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Multiple approvals-what to do now?

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Member

Multiple approvals-what to do now?

So I just closed on my house Monday and wanted to see about approval for furniture. I’m convinced synchrony hates me, was declined. I’m thinking of waiting 1 yr before trying with them again for anything. Comenity though approved me for 1500 on Wayfair and 500 Avenue before declining Pottery Barn. I didn’t see any pop up approvals in the shopping cart for Children’s Place or VS so I consider comenity done. I found a prequal site for Discover. Y’all they approved me for 10,000. Target approved for 300. Now, I definitely don’t intend on using up all of these, my intent is to open up some lines with brands/companies I actually frequent before my score dips with the new mortgage. I want to keep all my utilization low (0% with cards I have before these new ones got added). Do you think I am at a stopping place to garden or is there one more card you would recommend for building credit?
Message 1 of 16
15 REPLIES 15
Contributor

Re: Multiple approvals-what to do now?

Congrats on the approvals.. especially Discover!  NICE LIMIT!!

Message 2 of 16
Valued Contributor

Re: Multiple approvals-what to do now?

Congrats on your approvals as of now. I would call it a break and hit the garden. Once denials start coming, that's usually a sign to stop. It's also risky to keep going because it's possible for AA to happen. Credit seeking behavior is a real sticky situation as well. I would build on what you have for now and give it atleast 6 months to a year.


Scores - All bureaus 750 +/-
TCL - Est. $275K
Message 3 of 16
Member

Re: Multiple approvals-what to do now?

Thank you! I’ve never had a limit that high before. I’m still in shock
Message 4 of 16
Frequent Contributor

Re: Multiple approvals-what to do now?

Seeking a lot of credit in a short time can lead to adverse actions by many lenders. I would garden and allow your accounts to age and build a positive credit history. Congratulations on your mortgage and current approvals... 

Message 5 of 16
Senior Contributor

Re: Multiple approvals-what to do now?

Congratulations on your approvals!

Starting Scores FICO 8 (Feb '18):
EX- 519, TU- 530, EQ- 545

Current Scores



Message 6 of 16
Regular Contributor

Re: Multiple approvals-what to do now?

Congrats on your mortgage and approvals!  Enjoy Smiley Happy




Goals: Gardening until November 2020; and FICO 8 Scores reach 750 TU/EX/EQ
Starting Score: 627
Current Score: 696
Goal Score: 750


Take the myFICO Fitness Challenge
Message 7 of 16
Established Contributor

Re: Multiple approvals-what to do now?

Congratulations on your approvals! 

October 2019 Current Scores: Experian-670
TransUnion-680
Equifax-696
Goal for 2019: Scores of 675 all across the board.
Gardening until Spring 2020

Cap One (PCed to Quicksilver 7/20/18) $500
C1 Quicksilver One $1.6K
DiscoverIt Chrome $1.8K
Walmart Store Card $500
Ollo Rewards Card $800
Amazon Store Card $1K

Cards I Want: Paypal 2%, CareCredit, Capital One Savor

Total Utilization: 30%
No baddies
Inquiries to Date- 3


Message 8 of 16
Valued Contributor

Re: Multiple approvals-what to do now?

Congrats on your new house and approvals! Like others have said, it's best to head to the garden for now! Smiley Happy






Message 9 of 16
Member

Re: Multiple approvals-what to do now?

Yep that’s exactly what I was thinking. I’m going to garden for the next year and see how it grows 😄

Thanks for the support!
Message 10 of 16
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