topic Re: App Spree? Consider this in Credit Cards

App Spree? Consider this

azguy13 — Sat, 28 Sep 2013 07:56:34 GMT

There has been an influx of app sprees lately. It seems that the majority of these app sprees are being done by the newer members on the forum. This may be due to the holidays coming up or just finding a lot of new information on this forum. For all those thinking of going on an app spree for this holiday season, you should consider this:

Whatever you decide on, make sure your report is in order. A few of us were talking today and realized there has been a lot of app'ing with multiple baddies reporting. When I say baddies, I am talking about unpaid collections, CO's, and 120+ day lates currently reporting. I urge you, get your report in order before applying. There is no need to have multiple denials for credit due to what you already know is on your report.

I understand that the holidays can be very stressful on finances. Just please, do not let yourself be denied for reasons that you can possibly fix. It is not worth the hit to your credit and the pure frustration that comes with it.

Also, I am not saying this is what all new members do. I am simply trying to get a message across and if it helps one person then it was worth it.

Stay Classy!

Re: App Spree? Consider this

09Lexie — Sat, 28 Sep 2013 08:06:24 GMT

Besides the usual comments of applying for what you need and not for what you want; don't charge more than what you can afford ie PIF and finally - try not to fall victim to the plethora of 0% promos offers. Before you know it, the time has expired and you are stuck with multiple accounts with 20+% APRS.

Re: App Spree? Consider this

azguy13 — Sat, 28 Sep 2013 08:13:47 GMT

@09Lexie wrote:
Besides the usual comments of applying for what you need and not for what you want; don't charge more than what you can afford ie PIF and finally - try not to fall victim to the plethora of 0% promos offers. Before you know it, the time has expired and you are stuck with multiple accounts with 20+% APRS.

Absolutely. Most cards that offer the 0% promo are good for at least a year before the real APR kicks in. Instead of getting 4 at one time, get one a year or so IF you need it. There is no need for multiple 0% cards anyways. If the CL is less than desireable, then focus on repairing and anging your credit history. I am also a firm believer in growing the CL and not app'ing for new cards. I am almost stressed out because I feel like I am at my max amount of cards I need. If I get a new one, Ia m sure I will replace one that I do not use.

Re: App Spree? Consider this

Anonymous — Sat, 28 Sep 2013 08:24:00 GMT

Very nice points made so far! I just added some new cards, but for the most part I probably will be back to using CSP as my primary card once I meet minimum spending on my new cards for the bonus, unless I'm making use of some specific perks on those cards. So yea.... Doesn't seem to get that interesting to add new cards after a certain point.

Another point I figured I can add: the best way to fix one's utilization is to pay that debt. Juggling balances, adding more CL, or whatever tricks there are, is just a temporary non-sustainable solution.

Re: App Spree? Consider this

azguy13 — Sat, 28 Sep 2013 08:29:57 GMT

@Anonymous wrote:
Very nice points made so far! I just added some new cards, but for the most part I probably will be back to using CSP as my primary card once I meet minimum spending on my new cards for the bonus, unless I'm making use of some specific perks on those cards. So yea.... Doesn't seem to get that interesting to add new cards after a certain point.

Another point I figured I can add: the best way to fix one's utilization is to pay that debt. Juggling balances, adding more CL, or whatever tricks there are, is just a temporary non-sustainable solution.

Fantastic points. I understand a BT to a 0% intro card, but the illusion of paying the debt can get dangerous.

Re: App Spree? Consider this

Anonymous — Sat, 28 Sep 2013 11:16:34 GMT

I am one of those new members that went on an app spree. Finding this forum has been great. I used the information to my favor. However I have no baddies on any of my accounts or reports. My app spree was successful and I'll be the first one to say that I applied for one card too many and got them all. This forum gives you the courage I guess to keep apping. I went until I got denied. I didn't do it for the holidays, I did because I found this forum and said why not my CR looks a lot better than the people I saw on here apping. I have no AAOA but perfect payment history no inquiries and no baddies.

Now I am using the forum to wisely manage all this new credit. And to help where I can

Re: App Spree? Consider this

azguy13 — Sat, 28 Sep 2013 11:31:26 GMT

@Anonymous wrote:
I am one of those new members that went on an app spree. Finding this forum has been great. I used the information to my favor. However I have no baddies on any of my accounts or reports. My app spree was successful and I'll be the first one to say that I applied for one card too many and got them all. This forum gives you the courage I guess to keep apping. I went until I got denied. I didn't do it for the holidays, I did because I found this forum and said why not my CR looks a lot better than the people I saw on here apping. I have no AAOA but perfect payment history no inquiries and no baddies.

