topic Re: When will I start getting top tier CC offers? in Credit Cards

When will I start getting top tier CC offers?

acercode — Mon, 14 Nov 2022 14:32:36 GMT

Since I returned to the CC game 6 months ago, after a decade of no credit, I've only been getting offers for subprime CC with $99 AF with no perks or Secured cards. So when can I expect to get offers for top tier cards such as Citibank, Chase or Wells Fargo with $200-300 bonus offers, 3-5% CB and $0 AF especially on Credit Karm and Experian? I did open 10 accounts in the last 6 months, but they are the usual credit builders like Discover, Cap One, Mission Lane, Oportun, Amazon, Kohls, Walgreens, etc.

Re: When will I start getting top tier CC offers?

TiggerDat — Mon, 14 Nov 2022 15:09:35 GMT

It will take a bit of time. With so many new cards your average age of accounts is low, this is a factor that many lenders consider when they offer you credit or prequalifications. It took me a few years of building credit to get the opportunity for the best cards. Don't open anymore cards for a while and let the average age build up. Also keep your credit usage low, mostly important when you are applying for new cards, but some lenders use it to determine pre quals.

Let the new accounts age to be an average of 3-5 years if you can wait.

Get your credit report and score. You can usually get your score from some of the credit cards themself.

When your score gets above 720, then apply for the best cards, but also remember some of the best cards want a higher score.

Remember, be patient, it will take time, probably a few years.

Re: When will I start getting top tier CC offers?

SUPERSQUID — Mon, 14 Nov 2022 15:49:22 GMT

It took 2 years after my bk7 discharge to start getting cards with good rewards, subs , zero bts etc. It would probably be similar if you are at the subprime cc stage, so about 2 years after you jumped back in the credit game. creditors want to see some history to see how you pay and manage the cards you have.

Re: When will I start getting top tier CC offers?

Remedios — Mon, 14 Nov 2022 16:05:34 GMT

@acercode wrote:
Since I returned to the CC game 6 months ago, after a decade of no credit, I've only been getting offers for subprime CC with $99 AF with no perks or Secured cards. So when can I expect to get offers for top tier cards such as Citibank, Chase or Wells Fargo with $200-300 bonus offers, 3-5% CB and $0 AF especially on Credit Karm and Experian? I did open 10 accounts in the last 6 months, but they are the usual credit builders like Discover, Cap One, Mission Lane, Oportun, Amazon, Kohls, Walgreens, etc.

First, you stop applying for cards.

Then you stop applying for cards.

After that, don't apply for cards.

If you started from the scratch (with no negatives) and a few cards, you'd be good to go when your youngest reached about a year.

Since you pretty much shot yourself in the foot by applying for cards you don't need, it going to be a while especially since you seem to be going in reverse. Give it a year from your last application, close cards with AFs so you aren't bleeding money in fees, and just let it go for a while.

You mentioned Chase. Because of how many accounts you opened, two years.

Citi, probably a year or longer because you have a whole litter of new accounts on young profile.

WF, forget about them for 12-18 months

Re: When will I start getting top tier CC offers?

Kforce — Mon, 14 Nov 2022 16:34:55 GMT

@Remedios wrote:
@acercode wrote:
Since I returned to the CC game 6 months ago, after a decade of no credit, I've only been getting offers for subprime CC with $99 AF with no perks or Secured cards. So when can I expect to get offers for top tier cards such as Citibank, Chase or Wells Fargo with $200-300 bonus offers, 3-5% CB and $0 AF especially on Credit Karm and Experian? I did open 10 accounts in the last 6 months, but they are the usual credit builders like Discover, Cap One, Mission Lane, Oportun, Amazon, Kohls, Walgreens, etc.

First, you stop applying for cards.
Then you stop applying for cards.
After that, don't apply for cards.

If you started from the scratch (with no negatives) and a few cards, you'd be good to go when your youngest reached about a year.
Since you pretty much shot yourself in the foot by applying for cards you don't need, it going to be a while especially since you seem to be going in reverse. Give it a year from your last application, close cards with AFs so you aren't bleeding money in fees, and just let it go for a while.

