Credit Card Application Rehab Thread

[lindsaydruart]

I'm guilty of this. I was so excited to have decent credit enough to get an approval, I applied for everything I could. I got my dream card last night and started pruning yesterday. My util is 3% across 25 cards. I'm waiting on that 6 months to hit on each card to get CLIs and a few of the store cards will be the boot. Buckle and VS will get the boot along with 3 of my 4 Gap brand cards so I can focus on one card and get the Visa. I closed 3 subprimes yesterday. I'm waiting on Merrick to double and report so that one can get the boot and that will be all my subprimes. I plan to combine my QS1s in 6 months and PC to a QS. I MIGHT add a Venture 1 just because I already apped for it and I'm waiting on my TU to update so I can mail in for a recon. I have 30 days to recon on the app according to the letter. I plan to PC my Spark eventually. Either way, I have a definitive plan to garden with instead of apping so my focus has shifted. I think I'm getting better.

[Anonymous]

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@Anonymous wrote:

In real life I actually run a few outpatient rehabs (D&A/MH/Gambling)...maybe I should look into adding credit card application and video game addiction to the programming.

It is definitely hard to stop clicking apply when you feel like you're on a roll.

After my last app spree (only 4 apps) I'm starting to view the whole thing like they are relationships...you have something that's working out well enough...you wonder if there's something better...so you explore options...you realize others want you...and it triggers this rush of endorphins that you keep chasing...

Right now I'm in a position of rebuilding...but need to focus on being content with the big hits I had last week...so I'm going into full on gardening mode.

Good luck to all!

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I would be every much interested to get some of your insight and ideas to help curb the habit. I started this thread to raise awareness and keep people from potentially seriously damaging their credit. Reply or PM me and I would be grateful to get more knowledge and insight

[lindsaydruart]

God I relapsed! I think myfico monitoring is enabling me. I see those score spikes and I'm all "go apply for something now!" So I'm going to cancel myfico and just rely on FAKOs so I can be scared of what the real score is.

[Anonymous]

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Loskene wrote:

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I would be every much interested to get some of your insight and ideas to help curb the habit. I started this thread to raise awareness and keep people from potentially seriously damaging their credit. Reply or PM me and I would be grateful to get more knowledge and insight

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You have a PM. :-)

[Anonymous]

Well I'll start off by saying don't judge me butttttttttttttttt I have 61 open accounts in 8 months, My biggest spree was 42 all in a weeks last year. Never got AA thank god LOL.

My UTI as of today is 3% of the 168k. I do have about 20 store cards, the rest are visa, 1 MC and 2 AMEX.

I guess seeing as I really didnt have any credit since 2007 after my BK, my score was already in the toilet, My AAoA hinged on my auto loans I had previoisly so i figured I'd just start building my AAoA on a massive amount of cards and down the road applying for a card in the future really wouldn't hurt my AAoA.

I have kept even the crappy cards with horrible AF one is at 125 the other at 75 but for me it's a small price to pay for the AAoA so i'll keep them for 2-3 years. Yes I know they will stay on my report for 10 years but the payment history is what I'm after. Ive only apped 3 times this year and all were approvals.

The other thing I looked at when appling for these is the INQ will all fall off at the same time, so applying for 1 or 2 that I dont have down the road and would like to have wont result in 50 INQ.

If i could change 1 thing I wouldn't have so many store cards and would have just got the ones with the higer SL and the ones that give the best CLI.

[Anonymous]

and I did recieve my new credit report yesterday in the mail. It was delivered by a semi.

[someg33k]

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@Anonymous wrote:

Well I'll start off by saying don't judge me butttttttttttttttt I have 61 open accounts in 8 months, My biggest spree was 42 all in a weeks last year. Never got AA thank god LOL.

My UTI as of today is 3% of the 168k. I do have about 20 store cards, the rest are visa, 1 MC and 2 AMEX.

I guess seeing as I really didnt have any credit since 2007 after my BK, my score was already in the toilet, My AAoA hinged on my auto loans I had previoisly so i figured I'd just start building my AAoA on a massive amount of cards and down the road applying for a card in the future really wouldn't hurt my AAoA.

I have kept even the crappy cards with horrible AF one is at 125 the other at 75 but for me it's a small price to pay for the AAoA so i'll keep them for 2-3 years. Yes I know they will stay on my report for 10 years but the payment history is what I'm after. Ive only apped 3 times this year and all were approvals.

The other thing I looked at when appling for these is the INQ will all fall off at the same time, so applying for 1 or 2 that I dont have down the road and would like to have wont result in 50 INQ.

If i could change 1 thing I wouldn't have so many store cards and would have just got the ones with the higer SL and the ones that give the best CLI.

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Wow that is a lot.

Glad you have not seen any AA. Do you have any Chase or Barclay cards?

[someg33k]

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@Anonymous wrote:

and I did recieve my new credit report yesterday in the mail. It was delivered by a semi.

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LOL

[Anonymous]

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@someg33k wrote:

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@Anonymous wrote:

Well I'll start off by saying don't judge me butttttttttttttttt I have 61 open accounts in 8 months, My biggest spree was 42 all in a weeks last year. Never got AA thank god LOL.

My UTI as of today is 3% of the 168k. I do have about 20 store cards, the rest are visa, 1 MC and 2 AMEX.

I guess seeing as I really didnt have any credit since 2007 after my BK, my score was already in the toilet, My AAoA hinged on my auto loans I had previoisly so i figured I'd just start building my AAoA on a massive amount of cards and down the road applying for a card in the future really wouldn't hurt my AAoA.

I have kept even the crappy cards with horrible AF one is at 125 the other at 75 but for me it's a small price to pay for the AAoA so i'll keep them for 2-3 years. Yes I know they will stay on my report for 10 years but the payment history is what I'm after. Ive only apped 3 times this year and all were approvals.

The other thing I looked at when appling for these is the INQ will all fall off at the same time, so applying for 1 or 2 that I dont have down the road and would like to have wont result in 50 INQ.

If i could change 1 thing I wouldn't have so many store cards and would have just got the ones with the higer SL and the ones that give the best CLI.

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Wow that is a lot.

Glad you have not seen any AA. Do you have any Chase or Barclay cards?

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yes I have chase, barclay, I was nervous after thinking about AA but it's been awhile since then and even have recieved a CLI from barclay after. I just didnt try to bring any attention to myself. I was using the barclay heavy at the time, a few thousand a month but always making big payments and PIF every month. 

[Anonymous]

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@Anonymous wrote:

and I did recieve my new credit report yesterday in the mail. It was delivered by a semi.

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