topic Re: App Spree! in Credit Card Approvals

App Spree!

Anonymous — Thu, 11 Aug 2016 01:18:25 GMT

First, I want to thank the wonderful people on this board for the great information and support that they provide. I have been a member for almost 1 year and have managed to bring my scores from a 550 to a decent 687.

I finally closed one of my starter cards from Wellsfargo *secured* (it refused to budge...at all!) and I decided to come out of the garden and apply for a few cards today, before my score takes a temporary hit for closing the WF card. I was instantly approved for Discover IT- 3000.00, Amex (cash everyday)- 1800.00 and Chase Sapphire 5000.00! This is my first 5000.00 limit!! I am so excited. It is so nice to finally see my credit growing, and I owe alot to this board for the valuable information. Now, back to the garden I go!!

edited to correct spelling...

Re: App Spree!

Anonymous — Thu, 11 Aug 2016 01:19:59 GMT

Good job!! You did it! Awesome spending limits too! I love the discover and csp! Happy spending 🙂

Re: App Spree!

Kirmie2010 — Thu, 11 Aug 2016 01:21:51 GMT

Far as I know there is no hit for closing a card? Might be, I dunno!

Congrats! Big congrats on the Chase Sapphire!

Re: App Spree!

Anonymous — Thu, 11 Aug 2016 01:25:20 GMT

Nice job!

also, what limit was your wf secured? How long did you have it for. I'm debating whether to close mine too. I had it for 2.5 years. Never seen graduation

Re: App Spree!

Anonymous — Thu, 11 Aug 2016 01:35:10 GMT

Awesome op!! Keep up the good work!!

Re: App Spree!

Anonymous — Thu, 11 Aug 2016 01:42:05 GMT

@Anonymous wrote:
Nice job!

also, what limit was your wf secured? How long did you have it for. I'm debating whether to close mine too. I had it for 2.5 years. Never seen graduation

It was a secured card with a 900.00 limit....I opened it in 2012!! My Capital One Sony is 4000.00....Walmart, Old Navy, Home Depot are 4000.00 as well. So I felt that the secured card had served its purpose and its time to move on.......I really dont know whats up with Wellsfargo, some people have better luck with them.

Re: App Spree!

Anonymous — Thu, 11 Aug 2016 01:45:18 GMT

Congratulations! Well done!

Re: App Spree!

Mzjedwards1 — Thu, 11 Aug 2016 01:45:40 GMT

Congrats on your app spree!!!!!.Looks like it paid off... WF just doesnt seem to move much at all...

Re: App Spree!

pc01user — Thu, 11 Aug 2016 02:01:24 GMT

Good Job!

Re: App Spree!

Anonymous — Thu, 11 Aug 2016 02:16:49 GMT

You will not take a hit on your score for closing the card. It does not lower your AAOA. It will stay on your reports for 10 years. Added new accounts will.

Re: App Spree!

mystikal1 — Thu, 11 Aug 2016 02:20:50 GMT

Congrats,,,Keep it up!

Re: App Spree!

Anonymous — Thu, 11 Aug 2016 02:22:03 GMT

@Anonymous wrote:
You will not take a hit on your score for closing the card. It does not lower your AAOA. It will stay on your reports for 10 years. Added new accounts will.

Thank you so much for the clarification.

Re: App Spree!

Anonymous — Thu, 11 Aug 2016 05:20:26 GMT

@Anonymous wrote:
First, I want to thank the wonderful people on this board for the great information and support that they provide. I have been a member for almost 1 year and have managed to bring my scores from a 550 to a decent 687.

I finally closed one of my starter cards from Wellsfargo *secured* (it refused to budge...at all!) and I decided to come out of the garden and apply for a few cards today, before my score takes a temporary hit for closing the WF card. I was instantly approved for Discover IT- 3000.00, Amex (cash everyday)- 1800.00 and Chase Sapphire 5000.00! This is my first 5000.00 limit!! I am so excited. It is so nice to finally see my credit growing, and I owe alot to this board for the valuable information. Now, back to the garden I go!!

edited to correct spelling...

Congratulations to you!...Thanks for sharing.

Re: App Spree!

Anonymous — Thu, 11 Aug 2016 16:16:20 GMT

Well Done!

I, too, was in the rebuilding garden for a year or so. I spreed a few months ago and also got some gret cards with very generous limits. I LOVE amex and pretty much use it for everything. I do have the EveryDay Preferred and basically use it as a debit card and pay it off weekly.

Do you have any other types of credit? Car loan, mortgage or anything like that? I saw my scores go higher after getting a car loan (after the initial hit for applications).

Re: App Spree!

Anonymous — Thu, 11 Aug 2016 18:33:58 GMT

@Anonymous wrote:
First, I want to thank the wonderful people on this board for the great information and support that they provide. I have been a member for almost 1 year and have managed to bring my scores from a 550 to a decent 687.

I finally closed one of my starter cards from Wellsfargo *secured* (it refused to budge...at all!) and I decided to come out of the garden and apply for a few cards today, before my score takes a temporary hit for closing the WF card. I was instantly approved for Discover IT- 3000.00, Amex (cash everyday)- 1800.00 and Chase Sapphire 5000.00! This is my first 5000.00 limit!! I am so excited. It is so nice to finally see my credit growing, and I owe alot to this board for the valuable information. Now, back to the garden I go!!

edited to correct spelling...

Congrats OP.

You should not take any hit from closing your WF secured card. Unless you had $10K limit on it When i closed mine couple months ago, it was maxed at $2500, so once it was paid off an closed, my scores actually went up a little because by closing it, i got rid $2500 debt. With the new cards added you ay see a drop in your AAoA, hence a small score drop, but the available credit on those cards shouldmake up for that drop. Also, don't forget that fico does not factor in your payment history on a new account until after 6 months. So 6 months down the road, you will see a better increase on your score. Congrats!

Re: App Spree!

Anonymous — Thu, 11 Aug 2016 18:41:49 GMT

Wow, I'm so happy for you! All those great approvals, and your scores are looking very good! The Chase SL is awesome - enjoy all of your successes!

Re: App Spree!

Vegas4Play — Fri, 12 Aug 2016 08:20:42 GMT

Congrats to you !!!