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azguy13
Posts: 5,381
Registered: ‎04-30-2013
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Re: When Did You Finally Stop Chasing Credit Approval?

It took me 5 years to recover from my youthful indiscretions but now I am well on my way.




NFCU Flagship $25,000 I AMEX SPG $23,000 I Chase Sapphire Preferred $17,500 I Discover IT $12,000 I
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Changingmantra
Posts: 676
Registered: ‎01-24-2008
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Re: When Did You Finally Stop Chasing Credit Approval?


DBB wrote:

For those of you who have moved clearly into the prime world, how long did it take before you:

1. Settled down with the credit cards you have and stopped chasing after credit 

My senior year in college when I actually took an interest in learning about credit.  PC'd BOA Student Platinum Plus to Privileges Cash Rewards and applied for the AMEX Platinum. These are the only two personal cards I ever see myself having, unless I can replace the Platinum with a Centurion one day. 

 

2. Started receiving pre-approval offers for prime cards?

 Roughly after a year of credit history. 


That is fantastic!   How long has it been since you graduated?  When I was a senior in college - A LONG time ago - I had a pocket-full of credit and had no idea what the heck that meant.  I do remember someone telling me, "Be careful not to get into trouble with all of that credit!"   I thought it was a very odd thing to say, but......

 

 

*Note to self* Remember why and for how long you had to rebuild in the first place! One Day at a Time, One Day at a Time!
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longtimelurker
Posts: 7,323
Registered: ‎04-22-2013
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Re: When Did You Finally Stop Chasing Credit Approval?

Maybe it's because I have a problem, but it seems to me a matter of degree, i.e. it makes sense to from "time to time" check to see what is out there, the degree being whether you check daily, monthly, yearly or less often.   

 

So if you have a hobby collecting 17th century blue Flemish glassware (as I'm sure most of us do!) and suddenly FlemBank comes out with a card offering 10% cashback on 17th century dark blue Flemish glassware purchases, it would be worth knowing, no matter how happy you are with your current cards.

CSP, Freedom, Chase Amazon, Cap One QS (x2), Penfed Plat Rewards (x2), Citi Double Cash, Citi Dividend, Citi AA Plat Select, Citi Forward, Amex BCE, Amalgamated Bank, Sallie Mae, Cash Plus, Fid Amex, NASA Plat Cash
Scores May 14: EQ 848, EX 833, TU 848 (Sep)
Established Contributor
Changingmantra
Posts: 676
Registered: ‎01-24-2008
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Re: When Did You Finally Stop Chasing Credit Approval?

[ Edited ]

azguy13 wrote:

It took me 5 years to recover from my youthful indiscretions but now I am well on my way.



It has taken me  14 years of pure hell through a nasty gambling problem to get my credit where it is now.  

 

After BK in 2003, I really had no idea one could rebuild their credit, this is why it took 5 years for me to even start.  A string of coincidences landed me on myfico -  I got an offer to apply for a Discover card - which really blew my mind.  I mean, DISCOVER?  I wasn't going to bother, but felt I had nothing to loose.  I was absolutely floored when  I was approved for the HSBC Discover -   I was like, "What the heck is an HSBC Discover?"  I Googled it, and found several links here; began learning and rebuilding.

 

Before then, I had the bottom feeder cards: Providen - Aspire (which is still causing me headaches 9 years later) - Orchard, which I was constantly offered.  Now, I had an HSBC card  and learned about apping for more - so then got Cap 1 - and that started the rocky rebuilding.  I knew more about credit, but fact remained, I still had a viscous gambling problem.   Even though I put gambling money on those cards, I was adamant about taking care of my rebuilding credit.  My goodness - I NEVER want to go through credit rebuilding AGAIN - I went from BB telling me to set my own CL when I was 25 to being denied for Walmart cards when I was 32 - and I was in a state of mass confusion and financial ignorance the whole time.

 

I never say I do not gamble any more - I simply do not gamble like I used to and I am very careful about putting money on my cards.  In fact, this past summer was the first time I did so in about  3 years, and it scared the heck out of me, so I had to back off the casinos, and I quickly paid of my gambling debt because I could not stand to see it on my credit cards, defiling what I am working so hard to  build.  

