topic Re: Apping Strategy? in Credit Cards

Apping Strategy?

Anonymous — Tue, 22 Apr 2008 19:08:11 GMT

Ok....bad influences! I am set to close on my mortgage refi on 4/25 at 8:30 am.

As it takes 3 business days to fund a refi (4/30) I was hoping to use my good scores to add to my CC's a possible few OK cards with decent limits so I can say buh bye to my Crap One and HSBC...

Am thinking of BofA (did their pre app site and liked what I saw)

WAMU (has been sending me offers like crazy since I got over the 700 hump)

PenFed (as they seem to pull EQ solely and its my highest)

So, would it be safe to assume I can app these on 5/1

Was thinking of opening all online apps in a seperate window on the PC, filling out all info and then hitting the send on each one really quickly one right after another so that they are all app'ed almost simultaneously.

Am I delusional or will this potentially work?

I know, I know...Bad Apping, Bad Apping! LOL

Re: Apping Strategy?

Anonymous — Tue, 22 Apr 2008 19:27:21 GMT

Oh come on!

I KNOW there are Current and/or Recovering App Addicts out there

Re: Apping Strategy?

Anonymous — Tue, 22 Apr 2008 19:32:37 GMT

Who is applying addict ?

madameozzie wrote:
Oh come on!

I KNOW there are Current and/or Recovering App Addicts out there

Re: Apping Strategy?

unknown_entity — Tue, 22 Apr 2008 19:42:44 GMT

I would avoid WaMu, they use 2 cycle billing and the CS is lacking. PenFed is good. I recently got the Cabela's Club Visa from Worlds Foremost Bank and they pulled EQ, got a 3500 limit with the scores below. B of A is cool if you can get a good rate. Citi pulls EQ almost exclusively.

Re: Apping Strategy?

Anonymous — Tue, 22 Apr 2008 19:44:43 GMT

Thanks Unknown...wasnt really all that up to date on Citi...Ill have to check out the site!

Re: Apping Strategy?

bott6698 — Tue, 22 Apr 2008 19:51:15 GMT

ALL citi cards pulled EX for me. I am in PA and used website. Not one pulled EQ.

Re: Apping Strategy?

unknown_entity — Tue, 22 Apr 2008 19:52:33 GMT

Here is the link to the Cabela's Club Visa app. in case you care to check it out. They are EQ pullers and it's instant online approval. They asked me some questions about my relatives birthdays and ages, I guess to verify if it was me, before the "congratulations you're approved" message came up. I think it's ok to put these on here.

https://www.cabelas.com/cabelas/en/templates/community/aboutus/visa/visa-application.jsp;jsessionid=3KL1F41NFOXWTLAQBBICCNVMCAEFCIWE?_requestid=51006

Re: Apping Strategy?

Anonymous — Tue, 22 Apr 2008 19:57:49 GMT

Thanks again...I just wish WhoGaveMeCredit.com highlighted the actual pulled score used instead of people entering all three scores.. Makes it harder to judge which products pull which scores unless the people actually say which one was pulled when they enter their info.

Re: Apping Strategy?

creditninja9000 — Tue, 22 Apr 2008 20:10:06 GMT

@Anonymous wrote:
Ok....bad influences! I am set to close on my mortgage refi on 4/25 at 8:30 am.
As it takes 3 business days to fund a refi (4/30) I was hoping to use my good scores to add to my CC's a possible few OK cards with decent limits so I can say buh bye to my Crap One and HSBC...
Am thinking of BofA (did their pre app site and liked what I saw)
WAMU (has been sending me offers like crazy since I got over the 700 hump)
PenFed (as they seem to pull EQ solely and its my highest)
So, would it be safe to assume I can app these on 5/1
Was thinking of opening all online apps in a seperate window on the PC, filling out all info and then hitting the send on each one really quickly one right after another so that they are all app'ed almost simultaneously.
Am I delusional or will this potentially work?
I know, I know...Bad Apping, Bad Apping! LOL

That was my strategy, do them all in the same day before the Inqs show up, one of the main reasons I used to get denied was because of "too many recent inq" and it would only be like 5. So app in the same day and chances are maybe they won't notice or even find out that you've been looking for credit elsewhere until later. And I think usually they don't even check Inqs after you've got a card with them, they probably just check ult. on other accounts.

Last thing, I'd say apply in the morning. So then you can call a few hours later to a recon number with the "I was just wondering my application status...." line, I did that and it either resulted in, my app being finished on the spot, or my approval was already finished and they needed info verified before opening the account. I think it depends on the mood of the person you get, some will give you that same wait 7-10, 14, 30 days crap as you got when you applied if it wasn't an instant approval, other will say "lets take a look" and get it out the way. I honestly think they're more likely to approve someone they're actually talking to and it's easier to just hit the DENIED button if it's online they're reviewing later.

