Credit Card Center Advertiser Disclosure†
06-02-2008 09:04 PM
06-03-2008 12:23 AM
06-03-2008 05:50 AM
06-03-2008 05:52 AM
06-03-2008 06:33 AM
06-03-2008 06:38 AM
06-03-2008 07:46 AM
I agree with everything you have said. Time to garden and stop apping and/or asking for cli's.
ChemGuy wrote:Can I say something? I know this forum is meant to be supportive and encouraging, and I want to continue that culture. However, it has to be said that the pervasive, impulsive tendency of people to overextend their credit is truly a problem. The OP noted that he had had some credit problems in the past--noting subprime cards--and that he had avoided further delinquency and essentially had begun to rebuild his credit. Lo and behold, as soon as one card was approved--well, that started the apping spree. See the problem?Many pundits comment that card companies are correct in holding the views that they do about 'defaulters'--i.e, past performance predicts future behavior. There are people who have legitimately fallen on hard times and have struggled to recover, not because they are 'defaulters' but because they get lumped with people who cannot handle debt.What's my point here to the OP? The OP asked 'what do I do'. Well, you should have stopped at the Amex, and for sure no further than the USAA. But you didn't. Don't destroy all the good you've done for yourself. Show credit issuers that you've moved past any problems you previously had. But if you continue to demonstrate that their forgiveness will only facilitate regression to old ways, that won't help your situation.
06-03-2008 07:48 AM
mrlimo wrote:I had an App spree last year. However my App spree was a calculated move, Not a goof, or a Additicion to approval process. I applied for a lowes card for financial reasons to take advantage of 6 months same as cash, aditional 10% off of the purchase price (which I wound up getting an additional 10% on top of the original 10%), Next I had alot of high ticket price purchases coming up so Amex Blue sky miles card was next App. figured my next vacation would be at the expense of the c.c.c. this was a bit of a downfall but just a side step. I wanted to set up my child daycare to pay monthly on amex card to get the additional 1000 miles per month only to find out they do not accept amex so 3rd app was to capital one miles card for same reason take advantage of the $1000 I am putting out for daycare and turning it into my next vacation with the family. I may have taken a dip in fico's points for this year only to enjoy a free vacation at the expense of c.c.c. next year when my fico point will have returned. Never apply for cards just to get more C.L.'s to spend. What says you will not look at the cli's and go on a spending spree next since your obsession for app spree has come to an end. It's that very compulsive behavior that gets most in trouble fiscally in the first place.
Forums posts are not provided or commissioned by FICO. Forums posts have not been reviewed, approved or otherwise endorsed by FICO. It is not FICO's responsibility to ensure all posts and/or questions are answered.† Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
* For complete information, see the terms and conditions on the credit card issuer’s website. Once you click apply for this card, you will be directed to the issuer’s website where you may review the terms and conditions of the card before applying. While myFICO always strives to present the most accurate information, we show a summary to help you choose a product, not the full legal terms - and before applying you should understand the full terms of products as stated by the issuer itself.
IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more
FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.