You mentioned Chase. Because of how many accounts you opened, two years.
Citi, probably a year or longer because you have a whole litter of new accounts on young profile.
WF, forget about them for 12-18 months

^^^^ This

Re: When will I start getting top tier CC offers?

FireMedic1 — Mon, 14 Nov 2022 19:18:45 GMT

@acercode wrote:
Since I returned to the CC game 6 months ago, after a decade of no credit, I've only been getting offers for subprime CC with $99 AF with no perks or Secured cards. So when can I expect to get offers for top tier cards such as Citibank, Chase or Wells Fargo with $200-300 bonus offers, 3-5% CB and $0 AF especially on Credit Karm and Experian? I did open 10 accounts in the last 6 months, but they are the usual credit builders like Discover, Cap One, Mission Lane, Oportun, Amazon, Kohls, Walgreens, etc.

Better put the brakes on. You wont see much more than whats coming in now with that many accounts in a short period for a while. Garden till 2025. Bit too much. Rome wasnt built in a day.

Re: When will I start getting top tier CC offers?

SouthJamaica — Mon, 14 Nov 2022 20:31:27 GMT

@acercode wrote:
Since I returned to the CC game 6 months ago, after a decade of no credit, I've only been getting offers for subprime CC with $99 AF with no perks or Secured cards. So when can I expect to get offers for top tier cards such as Citibank, Chase or Wells Fargo with $200-300 bonus offers, 3-5% CB and $0 AF especially on Credit Karm and Experian? I did open 10 accounts in the last 6 months, but they are the usual credit builders like Discover, Cap One, Mission Lane, Oportun, Amazon, Kohls, Walgreens, etc.

It will be a long, long time, since you opened 10 accounts in the last 6 months. Stop applying for things, and give your scores time to recover from the drubbing they've received.

Re: When will I start getting top tier CC offers?

acercode — Mon, 14 Nov 2022 21:26:37 GMT

Good advice everyone. I know I opened too many but I won't lie, if I get another pre-approval I will most likely apply again. I feel like a crack addict except on CC cause I get a high whenever I get approved. Maybe I need help.

Re: When will I start getting top tier CC offers?

OmarGB9 — Mon, 14 Nov 2022 21:44:21 GMT

@acercode wrote:
Good advice everyone. I know I opened too many but I won't lie, if I get another pre-approval I will most likely apply again. I feel like a crack addict except on CC cause I get a high whenever I get approved. Maybe I need help.

A couple of unsolicited tips to help with that:

1. Freeze your reports. This not only makes it so others can't use your file and commit fraud and identity theft, but it also makes it harder for you to apply because you have to manually call in and unfreeze before you apply. Hopefully, this would give you pause and/or extra time to really think whether that next app is worth it.

2. Perhaps step away from the MyFICO forums for a while. Like at least a year.

Finally, if your goal really is to get prime cards, you absolutely HAVE to stop applying for every card under the sun. Let what you have age, and show responsible usage and payment history. Sooner or later even subprime cards will stop approving you, and then you'll really be in trouble.

Re: When will I start getting top tier CC offers?

SouthJamaica — Mon, 14 Nov 2022 21:48:32 GMT

@acercode wrote:
Good advice everyone. I know I opened too many but I won't lie, if I get another pre-approval I will most likely apply again. I feel like a crack addict except on CC cause I get a high whenever I get approved. Maybe I need help.

Don't worry. You won't be getting any preapprovals for cards you'd want to have

Re: When will I start getting top tier CC offers?

Remedios — Mon, 14 Nov 2022 21:56:32 GMT

@acercode wrote:
Good advice everyone. I know I opened too many but I won't lie, if I get another pre-approval I will most likely apply again. I feel like a crack addict except on CC cause I get a high whenever I get approved. Maybe I need help.

