topic Re: Want to go on first app spree and need your advice! UPDATE in Credit Cards

Want to go on first app spree and need your advice!

WJL — Fri, 09 Aug 2013 00:31:53 GMT

Hi all! I recently got my utilization down from about 80% to 10% and saw my score go up 52 points (792). I got the alert today and couldn't be happier! I would like to go on my first app spree and selected the following cards:

Discover IT
AMEX Blue
AMEX Cash Back, BoA 123 (this is a PC for my existing generic BoA MC that gets just 1 pt/$)
PenFed Cash Rewards
PenFed Platinum
Capital One Venture
Chase Sapphire

I currently have the following cards:

AMEX Zinc (NPSL and Member since 2002)
BoA ($2,500 and member since 2001)
barclays ($2,500, member 3 yrs)
Orchard Bank > Capital One ($1,000, member 5 yrs)
Macy's ($1,200, member 5 yrs)

Whether it will help or not, I have two auto loans with PenFed with 100% on-time payments (3 yrs).

I just had my credit ran for business-related purpose 2 days ago and want to go on the spree before my score takes a hit for the inquirty. Is my score reflected effective immediately i.e. if I go on the spree today, is 792 what the CC companies will see? And what do you think about my spree list? I really want to extend my credit and have been waiting for this moment for a long time. Will be waiting for your advice! Thank you in advance!

Re: Want to go on first app spree and need your advice!

myjourney — Fri, 09 Aug 2013 00:36:51 GMT

@WJL wrote:
Hi all! I recently got my utilization down from about 80% to 10% and saw my score go up 52 points (792). I got the alert today and couldn't be happier! I would like to go on my first app spree and selected the following cards:

Discover IT
AMEX Blue
AMEX Cash Back, BoA 123 (this is a PC for my existing generic BoA MC that gets just 1 pt/$)
PenFed Cash Rewards
PenFed Platinum
Capital One Venture
Chase Sapphire

I currently have the following cards:
AMEX Zinc (NPSL and Member since 2002)
BoA ($2,500 and member since 2001)
barclays ($2,500, member 3 yrs)
Orchard Bank > Capital One ($1,000, member 5 yrs)
Macy's ($1,200, member 5 yrs)
Whether it will help or not, I have two auto loans with PenFed with 100% on-time payments (3 yrs).

I just had my credit ran for business-related purpose 2 days ago and want to go on the spree before my score takes a hit for the inquirty. Is my score reflected effective immediately i.e. if I go on the spree today, is 792 what the CC companies will see? And what do you think about my spree list? I really want to extend my credit and have been waiting for this moment for a long time. Will be waiting for your advice! Thank you in advance!

What are all 3 scores and how many INQ's in last 6 months?

Re: Want to go on first app spree and need your advice!

Luscher — Fri, 09 Aug 2013 01:06:14 GMT

i would say go for the chase card first then amex then discover then penfed

Re: Want to go on first app spree and need your advice!

koalablue — Fri, 09 Aug 2013 01:09:07 GMT

OP, when you say the Amex Blue and the Amex cash back, do you mean the Blue charge card and then also the BCE or BCP? I would forget the Blue charge card and just get the BCP. If you want MR points, get the PRG which has no fee for the first year. You have a very fine credit score. Depending on your inquiries and AAOA, I think you should do well on your spree. I'd also app for the PenFed cards first, assuming you don't have any inquiries in the last 6 months. PenFed will turn you down if they see a lot (or even a few) of recent inquiries. Best of luck and keep us posted on the results!

Re: Want to go on first app spree and need your advice!

WJL — Fri, 09 Aug 2013 04:22:43 GMT

My PLUS scores are:

Experian 746
Equifax 750
TransUnion 726 (this one should be higher b/c I noticed not all of the CC balance were updated yet)

1 INQ in the last 6 mos.

Am I still in good position to go on the spree?

