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"chances of approval"

Super Contributor

Re: "chances of approval"


CreditCardDiva wrote:

Personally,

I'd rather app when I know I have a VERY good chance of being approved...I don't do recons. Being on the "fringe" , which will usually get you the 7-10 message, is not of interest to me....not now. 


For my credit file and many others around me, we no longer received instant approvals.  

 

After "x" amount of new accounts and inquiries, an app is automatically tagged for review.  However, on every app where I've received the "7-10 day message," it has always been approved without recon during the time period.  This has been the case with Chase, Barclay and Citi (though on the review they ask me to call a number for an instant decision).

 

I no longer call for recons until after the review process, which has yet to result in a decline.  For me, calling for a recon during a "pending review" often results in additional hard pulls on two or all three CRAs.

Message 51 of 60
Regular Contributor

Re: "chances of approval"


Open123 wrote:

CreditCardDiva wrote:

Personally,

I'd rather app when I know I have a VERY good chance of being approved...I don't do recons. Being on the "fringe" , which will usually get you the 7-10 message, is not of interest to me....not now. 


For my credit file and many others around me, we no longer received instant approvals.  

 

After "x" amount of new accounts and inquiries, an app is automatically tagged for review.  However, on every app where I've received the "7-10 day message," it has always been approved without recon during the time period.  This has been the case with Chase, Barclay and Citi (though on the review they ask me to call a number for an instant decision).

 

I no longer call for recons until after the review process, which has yet to result in a decline.  For me, calling for a recon during a "pending review" often results in additional hard pulls on two or all three CRAs.


But see, my "no recons" position is for me....not for others. I know that a recon for me is probably going to yield a flat-out no, because of my inquiries and high utilization. ...and AOAA. Now, if everything was nice and pristine, and I still got a 7-10 message, then I would possibly do a recon, just to find out what's causing a manual review and see if I can help move things in my favor.

 

Again, I lost my mind for a bit (apping like a nut, and not managing my utilization...which is indicative of some issues I need to work on), so there's really no point in me doing a recon, because it is what it is. I need to slow down, step away from the computer and chill.

 

 

Credit Rebuild Start Date (3/12)
Oakland County CU Visa ($500) | Capital One Quick Silver One ($600) | Capital One Secured MC ($200) | Walmart ($1600) | PayPal Credit ($1000) | Jared ($3500) | Victoria's Secret ($850) | Gettington ($3500) | Amazon Store Card ($850) | NewEgg Preferred ($2400) | Discover IT ($1500) | Dillard's AMEX ($1500) Target ($1500) | Overstock Store Card ($1200) | Kohl's ($1500) | Old Navy ($650) | Macy's Store Card ($800) | The Limited ($350)
Message 52 of 60
Super Contributor

Re: "chances of approval"


CreditCardDiva wrote:

But see, my "no recons" position is for me....not for others. I know that a recon for me is probably going to yield a flat-out no, because of my inquiries and high utilization. ...and AOAA. Now, if everything was nice and pristine, and I still got a 7-10 message, then I would possibly do a recon, just to find out what's causing a manual review and see if I can help move things in my favor.

 

Again, I lost my mind for a bit (apping like a nut, and not managing my utilization...which is indicative of some issues I need to work on), so there's really no point in me doing a recon, because it is what it is. I need to slow down, step away from the computer and chill.

 

 


Agreed.  

 

No good can come from apping too much in a short span, since the only remedy would be to refrain for a year, which is a very long time!

Message 53 of 60
Mega Contributor

Re: "chances of approval"


Open123 wrote:

CreditCardDiva wrote:

But see, my "no recons" position is for me....not for others. I know that a recon for me is probably going to yield a flat-out no, because of my inquiries and high utilization. ...and AOAA. Now, if everything was nice and pristine, and I still got a 7-10 message, then I would possibly do a recon, just to find out what's causing a manual review and see if I can help move things in my favor.

 

Again, I lost my mind for a bit (apping like a nut, and not managing my utilization...which is indicative of some issues I need to work on), so there's really no point in me doing a recon, because it is what it is. I need to slow down, step away from the computer and chill.

 

 


Agreed.  

 

No good can come from apping too much in a short span, since the only remedy would be to refrain for a year, which is a very long time!


