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Frequent Contributor
Pat94108
Posts: 353
Registered: ‎03-23-2013
0

Re: When Did You Finally Stop Chasing Credit Approval?

I've had all types of credit cards in the past, e.g. Amex Blue (Cash, Sky), Discover It among others but I all closed them all and only have Quicksilver and Amex Green now.  I perfectly content with that so no longer seeking credit. I probably would only keep the Amex if it was accepted in as many places as Visa/MC.

Member
daisiduk1
Posts: 8
Registered: ‎09-23-2013
0

Re: When Did You Finally Stop Chasing Credit Approval?

I am stopping now....

 

I recently received the Discover IT Student card ($500) which is my first annual fee free rewards credit card outside of store cards.... I also have Capital One Platnium ($1,500) but no rewards...

 

I have so many store cards...too many... I paid them all to $0 because I could not keep track at one point...

 

I have some credit builder cards with high annual fees that I'm going to close... all the balances are $0 (first premier, credit one bank, former HSBC)

 

I want American Express and have been denied several times....I have too many inquiries and I need to get my score up some more...

 

I'm going to garden for a long while so my score can go up and inquiries can fall off and then I'm gong to app again for American Express...

 

I'm confident with my credit for the first time since I was 18...I screwed my credit up out of highschool and it took until now (i'm 35)to have a semi-decent score of 658..

 

This is my first post on this site but I lurk everyday and love the great knowledge available on here...

 

 

 

Community Leader
Valued Contributor
azguy13
Posts: 5,381
Registered: ‎04-30-2013
0

Re: When Did You Finally Stop Chasing Credit Approval?


daisiduk1 wrote:

I am stopping now....

 

I recently received the Discover IT Student card ($500) which is my first annual fee free rewards credit card outside of store cards.... I also have Capital One Platnium ($1,500) but no rewards...

 

I have so many store cards...too many... I paid them all to $0 because I could not keep track at one point...

 

I have some credit builder cards with high annual fees that I'm going to close... all the balances are $0 (first premier, credit one bank, former HSBC)

 

I want American Express and have been denied several times....I have too many inquiries and I need to get my score up some more...

 

I'm going to garden for a long while so my score can go up and inquiries can fall off and then I'm gong to app again for American Express...

 

I'm confident with my credit for the first time since I was 18...I screwed my credit up out of highschool and it took until now (i'm 35)to have a semi-decent score of 658..

 

This is my first post on this site but I lurk everyday and love the great knowledge available on here...

 

 

 


Welcome!!




NFCU Flagship $25,000 I AMEX SPG $23,000 I Chase Sapphire Preferred $17,500 I Discover IT $12,000 I
Established Contributor
Changingmantra
Posts: 676
Registered: ‎01-24-2008
0

Re: When Did You Finally Stop Chasing Credit Approval?

[ Edited ]

Pat94108 wrote:

I've had all types of credit cards in the past, e.g. Amex Blue (Cash, Sky), Discover It among others but I all closed them all and only have Quicksilver and Amex Green now.  I perfectly content with that so no longer seeking credit. I probably would only keep the Amex if it was accepted in as many places as Visa/MC.


When I started rebuilding - I had as many cards as HSBC ( 1 Disc. and 3-4 small limit MC) and Cap 1 (one Visa one MC) would allow.  Then of course there were all the GEMB cards  that were great for helping to rebuild.  I had Lowes (never go into the store), Chevron (I have yet to see one since moving here nearly 20 years ago) 2 Walmart Cards (still can't explain how that happened), JCP - Amazon - PayPal.... Then Target - was not worth the 5 mile drive to the store for the prices.  I had no reason to use the thing.

 

Then I became fed up with HSBC and Cap1 (no growth and little growth respectfully) and with trying to manage all of these accounts.  I actually had grand ole time about a year and a half ago closing accounts!   I posted about it here, and there were some who were critical of my decision - all of that AAoA  and utilization stuff.  I get that, but I just could not justify having these accounts, especially since I could not keep up with them.  All accounts I was no using, no matter the limit or age, I closed, including every single one of the above bank cards.  And it certainly felt GREAT!  To be honest, they all helped me rebuild, but I felt once they did what I needed them to do - and when they seemed more like a burden than anything - it was OK to cut them all loose!

 

The store cards I currently I have:

 

Amazon - which I use regularly because I act like I have some serious stock in Amazon. I mean, I do MOST of non-food (except cat food) shopping on Amazon -

Walmart - Shop at regularly -

JCP -  I might use it once - twice a year

Firestone -  I can't stand having to use it, but it certainly is nice to have 0% interest for 6 months.   And where I live, the weather is ROUGH on tires!

PayPal Smart Connect - I do a lot of online shopping and I feel much better paying with PayPal than with my bank cards outright.

 

There was a time when I wanted a Best Buy card, once again, only trying to relive my old credit glory.   But then I thought, "I get 5% casback buy going through Shop Discover - extended warranty - AND - I can use my casback bonuses on my favorite online store...... Amazon.  Additionally, I get to put some good milage and great payment history on a fantastic card...:smileyvery-happy:  Oh the joy!"  Have not thought about a BB card since!

 

Now to get CSP and Amex off my mind!:smileymad:

 

*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!
Regular Contributor
Guyatthebeach
Posts: 212
Registered: ‎09-04-2012
0

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?

I stopped chasing credit cards when I was approved for a Visa at 8.9%fixed. I settled down with credit cards because I realized I PIF and never carry a balance. I get 1.5% back and all my cards have no annual fee. Why go looking for more cards to track???

 

 

and 2. Started receiving pre-approval offers for prime cards? Nope, opted out!

Established Contributor
Changingmantra
Posts: 676
Registered: ‎01-24-2008
0

Re: When Did You Finally Stop Chasing Credit Approval?

[ Edited ]

Guyatthebeach 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?

I stopped chasing credit cards when I was approved for a Visa at 8.9%fixed. I settled down with credit cards because I realized I PIF and never carry a balance. I get 1.5% back and all my cards have no annual fee. Why go looking for more cards to track???

 

 

and 2. Started receiving pre-approval offers for prime cards? Nope, opted out!


Yeah - what I need to focus on now is  optimizing the cards I have, which all have high APRs.  I think both Barclays and Discover are at 24.99% -  I was very happy when my Cit iT Simplicity came with a 17% APR after 18 months at zero.  My CU Visa came with an 8 and then 13% APR after 6 months.  To curve my itch to apply for cards I cannot get - or even need - I have been working the ones that I have - In addition to requesting - and getting temporary APR reductions - I scored some nice CLI on my GE cards last week -$500, $1000, and $2100 increases. 

 

*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!
Contributor
GOldfishes
Posts: 103
Registered: ‎06-25-2013
0

Re: When Did You Finally Stop Chasing Credit Approval?

I have enough cards to fill my wallet two times over. I'm 22 but I've never been denied for a card, and the cards I do hold are all prime. I really don't see any reason to get more cards. While getting instant approvals is kind of fun, it's not fun constantly rearranging my wallet to mix up spending between cards. 

 

Also, no more business cards for this guy, unless I start a real business. I avoid using my Business Gold Rewards card because every time I do use it people question me about why I have a business card and explaining it has gotten old. 

 

I will only apply for my card in the future if I am planning a trip and need a solid sign up bonus. I will at some point add a Citi card just to further diversify the issuers my cards come from.

Experian: 734 Equifax: 765 Transunion:776

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Chase Sapphire Preferred($6500)|Amex PRG ($NPSL)|Amex SPG($6000)|Amex Business Gold Rewards($NPSL)|Amex BCE ($10,200)|Citi AA Exec ($10,500)|

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