 

When I am  over here obsessing about a new credit card - I seriously have to look at what is going on - This unhealthy need to have MORE MORE MORE - is akin to my gambling habit.  And just like with the gambling, although I know I do not need more, and going after more is not good for me, I can get caught up in the excitement of watching people here going after / getting more.  It takes a few days or sometimes weeks for me to come out of the storm of excitement - really understand what is going on - set my mind and emotions right and  see how absurd I am being; and also admit that there is a great danger brewing here: exchanging one addiction for another.

 

And for me at least, I have to always ask myself "What is going on in your life that you are not facing that you are numbing out behind credit card fascination?"   What is the need for "approval?"  "What  does "approval" mean to you?" And usually, there is something there, the same something that would often send me running of to a casino.  Once I get that under control, things are good.  Ironically, it helps to stay away from these forums, this is why I am gone for months at a time.

 

I have not been perfect in rebuilding - but I have met my goals.  I have Discover back as of 9/11 and Citi as of 7/13.   Citi was hard as hell to get back in with.  I got the Discover with the BK still showing and I included both in it.   Much less a goal, but more of a desire, I would like CC companies other than the likes of Cap 1 offering me rebuilder cards, to once again start sending me prime offers.   I have been very good about ripping up the one's I currently receive. The obsessed addict in me has convinced myself that I need Chase's and Amex's "approval," banks I never thought about even when I had excellent credit 20 years ago, and had no interest in when I started rebuilding. Funny, eh?  I guess THEIR approval will - along with Discover and Citi - symbolize to me my finally having gotten out of credit purgatory, an accomplishment that 10-8 years ago really did seem impossible to me!

 

Truly, I do NOT want a pocket-full of credit and I am not going backward with my credit, not with the gambling and not to sub-prime.   Now, the thing is to simply calm down and let my new and relatively new prime cards work for me - not get all caught up in the app hype!   

*Note to self* Remember why and for how long you had to rebuild in the first place! One Day at a Time, One Day at a Time!
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tld409
Posts: 220
Registered: ‎03-21-2012
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Re: When Did You Finally Stop Chasing Credit Approval?


Changingmantra wrote:

 

For those of you who have moved clearly into the prime world, how long did it take before you: 1. Settled down with the credit cards you have and stopped chasing after credit and 2. Started receiving pre-approval offers for prime cards?


1. I finally fill that I have no need to seek additional credit at this point. I started rebuilding process last year (February 2012). My first rebuilder card was a Capone Platinum MC. I was approved with an initial limit of 250.00. It was during that time that I began reading MYFICO and absorbing all of the information about rebuilding. I applied for a JCP card about 1 month later and was approved with a 700 dollar limit.

 

2. I started receiving offers from Amex for the green card and Discover More card on a weekly basis in July 2012.  These offers started right after I applied for the subprime First Savings CC that I received in the mail in June 2012. The First Saving CC offer indicated that I could get up to 1500. I was approved for an initial limit of 300 dollars.  I didn't actually apply for the Amex and Discover until September 2012. I was surprised that I was approved for both. The Discover More limit was 700 with a 3% APR for 18 months.  My next official offer that came in the mail was from Citi Bank for the Simplicity card in January 2013.  This came right after I signed up for the MYFICO scorewatch. Again I was surprised that I was approved at all let alone for a limit of 4800 and 0% APR.  Prior to Citi, I went on line and applied for the Walmart card in October of 2012 and was approved for 700 dollars.

Starting Score 630 Current:EX:706(09/01/14); EQ08: 747(10/10/14);TU:748 (10/13/14):Goal Score: 750 across the board
Sallie Mae World MC 5k; Chase Freedom 3.5k; CareCredit 13.2k; Amex BCP 10.3K; Amex BCE 12K; Amex PRG; BOA123 Visa Sig 20k; CapOne WMC 7.5K; CSP Visa Sig 5K; Slate Visa 3k; Citi Simp Visa 6.9k; CFCU Visa 15k; Discover IT 4K; JCP MC 8K; Macys Amex 7.5K/2k; PSECU Visa/PSL 20/20K; SamsClub MC 20k; Walmart 10k;
Valued Contributor
takeshi74
Posts: 2,847
Registered: ‎06-05-2013
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Re: When Did You Finally Stop Chasing Credit Approval?

