App Spree Regrets!

[Anonymous]

Last night I made a very terrible mistake... I went on a mini app spree, when I should not have. I didn't get approved for any cards, which was really disappointing. The reason for more of the denials were too many new lines of credit =-(

Has anyone every done something similar?

By the way, new to the community. I am looking for the support I need to stay on track to building my credit back up. No BK, just a collection or two and a 2 settled credit cards.

[Anonymous]

Cards that I applied for were:

Chase Freedom: Denied

Capital One Venture: Denied

Barclay Rewards: Denied

I knew I shouldn't have applied cause I havent had any inquiries since the beginning of this year. My score around March was in the 510's and I've brought it up to the 600's so I am at least excited that it is not as low. I was applying for cards to see if I could get approved for something new, and to add new credit lines to my history. I guess this was the wrong approach and I wanted to feel the excitement of new credit without really thinking of what I was getting myself into. Erg...

[Anonymous]

Sorry about the denials. I don't mean to offend you but those FICO scores in you sig are quite low for the CCs you applied. I beleive a score of upper 600's to 700's will get you those CCs. Sorry OP.

[Anonymous]

Sometimes, when I am really hungry, I will order a pizza. Next thing I know I have eaten the entire thing, and I just think about how much I hate myself and how disappointed I am.

It's something like that that reminds me why I eat healthy and focus on a healthy lifestyle.

Similar to your situation. Sometimes we get the urge to do something bad, and we are quickly brought back to earth as to why we don't do it more often.

The INQs won't kill you. Learn from your mistake and move on! You'll be just fine.

And welcome to the forums.

[Anonymous]

I don't take offense. I realize that my scores are not in shape for these CC's. However, I saw that some people were approved with low scores, and were even approved for limits as low as 500. I didn't think this one through and hopefully I can get the support I need in these forums! Thanks for your feedback.

[Anonymous]

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@Anonymous wrote:
Sometimes, when I am really hungry, I will order a pizza. Next thing I know I have eaten the entire thing, and I just think about how much I hate myself and how disappointed I am.

It's something like that that reminds me why I eat healthy and focus on a healthy lifestyle.

Similar to your situation. Sometimes we get the urge to do something bad, and we are quickly brought back to earth as to why we don't do it more often.

The INQs won't kill you. Learn from your mistake and move on! You'll be just fine.

And welcome to the forums.

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Interesting analogy, but I see the point you are trying to make. I wish I had followed these forums sooner, maybe I would have avoided some of the mistakes I made last night. Thanks for sharing.

[Anonymous]

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@Anonymous wrote:

Cards that I applied for were:

Chase Freedom: Denied

Capital One Venture: Denied

Barclay Rewards: Denied

I knew I shouldn't have applied cause I havent had any inquiries since the beginning of this year. My score around March was in the 510's and I've brought it up to the 600's so I am at least excited that it is not as low. I was applying for cards to see if I could get approved for something new, and to add new credit lines to my history. I guess this was the wrong approach and I wanted to feel the excitement of new credit without really thinking of what I was getting myself into. Erg...

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I feel for you my friend. I have made alot of mistakes this year too... Mostly apping for cards before my scores were high enough. I started the year with a score of 550, now I'm in the mid 700's. I have alot of good cards now. But shut myself out of some by apping too soon, too often. Patience really does pay. It's hard I know... but it is the best lesson I have learned from this forum. 

[Anonymous]

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@Anonymous wrote:

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@Anonymous wrote:

Cards that I applied for were:

Chase Freedom: Denied

Capital One Venture: Denied

Barclay Rewards: Denied

I knew I shouldn't have applied cause I havent had any inquiries since the beginning of this year. My score around March was in the 510's and I've brought it up to the 600's so I am at least excited that it is not as low. I was applying for cards to see if I could get approved for something new, and to add new credit lines to my history. I guess this was the wrong approach and I wanted to feel the excitement of new credit without really thinking of what I was getting myself into. Erg...

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I feel for you my friend. I have made alot of mistakes this year too... Mostly apping for cards before my scores were high enough. I started the year with a score of 550, now I'm in the mid 700's. I have alot of good cards now. But shut myself out of some by apping too soon, too often. Patience really does pay. It's hard I know... but it is the best lesson I have learned from this forum. 

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Thanks mooshi123. I'm hoping that the boards motivate me to stay on track. Hopefully next year my scores can improve drastically as I learn from you fine folk. Thanks for replying.

[msbia]

OP, welcome to the forums! I understand your angst and empathize with you. Looking at your signature you have some really good cards! I just think you should garden for another 6-12 months and work on whatever is holding your scores down. Once your TU gets to about 640, go ahead and apply for credit limit increases on the Synchrony cards. Keep your overall utilization low and you should be fine. Try not to be disappointed in the denials...take the letters they send and use the, for inspiration as you go. In no time you'll be in Approvals proclaiming victory over Chase, Capital One and Barclays. Keep your chin up! 

[Anonymous]

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@msbia wrote:

OP, welcome to the forums! I understand your angst and empathize with you. Looking at your signature you have some really good cards! I just think you should garden for another 6-12 months and work on whatever is holding your scores down. Once your TU gets to about 640, go ahead and apply for credit limit increases on the Synchrony cards. Keep your overall utilization low and you should be fine. Try not to be disappointed in the denials...take the letters they send and use the, for inspiration as you go. In no time you'll be in Approvals proclaiming victory over Chase, Capital One and Discover. Keep your chin up! 

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Thank you for your warm welcome! Angst is definitely the word! I plan to "garden" for a minimum of 12 months but we all know how difficult that can be. I know that I can make it through now that i've got support in the forums. You guys are awesome!!!! I am proud of my utilization at the least, I always try to keep it below 20% but I will work on keeping it under 10% while I am gardening. Thanks for your support.