Advice for Upcoming App Spree

[BalisongAddict]

Santi, where are you getting the 26th from? What I'm looking at says the 24th.

On_My, which PenFed card do you have? I plan to apply for their Travel Rewards card eventually once I've had a chance to garden a bunch (maybe my EQ report will stay inq free until I apply for them).

[Anonymous]

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@BalisongAddict wrote:

JustMe, how'd you get over your head?

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Young and dumb (no offensive) and had no idea what I was doing. Nobody taught me about credit so I ended up learning the hard way. Just make sure before you apply for a card that you have a plan as to how you will use it, and more importantly, how you will pay for it. I wish you luck in whatever you decide to do.

[Santi78342]

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@BalisongAddict wrote:

Santi, where are you getting the 26th from? What I'm looking at says the 24th.

On_My, which PenFed card do you have? I plan to apply for their Travel Rewards card eventually once I've had a chance to garden a bunch (maybe my EQ report will stay inq free until I apply for them).

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Sorry, the promo does indeed end on the 24th.

[kdong1996]

Someone might have suggested it already, but have you checked if you were prequalified for any cards from these CCCs? You can get your EX FICO score for $1 using the 7-day trial on the EX site. Just remember to cancel it before the trial ends.

I'd apply for the Sallie Mae as a trial run. You don't necessarily have to apply for all of them in one day. Just finish before any of them report as new accounts.  If you get instant approved for the SM continue on your app spree within a day or two. (Barclays reports fast. Really fast.)  If not, call recon and see if they can provide you with any good reasons. Apply for the Freedom next, even if you got denied for SM. If you get approved for any one of these two just continue on your spree. I'd go Fidelity then PRG.

Banks like fewer inquiries for thiner files, due to your low number of inquiries Chase and Amex probably won't even bat an eye to your app spree. Also don't worry too much about getting denied. A few inquiries on each bureau won't make or break future applications. I have more inquiries than you within a similar time frame and still have yet to get denied for too many inquiries because they're spread out evenly.

Most banks won't ask for income verification, but as always YMMV. I've only been asked for income verification by Capital One once which I just sent my bank statements.

Anyways, godspeed!

[BalisongAddict]

Unfortunately, I don't have any pre-qualified offers. I have been looking at that EX $1 deal. I think I'll do it tomorrow before I begin the applications so I can see if my Discover 12th statement has shown up yet (12th cycle ended on the 20th).

[BalisongAddict]

So despite my last Discover statement closing at 6% utlization, credit.com is now telling me that I have 51% utilization! I'm guessing Discover reported my pending purchase (airplane ticket) as well. Do you guys think this is correct? If so, I might have to hold off a month on applying to all the EX pullers, and just apply to Sallie Mae before the TU is updated as well. I'm planning on getting my EX report later today to make sure. This really sucks.

[BalisongAddict]

So I just applied for the Freedom despite the high utilization because today is the last day for the $200 sign up bonus, and I was instantly approved for a $2200 SL. I called Discover, and they appologized, and they said they'll do an off cycle report. So basically, my plan is to just do the off cycle report, wait a few days for it to update with the bureaus, and then apply for the Sallie Mae, Fidelity, and PRG.

[BalisongAddict]

So Discover said that their off cycle update takes 30-60 days to report to the bureaus. In that case, my next on cycle update will happen first. So basically, I'm deciding between applying now despite the high utilization, waiting a few days and applying (assuming Discover is wrong and the bureaus will really update in a normal amount of time), and waiting until my next on cycle update happens before applying. What do you think I should do?

[Anonymous]

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@BalisongAddict wrote:

So Discover said that their off cycle update takes 30-60 days to report to the bureaus. In that case, my next on cycle update will happen first. So basically, I'm deciding between applying now despite the high utilization, waiting a few days and applying (assuming Discover is wrong and the bureaus will really update in a normal amount of time), and waiting until my next on cycle update happens before applying. What do you think I should do?

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I would just wait til it updates

[BalisongAddict]

Okay, so I found out that my first Chase statement would cut on July 13th, meaning that the account would report about a week before Discover reported my next statement to the bureaus. So because that would cut my AAoA in half and because Barclays is super new account sensitive, I applied for the Sallie Mae tonight. It said it went to review, so I called the recon line, and after a bit of convincing the guy he said he'd approve me for a SL of $500 (lol). When I asked him for $1000, he said he isn't comfortable with that. Haha it's like I'm a child. Anyway, so now I've been approved for the Freedom and the Sallie Mae.

On to the Fidelity and PRG I suppose. I don't really have another choice because both the Freedom and the Sallie Mae will kill my AAoA before my utilization is updated.