topic Re: OMG. STATE FARM BANK. in Credit Card Approvals

OMG. STATE FARM BANK.

Anonymous — Fri, 05 May 2017 08:46:01 GMT

My approvals just keep on rolling in. State Farm Good Neighbor Card approved SL 2500. I've wanted this card for a while now. Boom baby.

Over 75 Inquiries and still approved. I've said it once and I've said it 2x, Inquiries don't mean jack.

EQ 624, TU 669, EX 658.

Re: OMG. STATE FARM BANK.

Anonymous — Fri, 05 May 2017 07:50:35 GMT

Congratulations on your State Farm card! Sounds like an awesome win! I may have to check them out. Any advice/words of wisdom about the process?

Re: OMG. STATE FARM BANK.

Anonymous — Fri, 05 May 2017 08:11:46 GMT

This was my 3rd time applying and finally got in. Low UTI and DTI. I'm one that don't give up.

Re: OMG. STATE FARM BANK.

Anonymous — Fri, 05 May 2017 08:35:17 GMT

They are running a promotional 0% APR for one year on purchases and balance transfers as well. I did notice that each time I applied they pulled reports from all 3 bureaus.

Re: OMG. STATE FARM BANK.

AverageJoesCredit — Fri, 05 May 2017 11:51:03 GMT

Yikes, triple pull x3 you are persistant

All that can be said really::LIKE A GOOD NEIGHBOR....SCOTT GOT HIS CARD

Re: OMG. STATE FARM BANK.

Anonymous — Fri, 05 May 2017 15:18:00 GMT

@Anonymous wrote:
My approvals just keep on rolling in. State Farm Good Neighbor Card approved SL 2500. I've wanted this card for a while now. Boom baby.

Over 75 Inquiries and still approved. I've said it once and I've said it 2x, Inquiries don't mean jack.

EQ 624, TU 669, EX 658.

Congrats!!

Re: OMG. STATE FARM BANK.

Anonymous — Fri, 05 May 2017 12:36:13 GMT

Senior Contributor

Posts: 5,073

Registered: ‎04-23-2016

Re: OMG. STATE FARM BANK.

‎05-05-2017 04:51 AM

Yikes, triple pull x3 you are persistant

All that can be said really::LIKE A GOOD NEIGHBOR....SCOTT GOT HIS CARD

Re: OMG. STATE FARM BANK.

Anonymous — Fri, 05 May 2017 12:50:36 GMT

Stats,

Navy Cloc 15K

Navy GoRewards 10K

Navy Cashrewards 3K

USAA Preferred Cash Back 1K

State Farm Bank 2500

American Express BCE 500

Barclay Apple 1500

Cap 1 QS 1500

Cap 1 Platinum 1100

Cap 1 Sony 500

Merrick Bank 1400

Marathan 1300

True Value 1250

Florida Credit Union 1K

Pay Pal Credit 2K

Amazon Store card 1300

Kay Jewerls 1500

Furniture Store 2K

Hmm not what to apply for next. lol

EQ 624, TU 669, EX 658

Re: OMG. STATE FARM BANK.

Anonymous — Fri, 05 May 2017 14:12:26 GMT

Congrats on your State Farm approval. I applied for this a couple of months ago because of the BT offer.

They pulled TU for me this time; last year I applied and the pulled EQ. Only single pulls for me.

Again, congratulations

Re: OMG. STATE FARM BANK.

Skymogul — Fri, 05 May 2017 15:00:26 GMT

@Anonymous wrote:
My approvals just keep on rolling in. State Farm Good Neighbor Card approved SL 2500. I've wanted this card for a while now. Boom baby.

Over 75 Inquiries and still approved. I've said it once and I've said it 2x, Inquiries don't mean jack.

EQ 624, TU 669, EX 658.

Inquiries, AAoA, amount of new credit and so forth make up 25% of your score. That is about 100 points, for you, the difference between the mid 600s and the mid 700s. Sure you're getting approved -- but at sub-prime APRs. Very little attention seems to be paid to APRs on these boards, just how many cards a person has and what their total limit is.

Re: OMG. STATE FARM BANK.

Anonymous — Fri, 05 May 2017 16:24:48 GMT

Hi Scott congrats on yet another nice approval! 😊

Re: OMG. STATE FARM BANK.

Anonymous — Fri, 05 May 2017 16:44:38 GMT

Congrats. Now dump some cards. Furniture and Sony first. Combine Quicksilver with cap1 platinum. Now that you have another card better than merrick, lose that one too.

Re: OMG. STATE FARM BANK.

Anonymous — Fri, 05 May 2017 18:46:17 GMT

@Skymogul wrote:
@Anonymous wrote:
My approvals just keep on rolling in. State Farm Good Neighbor Card approved SL 2500. I've wanted this card for a while now. Boom baby.

Over 75 Inquiries and still approved. I've said it once and I've said it 2x, Inquiries don't mean jack.

EQ 624, TU 669, EX 658.
Inquiries, AAoA, amount of new credit and so forth make up 25% of your score. That is about 100 points, for you, the difference between the mid 600s and the mid 700s. Sure you're getting approved -- but at sub-prime APRs. Very little attention seems to be paid to APRs on these boards, just how many cards a person has and what their total limit is.

+1.... I would suggest going into the garden and letting everything age (6-12 Months). Your starting lines are going to remain low and could provoke AA from certain lenders. (Barclays & AMEX in particular)

Re: OMG. STATE FARM BANK.

Anonymous — Fri, 05 May 2017 19:23:01 GMT

What is AA.

Re: OMG. STATE FARM BANK.

Anonymous — Fri, 05 May 2017 19:34:18 GMT

Hi Scott hope this helps,

AA = (1) adverse action (lowered credit limits, closed cards, negative reports on credit, etc.) (2) American Airlines (esp. Citi AAdvantage cobranded card)

Re: OMG. STATE FARM BANK.

Aduke1122 — Fri, 05 May 2017 19:33:33 GMT

Congrats Scott on the new approval but as others have said take the advice and get to the garden , you may be getting approvals now but with certain lenders like Barclays and Amex and even Cap One as of lately they are very likely to AA you = Adverse Action= meaning close out your accounts , slash your credit lines down to nothing and prolly most of all not be able to grow with them for quite a long while , I have less than 20 inquiries and Cap one will not give me a CLI stating too many recent inquiries as the reason . While it feels super good to get approved , you can only go so far bf you get smacked in the face with a brick wall of denials for too many new accounts and inquiries. I would close some of those out that you really would never use or really high APR and go to the garden for a good year or more

Re: OMG. STATE FARM BANK.

DrZoidberg — Fri, 05 May 2017 19:41:37 GMT

You're scores are in the mid 600's and you're SL was $2.5k. You're inquiries are affecting you.

Re: OMG. STATE FARM BANK.

Anonymous — Fri, 05 May 2017 19:44:22 GMT

Congratulations, Scott. No, I do not come offering any unsolicited advice. Enjoy your new card!

Re: OMG. STATE FARM BANK.

Anonymous — Fri, 05 May 2017 19:46:17 GMT

I dk about that. I had an inquiry added a few days ago and my score jumped 19 points from it on the Fico report.

Re: OMG. STATE FARM BANK.

Anonymous — Fri, 05 May 2017 20:04:44 GMT

@DrZoidberg wrote:
You're scores are in the mid 600's and you're SL was $2.5k. You're inquiries are affecting you.

The combination of inquiries and opening multiple accounts in a short period of time. Thus getting approved with lower SL's and high APR's. Eventually the approvals will turn to declines with grave risk of AA.