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Multiple approvals-what to do now?

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Anonymous
Not applicable

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
gabeerwin
Contributor

Re: Multiple approvals-what to do now?

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

Message 2 of 16
xaximus
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 770 +
TCL - Est. $410K
Message 3 of 16
Anonymous
Not applicable

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
Anonymous
Not applicable

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
19eighty5
Senior Contributor

Re: Multiple approvals-what to do now?

Congratulations on your approvals!

FICO 8 (Feb 2018):EX- 519, TU- 530, EQ- 545
FICO 8 (Sept 2022):EX- 706, TU- 685, EQ- 684
What's in my wallet:


Message 6 of 16
Anonymous
Not applicable

Re: Multiple approvals-what to do now?

Congrats on your mortgage and approvals!  Enjoy Smiley Happy

Message 7 of 16
MartyWrite75
Valued Contributor

Re: Multiple approvals-what to do now?

Congratulations on your approvals! 

March 2024: Experian 762; Equifax 767; Transunion 769


Cards I Have:
Cap One QS: $600 (Sock drawer) || Cap One QS (#2): $6,200 (Sock drawer) || Discover It: $11,400 || Cap One Walmart: $600 (Sock drawer) || AMEX BCP: $8,900 || Amazon Prime Store Card: $10,000 || FNBO Rewards Visa: $2,600 || Discover Cash Back: $5,500 || Citi Custom Cash: $9,500 || Verizon VS Visa: $10,000 || Amex Hilton Honors: $10,000 || Amazon (Chase) Prime Rewards (VS): $9,500

Wishlist Cards:
Paypal Mastercard || Bread Mastercard

Gardening to 04/2024(ideally)
Total Utilization: 11%
Inquiries: Exp: (2) Trans: (1) Equif: (1)

Message 8 of 16
Anonymous
Not applicable

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
Anonymous
Not applicable

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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