Re: Want to go on first app spree and need your advice!

myjourney — Fri, 09 Aug 2013 04:27:09 GMT

@WJL wrote:
My PLUS scores are:
Experian 746
Equifax 750
TransUnion 726 (this one should be higher b/c I noticed not all of the CC balance were updated yet)
1 INQ in the last 6 mos.

Am I still in good position to go on the spree?

I can't see any reason why not ...Go for it and good luck

Re: Want to go on first app spree and need your advice! UPDATE

WJL — Mon, 12 Aug 2013 08:40:24 GMT

*UPDATE*
Thanks to all of you, I went 3/3 on my first spree on Saturday!

PenFed Platinum Rewards Visa Signature: $16,500
Discover it: $9,500
AMEX BCE: Have to call later today to find out the limit b/c their New Accounts dept is not open during the weekend.

I now have 2 INQs on my EX and my score went down from 796 > 788. I expect another INQ to be posted and my score will go down a little more.

I am wondering if I should apply for a few more (some combination of Chase Freedom, Chase Sapphire, Citi Thank You Preferred, Citi Simplicity) or to hit the garden until the INQs drop and apply for more. My dilemma of whether to pull the triiger is that I am looking to sell my car and get a lease and/or possibly look to buy a house in the next year or two. What would put me in a better position to get the best possible rates for the car lease and/or mortgage? I also wonder if I'll get less favorable CC offers if I stop my spree now and come back to do it again b/c then my AAoA will be lower, but my credit utilization will be much lower. Hm, what to do?

Re: Want to go on first app spree and need your advice! UPDATE

djc1puno — Mon, 12 Aug 2013 08:53:19 GMT

@WJL wrote:
*UPDATE*
Thanks to all of you, I went 3/3 on my first spree on Saturday!
PenFed Platinum Rewards Visa Signature: $16,500
Discover it: $9,500
AMEX BCE: Have to call later today to find out the limit b/c their New Accounts dept is not open during the weekend.
I now have 2 INQs on my EX and my score went down from 796 > 788. I expect another INQ to be posted and my score will go down a little more.

I am wondering if I should apply for a few more (some combination of Chase Freedom, Chase Sapphire, Citi Thank You Preferred, Citi Simplicity) or to hit the garden until the INQs drop and apply for more. My dilemma of whether to pull the triiger is that I am looking to sell my car and get a lease and/or possibly look to buy a house in the next year or two. What would put me in a better position to get the best possible rates for the car lease and/or mortgage? I also wonder if I'll get less favorable CC offers if I stop my spree now and come back to do it again b/c then my AAoA will be lower, but my credit utilization will be much lower. Hm, what to do?

congrats on your first app spree! success! off to the garden you go

Re: Want to go on first app spree and need your advice! UPDATE

_jb_ — Mon, 12 Aug 2013 14:09:16 GMT

@WJL wrote:

I am wondering if I should apply for a few more (some combination of Chase Freedom, Chase Sapphire, Citi Thank You Preferred, Citi Simplicity) or to hit the garden until the INQs drop and apply for more. My dilemma of whether to pull the triiger is that I am looking to sell my car and get a lease and/or possibly look to buy a house in the next year or two. What would put me in a better position to get the best possible rates for the car lease and/or mortgage? I also wonder if I'll get less favorable CC offers if I stop my spree now and come back to do it again b/c then my AAoA will be lower, but my credit utilization will be much lower. Hm, what to do?

Figure out when you plan to apply for a mortgage. You are going to want to get any CC apps out of the way a year prior to your mortgage to ensure the best possible score when it comes time to shop around. If your mortgage is more than 18 months out, I'd go ahead and let your new accounts/inqs age for 6 months and then grab whichever other cards you like and then wait a year and start shopping for a mortgage. The other option is to just grab the cards now, see a larger drop in your scores, but have 12-18 months for them to rebound.

As for the other CC's you mention, I would check out both of their complete lines of products and decide which will benefit you more. I personally like the Chase Freedom/Sapphire Preferred/Ink combo, as I generally fly United and can rack up the points/miles.

