topic Re: Possible application spree after closing in Credit Card Applications

Possible application spree after closing

MissEngineer83 — Sat, 16 May 2020 08:16:33 GMT

I close on my home on the 28th and I need a refrigerator and new furniture. My plan is to apply to a few places immediately and see who offers me the best CL (if anything). I want to apply to Best Buy because they use citi and I'm super cautious of going with anything synchrony or comenity. I'm sure I will get denied for Home Depot because they use chase. After how many applications on the same day will my profile get flagged or begin getting denials? And what's the best approach for applying for multiple cards on the same day?

Re: Possible application spree after closing

Jnbmom — Sat, 16 May 2020 08:17:33 GMT

@MissEngineer83 wrote:
I close on my home on the 28th and I need a refrigerator and new furniture. My plan is to apply to a few places immediately and see who offers me the best CL (if anything). I want to apply to Best Buy because they use citi and I'm super cautious of going with anything synchrony or comenity. I'm sure I will get denied for Home Depot because they use chase. After how many applications on the same day will my profile get flagged or begin getting denials? And what's the best approach for applying for multiple cards on the same day?

Home depot is CITIBANK.

Re: Possible application spree after closing

MissEngineer83 — Sat, 16 May 2020 08:53:56 GMT

Ok great. Thanks! I'm not sure why I thought it was chase.

Re: Possible application spree after closing

Jnbmom — Sat, 16 May 2020 09:03:30 GMT

@MissEngineer83 wrote:
Ok great. Thanks! I'm not sure why I thought it was chase.

You can try the prequalify for the home depot card too.

Re: Possible application spree after closing

SouthJamaica — Sat, 16 May 2020 12:56:19 GMT

@MissEngineer83 wrote:
I close on my home on the 28th and I need a refrigerator and new furniture. My plan is to apply to a few places immediately and see who offers me the best CL (if anything). I want to apply to Best Buy because they use citi and I'm super cautious of going with anything synchrony or comenity. I'm sure I will get denied for Home Depot because they use chase. After how many applications on the same day will my profile get flagged or begin getting denials? And what's the best approach for applying for multiple cards on the same day?

I don't think it's a great idea to apply for a bunch of cards on the same day. Particularly in this climate. One or more institutions may take adverse action against you once they see a lot of new accounts.

Re: Possible application spree after closing

Citylights18 — Sat, 16 May 2020 15:06:52 GMT

Instead of all these store cards why not get out a US Bank Cash+ which one of its 5% categories is electronic stores.

So you find something on sale that was normally $750 for $500. Put in on the Cash+ and $150 back + $25 for the purchase so another $175 off. Then you are getting a $750 computer for $375 which is a tremendous deal.

Re: Possible application spree after closing

MissEngineer83 — Sat, 16 May 2020 15:10:11 GMT

I was worried about this so my main focus will be the fridge. Thanks!

Re: Possible application spree after closing

MissEngineer83 — Sat, 16 May 2020 15:11:10 GMT

I've never heard of that card but i'll look into. Thanks!

Re: Possible application spree after closing

Citylights18 — Sat, 16 May 2020 15:13:43 GMT

@MissEngineer83 wrote:
I close on my home on the 28th and I need a refrigerator and new furniture. My plan is to apply to a few places immediately and see who offers me the best CL (if anything). I want to apply to Best Buy because they use citi and I'm super cautious of going with anything synchrony or comenity. I'm sure I will get denied for Home Depot because they use chase. After how many applications on the same day will my profile get flagged or begin getting denials? And what's the best approach for applying for multiple cards on the same day?

I picked up a Samsung store card when I had to buy appliances. Now I'm using it for a cell phone.

For furniture you might also be interested in an Chase Amazon card since you might find deep discounts and then have the option of financing.

Re: Possible application spree after closing

ChargedUp — Sun, 17 May 2020 04:12:47 GMT

After seeing your list of card in your other thread, I recommend staying away from any more store cards. (Especially Comenity/Synchrony).

These are holding you back on growing your better cards and getting other cards unsecured. Banks tend to look down on a profile with too many store cards vs. bank cards.

Re: Possible application spree after closing

Meanmchine — Sun, 17 May 2020 04:20:35 GMT

To make life easier for you, after you close and before you app, notify all the CRBs of your new address. It will make life a little bit easier

Re: Possible application spree after closing

MissEngineer83 — Sun, 17 May 2020 04:29:05 GMT

@ChargedUp wrote:
After seeing your list of card in your other thread, I recommend staying away from any more store cards. (Especially Comenity/Synchrony).

These are holding you back on growing your better cards and getting other cards unsecured. Banks tend to look down on a profile with too many store cards vs. bank cards.

I completely agree. I wish I could get a large increase so i can buy what I need. This is pretty frusrating.

Re: Possible application spree after closing

MissEngineer83 — Sun, 17 May 2020 04:30:51 GMT

@Meanmchine wrote:
To make life easier for you, after you close and before you app, notify all the CRBs of your new address. It will make life a little bit easier

Will do! But may I ask, what does that do?

Re: Possible application spree after closing

ChargedUp — Sun, 17 May 2020 04:39:45 GMT

@MissEngineer83 wrote:
@Meanmchine wrote:
To make life easier for you, after you close and before you app, notify all the CRBs of your new address. It will make life a little bit easier
Will do! But may I ask, what does that do?

When you app for a card with an address that doesn't show up on your CR's, lenders tend to get nervous about fraudulent apps nowadays. Having your updated address present on your reports will save you the headaches of needing to prove your new address to most creditors.

Re: Possible application spree after closing

Meanmchine — Sun, 17 May 2020 04:58:41 GMT

@ChargedUp wrote:
@MissEngineer83 wrote:
@Meanmchine wrote:
To make life easier for you, after you close and before you app, notify all the CRBs of your new address. It will make life a little bit easier
Will do! But may I ask, what does that do?
When you app for a card with an address that doesn't show up on your CR's, lenders tend to get nervous about fraudulent apps nowadays. Having your updated address present on your reports will save you the headaches of needing to prove your new address to most creditors.

What he said

Also, if you will be changing phone numbers, you should do that at the same time