topic Re: How does anyone wait two years to app. in Credit Cards

How does anyone wait two years to app.

Anonymous — Fri, 25 Sep 2015 19:41:57 GMT

Just wondering how in the world people have the patience to wait two years to apply for new credit, and why. I have a hard time staying in the garden for 2 months. lol

Kudos to those of you who can. And I'm by no means saying I'm addicted to applying like I've seen posted on here before. It just takes a lot more willpower than I have to wait that long between new cards. But then again I'm still building so maybe that's the difference.

Re: How does anyone wait two years to app.

Anonymous — Fri, 25 Sep 2015 19:43:28 GMT

I am going to assume, as this goes for me as well, that it is easier to garden when you are not on these forums. Before I came here, I was app free for almost 4 years.

Re: How does anyone wait two years to app.

kdm31091 — Fri, 25 Sep 2015 19:46:29 GMT

+1 its the forums. If its becoming too tempting, stay off and focus on other areas of life. At the end of the day its just credit cards not life or death. So if the forum is making things worse take a break until you want to app

Re: How does anyone wait two years to app.

Anonymous — Fri, 25 Sep 2015 19:46:33 GMT

Getting into a pattern usually helps. I start to get the bug when I notice a bunch of sizzling bonuses ready to pick or my award point balances start getting low.

Re: How does anyone wait two years to app.

Anonymous — Fri, 25 Sep 2015 19:48:55 GMT

1. My scores suck.

2. Literally was just lectured by Capital One. Summary: Me "Am I in Credit Steps?" Maxx "Yes. Please do not miss the first five payments." Pause. Maxx "Make five payments on time." Pause. Me "AutoPay. Roger that." Brosef mentioned make payments on time 5 times in chat. I get it.

3. I get shamed by my DBF and family. Hardcore.

4. Being picky/snobby about what card I want next.

5. Changing my mind and deciding I want a new car instead.

6. Repeat 3-5.

Re: How does anyone wait two years to app.

Anonymous — Fri, 25 Sep 2015 19:48:32 GMT

I went from January 2010 to February 2014 without apping for anything. But, I've been making up for lost time since.

Re: How does anyone wait two years to app.

TheConductor — Fri, 25 Sep 2015 20:18:48 GMT

@Anonymous wrote:
Just wondering how in the world people have the patience to wait two years to apply for new credit, and why. I have a hard time staying in the garden for 2 months. lol

Kudos to those of you who can. And I'm by no means saying I'm addicted to applying like I've seen posted on here before. It just takes a lot more willpower than I have to wait that long between new cards. But then again I'm still building so maybe that's the difference.

I think this is one of the key factors.

Once you start getting the rewards cards you really like, it's a lot easier to wait.

I'm now on a 2-3 apps per year cycle, typically all on the same day. Sure, I could be a crazy bonus-chasing churner, but I get enough rewards from the cards I have at the level of spending that I have that I don't feel any rush to collect them all.

When I was still rebuilding there was much more of an urge to app my way up the rewards ladder.

Re: How does anyone wait two years to app.

Anonymous — Fri, 25 Sep 2015 20:21:51 GMT

Patience.

Or in my case... ignorance. I had my one and only credit card for about seven years. Wasn't checking my FICO; just paid my bills diligently. Started getting interested in picking up another CC - for emergencies; what if my one credit card didn't work while I was at a restaurant and I didn't have enough cash on me?! It's happened before.

Then I found this website... Found out what my FICO score is and now I monitor it once a month. Also have four CCs now and looking for a fifth next year during summer haha. Five is my max, though. I only use one or two a month.

Work and studies keep me busy enough. If you try to keep track of your progress on a daily basis, you're going to have a bad time. Equally exciting activities: watching paint dry; watching the tree in your backyard grow; snail races (marathon edition).

Set a goal, keep track of it occassionally to make sure you're heading in the right direction, and you'll be pleasantly surprised when you eventually reach it.

Re: How does anyone wait two years to app.

Anonymous — Fri, 25 Sep 2015 20:43:51 GMT

Sizzling bonus.... I am looking for my next one right now. Probably wont app for it until next year though. Not sure what my choice are besides citi premier. I have got a bonus on every card I have opened lately except for the DC.

