topic Re: How to go about an app spree? in Credit Cards

How to go about an app spree?

Anonymous — Fri, 04 Jan 2013 19:34:46 GMT

I'm wondering how one plans this out?

I'd really like to get Chase Freedom, BOA Rewards (pre approved), Nordstrom and Saks cards. Going forward I think those are the only other cards I'll ever really want. Would it pay to apply for them all at the same time? Or is there a better way to go about it?

I'm going to wait a few months before applying for any new card/s as I'm waiting for a new card (March 2012) to fall off and I want to pay down my Discover balance a bit. I don't carry balances on any other cards.

Thanks!

Re: How to go about an app spree?

tcbofade — Fri, 04 Jan 2013 20:02:42 GMT

Gee, did you ask the right question for this crowd....

I think the general consensus is that a true app spree involves quite a bit of alcohol and clicking on the "apply now" button until they stop sending you denials and send you a personalized email that says, "What part of NO did you not understand?"

Me, personally?

I would tell you to wait until you're ready (and until your CR's are ready), then apply for the ONE that you most wish to have.

Re: How to go about an app spree?

jsickz32 — Fri, 04 Jan 2013 20:04:55 GMT

I went on a huge app spree, 12 accounts in 1 month, my scores didnt suffer much. Now all those accounts and inqs are gonna age at the same time

Re: How to go about an app spree?

webhopper — Fri, 04 Jan 2013 20:21:09 GMT

I would app in this order:

Chase Freedom,

BOA Rewards

Nordstrom

Saks cards

App all on the same day... and the accounts can age together... App for Chase first because they are sensitive to inquiries

Re: How to go about an app spree?

ALLevesque — Fri, 04 Jan 2013 20:22:12 GMT

I did my first (and probably only) "app spree" the day before christmas.

I have about 13% util, and my TU score was about 714 when I did it.

I applied for the AMEX BCE, approved for 15k CL, Chase Sapphire, approved for 5k CL. I applied for the LL Bean (barclay) card too, but was denied. That's where I ended it.

I was really just looking to get a couple good cards in my profile since most of mine are store cards or Cap one cards.

I also got an auto loan about a week later.

My credit needs a break, so over the next year I plan to bring my util down and allow some inq's to fall off.

Re: How to go about an app spree?

tcbofade — Fri, 04 Jan 2013 20:34:13 GMT

@ALLevesque wrote:

My credit needs a break, so over the next year I plan to bring my util down and allow some inq's to fall off.

That is just about where I am, as well.

Re: How to go about an app spree?

rtw — Fri, 04 Jan 2013 20:44:48 GMT

I did two app sprees last year. In July PSECU 15K, Amex Zync & Amex Gold (1 inq.), Barclays US Airways (denied then approved on recon), and Lowes. I was denied for Chase Freedom. In September, I applied for Chase Sapphire preferred and Freedom again. I got the CSP 5k but was denied for the Freedom. I did the CSP app first. I rounded it out with the Citi HHonors 9K and BOA 1-2-3 10K. Took a break and then was approved in November for Amex SPG and Walmart Discover.

Re: How to go about an app spree?

Anonymous — Fri, 04 Jan 2013 21:14:45 GMT

Thank you everyone for your advice! I don't know if this is silly or not but has anyone tried opening each application in a new window and hitting apply all right around the same time? Just wondering if that might make a difference, lol .

Re: How to go about an app spree?

tcbofade — Fri, 04 Jan 2013 21:16:25 GMT

@Anonymous wrote:
Thank you everyone for your advice! I don't know if this is silly or not but has anyone tried opening each application in a new window and hitting apply all right around the same time? Just wondering if that might make a difference, lol .

As I mentioned earlier, you're in the right place!

Re: How to go about an app spree?

bostonte — Fri, 04 Jan 2013 21:30:16 GMT

@webhopper wrote:
I would app in this order:

Chase Freedom,
BOA Rewards
Nordstrom
Saks cards

App all on the same day... and the accounts can age together... App for Chase first because they are sensitive to inquiries

I would put Nordstrom first, they have a much bigger reputation for being sensitive to inquiries than Chase.

What state are you in OP, maybe it will work out that they'll be on seperate reports and it won't matter.

Re: How to go about an app spree?

Duncanrr — Fri, 04 Jan 2013 21:37:09 GMT

@tcbofade wrote:
Gee, did you ask the right question for this crowd....

I think the general consensus is that a true app spree involves quite a bit of alcohol and clicking on the "apply now" button until they stop sending you denials and send you a personalized email that says, "What part of NO did you not understand?"

Me, personally?

I would tell you to wait until you're ready (and until your CR's are ready), then apply for the ONE that you most wish to have.

I wonder who you are talking about with this statement? Since I got my two secured cards in June I'm on an 8 for 8 app spree success trade with only 1 recon. The simple matter is the only peoptilt hat have told me no during my entire rebuild, including GW, PFD, disputes l, etc, was Verizon. Credit card companies no longer tell me no! And it's a great feeling.

