Many of you are going through app sprees like I did. I loved doing it. The "Congratulations" message was addicting.
In the past four months (May through August) I rebuilt my portfolio with 14 new cards and purchased a new car. The inquiries for the car were unbelievable. Wells Fargo alone lost their mind and hit me with five hard pulls spread between two credit bureaus. All I can say is that it is a good thing I am in the garden.
All but the final two cards have reported to the credit bureaus. This is what I learned from my sprees. Most of this reinforces what I have read and learned from all of you.
1-The cards with the best interest rates were acquired with the highest scores. (duh) The lowest was one with BofA when Experian had not updated my score when my I was approved.
2-The order of the cards was very important and I just stumbled into a good order when I apped for Barclay Ring and United Explorer early. (dumb luck on my part for which I am very grateful)
3-It was hard to stop. I always wanted just one more card. My last card was Citi Double Cash. Again, I lucked out as they pulled Experian which at the time had few inquiries and my highest score.
4-There is a lot to learn when you have so many new cards. I am still learning, but enjoying doing it now instead of apping.
5-I did have a reason I wanted each card so I am happy with the cards I have. Each person has a "best number of cards" for them.
I hope posting this helps someone because all the posts I have read here have helped me incredibly. Please add your thoughts on credit card applications and results, if you like. I'd love to read them.
(Moderators, I think I put this post in a good place. If not, please feel free to move.)
Oh, at the bottom of the page are listed my highest scores and my current scores as of today after all that has happened.
Good read!! One thing I've learned. Always, always procure your own financing when buying a vehicle if possible. The finance departments at the dealerships have no mercy! lol
Plus they can tack on a extra 1% to your initial rate and reap the benefits on the back end of the auto sale.
@Gmood1 wrote:Good read!! One thing I've learned. Always, always procure your own financing when buying a vehicle if possible. The finance departments at the dealerships have no mercy! lol
Plus they can tack on a extra 1% to your initial rate and reap the benefits on the back end of the auto sale.
Lesson learned! lol However, I went into the dealeship knowing my scores and knowing what I was eligible for so far as interest.I asked them which FICO they used. I told them I wanted 1.9 and was offered 2.9. (I see your post about that so I understand now.) I was going to leave if I didn't get my terms and suffer the consequnces. (Mind you, I didn't know I would have over twelve pulls
.) I thanked the man very much for his time, but before I could stand up I had the total seven year care package and 1.9 interest. Wowee! I was stoked! He said he would make it up with the next person who came to see him. No kidding, he said that.
Thanks for your comments!
Thanks for the info. I was told this can also vary depending on the state.
@Anonymous wrote:So how much in new TL did you end up with from all your cards? Please update us once all your accounts post so we know how much those HPs cost.
You sound very happy and satisfied with your spree and now are content to garden away.
Right on all counts, Redeyz. Before apping I had a total of 7,217 TL. Now with the new accounts and some luv on the accounts, 151,700. I will update this thread when the accounts all show.
Oh, I should probably mention my utilization is around 14%. It has also been a moving target with the new accounts reporting.