topic Re: I got 3 Truist Credit Cards this Morning It may be time to change Banks in Rebuilding Your Credit

I got 3 Truist Credit Cards this Morning It may be time to change Banks

WinningEveryday — Wed, 09 Feb 2022 17:16:27 GMT

About 10 days ago I went to Chase to apply for 2 credit cards one personal and one business. I currently have a lot of money in there. I heard Chase was a relationship bank. So we will see. There are datapoints that a strong existing relationship can get you around the 5/24 rule. So I am just waiting on the mail man - should come today or tomorrow.

I applied online for Truist Credit cards this morning and it said I was preapproved for 5 cards- so I rolled the dice it was a soft pull to check.

I got all 3 I applied for $2500 limits on all. I was reading one of the cards was tied to your banking relationship. If Chase doesnt give me the credit cards I am moving my money to Truist. because they are giving me credit that I need. I dont carry balances. I use my credit card like a debit card making many payments a month because of the low limits.

I have been with Chase 7 years and they closed my credit card - YEP! Never late, never carried a balance it was because of the other crap on my credit report.

I need more credit cards so my score can go up! That is my issue right now and it is challenging with my scores being right at 650 across the board my Equifax shot up 20 points today- why I have no clue. Perhaps age.

I think because Trusiit is just opening up and merging there is opportunity there for I will see what they pulled- just pulled my reports all of this was done on a soft pull!!! So in a few minutes I have more credit with Truist than Capital One $7500 verus $6250 after 3 Years!

So I am currenlty spending a lot of money on my Cap One cards to get a credit limit increase. I do a credit limit increase every month. The last card I go in Oct I have spent $7000 a month on since I had it. On the 22 of this month will be 5 months I keep getting the account is too new message not what I used to get because I have cleaned up my reports quite a bit.

I have 18 primary tradeline reporting now.

I will have 22 in about a month once the Apple Card and the 3 Truist Card start reporting!!! Today was a good day. The Play with Truist is get as many cards as I can and in about 6 months combine the credit card limit to one card. I hope that works

Re: I got 3 Truist Credit Cards this Morning It may be time to change Banks

dragontears — Wed, 09 Feb 2022 17:20:43 GMT

@WinningEveryday wrote:
About 10 days ago I went to Chase to apply for 2 credit cards one personal and one business. I currently have a lot of money in there. I heard Chase was a relationship bank. So we will see. There are datapoints that a strong existing relationship can get you around the 5/24 rule. So I am just waiting on the mail man - should come today or tomorrow.

I applied online for Truist Credit cards this morning and it said I was preapproved for 5 cards- so I rolled the dice it was a soft pull to check.

I got all 3 I applied for $2500 limits on all. I was reading one of the cards was tied to your banking relationship. If Chase doesnt give me the credit cards I am moving my money to Truist. because they are giving me credit that I need. I dont carry balances. I use my credit card like a debit card making many payments a month because of the low limits.

I have been with Chase 7 years and they closed my credit card - YEP! Never late, never carried a balance it was because of the other crap on my credit report.

I need more credit cards so my score can go up! That is my issue right now and it is challenging with my scores being right at 650 across the board my Equifax shot up 20 points today- why I have no clue. Perhaps age.

I think because Trusiit is just opening up and merging there is opportunity there for I will see what they pulled- just pulled my reports all of this was done on a soft pull!!! So in a few minutes I have more credit with Truist than Capital One $7500 verus $6250 after 3 Years!

So I am currenlty spending a lot of money on my Cap One cards to get a credit limit increase. I do a credit limit increase every month. The last card I go in Oct I have spent $7000 a month on since I had it. On the 22 of this month will be 5 months I keep getting the account is too new message not what I used to get because I have cleaned up my reports quite a bit.
I have 18 primary tradeline reporting now.

I will have 22 in about a month once the Apple Card and the 3 Truist Card start reporting!!! Today was a good day. The Play with Truist is get as many cards as I can and in about 6 months combine the credit card limit to one card. I hope that works

Congratulations on your approvals but you are misinformed if you think that you need more cards to increase your scores, if you already have 19 open accounts more cards most likely will drop your scores due to AAOA changes (YMMV).