Now I am using the forum to wisely manage all this new credit. And to help where I can

Congrats on the approvals. I was more talking about the people that have a lot of repairing to do before they should apply for any credit. You already had yours in line so what I was saying didnt apply to you too much.

You did what I would have done in your situation. Get cards to build your credit profile. Out of curiosity, what cards did you get and why? I am always interested to hear why people choose certain cards.

Re: App Spree? Consider this

Steelersboy — Sat, 28 Sep 2013 12:04:34 GMT

@azguy13 wrote:
@09Lexie wrote:
Besides the usual comments of applying for what you need and not for what you want; don't charge more than what you can afford ie PIF and finally - try not to fall victim to the plethora of 0% promos offers. Before you know it, the time has expired and you are stuck with multiple accounts with 20+% APRS.
Absolutely. Most cards that offer the 0% promo are good for at least a year before the real APR kicks in. Instead of getting 4 at one time, get one a year or so IF you need it. There is no need for multiple 0% cards anyways. If the CL is less than desireable, then focus on repairing and anging your credit history. I am also a firm believer in growing the CL and not app'ing for new cards. I am almost stressed out because I feel like I am at my max amount of cards I need. If I get a new one, Ia m sure I will replace one that I do not use.

I agree. Im going to grow my cards before apping again. I already have seven cards, no need for another right now.

Re: App Spree? Consider this

JonStur — Sat, 28 Sep 2013 13:13:14 GMT

They also must learn to distinguish between "invitation to apply", "pre-selected", and "pre-approval" offers they will soon begin receiving in the mailbox.

Re: App Spree? Consider this

bigblue7722 — Sat, 28 Sep 2013 13:24:44 GMT

@azguy13 wrote:
There has been an influx of app sprees lately. It seems that the majority of these app sprees are being done by the newer members on the forum. This may be due to the holidays coming up or just finding a lot of new information on this forum. For all those thinking of going on an app spree for this holiday season, you should consider this:

Whatever you decide on, make sure your report is in order. A few of us were talking today and realized there has been a lot of app'ing with multiple baddies reporting. When I say baddies, I am talking about unpaid collections, CO's, and 120+ day lates currently reporting. I urge you, get your report in order before applying. There is no need to have multiple denials for credit due to what you already know is on your report.

I understand that the holidays can be very stressful on finances. Just please, do not let yourself be denied for reasons that you can possibly fix. It is not worth the hit to your credit and the pure frustration that comes with it.

Also, I am not saying this is what all new members do. I am simply trying to get a message across and if it helps one person then it was worth it.

Stay Classy!

Great post! When you say 120 day plus lates currently reporting what do you mean by that? I am asking because next month my rehab will be over for my student loan so my must current late would be october 2012 so it would be a year.

Re: App Spree? Consider this

youngandcreditwrthy — Sat, 28 Sep 2013 14:19:42 GMT

I don't really like app sprees surprisingly...
I think you're more likely to get AA if a lender gets wind of it.
Slow and steady wins the race!

Re: App Spree? Consider this

azguy13 — Sat, 28 Sep 2013 14:30:33 GMT

@bigblue7722 wrote:
@azguy13 wrote:
There has been an influx of app sprees lately. It seems that the majority of these app sprees are being done by the newer members on the forum. This may be due to the holidays coming up or just finding a lot of new information on this forum. For all those thinking of going on an app spree for this holiday season, you should consider this:

Whatever you decide on, make sure your report is in order. A few of us were talking today and realized there has been a lot of app'ing with multiple baddies reporting. When I say baddies, I am talking about unpaid collections, CO's, and 120+ day lates currently reporting. I urge you, get your report in order before applying. There is no need to have multiple denials for credit due to what you already know is on your report.

I understand that the holidays can be very stressful on finances. Just please, do not let yourself be denied for reasons that you can possibly fix. It is not worth the hit to your credit and the pure frustration that comes with it.

Also, I am not saying this is what all new members do. I am simply trying to get a message across and if it helps one person then it was worth it.

Stay Classy!
Great post! When you say 120 day plus lates currently reporting what do you mean by that? I am asking because next month my rehab will be over for my student loan so my must current late would be october 2012 so it would be a year.

