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addicted to applying for cc's?

Contributor

Re: addicted to applying for cc's?


nicefa wrote:

I have to say, I think I am also addicted. For a long time I only had  a few cards but then when my scores recently went up and not even that high I wanted to see if I could qualify for a new card. So... on saturday I tried the shopping card trick (which I learned by reading this forum- Thanks Myfico!) I applied for Victoria Secret($750) and Express (no limit stated) and was instantly approved. I loved the feeling, so I tried some more Walmart($1000) and Lowe's ($650) ) instant approvals! So on sunday... Chase ($1800) and Targets($500). So I told myself to stop. Then monday morning I saw someone ask about the paypal MC and I thought (hey, i have a paypal acct) so Iogged in and applied! I got the number to call so I figure finally... a rejection but no, it was to confirm ID. I was approved for $2000. So I got to work and called my credit union and asked for a credit limit increase (I had a $500 visa) they approved for $2000... I know these limits are low to some but they are high to me. Long story short, I know I have a problem but...I am just so happy to be approved lol


jesus,lol,talk about a spree hahaha,man you were on a roll....whats next on the list?

Message 21 of 46
Contributor

Re: addicted to applying for cc's?


dodfire wrote:

nicefa wrote:

I have to say, I think I am also addicted. For a long time I only had  a few cards but then when my scores recently went up and not even that high I wanted to see if I could qualify for a new card. So... on saturday I tried the shopping card trick (which I learned by reading this forum- Thanks Myfico!) I applied for Victoria Secret($750) and Express (no limit stated) and was instantly approved. I loved the feeling, so I tried some more Walmart($1000) and Lowe's ($650) ) instant approvals! So on sunday... Chase ($1800) and Targets($500). So I told myself to stop. Then monday morning I saw someone ask about the paypal MC and I thought (hey, i have a paypal acct) so Iogged in and applied! I got the number to call so I figure finally... a rejection but no, it was to confirm ID. I was approved for $2000. So I got to work and called my credit union and asked for a credit limit increase (I had a $500 visa) they approved for $2000... I know these limits are low to some but they are high to me. Long story short, I know I have a problem but...I am just so happy to be approved lol


STOP!!!! STOP NOW!!! 

Congrats on your approvals but you are KILLING your score!!! Smiley Happy


i know before i started my little spree i was at 768,now after all my new accounts im at 730......soooo ya,that may be a true statement.

Message 22 of 46
Contributor

Re: addicted to applying for cc's?


flowfaster wrote:

I see you don't yet have the US Bank CASH+.... Mwahahaha

 


lol,brief me on it,maybe ill check it out.

Message 23 of 46
Valued Contributor

Re: addicted to applying for cc's?


mojobones89 wrote:

i have noticed that when i have free time and nothing to do at home,i end up getting on this forum and see new posts,reading peoples approvals and success stories i end up getting  the urge to find a new cc to apply for,EVEN THOUGH i do not need any more,i could say i have some of the best cc's out there atm...maybe one to many. i get to the point of getting to the app page,filling out all my info,right before i hit sumit for a desicion i end up backing out before i get even more tempted and have to think to myself(thank god i did not apply,would not be worth the HP)

i know this is dumb but for some reason i want another amex...the PLAT....knowing it wont do me no good since i do not travel a lot.

i have all the cards i need and im at the point of,what is next?what is the next level of credit card for me to strive to get?what other challenges are out there to thrive off for next big thing.am i the only one who has a HARD time to stay in the garden?

 

with all my new accounts i have recently opened and all a lot of new CLI i have recieved
 i feel a bit off?like something is missing?

maybe i just need a new car?
LOL,jk.

 


Yup, I am addicted. I want CHASE CSP, and BARCLAY, WF, and BoA. Not to mention more Amex.

 

I'm waiting to get the 3x CLI and 6 month 3x CLI from amex is the only thing that holding me back.

2013 Approvals: Discover IT - 3/1, Amex BCE - 3/4, CSP - 5/4, Barclay Ring - 6/12, BoA Privileges Cash - 6/27, Citi TY Preferred - 8/6, OCCU Duck - 11/4, USBank (Cash+) - 11/22, Wells Fargo - 12/21, Nordstrom - 12/29

12/19/2013, $100k+ Available Credit. Total Util: 0-1%
Message 24 of 46
Contributor

Re: addicted to applying for cc's?


armbenderc wrote:

mojobones89 wrote:

i have noticed that when i have free time and nothing to do at home,i end up getting on this forum and see new posts,reading peoples approvals and success stories i end up getting  the urge to find a new cc to apply for,EVEN THOUGH i do not need any more,i could say i have some of the best cc's out there atm...maybe one to many. i get to the point of getting to the app page,filling out all my info,right before i hit sumit for a desicion i end up backing out before i get even more tempted and have to think to myself(thank god i did not apply,would not be worth the HP)

i know this is dumb but for some reason i want another amex...the PLAT....knowing it wont do me no good since i do not travel a lot.

i have all the cards i need and im at the point of,what is next?what is the next level of credit card for me to strive to get?what other challenges are out there to thrive off for next big thing.am i the only one who has a HARD time to stay in the garden?

 

with all my new accounts i have recently opened and all a lot of new CLI i have recieved
 i feel a bit off?like something is missing?

maybe i just need a new car?
LOL,jk.

 


Yup, I am addicted. I want CHASE CSP, and BARCLAY, WF, and BoA. Not to mention more Amex.