Re: I got 3 Truist Credit Cards this Morning It may be time to change Banks

gdale6 — Wed, 09 Feb 2022 17:32:22 GMT

Initially your Fico will most likely be lowered temprarily for the inquiry and new account hit. As already stated your AAoA is going to change. Grats to all your luck with Truist and yeah if a bank isnt working for you then by all means move to one that will work for you.

Re: I got 3 Truist Credit Cards this Morning It may be time to change Banks

WinningEveryday — Wed, 09 Feb 2022 17:33:14 GMT

@dragontears wrote:
@WinningEveryday wrote:
About 10 days ago I went to Chase to apply for 2 credit cards one personal and one business. I currently have a lot of money in there. I heard Chase was a relationship bank. So we will see. There are datapoints that a strong existing relationship can get you around the 5/24 rule. So I am just waiting on the mail man - should come today or tomorrow.

I applied online for Truist Credit cards this morning and it said I was preapproved for 5 cards- so I rolled the dice it was a soft pull to check.

I got all 3 I applied for $2500 limits on all. I was reading one of the cards was tied to your banking relationship. If Chase doesnt give me the credit cards I am moving my money to Truist. because they are giving me credit that I need. I dont carry balances. I use my credit card like a debit card making many payments a month because of the low limits.

I have been with Chase 7 years and they closed my credit card - YEP! Never late, never carried a balance it was because of the other crap on my credit report.

I need more credit cards so my score can go up! That is my issue right now and it is challenging with my scores being right at 650 across the board my Equifax shot up 20 points today- why I have no clue. Perhaps age.

I think because Trusiit is just opening up and merging there is opportunity there for I will see what they pulled- just pulled my reports all of this was done on a soft pull!!! So in a few minutes I have more credit with Truist than Capital One $7500 verus $6250 after 3 Years!

So I am currenlty spending a lot of money on my Cap One cards to get a credit limit increase. I do a credit limit increase every month. The last card I go in Oct I have spent $7000 a month on since I had it. On the 22 of this month will be 5 months I keep getting the account is too new message not what I used to get because I have cleaned up my reports quite a bit.
I have 18 primary tradeline reporting now.

I will have 22 in about a month once the Apple Card and the 3 Truist Card start reporting!!! Today was a good day. The Play with Truist is get as many cards as I can and in about 6 months combine the credit card limit to one card. I hope that works
Congratulations on your approvals but you are misinformed if you think that you need more cards to increase your scores, if you already have 19 open accounts more cards most likely will drop your scores due to AAOA changes (YMMV).

We will see. If I can get Discover off my scores will hit 760 across the board working on a very spefic disupute letter

Re: I got 3 Truist Credit Cards this Morning It may be time to change Banks

Red1Blue — Wed, 09 Feb 2022 17:49:53 GMT

Hi @WinningEveryday @congratulations for your Truist cards approval. I thought Truist is Geo Fenced. Is it true?

Re: I got 3 Truist Credit Cards this Morning It may be time to change Banks

WinningEveryday — Wed, 09 Feb 2022 17:50:35 GMT

@gdale6 wrote:
Initially your Fico will most likely be lowered temprarily for the inquiry and new account hit. As already stated your AAoA is going to change. Grats to all your luck with Truist and yeah if a bank isnt working for you then by all means move to one that will work for you.

My score has gone up almost 200 points from adding new accounts so there is that. Well I am not applying for anything else this year - unless I can get Discover off. Then I will apply for 7 cards and then chill of a year.

Re: I got 3 Truist Credit Cards this Morning It may be time to change Banks

RSX — Wed, 09 Feb 2022 20:34:42 GMT

Congrats on the Truist cards!

i think i have read that Chase doesnt like you to get new cards right after you get a Chase card so if you do get approved for a Chase CC - it may get shut down, when they check next month and see 3 or 4 new CC's so you may be ok if they deny it sooner, rather than closing it on you later - since it sounds like they have already done that to you once with that many cards, i would continue what you have been doing with the Cap1 and see if you can grow it - then move all your spend to another one you want a CLI on

Re: I got 3 Truist Credit Cards this Morning It may be time to change Banks

WinningEveryday — Wed, 09 Feb 2022 20:20:06 GMT

@Red1Blue wrote:
Hi @WinningEveryday @congratulations for your Truist cards approval. I thought Truist is Geo Fenced. Is it true?