Re: How to go about an app spree?

tcbofade — Fri, 04 Jan 2013 21:51:01 GMT

No one in particular, I promise!

Re: How to go about an app spree?

Duncanrr — Fri, 04 Jan 2013 22:10:37 GMT

. But to OP. it is common practice to app for 2-3 cards you want at the same time then garden.

Re: How to go about an app spree?

Rhaeny — Sat, 05 Jan 2013 00:39:30 GMT

My strategy was to spread out my inquiries over all 3 CRA's. So I looked up which reports the creditors that I wanted pulled. I made my decision based on that. This way I didn't have 15 apps on one report. All credit I applied for was approved except one which was Amex. So my app spree landed me with 6 HP's on two reports and 8 on the third one. But it should be noted that some of those inquiries were from an auto loan. I also opened up 3 or 4 cards using the shopping trick. As I look back I wish I hadn't taken up on all of the shopping cart cards but whats done is done.

Re: How to go about an app spree?

loviedovie — Sat, 05 Jan 2013 01:49:07 GMT

@Rhaeny wrote:
My strategy was to spread out my inquiries over all 3 CRA's. So I looked up which reports the creditors that I wanted pulled. I made my decision based on that. This way I didn't have 15 apps on one report. All credit I applied for was approved except one which was Amex. So my app spree landed me with 6 HP's on two reports and 8 on the third one. But it should be noted that some of those inquiries were from an auto loan. I also opened up 3 or 4 cards using the shopping trick. As I look back I wish I hadn't taken up on all of the shopping cart cards but whats done is done.

Ooooh when you app for a card while you shop they don't do a hard pull?

Re: How to go about an app spree?

Rhaeny — Sat, 05 Jan 2013 02:01:38 GMT

@loviedovie wrote:
@Rhaeny wrote:
My strategy was to spread out my inquiries over all 3 CRA's. So I looked up which reports the creditors that I wanted pulled. I made my decision based on that. This way I didn't have 15 apps on one report. All credit I applied for was approved except one which was Amex. So my app spree landed me with 6 HP's on two reports and 8 on the third one. But it should be noted that some of those inquiries were from an auto loan. I also opened up 3 or 4 cards using the shopping trick. As I look back I wish I hadn't taken up on all of the shopping cart cards but whats done is done.

Ooooh when you app for a card while you shop they don't do a hard pull?

No that's not correct. When you're in the store it is definitely a hard pull. The shopping cart trick is when you go to any of the sites the issue cards from Commenity (formerly WFFNB) and when you go to check out a pre-approved offer pops up. In order for this to work you have to be opted in and your address on your credit report should be your current one. You just put an item in your shopping cart and go to check out. If there is a pre-approval waiting for you it will pop-up to tell you so. You only enter the last 4 digits of your ss# and just a few other details (can't quite remember exactly what they were) and you've got your account. This is all done with a soft pull.

I've read that some people have tried it for months before they got it, but I got all of mine within a day or two of each other. You can check your SP's to see who is checking your credit and that will tell you if you might have a pre-approval waiting for you. If you have to put in your full ss# then that is a hard pull and not a pre-approva. However the pre-approval clearly says "pre-approved" so its not hard to miss. I got The Avenue, Victoria's Secret, Catherines & Woman Within with a total CL of $2K. So these shopping cart accounts with SP's were in addition to the HP's for those inquiries.

Re: How to go about an app spree?

dodgerslv — Sat, 05 Jan 2013 02:22:13 GMT

@Rhaeny wrote:
My strategy was to spread out my inquiries over all 3 CRA's. So I looked up which reports the creditors that I wanted pulled. I made my decision based on that. This way I didn't have 15 apps on one report. All credit I applied for was approved except one which was Amex. So my app spree landed me with 6 HP's on two reports and 8 on the third one. But it should be noted that some of those inquiries were from an auto loan. I also opened up 3 or 4 cards using the shopping trick. As I look back I wish I hadn't taken up on all of the shopping cart cards but whats done is done.

thats an excellent strategy to follow...I just helped my mom with her application spree and did some research on the banks she wanted to apply for (who pulls what CR, who is inquiry sensitive, etc). She applied in this order:

Chase (approved 6k) pulls EXP

American Express BCE (approved 3500) only pulled EXP

Wells Fargo (approved 8500) pulled EQ

all the above i know are inquiry sensitive and since i knew they all pulled EX or EQ (AX may pull all 3 if borderline) we went ahead and submitted all applications one right after another (used 2 PCs...lol).

Then we went with the ones that pull TU most of the time:

Walmart Discover (approved 2k)

Dillards American Express (approved 1500)

the only one that denied her was US Bank (who she also banks with along with WF) so she will be closing her checking and savings account with them.

Thats all the application and cards she wanted. Most likely will not apply for anything else within the next couple of years. So in total she applied for 6 credit cards and it ended with 3 INQs on EX (Chase, AX, US Bank) 1 on EQ (WF) and 2 for TU (Walmart, Dillards).

I prepared her for her application spree (thanks to myfico forums and posters)

Re: How to go about an app spree?

