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Valued Contributor
discernment
Posts: 1,142
Registered: ‎09-01-2011

Re: Why do people apply in sprees?


etothejomegan wrote:

as opposed to getting the ones they truly want? Is there any benefit with either method?


Why would anyone apply for cards that they DON'T want?  That doesn't make any sense to me. 

 

My husband and I did our app spree on June 1st for the cards we wanted.  Using the same logic as others have previously stated, we wanted all the inquiries to go away at the same time and, to let everything age together. 

 



Husband's Current Score: EX 691 CUSC; EQ 694; TU 687; Mine: EX 773 (AMEX); EQ 720; TU 750
Wallet Contents: SECURED: Capital One Platinum Mastercard, US Bank Harley Davidson Visa, USAA Bank American Express;
UNSECURED: Chase Freedom; USAA Cash Rewards World Mastercard, Discover More, CUSC Platinum Rewards Visa, American Express Zinc, American Express Blue Cash Preferred, Amazon Card, Walmart Discover Card
Senior Contributor
drkaje
Posts: 3,482
Registered: ‎07-25-2008

Re: Why do people apply in sprees?


Repo-ed wrote:

etothejomegan wrote:

as opposed to getting the ones they truly want? Is there any benefit with either method?


Whose to say they are not doing the app spree for all the cards they truly want?


Can you really want 20 cards?

 

Some are addicted to credit.


Starting Score: 675
Current Score: EX ? FICO, EQ 708 FICO
Goal Score: 776 FICO


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Valued Member
etothejomegan
Posts: 50
Registered: ‎06-25-2011

Re: Why do people apply in sprees?

I meant the ones they wanted the most. People can't possibly view all 6 cards they apply as equally important.

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FrugalRican
Posts: 2,876
Registered: ‎02-02-2012

Re: Why do people apply in sprees?


discernment wrote:

etothejomegan wrote:

as opposed to getting the ones they truly want? Is there any benefit with either method?


Why would anyone apply for cards that they DON'T want?  That doesn't make any sense to me. 

 

My husband and I did our app spree on June 1st for the cards we wanted.  Using the same logic as others have previously stated, we wanted all the inquiries to go away at the same time and, to let everything age together. 

 


Come on now, you've been on these forums long enough to have seen the droves of people with "I apped for 26 cards, got approved for 21."... only to have a post about a month later "How does closing 15 of these cards affect me?"

 

It happens all the time. People app just to app a LOT sometimes.

 

Sometimes I have to wonder myself what goes through someone's mind as they app for store cards they'll probably use only once, if even that. I can understand from a building of credit, but does one person really need 15 different store cards to go along with their First Premier, Orchard, and Capital One cards?

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EQ FICO (01/16/2012): 656 - EQ FICO (02/16/2012): 743 - EQ (02/24/2012): 760 - EX (04/28/2012): 739 - GOAL 2013: 800+

AMEX BCE (0/10K) --- BOA 1-2-3 (0/15.9K) --- Discover More (0/6K) --- Chase Freedom Visa (0/1.4K) -- Hyatt Visa Sign. (0/5.8K) -- Barclay's NFL Card (0/7.5K) -- Chase Sapphire Preferred (0/5K)

Super Contributor
CS800
Posts: 6,547
Registered: ‎04-07-2008

Re: Why do people apply in sprees?

As many have said, I use the same logic.

 

- Get the cards I want

- Inqs fall off at the same time.

 

From my 1st and 2nd sprees, in early 2014 I should have no inqs on any of my credit report unless something comes up.




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Valued Contributor
DaveSignal
Posts: 1,983
Registered: ‎07-29-2011

Re: Why do people apply in sprees?


drkaje wrote:

Repo-ed wrote:

etothejomegan wrote:

as opposed to getting the ones they truly want? Is there any benefit with either method?


Whose to say they are not doing the app spree for all the cards they truly want?


Can you really want 20 cards?

 

Some are addicted to credit.


An app spree doesn't have to be 20 card applications.  My recent spree involved three cards.  I got a CLI on one, second was a chip-and-signature card, third was a chip-and-pin card....   all of which I really truly wanted.

EQ:701 TU:745 EX:694
Barclays Arrival $6.5k - BoA Travel Rewards $15k - SDFCU EMV $15k - NFCU goRewards $20k - CSP $5k - Amex ED $19.5k
Regular Contributor
sybo40
Posts: 105
Registered: ‎11-12-2010

Re: Why do people apply in sprees?

Aha!  So, the score is the score until reporting hits, right?


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Senior Contributor
Open123
Posts: 3,934
Registered: ‎02-23-2011

Re: Why do people apply in sprees?


discernment wrote:
Why would anyone apply for cards that they DON'T want?  That doesn't make any sense to me. 

 


For a signing bonus?

 

For example, one many not be a big fan of Cit's Thank you Program, but the Premier with 50k sign up bonus is nice.

Contributor
A_Madel
Posts: 92
Registered: ‎06-16-2012

Re: Why do people apply in sprees?


Repo-ed wrote:

etothejomegan wrote:

as opposed to getting the ones they truly want? Is there any benefit with either method?


Whose to say they are not doing the app spree for all the cards they truly want?


+1

Current: EQ 791 / TU 788 / EX 752 FICO's (MyFico, Oct 2012)

*** NFCU Plat | USAA CR Amex | PenFed TR Amex | BOA Gold | JP Morgan Select | Amex BCP | Amex PRG | USAA Plat ***
Contributor
SoCalBound
Posts: 96
Registered: ‎06-24-2012

Re: Why do people apply in sprees?

My app spree was with my credit goals in mind:

 

1 of each merchant card. An Amex revolver and charge and with complimenting rewards structures.

 

With this, I should never get stuck by not having an appropriate merchant card, and in places where all merchants are accepted, I have alot of purchasing catagories covered by rewards.  I also got 0% financing options in case in the next 15 months the situation is needed.

 

Also two of the cards I got are good with CLI, which will benefit the other cards in regards to getting increases.

 

My new cards will now age together rebuilding my AAoA and when I apply for my last 2 cards in a year or two my AAoA will be affected less.

Zync NPSL, BCP ($2000), Chase United ($2000) Chase Amazon ($1500), Chase Freedom ($3000), Discover More ($2000), Paypal Extras ($5000), Citi Forward ($2000), Orchard $2000, Amazon ($5000)
Pre-App Scores: TU98 779, TU04 797, EQ 682, EX 788 (Amex) 8/12

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