topic Re: App Spree Results! in Credit Cards

App Spree Results!

Anonymous — Sat, 13 Oct 2012 20:47:06 GMT

Just wanted to share my results of my app spree that I went on this month.

AMEX BCE - Denied

Citibank ThankYou - Denied

BankAmericard Cash Reward - Approved 2K (after a phonecall from a rep)

Chase Freedom - Approved 3k

Discover More - Approved 1.2k

I was actually suprised that I got approved for anything having about 70% utilization and a fico of 668 (Equifax). Unfortunetaly the one I wanted the most was the BCE but unfortunately wasn't approved even though I have an AMEX Plat -___- but I'm laying low for at least 12 months before I apply for it again. 3/5 isn't so bad right? lol

Re: App Spree Results!

Chadsnana — Sat, 13 Oct 2012 20:51:57 GMT

Congrats! I think that Citibank is tightening up on credit so that isn't really a suprise. I am new to this App Spree. I worry about having too many inq. Would you give me a few pointers? Thanks.

Re: App Spree Results!

Anonymous — Sat, 13 Oct 2012 20:57:07 GMT

Thanks! Yeah, I probably wouldn't recommend it but I wanted to open more accounts due to only having 3 open accounts and such a low credit limit across those cards. I think my score took like a 15 point hit.

Re: App Spree Results!

webhopper — Sat, 13 Oct 2012 20:59:23 GMT

Congrats!

Amex likes to see low utilization. Word of advice: pay down balances before reapplying.

Re: App Spree Results!

Anonymous — Sat, 13 Oct 2012 21:03:14 GMT

Yup, that's my main priority. As well as taking care of these new additions. Hopefully I can break 700 by then.

Re: App Spree Results!

webhopper — Sat, 13 Oct 2012 21:04:42 GMT

Good luck!

Re: App Spree Results!

Chadsnana — Sat, 13 Oct 2012 21:06:06 GMT

Thanks for your reply. I am in the same situation. I only had 3 cards with a $6,000 limit total so I have been on an app spree.Since I do not put everyday purchases on my CC I really do not need a lot of credit but it hurts my utilization rate when I do put a major purchase on them. Occasionally, I will purchase something and put it on the card so that the company does not cancel my card due to a lack of use. My husband had 3 companies cancel his cards for non-use.Same thing happened to my inlaws. I have been applying because I want to have more credit availabitly. I am willing to take a short-term ding to get it. I hope to cancel some cards that require an annual fee at some point but I have to apply for new ones first.

Re: App Spree Results!

Anonymous — Sat, 13 Oct 2012 21:18:29 GMT

Yea pretty much identical situations. I am no credit expert by far but I don't see the harm of applying for 3 or 4 cards with good rewards. I feel like the benefit of the higher credit limit out weighs the temporarly hit to your score. Just my opinion though. As far as those AFs... my Amex Plat is due this billing cycle. Looking at $625 due to the authorized users on the account. Thinking long and hard whether I should renew it.

Re: App Spree Results!

Anonymous — Sat, 13 Oct 2012 21:43:31 GMT

@webhopper wrote:
Good luck!

Thanks!!

Re: App Spree Results!

maiden_girl — Sat, 13 Oct 2012 22:05:50 GMT

Awesome app spree! Not bad results at all!

Re: App Spree Results!

nenuco — Sun, 14 Oct 2012 02:53:15 GMT

Re: App Spree Results!

Anonymous — Sun, 14 Oct 2012 05:06:02 GMT

@nenuco wrote:

Haha, lengthy post there nenuco...

Congrats to OP on the approvals!

Re: App Spree Results!

Anonymous — Sun, 14 Oct 2012 05:13:26 GMT

"Heading to the Garden, just have to take a quick detour first -"

so, what's the detour....lol

Re: App Spree Results!

SportBike4Life — Sun, 14 Oct 2012 06:53:08 GMT

Congrats OP!

Re: App Spree Results!

rtw — Sun, 14 Oct 2012 13:09:49 GMT

Congrats!

Re: App Spree Results!

Anonymous — Sun, 14 Oct 2012 13:12:09 GMT

Congrats

Re: App Spree Results!

JonStur — Sun, 14 Oct 2012 14:31:23 GMT

Yea it's time to kick back relax and get that util down to the single digits for a while and your score should look great!!!

Re: App Spree Results!

Anonymous — Sun, 14 Oct 2012 15:02:26 GMT

Congratulations on your approvals, and welcome to the forums.

Re: App Spree Results!

youngandcreditwrthy — Sun, 14 Oct 2012 15:12:33 GMT

Congrats!!!!!

You seem to be on the right track, esp w util.... It's very important to have low util and high limits... So to reduce util , you can do the obvi by paying it off, but growing your lines will help immensely. A good goal I've learned here is truly less than 10%... more like 9%.

:-)

Re: App Spree Results!

Anonymous — Sun, 14 Oct 2012 18:20:09 GMT

Thanks for all the love everyone. These forums have helped so much in getting my credit score on the right track. Into the garden I go. (Had to create a new login because MyFico account didn't link to the other one for some reason)