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App Spree

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HeavenOhio
Senior Contributor

Re: App Spree

Welcome, @deeeteee. Smiley Happy

 

What caused you to apply for the Capital One Platinum? Those tend to come with low limits due to the nature of the product. Your profile had you well positioned for better cards like the Quicksilver, SavorOne, or Savor.

 

It's interesting that you were given a limit on the Gold. We see that from time to time. But that won't be the limit on your credit report as charge cards don't report limits.

 

Most FICO scores ignore charge cards when computing utilization. The Experian 98 (FICO 2) family of scores includes charge cards, and it uses the card's highest balance in lieu of a limit. All FICO versions count charge cards toward one's total balances and number of accounts with balances.

 

You'll want to do what you can to protect your Chase card. As mentioned, Chase cards acquired during sprees have a poor survival rate.

 

For CLIs, I'd zero in on Discover and Synchrony. With Discover, start requesting sometime after your third statement. Request again 60 days after an approval or 30 days after a denial. I don't know the ins and outs of Synchrony.

 

It's time to garden for at least a year. At that point, your baddies will be gone, you'll get a nice scoring bonus for your AOYA (age of youngest account) reaching a year, and all of your inquiries will become unscorable.

Message 11 of 25
deeeteee
Member

Re: App Spree

 


@HeavenOhio wrote:

Welcome, @deeeteee. Smiley Happy

 

What caused you to apply for the Capital One Platinum? Those tend to come with low limits due to the nature of the product. Your profile had you well positioned for better cards like the Quicksilver, SavorOne, or Savor.

 

It's interesting that you were given a limit on the Gold. We see that from time to time. But that won't be the limit on your credit report as charge cards don't report limits.

 

Most FICO scores ignore charge cards when computing utilization. The Experian 98 (FICO 2) family of scores includes charge cards, and it uses the card's highest balance in lieu of a limit. All FICO versions count charge cards toward one's total balances and number of accounts with balances.

 

You'll want to do what you can to protect your Chase card. As mentioned, Chase cards acquired during sprees have a poor survival rate.

 

For CLIs, I'd zero in on Discover and Synchrony. With Discover, start requesting sometime after your third statement. Request again 60 days after an approval or 30 days after a denial. I don't know the ins and outs of Synchrony.

 

It's time to garden for at least a year. At that point, your baddies will be gone, you'll get a nice scoring bonus for your AOYA (age of youngest account) reaching a year, and all of your inquiries will become unscorable.


HeavenOhio

 

 

 

 

Message 12 of 25
LittleSal
Frequent Contributor

Re: App Spree

Congrats on the mega spree!!!

I hope Chase sticks the landing. 😉
Message 13 of 25
Anonymous
Not applicable

Re: App Spree

Congrats on the spree! The $500 SL on the Cap1 Plat was a sign for sure that the tank was running low regardless of the fact that its a bucketed card. They may have even hit you with a Denial for a higher tier like the QS or Savor. Made good while riding on fumes towards the end Smiley Very Happy ....Oh and if Bae (Chase SP) finds out about the side piece you had a one night stand with (Cap1 Plat)... you may have some splaining to do Smiley LOL

Message 14 of 25
GetMeSlick
Established Contributor

Re: App Spree

Great Spree OP. Enjoy

4/2024 FICO TU-840|EX - 838|EQ -840
Total Credit - $535K+
Starting Score: 640
Current Score: 840
Goal Score: 850


Take the myFICO Fitness Challenge
Gardening since Mar/2024
Message 15 of 25
britt585
Regular Contributor

Re: App Spree

congrats....Can you please share who they all pulled...thanks

Message 16 of 25
zerofire
Valued Contributor

Re: App Spree

You sure that is an App Spree? It looks like you might have your own card printing lab. Regardless that is a great haul. Lastly like others have said be very careful with Chase in a spree. They are slightly more savvy at finding out who you court and if they disapprove your treatment of another lender they will get...vengeful.

TU:837 09/19/23 Bank of America--EX: 841 09/20/23 Experian--EQ:832 09/21/23 myFICO--Gardening since N/A
Active:
Bank of America (Unlimited Cash Rewards WMC, Customized Cash Rewards WMC, Customized Cash Rewards VSC), Capital One Walmart WMC, Chase(Amazon Prime VSC, Freedom Flex WEMC [x2], Freedom Unlimited VC), Citi Dividend MC, Citizens GreenSense MC, Curve WEMC, Discover It C, FNBO Ducks Unlimited VSC, PenFed (Platinum Rewards VSC, Pathfinder Rewards VSC), Synchrony Bank PayPal Cashback MC, UMB Bank Simply Rewards VC[Milford Federal], US Bank (Altitude Go VSC, Cash+ VSC [x2], Pick n Save/Metro Market WEMC)
Wishlist: AAA Daily Advantage Visa, AOD Signature, Bellco Colorado Rewards, Citi Custom Cash, EBates, Nusenda Platinum Cash Rewards, Ollo Optimum, Redstone Signature, Security Service Power Travel Rewards, Vantage West Connect Rewards
Message 17 of 25
Anonymous
Not applicable

Re: App Spree


@zerofire wrote:

You sure that is an App Spree? It looks like you might have your own card printing lab. Regardless that is a great haul. Lastly like others have said be very careful with Chase in a spree. They are slightly more savvy at finding out who you court and if they disapprove your treatment of another lender they will get...vengeful.


FYI... "Insurance" companies can peek into your SPs on your CR. Just saying. If you look at your "Full" CR and notice any companies with "Insurance" or "Ins" in the title in the SP Inquiry section and they are connected to a lender then they know whose sandbox youve been playing in and when.

Message 18 of 25
deeeteee
Member

Re: App Spree

First off, I highly do not recommend anyone going on an app spree.

If you want to build credit the best advice I got from this forum is "rebuilding credit is a marathon, not a sprint."

 

My points dropped -56 points with after all the smoke has been cleared. I went into to this knowing full well that my points are going to drop and I will have a lot of inquiries across all 3 credit bureau. I could have easily just got a couple of CC every 3 months and have my score dropped a little at a time and play around with AAoA that is the safe route.

 

I chose this route because I will be using the AZEO method with all the new accounts I got.  Half of the cards I got it will be in the sock drawer (swiped once in a awhile to keep active). After maxing out my SUB. I won't need credit for another year. By that time my chargeoff will be off my credit report and my AAoA will bounce back. 

 

I see a lot of comments worried about Chase Sapphire Preferred card. I don't blame you. It's a very nice card with great benefits. I even see it as a dream card for a lot of members here. For me I'm not too worried about it. If it's gone it's gone. It is what it is. If my Chase card does get cancel for any weird reasons, I will let the community know and we can all learn from facts alone and not speculation. I do appreciate the sound advice from the veteran credit pro here about it. Thank you.

 

My favorite CC is still my NFCU cards. Not only do I have the largest CL with them but I also received great rates for the past auto loans I have gotten through them. And their customer service is on point. All my military friends, I always advise them to open up with NFCU or USAA account.

 

Message 19 of 25
Anonymous
Not applicable

Re: App Spree

Congratulations!!!

I'm especially concerned about that CSP since you had to recon it in the first place. But what's done is done and just maybe Chase will let you hold on. It's time for a long gardening SPREE.

Message 20 of 25
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