Starting to see Applying is Addicting!!!!

[Anonymous]

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@ddemari wrote:

Applying for credit cards in it self is more of an addiction to me than actually using them. That is where my mistakes come down the road. i.e., too much available credit. 

I have a plethora of cards that I just wanted to apply for and put no use to them. I can manage several types of loans, credit cards, bills etc. I can also restrain myself  from using all my credit but im not doing myself anything really good by having so much credit because when I really, really, really want a card. It will probably be the worst time for me to actually get it. 

The hardeat part is fighting the "Congratulations, You have been Approved" message... when you are feeling the need for a pick me up. for me at least. 

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The Twelve Steps of Appaholics Anonymous

1. We admitted we were powerless over credit card applications-that our lives had become unmanageable.
2. Came to believe that a Power greater than ourselves could restore us to sanity.
3. Made a decision to turn our will and our lives over to the care of myfico forum members as we understood them.
4. Made a searching and fearless moral inventory of our credit.
5. Admitted to Banks, to ourselves, and to another human being the exact nature of our wrongs.
6. Were entirely ready to have Myfico help us remove all these baddies.
7. Humbly asked lendors to remove our shortcomings, charge offs, and collections.
8. Make a list of all banks we had harmed, and became willing to make amends to them all.
9. Made direct amends to such banks wherever possible, except when to do so would injure them or others.
10. Continued to take financial inventory and when we were wrong promptly admitted it.
11. Sought through the forum and meditations to improve our conscious contact with credit as we understood it, praying only for knowledge of its will for us and the power to carry that out.
12. Having had a spiritual awakening as the result of these steps, we tried to carry this message to Appaholics, and to practice these principles in all our affairs.

[Anonymous]

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@ddemari wrote:

Applying for credit cards in it self is more of an addiction to me than actually using them. That is where my mistakes come down the road. i.e., too much available credit. 

The hardeat part is fighting the "Congratulations, You have been Approved" message... when you are feeling the need for a pick me up. for me at least. 

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The highlighted portions are troubling, Have you considered something else to occupy your time?

[Anonymous]

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@Anonymous wrote:

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@ddemari wrote:

Applying for credit cards in it self is more of an addiction to me than actually using them. That is where my mistakes come down the road. i.e., too much available credit. 

The hardeat part is fighting the "Congratulations, You have been Approved" message... when you are feeling the need for a pick me up. for me at least. 

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The highlighted portions are troubling, Have you considered something else to occupy your time?

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I didnt create Appaholics for nothin', honey.

[Anonymous]

its dumb to have some many rewards cards with promotions, whats the point of spreading all that spending and not maximizing your profit.

[Anonymous]

"you're approved" does get quite addicting. Luckily for me my credit isn't allowing me to get approved for the card I want, and I realised this very quick. Sometimes you need reality to give you swift kick in the head and say "NO!".
And just like any other "addictions" I have/had, only lasted for little bit until I found something else to keep my attention. Like scratch lotto or online gaming (not online gambling) 😆

[Anonymous]

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@Anonymous wrote:

its dumb to have some many rewards cards with promotions, whats the point of spreading all that spending and not maximizing your profit.

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Sometimes that is the case, yes. Other times its not. Especially if the amount of a persons spend is high.  I enjoyed earning two bonuses by paying my property taxes with my IHG and Delta.  Both cards will have use beyond the first year.  PRG/ED are changeable....its an experiment.  I wont complain about the ability to transfer to Delta (my fav)...but chase UR seemed more appealing until they decided to drop amtrak.  You can always add cards and remove others later.  Themanwhocan has some excellent tables under useful info sticky. Great way to get an idea as to what card is most rewarding.  I kept adding cards because my scores kept increasing.  If I continue in excess I could eventually hit a point where CLI's will be harder to acheive.  I haven't really added a single card yet that won't be of use to me over the years though.

[kdm31091]

Some of these posts really are troubling. If you are using credit cards for a "pick me up", you need help.

Credit cards are a financial tool, part of an overall portfolio. They can complement our spending by providing rewards along the way. That's it. They are not meant to be a hobby, a game, a daily new thing to apply for, etc. If you are treating it that way, you will rack up a ton of denials, inqs, and eventually see potential AA and CLD.

Anyone who is in that situation should definitely find something else to occupy their time and interest. "Congratulations, you're approved" is nice, yes, but you don't need every card under the sun. Outside of massive spenders, like I always say, someone spreading their 2 or 3k a month spend across 20 cards isn't getting much out of it rewards wise anyway. Keep that in mind before apping. You don't need it.

Remember, every "pick me up" app follows on your report for 10 years if the account is opened, and at the least 2 years for the inquiry. Apping like crazy will have consequences when you want to get something more important, like a car or a house. It actually amuses me because we have people who say "well, I have a mortgage I want in 6 months, but I wanted to spree with these 2 or 3 cards". Seriously? You will be paying mortgage interest for 15-30 years. Getting the best rate you can matters a heck of a lot more than 1-2% in credit card rewards. You will pay for those rewards many, many times over in mortgage interest.

It can be an interest in a sense but shouldn't be a game, hobby or addiction.

[ddemari]

I think my post was meant in terms of op talking about applying becoming addicting not that I have no life lol. If the person who highlighted in red what I wrote is troubling them, I wish my biggest problems in life were admiting I'm an app-o-Holic. I'm just letting OP know I get where they are coming from.

[Anonymous]

It absolutely can be! after an app spree the night before, I woke up one morning feeling like a drunk person that was trying to remember what had happened that night and if I had really applied for that many accounts?? LOL

[Anonymous]

Debtors anonymous exists for people like that.

As for me I'll stick to the rebuild plan and get two more "definite" cards (Amex EDP and Chase CSP) when the time is right.