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App Spree w/ Approvals Continue or Wait

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New Visitor

App Spree w/ Approvals Continue or Wait

I had a plan to do a large app spree...

Applied

VS SCT (Not Sure yet if HP or SP) 750$ 8/5
AMEX ED 1000$ 8/5
AMEX Cash+ 1000$ 8/6
Capital One QS opted for Platinum 300$ 8/6
Paypal Cashback 2000$ 8/6

Haven't Applied
Citi Rewards+ (May have too many inqs now)
Amazon Store Card

Before this my credit profile consisted of 2 AU AMEX accounts the PRG and BCE for 8 months. No inquires or installment loans. Around 752 On TU/EQ not sure for EX.

I wasn't sure how this would go but with the 5 approvals I was thinking I should just stop but then again all of these accounts are going to hit at once and drop my score and it'll be awhile before I have the opportunity to apply again.

Is it better to try and get the last 2 cards before the new accounts show up and have everything age at once or wait and grow the limits on these?
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Valued Contributor

Re: App Spree w/ Approvals Continue or Wait

I say let the cards you have now grow. Hold off on any more apps.

You have a pretty decent chance the 2 Amex cards & the PayPal card will have their CL increased with time.
July 2020
Experian Fico 8. 707
Transunion Fico 8. 705
Equifax Fico 8. 724

Capital one QS. $700
.
Capital one QS1. $2450
Discover IT Cashback. $12,000
PNC cash rewards signature Visa. $17,500
Chase SW rapid rewards signature visa $6900
Amex Green Card NPSL POT $11,000

All cards opened between Oct 2018. - March 2020

Message 2 of 9
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New Visitor

Re: App Spree w/ Approvals Continue or Wait

Thank you CS1974!! I was leaning towards that because I was happy with the approvals but didn't want to possibly miss an opportunity before my score took a dip. I think I'll focus on these and garden for awhile. I appreciate the insight 🙂

**My apologies for the late response I couldn't seem to log in and had to create a new account.
Message 3 of 9
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Valued Contributor

Re: App Spree w/ Approvals Continue or Wait

I really wanna say stop it right there and let them age for at least 1-2 years But... your spree was so massive that you might as well add that  Sync Amazon Store card ( but only if you do a lot of Amazon shopping). You’re probably good for 1-2K approval. Forget citi as you’ll be turned down since you’ve already  incurred too many HPs

After that, garden for NO LESS than 2 years!

 

BK7 dc in 01/2011 with FICO8 in the 500s

HPs EX 5 EQ 3 TU 1
AAoA 5y2m
UTIL 1% - 3%

$200K+ Total Limits







New cc TLs 0/6 ; 1/12 & 3/24
Message 4 of 9
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Valued Contributor

Re: App Spree w/ Approvals Continue or Wait

I would say the same about Sync as they're easier to deal with at this point than your chances with Citi.  I'm 99% sure Citi will decline with the rash of new inquiries.  They tend to double pull and also have a 6/6 rule in whcih they will auto deny based on 6 inq/6 months.  

 

https://www.reddit.com/r/churning/comments/67u9q0/guide_antichurning_rules/

 

This is a good resource for figuring out the rules with bigger banks when it comes to multiple apps.  

500K+ TCL / 800+ FCOs
Message 5 of 9
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Established Contributor

Re: App Spree w/ Approvals Continue or Wait

Don't mass apply for Synch cards. They'll make you do a mandatory financial review and lock ALL cards until you complete it- or they close your accounts.


Message 6 of 9
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Valued Member

Re: App Spree w/ Approvals Continue or Wait


@Obscure-Expert wrote:

I would say the same about Sync as they're easier to deal with at this point than your chances with Citi.  I'm 99% sure Citi will decline with the rash of new inquiries.  They tend to double pull and also have a 6/6 rule in whcih they will auto deny based on 6 inq/6 months.  

 

https://www.reddit.com/r/churning/comments/67u9q0/guide_antichurning_rules/

 

This is a good resource for figuring out the rules with bigger banks when it comes to multiple apps.  


Just to clarify, is that 6 inquiries on one credit bureau, or 6 inquiries on all 3 credit bureaus?


Message 7 of 9
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Moderator

Re: App Spree w/ Approvals Continue or Wait


@Penjamin_Fedington wrote:

@Obscure-Expert wrote:

I would say the same about Sync as they're easier to deal with at this point than your chances with Citi.  I'm 99% sure Citi will decline with the rash of new inquiries.  They tend to double pull and also have a 6/6 rule in whcih they will auto deny based on 6 inq/6 months.  

 

https://www.reddit.com/r/churning/comments/67u9q0/guide_antichurning_rules/

 

This is a good resource for figuring out the rules with bigger banks when it comes to multiple apps.  


Just to clarify, is that 6 inquiries on one credit bureau, or 6 inquiries on all 3 credit bureaus?


He would be saying on a particular CR, but that rule isn't the end all be all by any means as I have certainly broken that rule and been approved for many Citi cards with alot more than what was mentioned in both inquiries and accounts.  Alot more to a profile than just inquiries and new accounts when a lender looks at your profile unless it is a true set hard rule such as Chase's 5/24 rule which is firm also that can be overcome if you have an inbranch pre-approval or a pre-approval on-line.  With ever rule there is usually exceptions..

Message 8 of 9
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Valued Contributor

Re: App Spree w/ Approvals Continue or Wait

Citi tends to double pull.  So, it's the luck of the draw when counting inquiries.  If you have been a busy apper then it's best to take a rest until you can count them on 1 hand if you combine 2 CRA's together.  Chase does the same thing but, it's new accounts and not inq's for 24 months.  INQ's are the cost of doing business but, they can waste a HP if you don't double check for a particular lender before hitting submit.

 

Every bank is different though.  USB denied me for 5 on EQ but, a quick call to UW they manually reviewed and approved them.  It was a bit of tug-o-war with them though to go from app to 10K/ea on 2 cards at the same time.

500K+ TCL / 800+ FCOs
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