topic Re: How much does AAoA matter for Penfed, Capital One and Discover in Credit Card Applications

How much does AAoA matter for Penfed, Capital One and Discover

Anonymous — Sat, 01 Sep 2018 06:22:43 GMT

I am in garden and was tempted to apply for Macy’s (I know it’s stupid to compromise for just $300 limit) Now my AAoA is 1 yr and 6 months. Scores are up in 700’s. Planning to apply for Penfed, Cap 1 and Discover.

Is it wise to let the cards age or go for App spree?

Re: How much does AAoA matter for Penfed, Capital One and Discover

Anonymous — Sat, 01 Sep 2018 09:26:24 GMT

I am curious as to how many inquries you have on each bureau. Even with good scores, you can still be denied or be given a low SL if you have a lot of credit inquries.

Re: How much does AAoA matter for Penfed, Capital One and Discover

Anonymous — Sat, 01 Sep 2018 12:27:20 GMT

Agreeed a billipn times fico 9 798 with penfed still denied multiple times looks like our stats r close

Re: How much does AAoA matter for Penfed, Capital One and Discover

Anonymous — Sat, 01 Sep 2018 12:37:34 GMT

@Anonymous wrote:
I am in garden and was tempted to apply for Macy’s (I know it’s stupid to compromise for just $300 limit) Now my AAoA is 1 yr and 6 months. Scores are up in 700’s. Planning to apply for Penfed, Cap 1 and Discover.

Is it wise to let the cards age or go for App spree?

Like others have said, it's a question of inqs. Are you preapproved on Disco or Cap1? (Preapproved as in a single APR or three percent range, not marketing)

Re: How much does AAoA matter for Penfed, Capital One and Discover

Anonymous — Sat, 01 Sep 2018 15:32:13 GMT

I am getting discover preapproval mailers. But I did not pay much attention to APR last time. Will check this time.

I have 14 hard enquries on TU and 16 on EF.

Re: How much does AAoA matter for Penfed, Capital One and Discover

Anonymous — Sat, 01 Sep 2018 22:20:14 GMT

Infanct, today I got mail from BoA about balance Transfer. I also got another mailer from Lending club with Milage points from United offer. Looks like all the lenders think I am still carrying balances and they are trying to get personal loan from them. I may have to wait for couple of months before I stop receiving these mailers.

Re: How much does AAoA matter for Penfed, Capital One and Discover

Anonymous — Sat, 01 Sep 2018 22:23:50 GMT

Penfed cares very much about aaoa. If you have a thin or short file (few open accounts and all less than 1yr) you might want to start with a checking and build good history

Re: How much does AAoA matter for Penfed, Capital One and Discover

AverageJoesCredit — Sat, 01 Sep 2018 23:09:24 GMT

If a store card like Macys fits your spend dont dismiss them so easy. It is one of the fastest growing store cards out there. I started out at $300 and am 20k + in about 2 years with very little usage. Just a thought

Re: How much does AAoA matter for Penfed, Capital One and Discover

Pikaboo-icu — Sat, 01 Sep 2018 23:21:44 GMT

@AverageJoesCredit wrote:
If a store card like Macys fits your spend dont dismiss them so easy. It is one of the fastest growing store cards out there. I started out at $300 and am 20k + in about 2 years with very little usage. Just a thought

I've bounced back & forth on getting Macys.. I could get into big trouble there...

Nice to see you notsoAverageJoe.

To the OP; My AAOA was pretty low, perhaps 1.5 years or so when I apped & was approved.

I think PenFed considers a lot of things in their decisions.

Re: How much does AAoA matter for Penfed, Capital One and Discover

AverageJoesCredit — Mon, 03 Sep 2018 01:07:02 GMT

Lol, hey Pika

Macys/DSNB is off their gourd. I thought Sync was giving but Macys makes them look like Penfed lol.

Re: How much does AAoA matter for Penfed, Capital One and Discover

SBR249 — Mon, 03 Sep 2018 04:20:09 GMT

PenFed was pretty well known for denying people for "escalating debts" (aka being an Egyptian) when they see credit seeking behavior like lots of new accounts or inqs. Don't know what they are like now, but it may be risky.

Re: How much does AAoA matter for Penfed, Capital One and Discover

Anonymous — Mon, 03 Sep 2018 04:27:22 GMT

They still discriminate against Egyptians, we saw a few Egyptian denials here last month.

Re: How much does AAoA matter for Penfed, Capital One and Discover

Anonymous — Sat, 08 Sep 2018 00:54:09 GMT

“Egyptian” ? I was away from forum for couple of days and I am greeted with new jargon 😀

Re: How much does AAoA matter for Penfed, Capital One and Discover

Anonymous — Sat, 08 Sep 2018 01:45:22 GMT

@Anonymous wrote:
“Egyptian” ? I was away from forum for couple of days and I am greeted with new jargon 😀

In a nutshell, too many new inquiries and accounts.

Pyramid Debt/Egyptian Denial