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I'm worried. Approved ETFCU?

idolimage
Regular Contributor

I'm worried. Approved ETFCU?

I am worried because right before AA by Citi shutting down 5 of my cards, I had applied for a card with ETFCU. I figure it was denied because I got the normal 7-10 day response. I had applied for a $10k limit to match my NFCU Flagship.

When things went down with Citi I decided to garden and only work on Non-PG business credit accounts and build that up, which I was approved for a nice few accounts.

So fast forward I went out of town for 2 weeks to DC to enjoy the holidays and returned this past Wednesday. I check my mailbox and there is a card and approval letter from ETFCU for $5k which is my 2nd highest major card limit! So at first I was excited, but now I am worried because it will add a new account to my credit report Smiley Sad and I suppose to be in the garden. Now I'm worried about more AA from others.

Does Navy do AA often? I know commenity and Sync does. The accounts I'm worried about are ones I use often. Help!!

I'm super happy and super worried at the same time. Almost got me thinking about what other cards I applied for that may have taken a while.
ETFCU Auto Loan - NFCU CLOC $15k

In My Wallet:

NFCU Flagship Visa $17k
ETFCU Prim Plus MC $5k
NFCU More Rewards Amex $3k
Amex Marriot Business Bonvoy $3k
DiscoverIT $2.2
Amex Hilton Honors $1k

Dresser Wallet:

Wayfair $9k
JC Penny $6k
Walmart $3k
Zales $2.45
Belk $1.5k

Business Accounts:

Amazon Corporate $4.5k
Fuleman Fleet $1.2k
BP Business Solutions $1.2k
Staples $1k
Office Depot $1k
Quill $0.1k
Uline $0.1k

Sock Drawer:

CapOne QS1 $1.55k
Merrick Bank $1.4k
Amex Delta Blue $1k
USAA Classic Amex $0.5k
CarCare $0.5k
PayPal MC $0.3k
Target $0.3k

RIP:

Best Buy Visa $4k (AA)
Sportsman Guide Visa $2.5 (AA)
Citi AAdvantage $2.5k (AA)
Mattress Firm $1.5k (Closed for no activity)
Finger Hut $1k (Closed for no activity)
Home Depot $0.5k (AA)
Shell Gas $0.5k (AA)
CapOne Platinum $0.7k (Combined into QS1)
Credit One MC $0.45k (Closed)
Credit One Visa $0.8k (Closed)
First Premier Visa $0.7k (Closed)
Indigo $0.3k (Closed)
Avant $0.3k (Closed)
Message 1 of 12
11 REPLIES 11
xaximus
Valued Contributor

Re: I'm worried. Approved ETFCU?

Congrats on the approval. I wouldn't worry too much since it is a CU and they aren't well known to AA. (Again, YEMV). What I would do is to start trimming the cards that you don't need to stream-line your profile. AA happens for a multitude of reasons from bust out fraud to credit seeking behavior and more. I would relax in the garden for atleast 6-12 months and trim what you don't need.


Scores - All bureaus 756 +
TCL - Est. $275K
Message 2 of 12
idolimage
Regular Contributor

Re: I'm worried. Approved ETFCU?

Yes, I have 3 cards on the chopping block. I plan on staggering the closures. Since Citi Closed 5 and commenity closed one so thats six in November/December. Then I closed about 6 in Octover like Avant, Credit One and etc. I dont want to close that many more cards in a short period. Noticing everytime I close I take a hit. So I want to lower UTL before closing each card so the percentage after closure will stay about the same if that makes sense.
ETFCU Auto Loan - NFCU CLOC $15k

In My Wallet:

NFCU Flagship Visa $17k
ETFCU Prim Plus MC $5k
NFCU More Rewards Amex $3k
Amex Marriot Business Bonvoy $3k
DiscoverIT $2.2
Amex Hilton Honors $1k

Dresser Wallet:

Wayfair $9k
JC Penny $6k
Walmart $3k
Zales $2.45
Belk $1.5k

Business Accounts:

Amazon Corporate $4.5k
Fuleman Fleet $1.2k
BP Business Solutions $1.2k
Staples $1k
Office Depot $1k
Quill $0.1k
Uline $0.1k

Sock Drawer:

CapOne QS1 $1.55k
Merrick Bank $1.4k
Amex Delta Blue $1k
USAA Classic Amex $0.5k
CarCare $0.5k
PayPal MC $0.3k
Target $0.3k

RIP:

Best Buy Visa $4k (AA)
Sportsman Guide Visa $2.5 (AA)
Citi AAdvantage $2.5k (AA)
Mattress Firm $1.5k (Closed for no activity)
Finger Hut $1k (Closed for no activity)
Home Depot $0.5k (AA)
Shell Gas $0.5k (AA)
CapOne Platinum $0.7k (Combined into QS1)
Credit One MC $0.45k (Closed)
Credit One Visa $0.8k (Closed)
First Premier Visa $0.7k (Closed)
Indigo $0.3k (Closed)
Avant $0.3k (Closed)
Message 3 of 12
xaximus
Valued Contributor

Re: I'm worried. Approved ETFCU?


@idolimage wrote:
Yes, I have 3 cards on the chopping block. I plan on staggering the closures. Since Citi Closed 5 and commenity closed one so thats six in November/December. Then I closed about 6 in Octover like Avant, Credit One and etc. I dont want to close that many more cards in a short period. Noticing everytime I close I take a hit. So I want to lower UTL before closing each card so the percentage after closure will stay about the same if that makes sense.

Definitely a good idea on staggering the cards to close and keeping your UTIL low. If you havn't already, I would make a spreadsheet that has all your cards, due dates, date opened, CL, CL used, UTI, etc. This way, you can see what the damage to the total UTI will be versus what your TCL is. 



