduated high school so I was planning on trading that it. Now, the car I have always wanted was a Porsche 911 convertible, never really thought I would be able to get it. However!! I recently went into the local dealership, just planning on looking around. well, as luck would have it, there were a bunch of 08 models left over and were priced, sometimes, 20k under sticker price. With that discount, the trade in value of my car, and a kick ass apr of 4.3% from their credit services, I was able to purchase the car I always wanted, financing just over 35k. I had also applied for financing from my local CU, however, their rate was 5.5% so i went with the dealers program.
Anyway, since I knew i screwed up the inquiry section of my reports with 4/5 different places viewing my reorts for the auto loan, i figured I might as well apply for a few cards while at it (do all the damage at once). here are the results
Amex Gold (upgrade from green): Approved - CLI from green,
CL: 10k
Kay Jewlers (Plan on possibly proposing to my girlfriend in the next couple months)
Approved:
CL: 8950 (odd number for intial credit limit)
Citi Diamond (never had an account with citi before, figured id throw it in to the mix)
Approved: 7k
Shell Gas Card ( I only purchase shell gas, not sure why I didnt do this sooner)
Approved: 1300
BofA Black Amex (This will be my 4th BofA card)
Approved: 6.5k
Local CU
Approved:
15.5k - I also do some of my banking and have a good deal in savings with them
Discover (never had discover either)
Declined:
Reason: Too many inquires... Go figure!
And thats when I stopped.
Now, I know what many of you are going to say, that its going to KILL my AAofA, however, it will not, and can never hurt my AAofA. You see, my father and I have the same name and two of his credit cards have been showing on my report since I turned 18 years old, and I have never requested that they be removed because he has never missed a payment, and those two card alone have a combined limit of 34k.
His accounts that list on mine are:
Amex: 28k, 2% util, never late
listed as cardholder for 26 years
Bank of America: 6k, 0% util, never late
Listed as cardholder for 19 years.
Anyway, who said there was a credit crisis and the economy has turned into an episode of Jerry Springer? (please add sarcasm, I know that unfortunately, this is all true)
Well, Im done app'ing for a couple years
P.S. I wouldnt recommend this for anyone!! I was just doing all the damage at once, knowing full well I will not be needing any credit for at least 2 years, which will give me time to garden.
Congrats on the car and the nice cards. Things look like their moving along quite well for you. Your hard work is paying off. My dad gave me a Datsun B210 for graduation. HA HA !!!!!!
Seriously though, again Congrates!
Congrats on your approvals. My first car was also Datsun B210.