Re: App Spree Results!

lokito_luisito · ‎10-13-2012

Just wanted to share my results of my app spree that I went on this month.

AMEX BCE - Denied

Citibank ThankYou - Denied

BankAmericard Cash Reward - Approved 2K (after a phonecall from a rep)

Chase Freedom - Approved 3k

Discover More - Approved 1.2k

I was actually suprised that I got approved for anything having about 70% utilization and a fico of 668 (Equifax). Unfortunetaly the one I wanted the most was the BCE but unfortunately wasn't approved even though I have an AMEX Plat -___- but I'm laying low for at least 12 months before I apply for it again. 3/5 isn't so bad right? lol

Chadsnana · ‎04-12-2007

Congrats! I think that Citibank is tightening up on credit so that isn't really a suprise. I am new to this App Spree. I worry about having too many inq. Would you give me a few pointers? Thanks.

http://ficoforums.myfico.com/t5/image/serverpage/image-id/2760iB9166C1A493A3CBC/

lokito_luisito · ‎10-13-2012

Thanks! Yeah, I probably wouldn't recommend it but I wanted to open more accounts due to only having 3 open accounts and such a low credit limit across those cards. I think my score took like a 15 point hit.

webhopper · ‎09-16-2011

Congrats!

Amex likes to see low utilization. Word of advice: pay down balances before reapplying.

Starting Score: 08/29/2011 TU 671 EQ 674
Current Score (myFico + Amex): April 2013 TU 754 EQ 694 EX 694
Wallet: NFCU Visa Sig 25k, Amex Lowes 22k, NavCheck 15k, Amex PRG, Amex Zync, Discover It 13.5k, Amazon Visa 5k
Silver Spade Garden Club Member: App Free since 1/1/13. No more apps til 2014
MyFICO Fitness Goal: 800s Club!

Take the myFICO Fitness Challenge

lokito_luisito · ‎10-13-2012

Yup, that's my main priority. As well as taking care of these new additions. Hopefully I can break 700 by then.

webhopper · ‎09-16-2011

Good luck!

Starting Score: 08/29/2011 TU 671 EQ 674
Current Score (myFico + Amex): April 2013 TU 754 EQ 694 EX 694
Wallet: NFCU Visa Sig 25k, Amex Lowes 22k, NavCheck 15k, Amex PRG, Amex Zync, Discover It 13.5k, Amazon Visa 5k
Silver Spade Garden Club Member: App Free since 1/1/13. No more apps til 2014
MyFICO Fitness Goal: 800s Club!

Take the myFICO Fitness Challenge

Chadsnana · ‎04-12-2007

Thanks for your reply. I am in the same situation. I only had 3 cards with a $6,000 limit total so I have been on an app spree.Since I do not put everyday purchases on my CC I really do not need a lot of credit but it hurts my utilization rate when I do put a major purchase on them. Occasionally, I will purchase something and put it on the card so that the company does not cancel my card due to a lack of use. My husband had 3 companies cancel his cards for non-use.Same thing happened to my inlaws. I have been applying because I want to have more credit availabitly. I am willing to take a short-term ding to get it. I hope to cancel some cards that require an annual fee at some point but I have to apply for new ones first.

http://ficoforums.myfico.com/t5/image/serverpage/image-id/2760iB9166C1A493A3CBC/

lokito_luisito · ‎10-13-2012

Yea pretty much identical situations. I am no credit expert by far but I don't see the harm of applying for 3 or 4 cards with good rewards. I feel like the benefit of the higher credit limit out weighs the temporarly hit to your score. Just my opinion though. As far as those AFs... my Amex Plat is due this billing cycle. Looking at $625 due to the authorized users on the account. Thinking long and hard whether I should renew it.

lokito_luisito · ‎10-13-2012

webhopper wrote:
Good luck!

Thanks!!

maiden_girl · ‎12-29-2011

Awesome app spree! Not bad results at all!

The truth is out there...