I was speaking more about a current account reporting as still being 120+ days late. Basically, applying for a credit card from Peter to pay Paul. Now, 120+ is stll a major derog and shouls be constantly GW'd. The trent I was startin to see was people being behind on one debt and still wanting more credit somewhere else. Congrats on getting the loan rehabbed!

Re: App Spree? Consider this

azguy13 — Sat, 28 Sep 2013 14:38:20 GMT

@youngandcreditwrthy wrote:
I don't really like app sprees surprisingly...
I think you're more likely to get AA if a lender gets wind of it.
Slow and steady wins the race!

I agree. Many people see what they want and go for it right away. I also get worried about being AA'd by lenders when they SP and see all the new accounts. I like to plan ahead and work for my apps. Setting a goal makes it more fun. Now, if there is a new offer that is amazing and fits my needs, I will go for it. That is very rare though.

Re: App Spree? Consider this

bigblue7722 — Sat, 28 Sep 2013 14:40:54 GMT

@azguy13 wrote:
@bigblue7722 wrote:
@azguy13 wrote:
There has been an influx of app sprees lately. It seems that the majority of these app sprees are being done by the newer members on the forum. This may be due to the holidays coming up or just finding a lot of new information on this forum. For all those thinking of going on an app spree for this holiday season, you should consider this:

Whatever you decide on, make sure your report is in order. A few of us were talking today and realized there has been a lot of app'ing with multiple baddies reporting. When I say baddies, I am talking about unpaid collections, CO's, and 120+ day lates currently reporting. I urge you, get your report in order before applying. There is no need to have multiple denials for credit due to what you already know is on your report.

I understand that the holidays can be very stressful on finances. Just please, do not let yourself be denied for reasons that you can possibly fix. It is not worth the hit to your credit and the pure frustration that comes with it.

Also, I am not saying this is what all new members do. I am simply trying to get a message across and if it helps one person then it was worth it.

Stay Classy!
Great post! When you say 120 day plus lates currently reporting what do you mean by that? I am asking because next month my rehab will be over for my student loan so my must current late would be october 2012 so it would be a year.
I was speaking more about a current account reporting as still being 120+ days late. Basically, applying for a credit card from Peter to pay Paul. Now, 120+ is stll a major derog and shouls be constantly GW'd. The trent I was startin to see was people being behind on one debt and still wanting more credit somewhere else. Congrats on getting the loan rehabbed!

Thank you its been a long haul but def worth it. I was shocked I was able to get secured cards when I first started out last march. I wish i found this site years ago. I tell everyone about it now.

Re: App Spree? Consider this

azguy13 — Sat, 28 Sep 2013 14:45:39 GMT

@bigblue7722 wrote:
@azguy13 wrote:
@bigblue7722 wrote:
@azguy13 wrote:
There has been an influx of app sprees lately. It seems that the majority of these app sprees are being done by the newer members on the forum. This may be due to the holidays coming up or just finding a lot of new information on this forum. For all those thinking of going on an app spree for this holiday season, you should consider this:

Whatever you decide on, make sure your report is in order. A few of us were talking today and realized there has been a lot of app'ing with multiple baddies reporting. When I say baddies, I am talking about unpaid collections, CO's, and 120+ day lates currently reporting. I urge you, get your report in order before applying. There is no need to have multiple denials for credit due to what you already know is on your report.

I understand that the holidays can be very stressful on finances. Just please, do not let yourself be denied for reasons that you can possibly fix. It is not worth the hit to your credit and the pure frustration that comes with it.

Also, I am not saying this is what all new members do. I am simply trying to get a message across and if it helps one person then it was worth it.

Stay Classy!
Great post! When you say 120 day plus lates currently reporting what do you mean by that? I am asking because next month my rehab will be over for my student loan so my must current late would be october 2012 so it would be a year.
I was speaking more about a current account reporting as still being 120+ days late. Basically, applying for a credit card from Peter to pay Paul. Now, 120+ is stll a major derog and shouls be constantly GW'd. The trent I was startin to see was people being behind on one debt and still wanting more credit somewhere else. Congrats on getting the loan rehabbed!
Thank you its been a long haul but def worth it. I was shocked I was able to get secured cards when I first started out last march. I wish i found this site years ago. I tell everyone about it now.

Honestly, the hardest part is admitting to yourself that your credit needs repair. I know i was in denial when I first started years ago. I would not check my report because I was afraid of what it would say. I was a lurker on this site for years before joining.

