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Started off with my first card after BK with Cap One Platinum at $3000 @ 25% apr.
Got a CLI to $3500,
opened another Cap One card (Sony) at maybe $1000,
opened another Cap One card at $3000,
got a CLI to $3500,
closed Sony card,
got a $9,000 CLI on one of 1st cards,
opened a QuickSilver Visa Siggy card at $10,000,
PC'd $12,500 Platinum to QuickSilver,
opened another QuickSilver Visa Siggy card at $10,000,
got a $5,500 in CLIs somewhere in there,
closed $3,500 card,
PC'd QuickSilver into Venture World MasterCard,
opened another QS VS at $10,000 some time around here,
combined 4 cards into 2 cards to get $25,500 & $23,750,
opened a new Venture Siggy at $30,000,
YES, got a $400 bonus with $59 annual fee waived 1st year.
(to the best of my memory)
just got declined for a CLI on the $23,750 card but,
was just preapproved for another card (Venture, Savor, or QuickSilver),
too scared to apply due to exposure.
I put about $5,000 - $10,000 through the cards each month total. I have never paid a penny of interest and make well over $100 per month in cash back. I have done many 0% promotions totaling probably $30-$40k, just paid off all 3 cards (again - no interest charges) and just received another 18 month 0% offer for $23,750 with a 2% fee.
I also have a Cap One car loan for $35k @ 2.49% for 72 months with no money down!
I burned Cap One in the past, but I have had about 12 accounts over the years that I did not burn them.
I know it sounds insane that I opened and closed about 5-7 cards within 2-3 years but few years later and all the inquiries have fallen off (except new Venture), I have made over $5,000 in opening acct bonuses and cash back, and have 3 great cards in both World MasterCard and Visa Signature.
I am going to PC my Venture WMC to Savor, then I should be all set.
DON'T WORK FOR CREDIT CARDS ... MAKE CREDIT CARDS WORK FOR YOU!
That was an amazing, and very instructive, story. Thank you, 800!
Questions: Were your scores stellar throughout (such that the common credit seeker would not be able to follow your footsteps)? Was each new card 3 fresh HPs?
@Anonymous wrote:That was an amazing, and very instructive, story. Thank you, 800!
Questions: Were your scores stellar throughout (such that the common credit seeker would not be able to follow your footsteps)? Was each new card 3 fresh HPs?
My scores still are not stellar! LOL.
Yes, each was 3 pulls, but I got opening bonuses, etc.
This started 1 month after BK and has only been 4.5 years to date.
The one advantage I had was income. Because I was charging and paying off so much (weekly payments), it was obvious that I was not going to have problems again.
GL - YMMV!
DON'T WORK FOR CREDIT CARDS ... MAKE CREDIT CARDS WORK FOR YOU!