Advice on my first credit app spree

[BrewinZO6]

Hello everyone

I plan on going my first ever app spree and need some advice/suggestions

I plan applying for several different products from several different credit unions and banks that I’ve joined last year since I started gardening. I’ve built relationships with most of the credit unions over the year and I’m looking for an auto refi and some credit cards/lines of credit if preferably. I plan on doing this spree over the span of a couple of days and was thinking it was a good idea to do a burea per day for applications as I plan on trying to double dip with several credit unions. I’ll be using multiple devices to submit apps so I expect for many of these to be denied to the inquiries reporting immediately to the bureau etc.

FICO 8: EXP 812     TU 810      EQ 812

7 inquires on EXP due to auto loan last February

1 inquiry on EQ

Utilization at 2%

Here’s what I plan on going per bureau:

Experian

NASA CU  cc & line of credit

KeyPoint   cc & line of credit

Unify          cc & line of credit

Chase.      CSP & business ink cash if possible, still not sure as it would be 2nd HP

Amex        Blue Cash

Equifax

PenFed.  auto refi

SECU.      cc & line of credit

DCU.        cc

Citi.           Maybe a  cc?

Transunion

NavyFed    cc

BCU.            cc & line of credit

Alliant.        cc

Conexxus. cc/line of credit

Consumers  cc/line of credit

Apple Card

GM card

PS I think I might over extending myself with the apps but why not give it a shot.

[JoeRockhead]

I'd consider this plan to be quite more than a spree... this would be a quite aggressive credit seeking campaign. One I personally don't think is very realistic. 

Aside from the fact that you shouldn't rely at all on these lenders pulling strictly from the stated bureaus, there's the repercussions of adverse actions being taken (including account closures) shortly down the road when they do follow up pulls to check up on what you've been up to.

I'm sure many are wondering why you need, or want to add so many new accounts, so quickly. I'd recommend you scale back your list, ambitions, and expectations.

[FlaDude]

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@JoeRockhead wrote:

Aside from the fact that you shouldn't rely at all on these lenders pulling strictly from the stated bureaus, there's the repercussions of adverse actions being taken (including account closures) shortly down the road when they do follow up pulls to check up on what you've been up to.

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Yeah, going forward with this plan seems like it would trigger bustout fraud alarms with the lenders.

[Rogue46]

Just counting the CC apps without adding in the lines of credit and vehicle refinance that's 16. Most would consider an app spree like 3 cards.. 

[SouthJamaica]

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@BrewinZO6 wrote:

Hello everyone

I plan on going my first ever app spree and need some advice/suggestions

I plan applying for several different products from several different credit unions and banks that I’ve joined last year since I started gardening. I’ve built relationships with most of the credit unions over the year and I’m looking for an auto refi and some credit cards/lines of credit if preferably. I plan on doing this spree over the span of a couple of days and was thinking it was a good idea to do a burea per day for applications as I plan on trying to double dip with several credit unions. I’ll be using multiple devices to submit apps so I expect for many of these to be denied to the inquiries reporting immediately to the bureau etc.

FICO 8: EXP 812     TU 810      EQ 812

7 inquires on EXP due to auto loan last February

1 inquiry on EQ

Utilization at 2%

Here’s what I plan on going per bureau:

Experian

NASA CU  cc & line of credit

KeyPoint   cc & line of credit

Unify          cc & line of credit

Chase.      CSP & business ink cash if possible, still not sure as it would be 2nd HP

Amex        Blue Cash

Equifax

PenFed.  auto refi

SECU.      cc & line of credit

DCU.        cc

Citi.           Maybe a  cc?

Transunion

NavyFed    cc

BCU.            cc & line of credit

Alliant.        cc

Conexxus. cc/line of credit

Consumers  cc/line of credit

Apple Card

GM card

PS I think I might over extending myself with the apps but why not give it a shot.

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I don't think you should go on a spree like that.  It's just too much.

[elboullee]

Set aside the personal lines of credit. And assume for the sake of argument you actually get approved for just 10 of the 16 credit cards.

Do you have the kind of organic monthly spend to hit the SUBs on all those cards? If not, then why are you doing this?

Cratering your credit score by 100 points or more between all those HPs and when those 10-20 new accounts hit your file, just for $#!ts and giggles,  seems reckless.

[CreditPoor]

These ideas come from YouTube and the "credit experts" who suggest these idiotic credit spree schemes. The fact that you admittedly would be over extending yourself says everything we need to know.  I say go for it! It will be entertaining to say the least

[narcan04]

My advice is to lock in the refi first, especially if you are hoping to do it with Penfed. They don't like to see recent accounts in the last six months.

As for the rest of it, it seems like a lot of hard pulls for what I'd suspect will net you 4 or maybe 5 new accounts with progressively lower limits. Plus the risk of lenders like Chase who are known for closing newly opened accounts when they see a lot of credit seeking so soon after opening.

It might help to understand your logic for wanting to request so many new accounts in short order? 

In any case, I would generically suggest picking the top three or four and going for those if you really want to do a high success-rate spree. And keep in mind any SUBs you might be taking on to make sure you don't waste any of them.

[Thomas_Thumb]

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@FlaDude wrote:

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@JoeRockhead wrote:

Aside from the fact that you shouldn't rely at all on these lenders pulling strictly from the stated bureaus, there's the repercussions of adverse actions being taken (including account closures) shortly down the road when they do follow up pulls to check up on what you've been up to.

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Yeah, going forward with this plan seems like it would trigger bustout fraud alarms with the lenders.

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^ Agree. A good case for triggering flags from fraud risk algorithms and getting noticed by ChexSystems as a profile of interest.

I'd say 3 cards would be a good spree if you want to stay below the radar.

[markhs777]

Put the brakes on that "plan" immediately. You will get ticketed for speeding. Simply a recipe for disaster.