Re: Want to go on first app spree and need your advice! UPDATE

09Lexie — Mon, 12 Aug 2013 16:38:36 GMT

Congrats on your successful spree. As _jb_ stated, narrow down when you would be looking for a mortgage. Personally, I like the Freedom/CSP combo but its up to you to decide if those -or the Citi combo- fits your spending pattern.

Good luck.

Re: Want to go on first app spree and need your advice! UPDATE

myjourney — Mon, 12 Aug 2013 22:11:49 GMT

@WJL wrote:
*UPDATE*
Thanks to all of you, I went 3/3 on my first spree on Saturday!
PenFed Platinum Rewards Visa Signature: $16,500
Discover it: $9,500
AMEX BCE: Have to call later today to find out the limit b/c their New Accounts dept is not open during the weekend.
I now have 2 INQs on my EX and my score went down from 796 > 788. I expect another INQ to be posted and my score will go down a little more.

I am wondering if I should apply for a few more (some combination of Chase Freedom, Chase Sapphire, Citi Thank You Preferred, Citi Simplicity) or to hit the garden until the INQs drop and apply for more. My dilemma of whether to pull the triiger is that I am looking to sell my car and get a lease and/or possibly look to buy a house in the next year or two. What would put me in a better position to get the best possible rates for the car lease and/or mortgage? I also wonder if I'll get less favorable CC offers if I stop my spree now and come back to do it again b/c then my AAoA will be lower, but my credit utilization will be much lower. Hm, what to do?

Congrats I knew you could do it...

IMHO you could have gotten in with Chase as well.....Only 1 card tho of your choice

Re: Want to go on first app spree and need your advice! UPDATE

WJL — Tue, 13 Aug 2013 05:36:35 GMT

@myjourney

Your comment gave me the extra kick and I went for it. $9,000 instant approval! Thank you!

Re: Want to go on first app spree and need your advice!

09Lexie — Tue, 13 Aug 2013 05:40:37 GMT

Woohoo!

Re: Want to go on first app spree and need your advice! UPDATE

myjourney — Tue, 13 Aug 2013 05:52:30 GMT

@WJL wrote:
@myjourney

Your comment gave me the extra kick and I went for it. $9,000 instant approval! Thank you!

Congrats

~~What card did you get?~~ Saw it in your sig Freedom 9K

Lol I knew you had one more left

Now follow my next advice one more time

check into the garden thread right now to raise those seedlig nice and strong

Re: Want to go on first app spree and need your advice! UPDATE

WJL — Tue, 13 Aug 2013 05:50:05 GMT

Haha thanks - it was Chase Freedom. I see the main Garden Club Meeting thread - are there other ones that are good to learn from for first-time gardeners like myself?

Re: Want to go on first app spree and need your advice! UPDATE

myjourney — Tue, 13 Aug 2013 05:55:34 GMT

WJL wrote:

Haha thanks - it was Chase Freedom. I see the main Garden Club Meeting thread - are there other ones that are good to learn from for first-time gardeners like myself?

A full family of knowledgeable gardeners to help 1st timers trust me Lol

Join them

Re: Want to go on first app spree and need your advice! UPDATE

WJL — Tue, 13 Aug 2013 06:13:16 GMT

I have a little business leftover before I officially shut down this spree and hit the garden.

1: I got a CLI for my generic BofA card ($2,500 > $6,500) and then converted it into the BofA Cash Rewards card. I was hoping to get a higher CLI especially with the fact that I've had this card for 12 years. Had it before it was even BofA (anyone remember MBNA?). Is it possible to ask them to recon a CLI? Was hoping to get close to $10K.

2: I requested a CLI for my barclaycard financing visa card which is currently at $2,500. I requested $10K and it is in pending status. They said a decision will be made in the next 48 hours. Hoping for the best.

3: I plan to write to Cap1's CEO to consider a CLI for my Orchard Bank turned Cap1 card. Again, similar theme, I had this card for 7 years and it only has a $1K limit so hopefully I will get a high limit through this attempt.

