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Too many apps

Established Contributor

Re: Too many apps


ccnewcc wrote:

obageegee wrote:

One thing I did to avoid the app itch was to do some research on what your next move is. I took this list: http://www.indexcreditcards.com/creditcardlist.html and started doing some research about each card offered, if I felt that it might help me in the future, I cut and pasted the url into a word document. I made it like a scavenger hunt to find out what cards I might be eligeable for and thinking when I might app for each. I plotted out a 6 month strategy, a 1 year strategy and a 2 year strategy. For me all my CO's will drop in about 24 months so apping after that time fram would work. Try it, it helps.


+1 for the strategy.

 

 

That's what I ask myself when researching cards.  How will it help me?  What will it do for me?  Will I be better off apping for this card or will I have buyer's remorse?

 

 


Yea, I have two more charged offs (falling off in 2014 i think) and one collection (fallin off 06/2013).... i'll probably just work on getting these deleted sooner........ my gf also thinks I don't need a lot of credit cards... two or three should be enough but it's true that it's hard not to apply when everyone else is gettin approved.. Smiley Sad... my new years resolution, i'll try to stay in the garden for 3 months, then 6, then 1 yr and then 2!!!!.. we shall see...


Starting Score: MYFICO 12/30/15 -TU: 481, EQ:561, EX:532 - BK7 DISCHARGED 12/2015 - Current: 09/01/2016 TU:642 EQ: 651 EX: 646
NFCU cashRewards:$6200 QS:$1500 Merrick:$1200 Cabelas:$1000 SonyVisa: $500 JCrew:$850 Overstock:$850 Express: $1050 PaypalCredit:$2150 NAVCHECK:$10K
Message 11 of 14
Mega Contributor

Re: Too many apps


webhopper wrote:
Inactivity is sometimes the hardest thing to accomplish. Feel free to join the garden club for some anti itch cream. At this point you already know that apping is counterproductive to your real goals.... the next step is to try to change your behavior to one of strategy instead of impulse. Good luck and I hope to see you in the garden!

I agree some time in the garden and reading others experiences can help alot!!!

 

Now if only it can stick on me!!! Smiley Very Happy

 




EQ FICO 548 3/3/16
Message 12 of 14
Valued Contributor

Re: Too many apps


kobe2012 wrote:

How do you guys do it??? i had no credit for 6 yrs cause i ruined my credit then, i didnt care until i almost all the negs starting fallin off... Got approed for a few cards finally and now its so hard to stop applying


If you can come to the realization of exactly how badly it's hurting you're chances for meaningful credit when you really need it, you'll be OK after a couple years provided you don't ruin it again in the meantime - like you (admittedly) did in the past.  You have to have a fundamental shift in thinking from short term gratification to long term planning. Thinking along the lines of what you hope to accomplish in the next 3, 5, or 10 years and how having stellar credit will help your life goals and cost you a LOT less in higher interest payments for the big things in life.  Is that next credit card with a $500 limit and an outrageous APR really going to help you get a new car loan, or a mortgage, or lower insurance rates (to name a few)?  If not, and you can look to a plan of what you want to do in the future, it should be an easy decision about that next new card or application that won't really accomplish anything except give you a rush if you're approved, and shame if you're not.  

   

 

EQ Fico 8 - 846
TU Fico 8 - 848
EX Fico 8 - 836
Message 13 of 14
Established Contributor

Re: Too many apps


webhopper wrote:

kobe2012 wrote:

How do you guys do it??? i had no credit for 6 yrs cause i ruined my credit then, i didnt care until i almost all the negs starting fallin off... Got approed for a few cards finally and now its so hard to stop applying


 

The way I stopped was with a reality check from my dear hubby. I was asking him about applying for a business amex and he looked at me and said; "honey you have one credit card with a 20 thousand dollar limit; and one with no pre set limit.... what in the world do you need more for?" At that point I was done with cards. Thanks to my husband who is my rock and keeps me grounded in reality.

besides saving 5 to 6.25% on things are very nice =)  

 

BCP and US Bank Cash+ compliments any wallet or any person who doesn't make 20million a year with a private butler and cook =) 

also having more credit creates a Cushion for your Fico softening your credit to debt ratio, but yea if your happy your happy =)

 

Only card I want now, is US Bank Cash+ and if i start traveling more Amex Platinum, and if I become rich JP Morgan Palladium card lol, just cause it's like a rolls royce in my wallet lol I think it'd look nice in my LV wallet lol.


total credit limits $108,400 Credit scores Ex 728 EQ 738 TU 758
Message 14 of 14