Actually a year of gardening is not very long.................Smiley Happy

 

Already going into my 6th month!




EQ FICO 548 3/3/16
Message 54 of 60
Super Contributor

Re: "chances of approval"


LS2982 wrote:

Open123 wrote:

CreditCardDiva wrote:

But see, my "no recons" position is for me....not for others. I know that a recon for me is probably going to yield a flat-out no, because of my inquiries and high utilization. ...and AOAA. Now, if everything was nice and pristine, and I still got a 7-10 message, then I would possibly do a recon, just to find out what's causing a manual review and see if I can help move things in my favor.

 

Again, I lost my mind for a bit (apping like a nut, and not managing my utilization...which is indicative of some issues I need to work on), so there's really no point in me doing a recon, because it is what it is. I need to slow down, step away from the computer and chill.

 

 


Agreed.  

 

No good can come from apping too much in a short span, since the only remedy would be to refrain for a year, which is a very long time!


Actually a year of gardening is not very long.................Smiley Happy

 

Already going into my 6th month!


Nice going!

 

Perfect timing, since in 6 months, it'll be perfect timing for a new Amex with a full year of backdating.  Smiley Happy

Message 55 of 60
Mega Contributor

Re: "chances of approval"


Open123 wrote:

LS2982 wrote:

Open123 wrote:

CreditCardDiva wrote:

But see, my "no recons" position is for me....not for others. I know that a recon for me is probably going to yield a flat-out no, because of my inquiries and high utilization. ...and AOAA. Now, if everything was nice and pristine, and I still got a 7-10 message, then I would possibly do a recon, just to find out what's causing a manual review and see if I can help move things in my favor.

 

Again, I lost my mind for a bit (apping like a nut, and not managing my utilization...which is indicative of some issues I need to work on), so there's really no point in me doing a recon, because it is what it is. I need to slow down, step away from the computer and chill.

 

 


Agreed.  

 

No good can come from apping too much in a short span, since the only remedy would be to refrain for a year, which is a very long time!


Actually a year of gardening is not very long.................Smiley Happy

 

Already going into my 6th month!


Nice going!

 

Perfect timing, since in 6 months, it'll be perfect timing for a new Amex with a full year of backdating.  Smiley Happy


Well my Garden stay is until January 2015 so i'll get very nice backdating for my BCE!




EQ FICO 548 3/3/16
Message 56 of 60
Regular Contributor

Re: "chances of approval"


LS2982 wrote:

Open123 wrote:

CreditCardDiva wrote:

But see, my "no recons" position is for me....not for others. I know that a recon for me is probably going to yield a flat-out no, because of my inquiries and high utilization. ...and AOAA. Now, if everything was nice and pristine, and I still got a 7-10 message, then I would possibly do a recon, just to find out what's causing a manual review and see if I can help move things in my favor.

 

Again, I lost my mind for a bit (apping like a nut, and not managing my utilization...which is indicative of some issues I need to work on), so there's really no point in me doing a recon, because it is what it is. I need to slow down, step away from the computer and chill.

 

 


Agreed.  

 

No good can come from apping too much in a short span, since the only remedy would be to refrain for a year, which is a very long time!


Actually a year of gardening is not very long.................Smiley Happy

 

Already going into my 6th month!


No, it's not. A year flies by - I'm amazed at how quickly last year flew by. I just started rebuilding a little over  a year ago. If I'd stuck to my plan, I'd probably have one if not both of the cards I want by now.

 

Credit Rebuild Start Date (3/12)
Oakland County CU Visa ($500) | Capital One Quick Silver One ($600) | Capital One Secured MC ($200) | Walmart ($1600) | PayPal Credit ($1000) | Jared ($3500) | Victoria's Secret ($850) | Gettington ($3500) | Amazon Store Card ($850) | NewEgg Preferred ($2400) | Discover IT ($1500) | Dillard's AMEX ($1500) Target ($1500) | Overstock Store Card ($1200) | Kohl's ($1500) | Old Navy ($650) | Macy's Store Card ($800) | The Limited ($350)
Message 57 of 60
Regular Contributor

Re: "chances of approval"


enharu wrote:

After reading this thread, some names popped up in my mind right away lol.

