i have a problem

[Anonymous]

I am addicted to apping for new cards. ive been doing 1-2 a months since discharge and did like 5 or 6 in july alone! I cant stop even with mostly getting denials, most recent was barclays nfl extra points a few days ago which was of course denied. I am officially going to be freezing all 3 of my reports sometime in the next few days and not do any new apps for 6 monthss. I've got to. I don't know what else to do, it just seems like every time I get a few weeks without an application I get that itch and end up apping. Share similar experiences.

[Anonymous]

Yes definitely freeze those reports until they are in good/better shape for approvals that will be tons better.

[whiteknight1971]

I agree. You need to freeze the reports and not apply for anything for at least 6 months. All you're doing now is getting a ton of inquiries and looking bad for current credit card companies  Ask for soft pull CLI on your current cards every 3 months and let them grow. You need to get your scores in the solid 600's before you will get approved for better cards. Good luck 

[Anonymous]

will freezing my reports affect my sp cli's? or will they still be able to get my current credit info?

[Anonymous]

Freezing the three CRAs will not stop any of you current creditors from accessing you credit reports to consider you for a CLI.

[Anonymous]

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@Anonymous wrote:

Freezing the three CRAs will not stop any of you current creditors from accessing you credit reports to consider you for a CLI.

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Yes it will for hard inquiries.

[Anonymous]

Freeze the accounts, print the access PIN and give it to someone to keep (spouse, parents, etc.) so that you can't readily un-freeze it, and leave it at that for a while 

Kudos to you for wanting to do something about it though! Most people just keep going with the habit and destroy their credit. We're all here to help you out

[kdm31091]

It's not just about "don't app for 6 months because you're just getting declined"; it's also the fact that even if you were being approved, you'd need to stop! Credit is not a game. One really only "needs" 3-4 cards to build a solid FICO score and history with, and anything else is just pretty much extra in most cases. With that in mind, you are good to garden and let things grow and age.

Freeze the reports, give the PIN to someone else like suggested, and forget about cards. Use them like debit and pay them off, but otherwise don't give it any thought. Don't think about discounts, rewards, bonuses, whatever. Focus on other hobbies and interests. The urges will fade over time as you see your score climbing from gardening etc.

[NRB525]

OP, are those all the cards you have, all your latest approvals in your siggy, or do you have others to update?

If your BK discharge is that recent, February, and you are getting denied, and you know it, you know you are getting denied, there are some comments that seem appropriate to help you think clearly about this:

Le'ts be sure you see the elephant in the room. You went through a BK. That means you had trouble managing credit before. Trouble managing credit does not go away with a BK filing and discharge. Trouble with credit is a behavioral situation, not a "discharge event". Are you paying your current cards to keep from getting out of hand?

You do realize, I hope, that the CCC that you send these applications to, they can see that you just came out of BK? You know that right? This is important for you to realize because they see the breadcrumbs of your credit history and, other than Capital One or the predatory lenders, they are generally not willing to be the first to go to issue you credit.

You can freeze your reports if you think that will help, but I would suggest taking a good long look in the mirror and see who is the responsible adult here. Is it you? If so, put on your big kid pants and deal with the credit problems you have. No one else is going to really be able to solve your issues for you.

All the best of luck! Credit management is a behavior, but it is a learned behavior. No one of us was born knowing how to manage cedit, how to manage money, we all learned it at some point. Some take a bit longer to learn, but we can all learn how to manage credit better.

[EdMan63]

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@NRB525 wrote:

OP, are those all the cards you have, all your latest approvals in your siggy, or do you have others to update?

If your BK discharge is that recent, February, and you are getting denied, and you know it, you know you are getting denied, there are some comments that seem appropriate to help you think clearly about this:

Le'ts be sure you see the elephant in the room. You went through a BK. That means you had trouble managing credit before. Trouble managing credit does not go away with a BK filing and discharge. Trouble with credit is a behavioral situation, not a "discharge event". Are you paying your current cards to keep from getting out of hand?

You do realize, I hope, that the CCC that you send these applications to, they can see that you just came out of BK? You know that right? This is important for you to realize because they see the breadcrumbs of your credit history and, other than Capital One or the predatory lenders, they are generally not willing to be the first to go to issue you credit.

You can freeze your reports if you think that will help, but I would suggest taking a good long look in the mirror and see who is the responsible adult here. Is it you? If so, put on your big kid pants and deal with the credit problems you have. No one else is going to really be able to solve your issues for you.

All the best of luck! Credit management is a behavior, but it is a learned behavior. No one of us was born knowing how to manage cedit, how to manage money, we all learned it at some point. Some take a bit longer to learn, but we can all learn how to manage credit better.

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Wonderful post. This is the real message here.