topic Re: APP SPREE YIPEE!! in Credit Cards

APP SPREE YIPEE!!

princesstooth — Wed, 05 Jun 2013 14:51:35 GMT

So I finally tired of paying a ridiculous interest rate on my car loan I decided to bite the bullet and re-fi my car. I called DCU and they offered a much lower interest rate. Nice!!! So since they pulled my report I asked about the Visa. SCORE!!! I decided to call my local CU that I also belong to. DCU wasn't going to finance me for the entire amount of my loan, but my local CU was! And they approved me for a Visa also!! So I decided since I was at it to go ahead and see what else I could get approved for

Approved

DCU- $2000

Local CU- $1000

Discover IT-$1200

Barclays-$750

Wal Mart-$700

Chevron-$400

Denied

Chase

Wells Fargo

Amex

Bof A

Citi

Paypal MC

Tried reconning all of the above but no go. Chase almost said yes, try again in 6 months with a little bit longer history of on time payments.

Well it's a start!!! I cancelled my FP cards as their AF was about to hit which just left me with Cap 1 and Victoria's secret.

So off to the garden I go to nuture my new CC's and hopefully some good growth!!! Thanks everyone for all the great info in the board. Couldn't have done it without you!!!

Re: APP SPREE YIPEE!!

rex_03 — Wed, 05 Jun 2013 14:54:33 GMT

Congrats,and off to the garden you go!!

Re: APP SPREE YIPEE!!

Rackham94 — Wed, 05 Jun 2013 15:04:24 GMT

Congrats bro!

What order did you app in?

What AMEX did you app for? AAoA and Inqs?

Re: APP SPREE YIPEE!!

hot4u — Wed, 05 Jun 2013 15:27:37 GMT

see you in the Garden.... Time to grow

Re: APP SPREE YIPEE!!

Anonymous — Wed, 05 Jun 2013 17:14:44 GMT

congrats on the approved cards!

Re: APP SPREE YIPEE!!

Anonymous — Wed, 05 Jun 2013 19:06:57 GMT

Congrats!

Re: APP SPREE YIPEE!!

princesstooth — Wed, 05 Jun 2013 20:28:37 GMT

I applied for DCU first. Then Discover, Chase, Amex, Barclays, walmart, and Chevron was last. The others I tried after Wal mart but before Chevron. I went for the cards I wanted most. My AAoA differs from each credit report. My oldest 2 tradelines are from 1993 that report only to Experian and TransUnion. They both don't report to Equifax for some reason. So it averages between 3-4 yrs. 2 inq's on each when I started.

Re: APP SPREE YIPEE!!

princesstooth — Wed, 05 Jun 2013 20:30:55 GMT

Thanks everyone!!!

Re: APP SPREE YIPEE!!

zeusta20 — Wed, 05 Jun 2013 20:47:39 GMT

Congrats on the approvals!

@rex_03 how do you have a chase sapphire preferred with the limit of 4k??? I thought their minimum was 5k??? That's what I've kept reading at least! Did they approve you for that limit?

Re: APP SPREE YIPEE!!

creditjail — Wed, 05 Jun 2013 20:48:58 GMT

Congrats

Re: APP SPREE YIPEE!!

SnackTrader — Thu, 06 Jun 2013 02:03:18 GMT

This is one of the bigger sprees I have seen on the forums lately. That should tell you something - you now have WAY more INQs than a normal person. Assuming the average forum member has more INQs than the average American, and that you have more INQs than the average forum member, your level of INQs is probably way above the risk tolerance for most banks. 6 months in the garden is the MINIMUM amount for you, and I would recommend at least a year so that the impact from these INQs is eliminated from your score.

Congrats on the cards you got, though!

Re: APP SPREE YIPEE!!

Revelate — Thu, 06 Jun 2013 04:34:53 GMT

@SnackTrader wrote:
This is one of the bigger sprees I have seen on the forums lately. That should tell you something - you now have WAY more INQs than a normal person. Assuming the average forum member has more INQs than the average American, and that you have more INQs than the average forum member, your level of INQs is probably way above the risk tolerance for most banks. 6 months in the garden is the MINIMUM amount for you, and I would recommend at least a year so that the impact from these INQs is eliminated from your score.

Congrats on the cards you got, though!

Depends on what CRA's the inquiries landed on. It's a certainty there's some scattering as there are explicit EQ and TU pullers there, and if any landed on EX at all, it's likely a wash.

If there is any issue, it will likely be on the sheer number of tradelines popping up at once rather than inquiries, but the current approved account list isn't likely to take exception.

I agree though with the gardening suggestion: pretty much all of the "higher quality" lenders denied the application, and this particular result isn't going to make them view the OP more favorably in the near future. Looking at my own sprees (well mini-sprees by my definition), I agree a year may be more appropriate with the possible exception of an Amex application again in December for future backdating goodness.

Likewise, congrats OP! Especially on the DCU auto refinance, slashed my own auto APR by a little better than 2/3 with DCU, highly recommend them for mixed-file refinances (some positive, some negative information on one's CR).

Re: APP SPREE YIPEE!!

princesstooth — Thu, 06 Jun 2013 05:05:39 GMT

No I definately dont plan on apping for at least a year. I'm happy with what I got and am going to sit on everything for awhile. I got 5 inq's each on EQ and TU. EX was 6 all from this app spree.

Re: APP SPREE YIPEE!!

djc1puno — Thu, 06 Jun 2013 05:15:40 GMT

Congrats on ur spree! I'm just buying some time before I do the same. Heh