 

I'm waiting to get the 3x CLI and 6 month 3x CLI from amex is the only thing that holding me back.


same here,almost at that 61 day mark!

guess people were not lying when they say,"credit cards are the devil."

i think i want to add to that quote by saying,"credit cards and THIS FORUM are INDEED the DEVIL."

Message 25 of 46
Frequent Contributor

Re: addicted to applying for cc's?

I feel the same, and in fact, I think it almost becomes like a collector thing. Like my son's former Pokemon thing.

 

Amex--gotta catch it!

 

Chase--gotta get it!

 

Discover--gotta have it!

 

All my cards serve a specific purpose, with the possible exception of Discover.  Between the preapproval and the success here I was seeing, I just had to have it.  And that is when I firmly went to the garden.  Too tempting after being denied for years...it's an intoxicating feeling to hear or see "Approved!"

 

 

WOW! EQ when I joined myFICO: 657. Ups and downs and a few bumps and bruises, but finally back over 700. Whew!

Message 26 of 46
Contributor

Re: addicted to applying for cc's?


LisaJ wrote:

I feel the same, and in fact, I think it almost becomes like a collector thing. Like my son's former Pokemon thing.

 

Amex--gotta catch it!

 

Chase--gotta get it!

 

Discover--gotta have it!

 

All my cards serve a specific purpose, with the possible exception of Discover.  Between the preapproval and the success here I was seeing, I just had to have it.  And that is when I firmly went to the garden.  Too tempting after being denied for years...it's an intoxicating feeling to hear or see "Approved!"

 

 


haha,i will have to steal that from you,good terminology.

 

Message 27 of 46
Moderator Emeritus

Re: addicted to applying for cc's?


WolfMan wrote:

Somedays I see a card someone got approved and think, I want!

Luckily I stop myself. Finally getting approved for things is like a drug. I want more. 

 


Actually, that statement's not very far off. Applying for credit cards can be very tempting and difficult to resist. I posted the following on this forum a long time ago:

 

"I remember that in my psychology class back in my college days, we read about a study that was done with rats and rewards. The rats pulled a lever. In one group, the lever never resulted in a reward; the rats very quickly learned to ignore the lever. In another group, the rats always received a reward; the rats pulled the lever frequently at first, but soon became bored and only pulled it on occasion. In yet another group, the rats received intermittent rewards; in this group, the rats went nuts with the lever, and behaved as if they were addicted to it. In short, not knowing whether or not a reward was coming -- but it might! -- was a very powerful motivator.

 

"I think that this translates to a number of  behaviors in certain individuals -- including an addiction to slot machines, and yes, for some even credit card applications. I think that some people apply for cards that they don't need because of the rush that comes from not knowing whether or not they'll get it -- but, they might!"

 

I think that the way to deal with this is to be mindful of the psychological effect and make a conscious effort to resist over-apping. It can be hard, but not impossible. And as Revelate mentioned earlier in this thread, the Garden Club is there to provide support and companionship along the way. Smiley Happy

 

 


Current Scores: EQ 775 (03/04/2014), EX 756 (03/01/2014), TU 760 (03/01/2014)
Ruby Spade Garden Club Member - Last App: 03/04/2013 - No apps until 2014
Cards: Cap1 Venture 6.4k, Cap1 Quicksilver MC 1.75k, BankAmericard 1-2-3 Visa Signature - UCF Alumni Association 5k, Discover 7k, Citi Diamond Preferred MC 10.35k, Wells Fargo Rewards Visa 7k, Chase Freedom 5k, Chase Ink 7.5k, Amex Green NPSL, Dillard's Amex 7.5k, JC Penney 7.5k, Kay Jeweler's 5.1k
Message 28 of 46
Valued Contributor

Re: addicted to applying for cc's?

A good cure (may have done this myself today): rewards abuse.   Make sure it is obvious.  Vanilla Reloads (that was my sin today), Amazon Money transfers to and fro, pay your credit card with the proceeds.    This way, you can get an issuer to shut you down from all their cards, and once Amex, Chase, Citi, Barclays, US Bank etc will no longer accept your applications, addiction to apping becomes less harmful, as no-one will accept you!

Message 29 of 46
Contributor

Re: addicted to applying for cc's?


tinuviel wrote:

WolfMan wrote:

Somedays I see a card someone got approved and think, I want!

Luckily I stop myself. Finally getting approved for things is like a drug. I want more. 

 


Actually, that statement's not very far off. Applying for credit cards can be very tempting and difficult to resist. I posted the following on this forum a long time ago:

 

"I remember that in my psychology class back in my college days, we read about a study that was done with rats and rewards. The rats pulled a lever. In one group, the lever never resulted in a reward; the rats very quickly learned to ignore the lever. In another group, the rats always received a reward; the rats pulled the lever frequently at first, but soon became bored and only pulled it on occasion. In yet another group, the rats received intermittent rewards; in this group, the rats went nuts with the lever, and behaved as if they were addicted to it. In short, not knowing whether or not a reward was coming -- but it might! -- was a very powerful motivator.

 

"I think that this translates to a number of  behaviors in certain individuals -- including an addiction to slot machines, and yes, for some even credit card applications. I think that some people apply for cards that they don't need because of the rush that comes from not knowing whether or not they'll get it -- but, they might!"

 

I think that the way to deal with this is to be mindful of the psychological effect and make a conscious effort to resist over-apping. It can be hard, but not impossible. And as Revelate mentioned earlier in this thread, the Garden Club is there to provide support and companionship along the way. Smiley Happy

 

 


i remember that in psych.

good point.

Message 30 of 46