Re: App Spree? Consider this

Anonymous — Sat, 28 Sep 2013 15:07:50 GMT

@azguy13 wrote:
@bigblue7722 wrote:
@azguy13 wrote:
@bigblue7722 wrote:
@azguy13 wrote:
There has been an influx of app sprees lately. It seems that the majority of these app sprees are being done by the newer members on the forum. This may be due to the holidays coming up or just finding a lot of new information on this forum. For all those thinking of going on an app spree for this holiday season, you should consider this:

Whatever you decide on, make sure your report is in order. A few of us were talking today and realized there has been a lot of app'ing with multiple baddies reporting. When I say baddies, I am talking about unpaid collections, CO's, and 120+ day lates currently reporting. I urge you, get your report in order before applying. There is no need to have multiple denials for credit due to what you already know is on your report.

I understand that the holidays can be very stressful on finances. Just please, do not let yourself be denied for reasons that you can possibly fix. It is not worth the hit to your credit and the pure frustration that comes with it.

Also, I am not saying this is what all new members do. I am simply trying to get a message across and if it helps one person then it was worth it.

Stay Classy!
Great post! When you say 120 day plus lates currently reporting what do you mean by that? I am asking because next month my rehab will be over for my student loan so my must current late would be october 2012 so it would be a year.
I was speaking more about a current account reporting as still being 120+ days late. Basically, applying for a credit card from Peter to pay Paul. Now, 120+ is stll a major derog and shouls be constantly GW'd. The trent I was startin to see was people being behind on one debt and still wanting more credit somewhere else. Congrats on getting the loan rehabbed!
Thank you its been a long haul but def worth it. I was shocked I was able to get secured cards when I first started out last march. I wish i found this site years ago. I tell everyone about it now.
Honestly, the hardest part is admitting to yourself that your credit needs repair. I know i was in denial when I first started years ago. I would not check my report because I was afraid of what it would say. I was a lurker on this site for years before joining.

Yup guilty here as well

Re: App Spree? Consider this

9CLINE — Sat, 28 Sep 2013 15:20:33 GMT

+1,+1, etc.

So much great advice here on 1 thread how can anyone miss it..

U guys are the best,,I really hope there are plenty of listeners.....

Re: App Spree? Consider this

mongstradamus — Sat, 28 Sep 2013 15:29:48 GMT

@9CLINE wrote:
+1,+1, etc.
So much great advice here on 1 thread how can anyone miss it..
U guys are the best,,I really hope there are plenty of listeners.....

there is some good advice here, i may be one of the guilty ones that app spreed recently. I am going to let all these cards garden for an bit, and then decide next year sometime when my last baddie drops what to do next if i really do need an cash back master card or an travel card like spg or csp

Re: App Spree? Consider this

azguy13 — Sat, 28 Sep 2013 15:35:45 GMT

@mongstradamus wrote:
@9CLINE wrote:
+1,+1, etc.
So much great advice here on 1 thread how can anyone miss it..
U guys are the best,,I really hope there are plenty of listeners.....
there is some good advice here, i may be one of the guilty ones that app spreed recently. I am going to let all these cards garden for an bit, and then decide next year sometime when my last baddie drops what to do next if i really do need an cash back master card or an travel card like spg or csp

The CSP is a great goal to work towards. I have been waiting since January to app for a new auto loan in December for a truck. It can be a pain, but it has given me something to look forward to and save up enough of a down payment to get my payment to wherever I want it

Re: App Spree? Consider this

mongstradamus — Sat, 28 Sep 2013 15:42:44 GMT

@azguy13 wrote:
@mongstradamus wrote:
@9CLINE wrote:
+1,+1, etc.
So much great advice here on 1 thread how can anyone miss it..
U guys are the best,,I really hope there are plenty of listeners.....
there is some good advice here, i may be one of the guilty ones that app spreed recently. I am going to let all these cards garden for an bit, and then decide next year sometime when my last baddie drops what to do next if i really do need an cash back master card or an travel card like spg or csp
The CSP is a great goal to work towards. I have been waiting since January to app for a new auto loan in December for a truck. It can be a pain, but it has given me something to look forward to and save up enough of a down payment to get my payment to wherever I want it

I figure it would be nice to double up Freedom with CSP, but right now i am not 100% sure i need an travel card, since i don't travel that much. maybe few times an year, not sure it would be worth getting an CSP or SPG for that. As of right now i am going to let my cards just start reporting, and will see if i can find an good cash back mastercard. Seems like sallie mae world mastercard seems to be the only option.