Rhaeny — Sat, 05 Jan 2013 02:35:32 GMT

@dodgerslv wrote:
@Rhaeny wrote:
My strategy was to spread out my inquiries over all 3 CRA's. So I looked up which reports the creditors that I wanted pulled. I made my decision based on that. This way I didn't have 15 apps on one report. All credit I applied for was approved except one which was Amex. So my app spree landed me with 6 HP's on two reports and 8 on the third one. But it should be noted that some of those inquiries were from an auto loan. I also opened up 3 or 4 cards using the shopping trick. As I look back I wish I hadn't taken up on all of the shopping cart cards but whats done is done.
thats an excellent strategy to follow...I just helped my mom with her application spree and did some research on the banks she wanted to apply for (who pulls what CR, who is inquiry sensitive, etc). She applied in this order:

Chase (approved 6k) pulls EXP
American Express BCE (approved 3500) only pulled EXP
Wells Fargo (approved 8500) pulled EQ
all the above i know are inquiry sensitive and since i knew they all pulled EX or EQ (AX may pull all 3 if borderline) we went ahead and submitted all applications one right after another (used 2 PCs...lol).

Then we went with the ones that pull TU most of the time:

Walmart Discover (approved 2k)
Dillards American Express (approved 1500)

the only one that denied her was US Bank (who she also banks with along with WF) so she will be closing her checking and savings account with them.

Thats all the application and cards she wanted. Most likely will not apply for anything else within the next couple of years. So in total she applied for 6 credit cards and it ended with 3 INQs on EX (Chase, AX, US Bank) 1 on EQ (WF) and 2 for TU (Walmart, Dillards).

I prepared her for her application spree (thanks to myfico forums and posters)

This way even if some other CC you want pops up that you want later...or even sooner I don't think it would look so bad versus a gazillion inquiries on one report. However these creditors are not stupid and do know that if they only see 3 inq yet 10 new accounts opened in the last few months that you probably took the HP's on the other reports. And then too all of this ages at the same time so maybe the garden mode isn't so hard for some people.

Re: How to go about an app spree?

dodgerslv — Sat, 05 Jan 2013 02:47:09 GMT

@Rhaeny wrote:
@dodgerslv wrote:
@Rhaeny wrote:
My strategy was to spread out my inquiries over all 3 CRA's. So I looked up which reports the creditors that I wanted pulled. I made my decision based on that. This way I didn't have 15 apps on one report. All credit I applied for was approved except one which was Amex. So my app spree landed me with 6 HP's on two reports and 8 on the third one. But it should be noted that some of those inquiries were from an auto loan. I also opened up 3 or 4 cards using the shopping trick. As I look back I wish I hadn't taken up on all of the shopping cart cards but whats done is done.
thats an excellent strategy to follow...I just helped my mom with her application spree and did some research on the banks she wanted to apply for (who pulls what CR, who is inquiry sensitive, etc). She applied in this order:

Chase (approved 6k) pulls EXP
American Express BCE (approved 3500) only pulled EXP
Wells Fargo (approved 8500) pulled EQ
all the above i know are inquiry sensitive and since i knew they all pulled EX or EQ (AX may pull all 3 if borderline) we went ahead and submitted all applications one right after another (used 2 PCs...lol).

Then we went with the ones that pull TU most of the time:

Walmart Discover (approved 2k)
Dillards American Express (approved 1500)

the only one that denied her was US Bank (who she also banks with along with WF) so she will be closing her checking and savings account with them.

Thats all the application and cards she wanted. Most likely will not apply for anything else within the next couple of years. So in total she applied for 6 credit cards and it ended with 3 INQs on EX (Chase, AX, US Bank) 1 on EQ (WF) and 2 for TU (Walmart, Dillards).

I prepared her for her application spree (thanks to myfico forums and posters)
+1
This way even if some other CC you want pops up that you want later...or even sooner I don't think it would look so bad versus a gazillion inquiries on one report. However these creditors are not stupid and do know that if they only see 3 inq yet 10 new accounts opened in the last few months that you probably took the HP's on the other reports. And then too all of this ages at the same time so maybe the garden mode isn't so hard for some people.

i agree, thats why i told her that no more applications for at least one year. She only had 4 credit cards before this application spree Discover (6k), Macys (2.5k) Citi (7k) and Capital One (5k). All those accounts were more than 2 years old (oldest 9 years). Had a total of 4 inquiries from all 3 CRA. Utility was at 7%. Scores were 722 TU, 725 EQ and EX (American Express pulled)-731

Re: How to go about an app spree?

starry1 — Sat, 05 Jan 2013 03:13:34 GMT

@Duncanrr wrote:

I wonder who you are talking about with this statement? Since I got my two secured cards in June I'm on an 8 for 8 app spree success trade with only 1 recon. The simple matter is the only peoptilt hat have told me no during my entire rebuild, including GW, PFD, disputes l, etc, was Verizon. Credit card companies no longer tell me no! And it's a great feeling.

Are you apping right now?