Not Sure I am in Georgia- thanks !!!

Re: I got 3 Truist Credit Cards this Morning It may be time to change Banks

Red1Blue — Wed, 09 Feb 2022 18:28:14 GMT

I checked the apply and it said they do not offer credit cards in my zip code. They are geo fenced.

Re: I got 3 Truist Credit Cards this Morning It may be time to change Banks

Red1Blue — Wed, 09 Feb 2022 18:44:40 GMT

Hi @WinningEveryday I read in one of your posts above, why would you want to apply for 7 cards?

Re: I got 3 Truist Credit Cards this Morning It may be time to change Banks

FinStar — Wed, 09 Feb 2022 20:32:48 GMT

@WinningEveryday wrote:
I got all 3 I applied for $2500 limits on all. I was reading one of the cards was tied to your banking relationship. If Chase doesnt give me the credit cards I am moving my money to Truist. because they are giving me credit that I need.

I have been with Chase 7 years and they closed my credit card - YEP! Never late, never carried a balance it was because of the other crap on my credit report.

I need more credit cards so my score can go up! That is my issue right now and it is challenging with my scores being right at 650 across the board my Equifax shot up 20 points today- why I have no clue. Perhaps age.

I think because Trusiit is just opening up and merging there is opportunity there for I will see what they pulled- just pulled my reports all of this was done on a soft pull!!! So in a few minutes I have more credit with Truist than Capital One $7500 verus $6250 after 3 Years!

I will have 22 in about a month once the Apple Card and the 3 Truist Card start reporting!!! Today was a good day. The Play with Truist is get as many cards as I can and in about 6 months combine the credit card limit to one card. I hope that works

Not to foil your potential plans, but Truist does not reallocate limits, does not product change nor combine accounts. This was their policy even before their merger. So, keep this in mind for your long term strategy with Truist. Also, no SP CLIs, they're HP.

As far as adding "more credit cards so your score goes up" is actually counterintuitive. For one, when all the new cards begin reporting, your AAoA will definitely be impacted (depending on your credit scorecard and overall profile). So, scores wil eventually normalize and recover over a period of time, but the AAoA damage will be evidenced first.

Re: I got 3 Truist Credit Cards this Morning It may be time to change Banks

WinningEveryday — Wed, 09 Feb 2022 20:47:14 GMT

@Red1Blue wrote:
Hi @WinningEveryday I read in one of your posts above, why would you want to apply for 7 cards?

To keep utilitzation down. I got 17 personal credit cards so this will take me to 20 and I got 5 business credit cards. The 7 I want are

Chase Sapphire, American Express Gold, American Express Blue Cash, American Express Delta Platinum, Charles Schwab American Express Platinum ,Chase Ink, Chase Ink 2

Once I get better cards I will start closing all of the low limit card I got- they make up about 10 - credit limits from $300 - $1100 and they will never grow into anything meaningful- so I am swamping them out. I apply for so many at the same time so they can age together in one big block.

Re: I got 3 Truist Credit Cards this Morning It may be time to change Banks

RSX — Wed, 09 Feb 2022 21:02:54 GMT

to keep Utilization down, you should only spend on a couple of the cards and pay them off

might as well start closing those $300-$1100 cards now - this will give you less to spread money across and they will stay on your reports for up to 10 years

though some have no problem managing 20+ CC's, it can become a lot of work - and you have 4 new ones to manage

at some point you are getting the lower limit cards, because of the Age of all your accounts and what must be a fair amount of Inquiries

not saying the $2500 CL are bad - but the other ones may have been due to the volume you were applying for at the time

if you want the Chase Sapphire, i believe it starts at $5k, and you arent close to that with your most recent cards

i think you should bail on your plan for 7 new cards for at least 13 months - this will give you the best chance to start getting the higher limit cards that you are looking at

Re: I got 3 Truist Credit Cards this Morning It may be time to change Banks

WinningEveryday — Thu, 10 Feb 2022 01:05:20 GMT

@RSX wrote:
Congrats on the Truist cards!