[ Edited ]

Changingmantra wrote:

 

For those of you who have moved clearly into the prime world, how long did it take before you: 1. Settled down with the credit cards you have and stopped chasing after credit and 2. Started receiving pre-approval offers for prime cards?


I'm not sure I ever obsessively pursued things so I settled down immediately.  Still not receiving any preapprovals but I've disabled all marketing wherever possible.  I don't need the marketing departments of credit card companies to tell me what to get.  I'll do my own research and app only for what I need/want.

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azguy13
Posts: 5,381
Registered: ‎04-30-2013
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Re: When Did You Finally Stop Chasing Credit Approval?


Changingmantra wrote:

azguy13 wrote:

It took me 5 years to recover from my youthful indiscretions but now I am well on my way.



It has taken me  14 years of pure hell through a nasty gambling problem to get my credit where it is now.  

 

After BK in 2003, I really had no idea one could rebuild their credit, this is why it took 5 years for me to even start.  A string of coincidences landed me on myfico -  I got an offer to apply for a Discover card - which really blew my mind.  I mean, DISCOVER?  I wasn't going to bother, but felt I had nothing to loose.  I was absolutely floored when  I was approved for the HSBC Discover -   I was like, "What the heck is an HSBC Discover?"  I Googled it, and found several links here; began learning and rebuilding.

 

Before then, I had the bottom feeder cards: Providen - Aspire (which is still causing me headaches 9 years later) - Orchard, which I was constantly offered.  Now, I had an HSBC card  and learned about apping for more - so then got Cap 1 - and that started the rocky rebuilding.  I knew more about credit, but fact remained, I still had a viscous gambling problem.   Even though I put gambling money on those cards, I was adamant about taking care of my rebuilding credit.  My goodness - I NEVER want to go through credit rebuilding AGAIN - I went from BB telling me to set my own CL when I was 25 to being denied for Walmart cards when I was 32 - and I was in a state of mass confusion and financial ignorance the whole time.

 

I never say I do not gamble any more - I simply do not gamble like I used to and I am very careful about putting money on my cards.  In fact, this past summer was the first time I did so in about  3 years, and it scared the heck out of me, so I had to back off the casinos, and I quickly paid of my gambling debt because I could not stand to see it on my credit cards, defiling what I am working so hard to  build.  

 

When I am  over here obsessing about a new credit card - I seriously have to look at what is going on - This unhealthy need to have MORE MORE MORE - is akin to my gambling habit.  And just like with the gambling, although I know I do not need more, and going after more is not good for me, I can get caught up in the excitement of watching people here going after / getting more.  It takes a few days or sometimes weeks for me to come out of the storm of excitement - really understand what is going on - set my mind and emotions right and accept see how absurd I am being - and also admit that there is a great danger brewing here: exchanging one addiction for another.

 

And for me at least, I have to always ask myself "What is going on in your life that you are not facing that you are numbing out behind credit card fascination?"   What is the need for "approval."  What  does "approval" mean to you.  And usually, there is something there, the same something that would usually send me running of to a casino.  Once I get that under control, things are good.  Ironically, it helps to stay away from these forums, this is why I am gone for months at a time.

 

I have not been perfect in rebuilding - but I have met my goals.  I have Discover back as of 9/11 and Citi as of 7/13.   Citi was hard as hell to get back in with.  I got the Discover with the BK still showing and I included both in it.   Much less a goal, but more of a desire, I would like CC companies other than the likes of Cap 1 offering me rebuilder cards, to once again start sending me prime offers.   I have been very good about ripping up the one's I get.  The obsessed addict in me has convinced myself that I need Chase's and Amex's "approval," banks I never thought about even when I had excellent credit 20 years ago, and had not interest in when I started rebuilding. Funny, eh?  I guess THEIR approval will - along with Discover and Citi - will symbolize for me my finally having gotten out of credit purgatory, an accomplishment that 10-8 years ago really did seem impossible to me!

