topic Re: How to App Spree...Guide? in Credit Card Applications

How to App Spree...Guide?

Anonymous — Fri, 05 Jun 2015 17:47:31 GMT

Good Afternoon Fellow Fico'ers-

Happy Friday!

Curious, (having searched to no avail)...

Is there an 'How To App Spree' Guide anywhere to be consumed? I would like to begin strategizing for one, but can't quite seem to get a handle on the 'requirements*'. -yes, I"m ravenous, lol-

*Ideal score ranges, banks to attempt first, average AoAA, etc.

Any and all thoughts welcome!

Thank you all, as always!

Have a wonderful weekend!!!

Re: How to App Spree...Guide?

Anonymous — Fri, 05 Jun 2015 17:49:52 GMT

Step by step guide:

1. Go to site of card you want.

2. Fill out application.

3. Click submit.

Keep repeating the above until you get a denial.

Re: How to App Spree...Guide?

Anonymous — Fri, 05 Jun 2015 17:53:32 GMT

There isn't... As @CAPTOOL stated, that is just basically it..

Re: How to App Spree...Guide?

Anonymous — Fri, 05 Jun 2015 19:04:56 GMT

Duly noted! LOL

Thank you again.

Re: How to App Spree...Guide?

JHex2 — Fri, 05 Jun 2015 22:17:16 GMT

I always read that Barclay is Inq-sensitive, so you might want to move them up on the list. Never app spree'd before though.

Re: How to App Spree...Guide?

JSS3 — Mon, 08 Jun 2015 16:01:36 GMT

1. IMO. Sprees are best done early in your credit journey when you have atleast 6months of history each time.
2. It helps to know which bureau is pulled for each card(past pulls resulting in denials is a good way to find out)
3. Learn who is inquiry/new account sensitive, combine that with the bureau pull info, then apply in order. Barclays, Citi, Chase, FBNO, and to a degree-BofA are all said to be inquiry/new account sensitive. Cap1, Synchrony, Comenity, and Amex are said not to be.
4. Have ideal utilization(all cards reporting zero except one. One card reporting less than 10%)
5. Find out which banks purportedly give a 2-1(pulls credit once) deal when doing back-to-back apps for that bank(Cap1 and Chase).
6. Keep an eye out for approval amounts and APRs. Good indicator of when to stop.
7. If you are at the beginning of your credit journey, don't apply for the top cards. Get in with a bank with more attainable cards and build a rapport. The latter sprees will get your ideal cards with higher limits as banks are gun shy at first.
8. Check prequal sites to help you decide which cards are attainable for you(Chase, Cap1, and Citi are pretty solid).
9. Apply for all, or most, cards in one day so you don't get rejected for too many new accounts. The only thing creditors can see until the accounts show up, are the inquiries on the bureau they pulled. It's not too telling as they won't know how many new accounts resulted from the inquiries.
10. You can spree again when your reports(AAoA recovers and your tanked scores rise).
11. If rejected, don't shy away from reconning(even more than once for a specific card). If approved, don't shy away from reconning for higher limits(Barclays and Synchrony).
12. Understand that sprees are unusual in credit, and that at any time, your creditors can take adverse action against you(close card/lower limits). Prepare for it. Recon if it occurs. Accept their final decision. Then wait for time to pass. Show good history for a reversal.

My .002

Re: How to App Spree...Guide?

Anonymous — Sat, 06 Jun 2015 18:04:53 GMT

JSS3, thank you for your excellent post. Much appreciated.

Re: How to App Spree...Guide?

JSS3 — Sat, 06 Jun 2015 18:11:00 GMT

@Anonymous wrote:
JSS3, thank you for your excellent post. Much appreciated.

Welcome.

Re: How to App Spree...Guide?

juniornj23 — Sun, 07 Jun 2015 15:43:34 GMT

I just got 11k on my app spree now back to the garden until citi take over costco

Re: How to App Spree...Guide?

Anonymous — Mon, 08 Jun 2015 01:50:53 GMT

Yea, I was wondering when it comes to apping: better to app many banks for a single card/product OR try and app multiple times with a few banks ?? My thoughts are it's best to "get your foot in the door" with a card. You can grow the relationship for 6 months and than app for a 2nd or 3rd. Thoughts ???

Re: How to App Spree...Guide?

TitaniumCash — Mon, 08 Jun 2015 02:16:29 GMT

I don't know about you, but most of the posts I've read with the words "App spree," were usually accompanied by words like, "Whiskey," "alcohol," and "drunk." Good luck with your app spree!

Re: How to App Spree...Guide?

juniornj23 — Mon, 08 Jun 2015 03:04:44 GMT

just app

Re: How to App Spree...Guide?

Anonymous — Sun, 01 May 2016 22:13:18 GMT