Greetings All,
**Explanation a bit lengthy, results @ the bottom**
After 1 year 6 months in the garden, I thought it was time to pop out and make something shake. I'd been working on improving my scores and building my profile during the pandemic. In an effort to make it even stronger, as well as utilize some new 0% APR intro offers, midway through the year seemed like the right time to do a calculated "App Spree". My focus has really been on Credit Unions as of late and which ones I can use to my advantage. I think I've already maxed out my NFCU exposure with $72,100 across 3 cards so I figured I'd start seeing where else I could venture. I also looked at my current CU relationships and figured I may be able to build more with them as opposed to starting new relationships elsewhere. I decided to do a combination of both.
When I decide to do an App Spree I always evaluate which bureaus will be pulled to which Bank/CU and I always try to correlate them so that I can do simultaneous applications. That way each individual credit bureau is tapped at the same time. I also look at which CUs I could "double dip" with and use that one inquiry for multiple products.
After doing some research I set my targets for:
Equifax- Langley FCU, NIHFCU, Key Bank, Penfed (existing), SECU MD (existing)
Experian- Dover FCU, NASA FCU, PSECU
Transunion- Alliant?
I have to thank this forum for the spark that set off this chain of events because I did a prequal for Dover FCU that offered me $37K. After I saw that I knew it was time to move on the opportunity. I'll get to the irony of this later lol.
So for Langley, NIHFCU, and Dover I had to create new banking accounts before I could apply for a card. I decided against Key Bank because I'm not in PA. The plan with PSECU was to align that app with the other Experian submittals bc they do an inquiry when you apply for an account. Langley was the easiest of them all to open an account for. They requested a few documents and approved me on the spot. Dover you basically just have to join Friends of Bombay Hook and you're in there. NIHFCU is pending. They've taken the longest and come to find out my initial application was auto denied because my passport photo did not include both sides of the open passport. I had to reapply and that's still pending. NASA FCU you can apply for the card and then join as a member.
After getting my banking account approvals I decided to attack the Equifax bunch. I received an invite to apply for the SECU MD Cash Back card. After already having a $15K card and $10K LOC, I was hesitant about being approved for more so this was def a YOLO app. PENFED I felt the best about because I had my Powercash Rewards card for over a year, hadn't used much, but had been putting some healthy deposits in my checking accout. Having only a $5K CL and a 805 eq score I thought this would be prime for a "double dip". I picked the GOLD Rewards as my card and would ask for a CLI as well. Langley is also a CU that allows a "Double Dip" so the plan was a card and a LOC.
Long story longer I pulled up all 3 apps and pressed "Apply" simultaneously and here's what happened.
PENFED GOLD- 15K approved instantly
LANGLEY- needed to do more research
SECU- needed to do more research
I was definitely discouraged by this but thankful for the instant 15K. I stupidly did this on a Friday evening so I had to wait the whole weekend anxiously for answers. Monday, Langley called and approved me for 15K! I asked if I could use the inquiry for another product and they said yes so I asked for a 10-15K LOC (ultimately this was denied later in the week for exposure as a new customer). I had no gripes with that. I called PENFED Monday morning and asked if I could use the inquiry from the Gold card to get a credit line increase. The rep said that she could not guarantee that I wouldn't get another hard pull but I told her to go for it anyway. Later in the day my Powercash Rewards card was extended to $25K no hard pull!! I'm through the roof at this point because I just went from $5K to $40K with PENFED!! SECU dragged out the longest... but I received a phone call from a rep on Wednesday afternoon saying I was approved for $15K for the new Cash Back card. Now I'm at $40K with SECU MD as well.
$65K off 3 hard pulls was a huge win in my book! But I still had laser focus on Dover FCU!
Now for the Experian group. This is where things went haywire. I pulled up Dover, NASA, and PSECU looking to app at the same time. When I go to hit apply for Dover & NASA something told me to wait on PSECU. As I hit the Dover and NASA apps, the Dover page glitches and doesn't send the App!!! NASA goes through but no instant approval. At this point I just chalk the PSECU app because I really wanted the Dover one from the beginning. After calling, talking to reps, attempting refresh, using refreshed links to the application, I STILL have not been able to APPLY to Dover FCU. They told me someone would call within 24-28 hours and this still has not happened. After scouring the chat, I saw that it took one person 2 weeks between pending application and approval. I also saw that they were asking for multiple years w-2, a reference??, and still not approving people. I'm not sure where this is going to go but everything else is on hold until Dover plays out.
I received a $15K approval from NASA FCU to round out the spree.
All in All... I call an $80,000 hit a success!
PENFED Powercash CLI $20,000
PENFED Gold $15,000
SECU MD Cash Back $15,000
NASA FCU Platinum Advantage $15,000
Langley FCU Platinum Select $15,000
Langley PLOC DENIED
NIHFCU Membership PENDING
My scores didn't move much based on the inquiries but I'm sure they'll be fluctuating pretty soon based on some balance transfers and limit changes that will be happening in the near future.
I hope this information is helpful to anyone looking to hit up some Credit Unions in the near future!
Not going back to the garden just yet, but will keep updating on any additional wins or losses.
One heck of a new credit grab, grats on all of them!!
Congratulations on the new approvals 🎉🎉🎉🎉
Congratulations on all of those approvals! 🎉 Enjoy those new benefits!
Thanks for the lesson and congratulations!
Congratulations! Awesome write-up and blueprint. I love the strategy here!
👍 Nice app spree. Congrats on your approval and SL's!
Wow this is awesome. Congratulations on your approval spree! 🎉
Starting Score: 704