topic Re: Itching... in Credit Cards

Itching...

Anonymous — Mon, 09 Nov 2015 05:01:25 GMT

I've applied and been approved for Slate, CSP, Marriott, Southwest Premier, Discover It and BCE this year...just received a pre-approval from Citi for 12.9% for the DC card...right now the Discover is my card of choice as I've already hit the all spend bonus' on the rest of the cards...what do I do? I had it in my mind to let all of these age nicely for the next 12 months and once my 0% on my Slate, Discover and BCE is up, then go for another..

Re: Itching...

gdale6 — Mon, 09 Nov 2015 05:30:44 GMT

Hi there OP, I have removed your cross post on this from the applications forum, please refrain from doing this in the future it can lead to confusion by the members and it is not allowed per our TOS. I thank you for your understanding on this and have a great evening

Re: Itching...

Anonymous — Mon, 09 Nov 2015 05:31:28 GMT

I apologize, I didn't know which one to post it in, won't happen again!

Re: Itching...

tntexans72 — Mon, 09 Nov 2015 05:31:34 GMT

You are likely to pull the trigger, just start with the card you need/want the most.

Re: Itching...

Anonymous — Mon, 09 Nov 2015 05:34:47 GMT

Should I apply for the DC? With all of the new accounts this year, is it a good idea?

Re: Itching...

tntexans72 — Mon, 09 Nov 2015 05:42:36 GMT

@Anonymous wrote:
Should I apply for the DC? With all of the new accounts this year, is it a good idea?

YMMV but if your scores and util are good, these banks are competing for your business. Good luck!

Re: Itching...

Anonymous — Mon, 09 Nov 2015 05:54:15 GMT

Scores are 720 range with 6% util. I'm just weary because I was approved for 6 cards this year, 3 of which have 0% still. Is the DC that prime of a card?

Re: Itching...

takeshi74 — Mon, 09 Nov 2015 14:11:16 GMT

Despite the misuse of the word, "prime" isn't relevant to cards or creditors. Borrowers are prime or not.

If you're "itching", responsing to offers, and worrying about whether a card is "prime" or not I highly recommend focusing instead on how well specific products suit your needs/wants. Make sure there's a purpose for each of your cards and that you're not just apping to relieve an itch as it's not a sustainable approach. The itch isn't going to permanently go away by apping.

@Anonymous wrote:
and once my 0% on my Slate, Discover and BCE is up, then go for another..

Also work on budgeting, sticking to your budget and not carrying balances (also not sustainable).

Re: Itching...

kdm31091 — Mon, 09 Nov 2015 14:21:53 GMT

@takeshi74 wrote:
Despite the misuse of the word, "prime" isn't relevant to cards or creditors. Borrowers are prime or not.

If you're "itching", responsing to offers, and worrying about whether a card is "prime" or not I highly recommend focusing instead on how well specific products suit your needs/wants. Make sure there's a purpose for each of your cards and that you're not just apping to relieve an itch as it's not a sustainable approach. The itch isn't going to permanently go away by apping.

@Anonymous wrote:
and once my 0% on my Slate, Discover and BCE is up, then go for another..
Also work on budgeting, sticking to your budget and not carrying balances (also not sustainable).

I agree that it's more important to find out why one keeps needing 0% offers vs worrying about going from one card to the next. What is wrong with your budget that you are always carrying balances/needing 0% offers?

We've all used/needed 0% offers for specific purposes and purchases, and that's totally fine. Just be careful using it as a safety net over and over.

As much as some chide me for saying it, credit cards aren't a game. If you are "itching" to app and have no real need for a card, focus on something else to take attention away from unnecessary apping.

Re: Itching...

Anonymous — Mon, 09 Nov 2015 15:46:31 GMT

Is 6% util. frowned upon? I don't NEED 0% offers, they just happened to come with the cards that I was appoved for this year...thanks for the advice.

Re: Itching...

gdale6 — Mon, 09 Nov 2015 15:52:51 GMT

@Anonymous wrote:
Is 6% util. frowned upon? I don't NEED 0% offers, they just happened to come with the cards that I was appoved for this year...thanks for the advice.

No, if you are trying to maximize your Fico you want 1 card reporting no more than 9% of its individual CL, you need to move the actual percentage around that you let report to find which percentage is best for you. If you are not trying to max your Fico then dont worry about what percentage reports

Re: Itching...

Anonymous — Mon, 09 Nov 2015 15:59:10 GMT

Basically I was just asking if it's a good idea to apply for the offer that I received from Citi for the DC card after applying and being approved for those 6 cards previously mentioned, my QS gets 1.5% so I was already leaning towards no, but I think most people get an itch when they see a nice offer come their way. My plan after being approved for the BCE was to let all of the new cards age and grow with me for at least 12 months...

Re: Itching...

tntexans72 — Mon, 09 Nov 2015 16:19:02 GMT

@Anonymous wrote:
Is 6% util. frowned upon? I don't NEED 0% offers, they just happened to come with the cards that I was appoved for this year...thanks for the advice.

If you don't need 0% offers, start looking at the signup bonus for the airline(s)that you fly. Some of those cards will waived the AF for the 1st year but you have to meet their spending bonus.

Re: Itching...

kdm31091 — Mon, 09 Nov 2015 16:07:56 GMT

@Anonymous wrote:
Basically I was just asking if it's a good idea to apply for the offer that I received from Citi for the DC card after applying and being approved for those 6 cards previously mentioned, my QS gets 1.5% so I was already leaning towards no, but I think most people get an itch when they see a nice offer come their way. My plan after being approved for the BCE was to let all of the new cards age and grow with me for at least 12 months...

It sounds like you really don't need anything else and you got have some new accounts. I'd stick to your gut. Let them age and grow.

Offers will definitely come and go. Sometimes it's best to ignore them.