Well, in that case, the answer to your question is "Never +/- few weeks"

You are going to get help, just not in a way you think. If you don't know when to use breaks, lenders will help you.

Then later, you'll have the opportunity to apply for something useless, and you will based on what you said above.

So, you will have approvals and highs associated with them, the only thing you won't have are cards you need, but that's just semantics

While I won't close the thread, it's weird when people type in response to a question only to be met with "Yeah, imma bout to keep it up"

You already knew what the problem is and how to solve it before you even asked this question...so my question to you is why even bother with starting this thread

Re: When will I start getting top tier CC offers?

acercode — Mon, 14 Nov 2022 22:20:03 GMT

Actually, I asked cause I didn't know the answers to my question(s). Why would I keep trying pre-approvals for Citi/Chase/WF for months if I knew. I also thought opening a lot accounts would help me get better offers sooner. But now I know. As for admitting I would probably continue applying if I get pre-approved, just being honest. Hopefully, I only get $99 AF offers, which has been the only ones I have rejected.

Re: When will I start getting top tier CC offers?

SUPERSQUID — Tue, 15 Nov 2022 20:42:39 GMT

@acercode wrote:
Good advice everyone. I know I opened too many but I won't lie, if I get another pre-approval I will most likely apply again. I feel like a crack addict except on CC cause I get a high whenever I get approved. Maybe I need help.

Join the club.

Re: When will I start getting top tier CC offers?

FireMedic1 — Tue, 15 Nov 2022 21:05:06 GMT

@acercodeJust like any other high out there. No I dont mean drugs. Applying/Approved for credit, Shopping and buying things not needed, playing lottery tickets with $5 wins, Hoarding, and gambling to name a few. Its basically an addiction. As we all said. For a better word. Stop. Or I'll be seeing you in the Rebuild Sub-Forum crying for help cause you got in too deep down the road with all these cards and high util. And after almost 7 yrs here. Been more than I care to remember who did the same thing in Rebuild as yourself. They always come back. I dont want to see you there. Yes we see others with all the great cards and CL's and want to be like them. Some of us cant for now. In time yes it can be done. Just takes time.

But you wont get there on this downward path if you dont stop. I deal with real addicts every 3rd day of my life. I can say stop no more or you'll be dead next time you call because the Narcan will be too late. I say to you now. Stop. Take the advice and run with it. Come back in a year or two and start a thanks thread and then show us all the good stuff that came your way. We'll be here and you'll get the Congrats and Kudo's you so deserve then.

Re: When will I start getting top tier CC offers?

Guyatthebeach — Tue, 15 Nov 2022 21:35:16 GMT

acercode,

I didn't start getting prime card pre approvals until years after my bankruptcy.

You actually have some solid cards that will grow over time, specifically the Amazon card and Discover card. I personally would freeze all your credit bureau reports until 2025. By then your HP's should be cleared and all your new accounts will be at least 2 years old.

Just give yourself some time.

Guyatthebeach

Re: When will I start getting top tier CC offers?

TheRedHat — Wed, 16 Nov 2022 01:37:57 GMT

@acercode wrote:
Since I returned to the CC game 6 months ago, after a decade of no credit, I've only been getting offers for subprime CC with $99 AF with no perks or Secured cards. So when can I expect to get offers for top tier cards such as Citibank, Chase or Wells Fargo with $200-300 bonus offers, 3-5% CB and $0 AF especially on Credit Karm and Experian? I did open 10 accounts in the last 6 months, but they are the usual credit builders like Discover, Cap One, Mission Lane, Oportun, Amazon, Kohls, Walgreens, etc.

Okay. I am seeing this way too often in these forums, especially from people new to credit card game. Even I was guilty of this because of following the advice of one of the pinned threads over here when I started rebuilding my credit about a year and a half ago. Can we get a new or updated pinned thread on why you shouldn't do this?

Re: When will I start getting top tier CC offers?