Anyways I agree with what you guys posted Smiley Tongue

 

From what I've seen so far........

 

There's always a group of people that's genuinely curious, or just don't know, and they do take feedback constructively and seriously. I think that's okay. Everyone has to learn at some point.

 

On the other spectrum there's a small bunch of individuals that just never learn. They somehow have the impression that people who offered advice are just jealous / bitter about them applying and thus turn a blind eye to what's been said. They just keep ramming apps through or collect inquiries one way or another like there is no tomorrow. Then, a few months down the road, a few of those people would start making new threads crying about AA and complaining about how unfair the lender / system is.

 

And I do understand the temptation and urge of applying. I myself find it hard to resist and am fallible myself. But there always has to be some sort of moderation and self-control. I personally don't see a point in collecting toy limit cards, and can never understand why people with 1-2yo BK are expecting prime lenders to approve them right away.

 

And more importantly, if I ever do get AA, I know I am responsible for it entirely *cough* My Barclays Arrival *cough*

I'm not gonna cry a river and write a rant essay complaining about how unfair xxx lender is because I already knew about what might potentially happen and still chose to do it anyhow.

 


This here.

Credit Rebuild Start Date (3/12)
Oakland County CU Visa ($500) | Capital One Quick Silver One ($600) | Capital One Secured MC ($200) | Walmart ($1600) | PayPal Credit ($1000) | Jared ($3500) | Victoria's Secret ($850) | Gettington ($3500) | Amazon Store Card ($850) | NewEgg Preferred ($2400) | Discover IT ($1500) | Dillard's AMEX ($1500) Target ($1500) | Overstock Store Card ($1200) | Kohl's ($1500) | Old Navy ($650) | Macy's Store Card ($800) | The Limited ($350)
Message 58 of 60
Mega Contributor

Re: "chances of approval"


CreditCardDiva wrote:

LS2982 wrote:

Open123 wrote:

CreditCardDiva wrote:

But see, my "no recons" position is for me....not for others. I know that a recon for me is probably going to yield a flat-out no, because of my inquiries and high utilization. ...and AOAA. Now, if everything was nice and pristine, and I still got a 7-10 message, then I would possibly do a recon, just to find out what's causing a manual review and see if I can help move things in my favor.

 

Again, I lost my mind for a bit (apping like a nut, and not managing my utilization...which is indicative of some issues I need to work on), so there's really no point in me doing a recon, because it is what it is. I need to slow down, step away from the computer and chill.

 

 


Agreed.  

 

No good can come from apping too much in a short span, since the only remedy would be to refrain for a year, which is a very long time!


Actually a year of gardening is not very long.................Smiley Happy

 

Already going into my 6th month!


No, it's not. A year flies by - I'm amazed at how quickly last year flew by. I just started rebuilding a little over  a year ago. If I'd stuck to my plan, I'd probably have one if not both of the cards I want by now.

 


Believe me if I could change how I did my rebuild id do it in a heartbeat!!! Smiley Happy




EQ FICO 548 3/3/16
Message 59 of 60
Highlighted
Established Contributor

Re: "chances of approval"

Interesting thread.  I know I post a lot of questions on here because I know how helpful this thread has been for me over the years.  A lot of times I wonder about my ability to obtain certain levels of credit, and it might seem like I just want someone to say 'yep you'll get approved.'  But I know better than to think that someone here can approve me.  I take everyone's advice and always try to state my plan clearly, IE saying that i'm going to wait but i'm just curious now.  It's also sort of a way to validate that I'm on the right track.  I generally know where I stand and what I want, but let's face it ... there is a lot of complicated stuff in the credit world.  There are mixed messages about what lenders want and don't want, and no CC really has a clear set of guidelines beyond "Have you ever declared for bankruptcy."  Anyway, sorry if any of mosts came off as annoying or what not...but I really have valued everything I've learned from here.

Chase Freedom: $1500, Citi Diamond Preferred: $3000, Barclays: $3900, Chase Disney Visa: $1500, Chase Southwest Signature: $5000, Citi TY Preferred: $3000, Cap One Platinum: $1750, Cap One Platinum Rewards: $2500, Orchard Bank: $900, Kay Store Card: $6600, PayPal $2200
Message 60 of 60