08-21-2010 10:03 PM
the good news is, it will probably come back in less than 6 months. but I really would stop at this point until you work your way through all these current apps out. it's going to be tough probably with all the reports blocked
08-22-2010 07:52 AM
Ok putting the laptop down, Just apped for West Elm cc, and Toyota....both 7-10 day message....that now 11 cards I applied for....OMG i am screwed now, hopefully Kroger, Chase, and UsBank will aprove!
I figured that, i should have taken them off before, they are probably going to hound me for every piece of identity now, dong even know where my SSN card is. Oh well Barclays I fear are going to be the hardest, even though my scores qualify. Has anyone had luck GW asking to remove the inqs?
You can't have legitimate inquiries removed as that is considered fraud. Is there a specific reason why you app'd for ALL of these cards? Even if you get most of these there still is the risk of being AA'd later on when some of these big banks soft your reports and see all of these accounts all of the sudden pop up. Having a great FICO score is attributed to a smart financial plan and doing things in a timely fashion. I just wouldn't want to spend the next few months looking over my shoulder to see if any of these cards are going to go bye bye. Next week should be interesting for you... keep us posted.
08-22-2010 10:14 AM
I just don't understand why people go on 'app sprees.' Isn't it far more preferable to take it slow, get cards with large banks/credit unions over time, and build your history with them? That's the approach I took, and it has served me way better than applying to 8 sub prime cards, and then ditching them when my credit score increases. I started with a score in the upper 500s, and have worked myself up to 760. I currently have cards with bank of america, chase, american express, discover, and penfed. I plan to just grow with these companies rather than going on 'app sprees' which will litter my credit file.
Take it slow. Building credit isn't like going on a shopping spree. It takes time.
08-23-2010 08:35 AM
I'm curious to see how many you got approved for. What happens if you got approved for them all?
08-23-2010 08:49 AM
If OP submitted 11 apps as PP less than 50% approval should be expected, another good reason to be more moderate when seeking new credit.