 

Truly, I do NOT want a pocket-full of credit and I am not going backward with my credit, not with the gambling and not to sub-prime.   Now, the thing is to simply calm down and let my new and relatively new prime cards work for me - not get all caught up in the app hype!   


First of all, congrats on being able to get away from that previous life. I am glad to hear you are fighting through it and using your head when it comes to your finances. I can not imagine how hard something like that could be to overcome. 

 

I also do not like to get caught up in the app spree. Honestly, I would not have all my cards I have right now if I would have app'd for NFCU first. My main reasoning for wanting cards is for the rewards and extra protection with warranties. Honestly, I would close some cards right now if I didn't care about my AAoA in 10 years.

 

I started rebuiding with a score in the mid 500s. I have to admit, I still love to see the word "approved." However, whenever I get the itch I go onto freecreditreport and look at my AAoA. That puts me back into reality. I personally do not understand when people have numerous cards with rewards that virtually mirror each other. For example, I saw a siggy the other day and counted 19 cards. Now, I am not judging someone who has that many, I just do not understand it. Plus, when people go on app sprees, there is no way that they will get ALL the signon bonuses because there is no need to spend money for no reason to get the said bonus. 

 

When I first told myself I would no longer app, it was extremely hard to come onto this forum and see all the posts about being approved for the cards I want. However, I make sure to have the Garden Club thread open at all times so when I get the itch, they help me out in there. I know they cannot physically stop me, but it is a ncie support structure and I have become actual friends with many of the people in there. I do not want to let them down. 

 

I have noticed it has gotten to the point where people apply for cards just because of their looks. It is kind of like a status symbol I guess. I remember reading one post in the last few weeks of someone wanting the Chase Ritz card just because of what it is made out of. That does not make sense to me at all. Why pay a $395 AF for a card that is heavier than the others for a hotel you will rarely, if ever, stay at? That is just that one particular situation, but it proves my point of people app'ing for cards for all the wring reasons. 

 

I am glad you have bounced back from your previous mistakes! Keep it up!




NFCU Flagship $25,000 I AMEX SPG $23,000 I Chase Sapphire Preferred $17,500 I Discover IT $12,000 I
Valued Contributor
thom02099
Posts: 1,326
Registered: ‎08-30-2011
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Re: When Did You Finally Stop Chasing Credit Approval?

 

For those of you who have moved clearly into the prime world, how long did it take before you:

 

1. Settled down with the credit cards you have and stopped chasing after credit and

 

2. Started receiving pre-approval offers for prime cards?


1 = When I entered the Garden back in February:smileyhappy:

 

2 = Never received any unsolicited, since I'm on the "opt out" list.

 

I think it all comes down to "when is enough, enough?"  Once you break $100K in CL, do you really REALLY need more?    Once you get above that mythical 800 score, can you ever be satisfied?  What to do if you drop BELOW that 800 figure? (GASP!!!!  :smileysurprised:)

 

At some point, we can all get "caught up" in the continual need for more.  Then credit building becomes a competitive sport, and at THAT point, it can become dangerous.  Dangerous in that, we try to "keep up with the Joneses", and outdo others that post their successes.  It's an adrenaline rush, to get that new approval, to see that new card out there.  I know.  Been there/done that/won the t-shirt.  And for whatever illogical reasoning, I'm lusting after a Capital One Quicksilver card.  Must.Resist.Temptation !!!

