Applied 8 Credit Cards/accounts at same time

[Anonymous]

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wrote:

Yesssss!!! You should read that thread titled "App Spree 2.0." Very recommended!

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Yes, there are others on here insane too. There is a small group on here that is applying crazy. Just because a few do it, doesn’t mean it’s smart. Some people may get lucky and show no ill affects but there are many on here that have had accounts CLDed because of this. And some of them have thick strong profiles that help get away with it. For ANY rebuilder or first time builder this kind of activity is asking for nothing but trouble. Asking to have creditors close down accounts. And not knowing if a person is responsible enough or not to handle that many accounts. Two or three accounts is no big deal. But I advise anyone going crazy may have serious issues. But to each their own. We are all just trying to give solid advise on here. But some encourage cray things. Buyer beware.

[kugel]

Bad move to apply to all this store cards
It’s a huge mistake credit builders do
Instead of having a few good bank cards and let it grow,
This store cards with small limits don’t grow much specially if u don’t use than allot ,
I made same mistake before my bk
And now this how it looks since I learned my lesson


Re: 2 years post bk and back to normal credit
Updated

Nfcu. $25,000
Nfcu cloc $15,000
Discover $18000
Blispay. $5,000
Quick silver $7.250
Venture. $9,500
PenFed. $10,000 promise
Amazon. $5,000
PenFed power cash $33,000
Savor card cap1 $11,000
New card Amex nfcu $9,300

[Anonymous]

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wrote:

Hi Folks, Its my first post here.

Credit History:

Applied for 1st credit card (CreditOne - $300) (AUTHORIZED USER) in June 2017. Then received pre-approved offer $300 from CAP ONE in October 2017, applied & got the card (Limit: $300).

Nov 2017: CreditOne CLI $300 -> $450

Dec 02 2017: Applied for the following:

WALMART Store Card (APPROVED: $300)

Amazon Store Card (APPROVED: $1800!! - Was so excited, but still asked the representative over phone: HOW MUCH DID YOU SAY? lol)

PNC Core Visa Credit Card (APPROVED: $1000 - Have a checking PNC account and usually deposit $1200 - $1500 cash everymonth, but the average monthly balance is $200 on it. Deposited $3000+ in November and then deposited $800 on the day I applied for PNC credit card)

KOHL's Store Card (DENIED!)

CapitalOne QuickSilverOnee (APPROVED: $300)

FingerHut Credit (PENDING, Didn't call them yet to complete the application over phone)

TJMAX Credit Card (PENDING, Just called to complete the application over phone after applying online and the representative said I will recieve a decision tonight)

Target Redcard (Decision pending)

I don't know if it was smart choice to apply for 7 credit cards/accounts in 1 day. I have 11 inquries on my report right now (TU Score: 648, Total Credit Line: $750 as of today as I didn't receive/activate any of them new cards yet). I am not planning to apply for new cards for atleast a year now ofcourse.

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Congratulations on your approvals.  I'm not sure if it was a wise decision to app so many accounts at once, and so many store cards with relatively low SLs.  It's easy to get intoxicated with approvals, I've been there, done that.  Fortunately for me I have a deeper credit history and higher scores. 

I recently went on an 8-day, 7-card spree of my own, bank cards rather than store cards.  And while initial success was achieved and decent SLs came with them, I almost lost my 2 most coveted cards (CSP & Freedom Combo).  The rash of applications in a short time triggered a risk review by Chase and by the time my cards arrived, my accounts had been closed.  I was able to recon to a Sr Underwriter which took 6 days to review.  I explained why I was applying and admitted I got over-excited.  They looked deeply at my history with revolving accounts and installment accounts and saw that I'm not a reckless spender, rarely carry balances, and have an excellent on-time payment history.  I was ultimately granted reinstatement on both accounts.  It was certainly a "wake-up call" for me and a mistake I WILL NOT make again! 

Enjoy your recent success, learn and progress, spend and pay wisely!

[morgacj2004]

Have to disagree with previous poster who stated Wal-Mart card is Much preferred over Kohls or Target. For me personally I can't stand Wal-Mart and our 2 Same Club stores just closed. No big loss there as Costco is far superior IMHO. I have the Kohls and Target cards both of which offer good savings 5% + I would suggest those 2 cards over the Wal-Mart card. Get rid of Credit One Asap and fingerhut. Slow down and app carefully.

[BronzeTrader]

I get a 19-year who has 10 credit cards, all with AmEx, BA, Barclay, Citi and Discover. Total $45,000 credit line.

If you build a solid credit profile with a couple good cards, more will come to you, easily.