i think i have read that Chase doesnt like you to get new cards right after you get a Chase card so if you do get approved for a Chase CC - it may get shut down, when they check next month and see 3 or 4 new CC's so you may be ok if they deny it sooner, rather than closing it on you later - since it sounds like they have already done that to you once with that many cards, i would continue what you have been doing with the Cap1 and see if you can grow it - then move all your spend to another one you want a CLI on

Nothing in the mail today. I got a lot of money in a chase account they deny me I am gone. They closed down the account because of my credit issues not because I had a lot of cards. I was never late. Never went over my limits. Never carried a balance. They closed the card because of my other relationships which have all been repaired. To be honest this is the most credit cards I ever had in my life and the vast majority I don't use.

Right now I am carry all of my Cap One cards and use them quite a bit so on the 23 I am going to request a credit limit increase on the newest one and see what happens.

Re: I got 3 Truist Credit Cards this Morning It may be time to change Banks

WinningEveryday — Thu, 10 Feb 2022 01:05:46 GMT

@Red1Blue wrote:
I checked the apply and it said they do not offer credit cards in my zip code. They are geo fenced.

Sorry to hear that!

Re: I got 3 Truist Credit Cards this Morning It may be time to change Banks

FireMedic1 — Thu, 10 Feb 2022 10:36:48 GMT

@WinningEveryday wrote:
About 10 days ago I went to Chase to apply for 2 credit cards one personal and one business. I currently have a lot of money in there. I heard Chase was a relationship bank. So we will see. There are datapoints that a strong existing relationship can get you around the 5/24 rule. So I am just waiting on the mail man - should come today or tomorrow.

I applied online for Truist Credit cards this morning and it said I was preapproved for 5 cards- so I rolled the dice it was a soft pull to check.

I got all 3 I applied for $2500 limits on all. I was reading one of the cards was tied to your banking relationship. If Chase doesnt give me the credit cards I am moving my money to Truist. because they are giving me credit that I need. I dont carry balances. I use my credit card like a debit card making many payments a month because of the low limits.

I have been with Chase 7 years and they closed my credit card - YEP! Never late, never carried a balance it was because of the other crap on my credit report.

I need more credit cards so my score can go up! That is my issue right now and it is challenging with my scores being right at 650 across the board my Equifax shot up 20 points today- why I have no clue. Perhaps age.

I think because Trusiit is just opening up and merging there is opportunity there for I will see what they pulled- just pulled my reports all of this was done on a soft pull!!! So in a few minutes I have more credit with Truist than Capital One $7500 verus $6250 after 3 Years!

So I am currenlty spending a lot of money on my Cap One cards to get a credit limit increase. I do a credit limit increase every month. The last card I go in Oct I have spent $7000 a month on since I had it. On the 22 of this month will be 5 months I keep getting the account is too new message not what I used to get because I have cleaned up my reports quite a bit.
I have 18 primary tradeline reporting now.

I will have 22 in about a month once the Apple Card and the 3 Truist Card start reporting!!! Today was a good day. The Play with Truist is get as many cards as I can and in about 6 months combine the credit card limit to one card. I hope that works

As mentioned up-thread. Your score is never going to go up if you keep getting more accounts. And you want to get 7 more cards after this spree? Time to hit the brakes and let all these new accounts age. And the almost 6 new accounts hitting your reports possibly? That 650 score will stay there for a long while. Least wait until your in the 700's. Seen this movie before. Give me more! Time to take a break until 2023. Chill for a while. More credit doesnt mean higher scores. Time gets you higher scores.

Re: I got 3 Truist Credit Cards this Morning It may be time to change Banks

WinningEveryday — Thu, 10 Feb 2022 16:43:51 GMT

@FireMedic1 wrote:
@WinningEveryday wrote:
As mentioned up-thread. Your score is never going to go up if you keep getting more accounts. And you want to get 7 more cards after this spree? Time to hit the brakes and let all these new accounts age. And the almost 6 new accounts hitting your reports possibly? That 650 score will stay there for a long while. Least wait until your in the 700's. Seen this movie before. Give me more! Time to take a break until 2023. Chill for a while. More credit doesnt mean higher scores. Time gets you higher scores.