Scores - All bureaus 756 +
TCL - Est. $275K
Message 4 of 12
idolimage
Regular Contributor

Re: I'm worried. Approved ETFCU?

Already a step ahead. I created one last summer when I started adding more cards. It is super convient because soon as I put in new numbers it shows the UTL % change. It is Awesome. Yeah I will start dropping. Luckily cards like target, car credit and etc have low $300-$500 limits so it wont hurt too bad. Its matress firm and some others with $1500 that will hurt.
ETFCU Auto Loan - NFCU CLOC $15k

In My Wallet:

NFCU Flagship Visa $17k
ETFCU Prim Plus MC $5k
NFCU More Rewards Amex $3k
Amex Marriot Business Bonvoy $3k
DiscoverIT $2.2
Amex Hilton Honors $1k

Dresser Wallet:

Wayfair $9k
JC Penny $6k
Walmart $3k
Zales $2.45
Belk $1.5k

Business Accounts:

Amazon Corporate $4.5k
Fuleman Fleet $1.2k
BP Business Solutions $1.2k
Staples $1k
Office Depot $1k
Quill $0.1k
Uline $0.1k

Sock Drawer:

CapOne QS1 $1.55k
Merrick Bank $1.4k
Amex Delta Blue $1k
USAA Classic Amex $0.5k
CarCare $0.5k
PayPal MC $0.3k
Target $0.3k

RIP:

Best Buy Visa $4k (AA)
Sportsman Guide Visa $2.5 (AA)
Citi AAdvantage $2.5k (AA)
Mattress Firm $1.5k (Closed for no activity)
Finger Hut $1k (Closed for no activity)
Home Depot $0.5k (AA)
Shell Gas $0.5k (AA)
CapOne Platinum $0.7k (Combined into QS1)
Credit One MC $0.45k (Closed)
Credit One Visa $0.8k (Closed)
First Premier Visa $0.7k (Closed)
Indigo $0.3k (Closed)
Avant $0.3k (Closed)
Message 5 of 12
xaximus
Valued Contributor

Re: I'm worried. Approved ETFCU?

What I would do is as you trim your cards, work on your CLIs at the same time. Discover grows pretty quickly and since it's one of your heavy usage cards, I would request CLIs on it often. Also remember to DD. Same with Amex. 3x CLI every 6 months. If the Paypal MC is the 2% CB, I would add that to your heavy usage card as all the categories you aren't getting with Discover 5%, I would use the Paypal card for. I think with just those 3 being used and CLI's, you won't have to worry about the drop in CL as the CLI's will more then cover it.


Scores - All bureaus 756 +
TCL - Est. $275K
Message 6 of 12
AverageJoesCredit
Mega Contributor

Re: I'm worried. Approved ETFCU?

You should be ok. Id maybe keep the Target. That can grow in time. If you've closed about 12 cards recently including by lenders, id take a short break in closing unless absolutely needed. Let your profile breathe a couple months. Congrats on your new CUSmiley Happy
Message 7 of 12
idolimage
Regular Contributor

Re: I'm worried. Approved ETFCU?

I'm still trying to figure Target out Joe lol. $300 limit since I think March of 2018 or November of 2017, I cant figure out if it was target or walmart first lol. Either way I put tons of spend, to no spend....i cant figure them out
ETFCU Auto Loan - NFCU CLOC $15k

In My Wallet:

NFCU Flagship Visa $17k
ETFCU Prim Plus MC $5k
NFCU More Rewards Amex $3k
Amex Marriot Business Bonvoy $3k
DiscoverIT $2.2
Amex Hilton Honors $1k

Dresser Wallet:

Wayfair $9k
JC Penny $6k
Walmart $3k
Zales $2.45
Belk $1.5k

Business Accounts:

Amazon Corporate $4.5k
Fuleman Fleet $1.2k
BP Business Solutions $1.2k
Staples $1k
Office Depot $1k
Quill $0.1k
Uline $0.1k

Sock Drawer:

CapOne QS1 $1.55k
Merrick Bank $1.4k
Amex Delta Blue $1k
USAA Classic Amex $0.5k
CarCare $0.5k
PayPal MC $0.3k
Target $0.3k

RIP:

Best Buy Visa $4k (AA)
Sportsman Guide Visa $2.5 (AA)
Citi AAdvantage $2.5k (AA)
Mattress Firm $1.5k (Closed for no activity)
Finger Hut $1k (Closed for no activity)
Home Depot $0.5k (AA)
Shell Gas $0.5k (AA)
CapOne Platinum $0.7k (Combined into QS1)
Credit One MC $0.45k (Closed)
Credit One Visa $0.8k (Closed)
First Premier Visa $0.7k (Closed)
Indigo $0.3k (Closed)
Avant $0.3k (Closed)
Message 8 of 12
itduzz
New Contributor

Re: I'm worried. Approved ETFCU?

WHat is AA?

Message 9 of 12
xaximus
Valued Contributor

Re: I'm worried. Approved ETFCU?


@idolimage wrote:
I'm still trying to figure Target out Joe lol. $300 limit since I think March of 2018 or November of 2017, I cant figure out if it was target or walmart first lol. Either way I put tons of spend, to no spend....i cant figure them out

It may depend on your scores. Your EQ and EX are borderline. When lenders SP your CR and see the history, age, income, accounts open/closed, score, etc. All of that info goes into an algorithm which then determines if you can get a CLI or not. 

 

@itduzz wrote:

WHat is AA?

AA is adverse action. Something like a CLD (credit line decrease), account closure or any behavior such as credit seeking, bust out fraud, etc. Basically, anything negative a lender can do.



Scores - All bureaus 756 +
TCL - Est. $275K
Message 10 of 12
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