AMEX Gold NPSL / AMEX Zync NPSL / AMEX Blue Cash Preferred $14K / Bank of America Cash Rewards Signature Visa $15K / Merrill Lynch Plus Signature Visa $15K / Wells Fargo Propel 365 $15K / Chase Sapphire Preferred Signature Visa $10K / J P Morgan Select Signature Visa $10K / Chase Slate Visa $6K / CITI Diamond Preferred MasterCard $13.2K / Discover IT $10.5K / IberiaBank Select Visa $8K / 1st Command Bank Platinum Visa $7.5K // Home Depot $9.7K / Lowes $10K

EX = 768 EQ = 828 TU = 834 - June/2014
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Valued Contributor
azguy13
Posts: 5,381
Registered: ‎04-30-2013
0

Re: When Did You Finally Stop Chasing Credit Approval?


thom02099 wrote:

 

For those of you who have moved clearly into the prime world, how long did it take before you:

 

1. Settled down with the credit cards you have and stopped chasing after credit and

 

2. Started receiving pre-approval offers for prime cards?


1 = When I entered the Garden back in February:smileyhappy:

 

2 = Never received any unsolicited, since I'm on the "opt out" list.

 

I think it all comes down to "when is enough, enough?"  Once you break $100K in CL, do you really REALLY need more?    Once you get above that mythical 800 score, can you ever be satisfied?  What to do if you drop BELOW that 800 figure? (GASP!!!!  :smileysurprised:)

 

At some point, we can all get "caught up" in the continual need for more.  Then credit building becomes a competitive sport, and at THAT point, it can become dangerous.  Dangerous in that, we try to "keep up with the Joneses", and outdo others that post their successes.  It's an adrenaline rush, to get that new approval, to see that new card out there.  I know.  Been there/done that/won the t-shirt.  And for whatever illogical reasoning, I'm lusting after a Capital One Quicksilver card.  Must.Resist.Temptation !!!


I agree with you completely about "keeping up with the Jones's." People can't have what you dont have so you must go get it. 

 

BTW, I am watching you now that I know you are lusting over the Cap1 QS.... Don't make me issue out an ERT Alert :smileyvery-happy:




NFCU Flagship $25,000 I AMEX SPG $23,000 I Chase Sapphire Preferred $17,500 I Discover IT $12,000 I
Valued Contributor
thom02099
Posts: 1,326
Registered: ‎08-30-2011
0

Re: When Did You Finally Stop Chasing Credit Approval?


azguy13 wrote:

thom02099 wrote:

 

For those of you who have moved clearly into the prime world, how long did it take before you:

 

1. Settled down with the credit cards you have and stopped chasing after credit and

 

2. Started receiving pre-approval offers for prime cards?


1 = When I entered the Garden back in February:smileyhappy:

 

2 = Never received any unsolicited, since I'm on the "opt out" list.

 

I think it all comes down to "when is enough, enough?"  Once you break $100K in CL, do you really REALLY need more?    Once you get above that mythical 800 score, can you ever be satisfied?  What to do if you drop BELOW that 800 figure? (GASP!!!!  :smileysurprised:)

 

At some point, we can all get "caught up" in the continual need for more.  Then credit building becomes a competitive sport, and at THAT point, it can become dangerous.  Dangerous in that, we try to "keep up with the Joneses", and outdo others that post their successes.  It's an adrenaline rush, to get that new approval, to see that new card out there.  I know.  Been there/done that/won the t-shirt.  And for whatever illogical reasoning, I'm lusting after a Capital One Quicksilver card.  Must.Resist.Temptation !!!


I agree with you completely about "keeping up with the Jones's." People can't have what you dont have so you must go get it. 

 

BTW, I am watching you now that I know you are lusting over the Cap1 QS.... Don't make me issue out an ERT Alert :smileyvery-happy:



LOL, thanks for watching my back ! !  

 

Yeah, I get the urge periodically, but then I open my wallet, look at what I have and ask myself "do you really NEED that Quicksilver"?  Answer is always NO!

AMEX Gold NPSL / AMEX Zync NPSL / AMEX Blue Cash Preferred $14K / Bank of America Cash Rewards Signature Visa $15K / Merrill Lynch Plus Signature Visa $15K / Wells Fargo Propel 365 $15K / Chase Sapphire Preferred Signature Visa $10K / J P Morgan Select Signature Visa $10K / Chase Slate Visa $6K / CITI Diamond Preferred MasterCard $13.2K / Discover IT $10.5K / IberiaBank Select Visa $8K / 1st Command Bank Platinum Visa $7.5K // Home Depot $9.7K / Lowes $10K

EX = 768 EQ = 828 TU = 834 - June/2014

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