I know it looks reckless but this is how I got my score to improve. I got the US Bank Cards and some other cards in 1 month I think about 5 then I chilled out for more than a year. Recently I got another Cap One 5 months ago, then last month I got the Apple Card. Then the 3 Truist Cards. If I get the Chase Cards that will be 7 cards in the last 5 months with 6 coming in a month. So if I can Discover off I will got for about 5 American Experss Cards and 2 Business Credit Card- then I wll chill out for about 2 years.

Fortunatley for me I don't need credit. I want credit. Big Difference. So I can take the Score hit and then let a cluster of accounts age together. So if I don't get Discover off I am not applying for anything else that derog keeps me out of the Premium card catagory for now.

This morning my Experian went up 79 point so my stragtey does work. The trick is to get the card and never carry a balance. My score did not go down when I got the Cap One Card in Oct- I do expect my scores to go down once the Apple Card and the Truist Cards hit and if I get the Chase cards i expect a small hit that will recover in about 2 months.

My plan is to get my personal credit profile stage so I can get more business credit cards. They dont report to your personal so i can hide massive hide utilization that way

Re: I got 3 Truist Credit Cards this Morning It may be time to change Banks

Remedios — Thu, 10 Feb 2022 21:03:35 GMT

@WinningEveryday wrote:
@FireMedic1 wrote:
@WinningEveryday wrote:
As mentioned up-thread. Your score is never going to go up if you keep getting more accounts. And you want to get 7 more cards after this spree? Time to hit the brakes and let all these new accounts age. And the almost 6 new accounts hitting your reports possibly? That 650 score will stay there for a long while. Least wait until your in the 700's. Seen this movie before. Give me more! Time to take a break until 2023. Chill for a while. More credit doesnt mean higher scores. Time gets you higher scores.

I know it looks reckless but this is how I got my score to improve. I got the US Bank Cards and some other cards in 1 month I think about 5 then I chilled out for more than a year. Recently I got another Cap One 5 months ago, then last month I got the Apple Card. Then the 3 Truist Cards. If I get the Chase Cards that will be 7 cards in the last 5 months with 6 coming in a month. So if I can Discover off I will got for about 5 American Experss Cards and 2 Business Credit Card- then I wll chill out for about 2 years.

Fortunatley for me I don't need credit. I want credit. Big Difference. So I can take the Score hit and then let a cluster of accounts age together. So if I don't get Discover off I am not applying for anything else that derog keeps me out of the Premium card catagory for now.

This morning my Experian went up 79 point so my stragtey does work. The trick is to get the card and never carry a balance. My score did not go down when I got the Cap One Card in Oct- I do expect my scores to go down once the Apple Card and the Truist Cards hit and if I get the Chase cards i expect a small hit that will recover in about 2 months.

My plan is to get my personal credit profile stage so I can get more business credit cards. They dont report to your personal so i can hide massive hide utilization that way

That's not how any of this works

You got 3 Truist cards and you cannot "hide massive utilization" because of their limits.

What is making you think that "credit building" is somehow equivalent to mindlessly adding cards? It isn't.

Same reasons that are keeping you with low SLs will be present when you apply for business credit.

However, before they have a chance to deny you for negatives, your excessive credit seeking will get you denied first.

I've seen some rather unrealistic expectations in your posts and to some degree, lack of understanding how credit works, what builds profile, what ruins it.

You're of course free to continue making grandiose plans that won't come to fruition or you can start paying attention to whats being said to you and/or draw from those who have experience with successful rebuilds.

Re: I got 3 Truist Credit Cards this Morning It may be time to change Banks

madmann26 — Thu, 10 Feb 2022 21:16:09 GMT

I guess I'll say it.

None of this is going to turn out well.

Re: I got 3 Truist Credit Cards this Morning It may be time to change Banks

WinningEveryday — Thu, 10 Feb 2022 22:25:04 GMT

@madmann26 wrote:
I guess I'll say it.

None of this is going to turn out well.

How much you want to bet it turns out AMAZING WELL??? You want to put some money on it!