topic Re: App Spree/ thoughts and suggestions in Credit Cards

App Spree/ thoughts and suggestions

Anonymous — Fri, 12 Jul 2013 07:36:53 GMT

Long time lurker, first time poster. I admire all you guys and believe I have learned a lot.

So im only 23 and for the longest time had just a BofA student card with $1k limit so the other day I figure why not do a spree and see what we come up with. I open my USAA Oct '12($4k) and was approved for Disc IT($4k) last month.

Approved:

Chase Slate- $2.k

USAA World-$7.5k

CLI increase on BofA from $1k to $2k

Denied:

Citi TYP

Cap1 Venture

So i know I'll be taking a hit but as I dont have any big purchases planned for at least 12months I figured Id garden and come out on the up and up. So my question to all you guys is on the Chase what are your thoughts on when activating asking for an increase of $3k to "take advantage of their BT offer" because i remember my email saying that if the balance was insufficient to discuss it when activating. I dont actually have any debt to transfer. I just was wondering if that would work to have them CLI right off the bat. Also do you think its worth recon'ing the citi and Cap1 cards. My util is super low I have 1% on my BofA (myFICO costs) and about 13% on my IT that will be paid off... today actually( I hope its everyones pay day). Any constructive critism, thoughts, suggestions would be much appreciated. Thanks for all the help you've already bestowed upon me.

Re: App Spree/ thoughts and suggestions

09Lexie — Fri, 12 Jul 2013 07:00:55 GMT

Welcome to the forum!

Congrats on your approvals thus far. Cap1 Venture usually requires a $5k CL but that's a YMMV. Any reason why you didn't try for CitiForward, if you are still a student? What cc would you be doing a BT on?

Re: App Spree/ thoughts and suggestions

Anonymous — Fri, 12 Jul 2013 07:34:43 GMT

Im not actually a student anymore, Ive just had the student card since 08 and i dont want to close it because of my AAoA already gets the best of me as it is. As far as Citi goes i did the pre apporval and it gave me the TYP, Simplicity, and another one I cant remember, but the TYP looked most appealing so i went for it. I dont actually need to do a BT, im just wondering if when I activate my Chase card and bring up that I want to "do a BT of $3k" if they maybe give me a $3k increase to bring me to a total of $5.5k. I dont have any debt to transfer Im just wondering if they buy that as a reason to CLI right off the bat.

Re: App Spree/ thoughts and suggestions

09Lexie — Fri, 12 Jul 2013 08:07:24 GMT

The pre-qual for Citi is probably what you saw...'you've been selected to apply'. What were the reasons Citi denied you?

Re: App Spree/ thoughts and suggestions

Anonymous — Fri, 12 Jul 2013 08:15:43 GMT

For Citi I went online and filled out the pre-approval thing they have and those 3 cards are what came up and then i applied. Pre approved or pre selected however they word it. I havent received the letter yet but Im fairly certain its due to inquires. Thats why Im wondering if its worth a recon.

Re: App Spree/ thoughts and suggestions

09Lexie — Fri, 12 Jul 2013 08:23:51 GMT

There is a difference between the two but if you've been aaping for a lot of cc's recently chances are you look risky. It is always worth it to try a recon because you've taken the inq. Citi and Cap 1 just are not very recon friendly and it may result in additional inq's.

Re: App Spree/ thoughts and suggestions

Anonymous — Fri, 12 Jul 2013 18:38:02 GMT

So called Citi to see what kinda trouble i could muster up. Turns out I was approved for TYP the whole time. I guess when I submitted somehow 2 applications went through. The first one was approved for $4.5k and i received the second that was denied due to multiple application. So long story short I was approved for the Citi TYP after all and will have my card in 7 days. So no I truly feel this hit ill take will be worth the $15k i gained.

Re: App Spree/ thoughts and suggestions

09Lexie — Fri, 12 Jul 2013 19:46:45 GMT

Congrats!

Re: App Spree/ thoughts and suggestions

Capya — Fri, 12 Jul 2013 19:59:49 GMT

That was a good run for ya congratulations! Maybe ask BofA for a product change to a rewards card before you're done?

Re: App Spree/ thoughts and suggestions

Anonymous — Fri, 12 Jul 2013 20:09:55 GMT

I thought about product changing my student card but i really card afford to lose an account with 5 years history. My AAoA is already average about 1.9 years. Lose that and Im suckin'.

Re: App Spree/ thoughts and suggestions

Anonymous — Fri, 12 Jul 2013 20:21:52 GMT

@Anonymous wrote:
I thought about product changing my student card but i really card afford to lose an account with 5 years history. My AAoA is already average about 1.9 years. Lose that and Im suckin'.

Even if you close a card, it continues to report for ~ 10 years, it's calculated on all accounts, not just open ones.

And, more importantly, the whole point of product changing is that it DOES keep the history, the new card replaces the old but the date etc is based on the old card. The only reason for not doing this is to get a bonus for a new card, when you PC, you (usually) don't get the bonus associated with the new card.

Re: App Spree/ thoughts and suggestions

Anonymous — Fri, 12 Jul 2013 20:30:35 GMT

Well then I'll definitely have to look into it. I mainly just use the card for little reoccurring payments(myFICO, netflix, etc.) so that it shows some usage but i would definitely like a better card in its place. So if it'll keep the history ill have to try and also pull that off.