After these 3 items, I am gardening for an already-committed 2 years.

Does anybody know if it's possible to ask for a recon for the CLI that I was already given?

Re: Want to go on first app spree and need your advice! UPDATE

myjourney — Tue, 13 Aug 2013 06:23:14 GMT

@WJL wrote:
I have a little business leftover before I officially shut down this spree and hit the garden.

1: I got a CLI for my generic BofA card ($2,500 > $6,500) and then converted it into the BofA Cash Rewards card. I was hoping to get a higher CLI especially with the fact that I've had this card for 12 years. Had it before it was even BofA (anyone remember MBNA?). Is it possible to ask them to recon a CLI? Was hoping to get close to $10K. Yes but it will be another HP and you may get it may not
2: I requested a CLI for my barclaycard financing visa card which is currently at $2,500. I requested $10K and it is in pending status. They said a decision will be made in the next 48 hours. Hoping for the best. HP good luck
3: I plan to write to Cap1's CEO to consider a CLI for my Orchard Bank turned Cap1 card. Again, similar theme, I had this card for 7 years and it only has a $1K limit so hopefully I will get a high limit through this attempt. This someone tried yesterday and was told it was to early bummer because if anyone was due she was YMMV
So since you have made all the moves and will be HP already lol
check into the garden they are waiting on you I reserved you a spot....

After these 3 items, I am gardening for an already-committed 2 years.

Does anybody know if it's possible to ask for a recon for the CLI that I was already given?

Re: Want to go on first app spree and need your advice! UPDATE

WJL — Wed, 14 Aug 2013 05:08:50 GMT

@myjourney

Thanks, I decided to leave BofA as is b/c I don't want to use another HP when I almost got 3x CLI anyhow. For the barclaycard, I got a 2x CLI which I'm content with since I'm only going to use this card to buy Apple products when they have the no interest promos. I plan to send the email to CapOne and hope for the best. My first app spree is officially done - time to garden! Thanks again for continuing to reply with your insights. This forum truly rocks.

topic Re: Want to go on first app spree and need your advice! *UPDATE* in Credit Cards

Want to go on first app spree and need your advice!

Re: Want to go on first app spree and need your advice!

Re: Want to go on first app spree and need your advice!

Re: Want to go on first app spree and need your advice!

Re: Want to go on first app spree and need your advice!

Re: Want to go on first app spree and need your advice!

Re: Want to go on first app spree and need your advice! *UPDATE*

Re: Want to go on first app spree and need your advice! *UPDATE*

Re: Want to go on first app spree and need your advice! *UPDATE*

Re: Want to go on first app spree and need your advice! *UPDATE*

Re: Want to go on first app spree and need your advice! *UPDATE*

Re: Want to go on first app spree and need your advice! *UPDATE*

Re: Want to go on first app spree and need your advice!

Re: Want to go on first app spree and need your advice! *UPDATE*

Re: Want to go on first app spree and need your advice! *UPDATE*

Re: Want to go on first app spree and need your advice! *UPDATE*

Re: Want to go on first app spree and need your advice! *UPDATE*

Re: Want to go on first app spree and need your advice! *UPDATE*

Re: Want to go on first app spree and need your advice! *UPDATE*

topic Re: Want to go on first app spree and need your advice! UPDATE in Credit Cards

Re: Want to go on first app spree and need your advice! UPDATE

Re: Want to go on first app spree and need your advice! UPDATE

Re: Want to go on first app spree and need your advice! UPDATE

Re: Want to go on first app spree and need your advice! UPDATE

Re: Want to go on first app spree and need your advice! UPDATE

Re: Want to go on first app spree and need your advice! UPDATE

Re: Want to go on first app spree and need your advice! UPDATE

Re: Want to go on first app spree and need your advice! UPDATE

Re: Want to go on first app spree and need your advice! UPDATE

Re: Want to go on first app spree and need your advice! UPDATE

Re: Want to go on first app spree and need your advice! UPDATE

Re: Want to go on first app spree and need your advice! UPDATE