Life is good just want my accounts to age lol.

I have no idea how they wait 2 years to app. I have only been using credit cards since April 2014! And my care credit since june 2013. So yeah. Basically havent been hardcore with them until May onward.

Re: How does anyone wait two years to app.

chrisw1968uk — Fri, 25 Sep 2015 20:59:22 GMT

Pretty easy for me lol - I like seeing my scores rise a bit everytime an enquiry falls off - i am shooting for 800 and wont get there if I keep taking hard hits - enquiries and lowere aaoa etc

Whatever bonuses you get, you can guarantee that you have do a fair bit of spending to get those bonuses - there is nothing major that i WANT to buy, just to get the bonuses - So i am happy to wait for 18 months or so before i start apping again

Re: How does anyone wait two years to app.

Anonymous — Fri, 25 Sep 2015 21:28:41 GMT

The trick is to find another goal to focus on. No matter where you are in your credit journey applying for new credit every few months is not a good idea. The longer you wait between applications the better your chances are at receiving higher CLs and lower APRs.

Someone has something similar to this in their signature line: Achieving one goal should be a starting point for another. I'm paraphrasing because I don't remember the exact words. Each time I read this quote it resonates with me.

Re: How does anyone wait two years to app.

Anonymous — Fri, 25 Sep 2015 21:42:53 GMT

I would try focusing on something else finance related that is more proactive like building up your nest eggs, 401ks, Roths. etc.... That works for me.

Re: How does anyone wait two years to app.

Anonymous — Fri, 25 Sep 2015 22:24:11 GMT

@beautifulblaquepearl wrote:
The trick is to find another goal to focus on. No matter where you are in your credit journey applying for new credit every few months is not a good idea. The longer you wait between applications the better your chances are at receiving higher CLs and lower APRs.

Someone has something similar to this in their signature line: Achieving one goal should be a starting point for another. I'm paraphrasing because I don't remember the exact words. Each time I read this quote it resonates with me.

you are referring to tuolumne "shortcuts to credit lead to shortcut results"

Re: How does anyone wait two years to app.

Kutuzov — Fri, 25 Sep 2015 23:01:00 GMT

In my case first my credit was bad, so there was no point in apping. Then i apped about once a year, cause i wait for my credit to be good enough to be approved for a cc i really want. I do study the cc before apping to see if its one i will stick with for a while.

Re: How does anyone wait two years to app.

mitchblue — Fri, 25 Sep 2015 23:39:48 GMT

If people are in the mood to app,,forum or not it's happening. If the forum is making you app you're weak minded. No offense.

Re: How does anyone wait two years to app.

Open123 — Fri, 25 Sep 2015 23:48:38 GMT

In my view, really depends on the credit environment. If it's a seller's market (tight), don't app. If it's buyers' market (cheap and free money), app. Until the Issuers decided to up the offers and bonuses, I had gone without an app for 10 or 12 years. Once they offers are gone, I may never app again, until they return.

Re: How does anyone wait two years to app.

EdMan63 — Fri, 25 Sep 2015 23:54:02 GMT

It's actually easy for me. Prior to coming to these forums I had one credit card for many many years. This year I applied for 3 cards and don't plan on apping again for at least another year. I don't need a ton of cards. For many credit is a hobby. For me it's just a tool with certain benefits if used responsibly.

Re: How does anyone wait two years to app.

Anonymous — Sat, 26 Sep 2015 00:07:07 GMT

@mitchblue wrote:
If people are in the mood to app,,forum or not it's happening. If the forum is making you app you're weak minded. No offense.

Re: How does anyone wait two years to app.

Anonymous — Sat, 26 Sep 2015 00:11:03 GMT

@Anonymous wrote:
@mitchblue wrote:
If people are in the mood to app,,forum or not it's happening. If the forum is making you app you're weak minded. No offense.

Lol

Re: How does anyone wait two years to app.

kdm31091 — Sat, 26 Sep 2015 01:31:10 GMT

@Anonymous wrote:
I would try focusing on something else finance related that is more proactive like building up your nest eggs, 401ks, Roths. etc.... That works for me.

I agree. I find that building my savings makes me feel more rewarded than CC rewards ever do.