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Mini app spree regrets

Member

Mini app spree regrets

This is my first post. Long story short, I was in the 400’s across the board in and started working on repairing the irresponsibility of my 20’s in 2016. In June of last year, I opened an unsecured Capital One Platinum card with $300 limit. I paid used and paid frequently, but at no point did I charge more than 20% of my limit. In December, I got a small CLI that brought it up to $750. By November, I was in the mid to high 600’s and bought a $300k house. Wahoo!! Just before Christmas I applied for Best Buy Visa and was approved for $3,000 SL! Holy moly!! I charged a tv on it when I opened it (in store) so I already have a $1080 balance on it. 3 weeks later (Monday this week), I went on an app spree trying to get my utilization down. Everything I applied for, I was approved for. These were my results:
Discover It $1,400
Amex Blue Everyday $2,000
My Best Buy $3,000
Chase Freedom Unlmtd $2,000
... and called Capital One to see if they would upgrade my Platinum card. They approved me for Quicksilver. Hard pulls were nearly exclusively from Experian with exception of Discover who also pulled Equifax. I’m down from 672 to 634 on Experian and down to 650 from 660 on Equifax. My TransUnion is at 693 and hasn’t been affected. How bad is it, oh internet docs? I’m feeling like a just ruined all that progress. It’s bittersweet for sure.
Message 1 of 22
21 REPLIES
Senior Contributor

Re: Mini app spree regrets

Chances are your utilization lowered your scores MORE than the new accounts -- and the new account penalties will age away quickly.

 

Please list all your credit cards with limits and balances so we can diagnose.

Message 2 of 22
Member

Re: Mini app spree regrets

I haven’t received any of the new cards yet. All of the points I’ve lost were bc of the hard pulls. The Best Buy will have a balance when it reports, but it hasn’t yet. Discover It $1,400-not used yet
Amex Blue Everyday $2,000-not used yet
My Best Buy $3,000 limit ($1,080 charge)
Chase Freedom Unlmtd $2,000/not used yet
Quicksilver $750 ($40 balance)
Message 3 of 22
Valued Contributor

Re: Mini app spree regrets


Mafia wrote:
I haven’t received any of the new cards yet. All of the points I’ve lost were bc of the hard pulls. The Best Buy will have a balance when it reports, but it hasn’t yet. Discover It $1,400-not used yet
Amex Blue Everyday $2,000-not used yet
My Best Buy $3,000 limit ($1,080 charge)
Chase Freedom Unlmtd $2,000/not used yet
Quicksilver $750 ($40 balance)

I'm afraid some of the CC banks may pull back the approvals when they see your application spree.....  I do not think app spree is good with your credit profile....

Image result for bank of america cash rewards
Message 4 of 22
Valued Contributor

Re: Mini app spree regrets

Congrats Smiley Happy Smiley Happy Smiley Happy Smiley Happy

Message 5 of 22
Member

Re: Mini app spree regrets

I hope not. It may be of importance to mention that I dropped from 700/690/701 last month when my new mortgage reported. I make about $95k/yr and haven’t had a collection, late, or “baddie” for 5 years. Gee whiz if they rescind any of those approvals, it’s going to STINK. I wish I hadn’t done that.
Message 6 of 22
Established Contributor

Re: Mini app spree regrets

*hands a hoe and rake*  to the garden with you

 

Apply for nothing else.  All you can do at this point is sit on what you have, and if it all comes as expected, bonus.

 

 

In the garden since 01/24/18 = Last FICO Update: 06/07/18 = EX 663 = TU 667 = EQ 723 = Steven Seagal of the Garden Club
Message 7 of 22
Member

Re: Mini app spree regrets

*correction 700/690/670
Message 8 of 22
Valued Contributor

Re: Mini app spree regrets

Where are you getting your scores from??
NFCU $60.4k/PenFed $22.5k/Commerce $15K/53 $11K/Synovus $14K/BBT $11K/CapOne $12K/DCU $7.5K/BMO $7.5K/Chase $14.5k/Cabelas $10K/ and many many more!
Total CL $398600, plus car and RV loan.
Ooh. Ooh. Getting closer to that $500K mark!
Message 9 of 22
Member

Re: Mini app spree regrets

MyFico subscription and on my mortgage paperwork from November.
Message 10 of 22