A Spree and its Aftermath

[markhs777]

Good job, unless applying for a mortgage don't worry about a Fico score drop because of new cards. It goes with the territory when obtaining cards and the score recovers quickly 

[beargrease]

I gather that should be the case, if I don't get an automatic CLI before, I will ask after 180 days. It's too bad it's redundant for my spend (the most use would be the 3% back for Exxon/Mobil gas and the current 5% back on groceries I have) because it's such a seamless user experience, with the Apple Cash and now Apple Savings. 

[beargrease]

@PayAndProsper I looked into the Bilt because it seems close to too-good-to-be-true. But alas I pay rent with paper bills or checks currently, per the landlord's preference. It may be worth another look in 18 months though, and likely through my P2 who has fewer trade lines and a deeper relationship with Wells Fargo than I do.

[PayAndProsper]

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@beargrease  escribió:

@PayAndProsper I looked into the Bilt because it seems close to too-good-to-be-true. But alas I pay rent with paper bills or checks currently, per the landlord's preference. It may be worth another look in 18 months though, and likely through my P2 who has fewer trade lines and a deeper relationship with Wells Fargo than I do.

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@beargrease Be aware that Bilt will allow your landlord to be paid as they prefer. They will cut and send them a paper check on your behalf and still allow the transaction to count as a credit transaction for you. I'm not trying to push you, but just in case you weren't aware.

[alextercero]

Congrats on the approvals

[MartyWrite75]

Congratulations on your approval spree!

[CreditAggie]

Congratulations on your approvals!

[butterpecan]

@beargrease I am so very unfamiliar with all of the ins and outs, thanks for this post it is helpful. I was not sure it was beneficial to be added on as an AU to help with age and limits. I am rebuilding and have 4 brand new very small accounts on my own and 4 very old baddies about to fall off. Should I get added to an AU with a 15k limit that's 5 yrs old so you think? 

[beargrease]

@butterpecan I don't know enough about FICO scoring or what lenders look for to say at this point, but it's worth making your own post to get actionable information. You're in the right place for sure.

[beargrease]

I'm going to provide periodic updates for future readers. It's now a month since my last approval, so the aging has begun. May 31 Experian FICO 8 only score dropped from 784 to 783 - much better than I thought! Helpfully, Experian says that my AAoA used to be 14 years 3 months (not sure when that was measured though) and it has dropped to now to 12 years 10 months. The 2 AmEx cards aren't reporting yet (that's 3/5 new lines reporting). My Exp FICO 9 (per Wells Fargo) dropped from 817 to 805 (5/26/23), 1% credit usage.

It's been a lesson in complexity, juggling 4 SUBs with the Freedom Flex's (Amazon/Lowe's) and Apple's (5% groceries) rotating categories, and a mix of cash back vs. points. Enough to learn that it's not for me, I'm just not cut out to be a full-on maximizer!