Re: Apping Strategy?

Anonymous — Tue, 22 Apr 2008 20:11:53 GMT

Good idea on the apping in th A.M. thing....thanks!

Re: Apping Strategy?

creditninja9000 — Tue, 22 Apr 2008 20:12:05 GMT

BTW I opened a Amex Delta and Citi Diam. Pref. card the same week in March, then a Discover More and Chase Platinum last week, 4 total new accounts in the past 30 days.

And my CreditSecure has 25 inqs from TU while EX and EQ only have 5-7 each. I'm in Illinois.

Re: Apping Strategy?

Anonymous — Tue, 22 Apr 2008 20:12:52 GMT

I'm confused about your plan and how it's affected by your refi. Are you planning on going on an app spree within that 5-day window? If so, why does it matter that you get these new cards before the refi is funded?

Also, what's the purpose of having several apps open and submitting them almost instantaneously? Is it to try and prevent the creditors from seeing each others' inquiries? Inquiries are noted instantly. That most likely won't work unless your apping finger can move faster than electrons.

Re: Apping Strategy?

Anonymous — Tue, 22 Apr 2008 20:15:53 GMT

Cheddar, well, I want to wait til after my refi is funded(takes 3 business days and dont want the mortgage co. to come back in the three days and see that I went on a mini app spree)

I just want to be able to maximize the availablility of my current good scores befoer the app hits drop it a bit is all.

Sadly, dont know how fast the inq's post when apping-just thought it might be a bit better looking if everything were tryng to go thru at once rather than a few hours or days apart.

And no, my computer is fast but not nanosecond fast!

Re: Apping Strategy?

unknown_entity — Tue, 22 Apr 2008 20:16:22 GMT

cheddar wrote:

That most likely won't work unless your apping finger can move faster than electrons.

That's funny!!!

One can get 3 new cards with only one pull from each CRA if they pick and choose carefully.

Re: Apping Strategy?

creditninja9000 — Tue, 22 Apr 2008 20:20:01 GMT

With that being said, is the inq something that goes on you CR the moment you hit the button for the app request? Also, once you do an app, they can only see you CR the way it was on the day you applied/ the day their inq reports right?

Re: Apping Strategy?

Anonymous — Tue, 22 Apr 2008 20:22:39 GMT

OK, I see. So you want to get the new cards after the refi is funded. Definitely a good call!

I agree with u_e. Instead of trying to beat the inquiries, it's probably a better idea to plan your apps so the pulls are spread across CRAs. You could even get SIX new cards this way if you plan it right. Most creditors won't care that you have a new inquiry from earlier the same day, as long as you don't have too many altogether. Just make sure to apply for the most inquiry-sensitive issuers before the others.

Re: Apping Strategy?

unknown_entity — Tue, 22 Apr 2008 20:24:55 GMT

Yes the inquiry is recorded instantly for the next puller of your credit to see. Once a CCC pulls the report, that's the report they see for evaluating you. They can only see an updated version if they grant you credit or you reapply.

Message Edited by unknown_entity on 04-22-2008 04:24 PM

Re: Apping Strategy?

bott6698 — Tue, 22 Apr 2008 20:24:29 GMT

The moment you hit and apply for new app. My score dropped every app. I pulled my score after every ap just to see what happened and each time it was lower so inq's count against your score immediately but that is a great idea lol

Re: Apping Strategy?

Anonymous — Tue, 22 Apr 2008 20:26:32 GMT

mekmek86 wrote:
With that being said, is the inq something that goes on you CR the moment you hit the button for the app request? Also, once you do an app, they can only see you CR the way it was on the day you applied/ the day their inq reports right?

Well, not the moment you hit the button exactly. When you hit the button, the network latency that is simply a part of the Internet will make it less than instant, but as soon as the issuer's website gets notification that you hit the button, they will request your report from the CRA. Once the CRA receives that request, the inquiry is noted in your report virtually instantly.

Message Edited by cheddar on 04-22-2008 01:26 PM

Re: Apping Strategy?

unknown_entity — Tue, 22 Apr 2008 20:27:43 GMT

bott6698 wrote:
The moment you hit and apply for new app. My score dropped every app. I pulled my score after every ap just to see what happened and each time it was lower so inq's count against your score immediately but that is a great idea lol

LOL, My score stopped dropping because of inquiries. I guess I have so many that it is now a fraction of a point deduction for me.