Moneyklutz — Wed, 16 Nov 2022 04:44:05 GMT

@acercode wrote:
... So when can I expect to get offers for top tier cards such as Citibank, Chase or Wells Fargo with $200-300 bonus offers, 3-5% CB and $0 AF especially on Credit Karm and Experian?

I'll toss this in in addition to the many wisdoms already mentioned before.

Try to view each card you've aquired and want to aquire as a useful tool rather than just increasing your total credit line. You've planted the seeds and its time to let them grow by making on time PIF payments. It'll build the trust needed and improve your score that each lender looks for when offering the higher end cards that we all see and talk about.

Credit cards are not a measure of my success and it took some time for me to realize that.

Each one I own has a purpose or reward that justifies financially why I seek or keep them. I was so excited about the newest card from USB with a 6/3/1.5% reward rate until the announcement of an annual fee dashed that to the ground.

It made no sense... I let it go and am still waiting patiently for the next offering to happen that fits my spend and lifestyle.

Tools they are...ever tried to pound a nail in with a shovel? you can but....

Re: When will I start getting top tier CC offers?

Anonymalous — Wed, 16 Nov 2022 04:29:10 GMT

@acercode wrote:
Since I returned to the CC game 6 months ago, after a decade of no credit, I've only been getting offers for subprime CC with $99 AF with no perks or Secured cards. So when can I expect to get offers for top tier cards such as Citibank, Chase or Wells Fargo with $200-300 bonus offers, 3-5% CB and $0 AF especially on Credit Karm and Experian? I did open 10 accounts in the last 6 months, but they are the usual credit builders like Discover, Cap One, Mission Lane, Oportun, Amazon, Kohls, Walgreens, etc.

I got my first card, a year and a half ago. After about 4 months, I started getting subprime card offers in the mail. After about 6 months, that dried up and I got a couple low end offers from decent lenders, like the PenFed and Delta gold cards, and a card for a store where I'm a rewards member. Around 12 months, I started getting offers for Discover, some basic Amex cards and Citi cards, and from two banks I have a relationship with. Even now, most of the offers are slightly worse than the public offers (like 9 instead of 15 months of 0% APR).

Generally, it's been slowing going, and I've been far more restrained in opening new cards than you have -- I've only gotten 2 more cards in that 18 month stretch (at the 6 and 9 month marks). I have seen a marked improvement in the cards I'm matched with at CK and Experian recently, but I give that a lot less credence than offers from the banks or credit unions themselves.

My credit scores don't seem to matter. My FICO 8s were in the 760s thru 780s when I first became scoreable at about 6 months, and they're lower now. Age and probably a lack of credit seeking is far more important for new files.

Re: When will I start getting top tier CC offers?

acercode — Wed, 16 Nov 2022 14:02:34 GMT

Thanks for all the advice and tips. I've learned a lot thanks to all the knowledgeable responses. Good to see not everyone's paranoid and think I'm pulling some sininster hoax on the forum with what I thought was an innocent question. I thought paranoia only ran rampant in politico-forums these days but I guess I was wrong.

And just because I know the path (now) doesn't mean I can or will follow it. If I receive a CB/$0 AF offer I will most likely apply. Not because I'm a lying faker but because I'm honest to a fault.

Re: When will I start getting top tier CC offers?

OmarGB9 — Wed, 16 Nov 2022 17:59:19 GMT

@acercode wrote:
Thanks for all the advice and tips. I've learned a lot thanks to all the knowledgeable responses. Good to see not everyone's paranoid and think I'm pulling some sininster hoax on the forum with what I thought was an innocent question. I thought paranoia only ran rampant in politico-forums these days but I guess I was wrong.

And just because I know the path (now) doesn't mean I can or will follow it. If I receive a CB/$0 AF offer I will most likely apply. Not because I'm a lying faker but because I'm honest to a fault.

But if your goal is prime cards, why are you going to continue to accept any and every 0 AF/CB offer creditors dangle in front of you? You're just sabotaging yourself and prolonging reaching your own goal.