New App Spree

[djshifted]

So, I had an unplanned app spree on Friday with some good results and bad results.

The good:

Discover IT - Instant Approval (w/o 0% offer) $1k (recon for higher CL attempted, denied)

USAA AMEX Cash Rewards Plus - Instant Approval $2500

PenFed Platinum Rewards Visa Signature - Approval - $5000 (Went to loan officer for review, called immediately and had an answer within 10 minutes)

Gander Mountain Mastercard (Comenity) - Instant Approval - $1000 (attempted recon/CLI, denied)

The bad:

Marvel Mastercard - Instant Decline (called for recon, no luck)

Citi AAdvantage Platinum Select - Instant Decline (will call EO for recon Monday)

I may try for the PenFed Promise Visa or PLOC (credit pull good for 90 days).  Might try one or two others, but I'm not sure where to look next, maybe BofA.

[Anonymous]

Congrats!

[Anonymous]

Do you have any baddies? Citibank won't approve if you so much as have a 30 day late.

Your scores are too low for Citibank. IMO, you may have better luck with scores 700 or VERY close with no baddies.

[RonM21]

Congrats on the success and approvals that you got!

[Anonymous]

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@djshifted wrote:

So, I had an unplanned app spree on Friday with some good results and bad results.

The good:

Discover IT - Instant Approval (w/o 0% offer) $1k (recon for higher CL attempted, denied)

USAA AMEX Cash Rewards Plus - Instant Approval $2500

PenFed Platinum Rewards Visa Signature - Approval - $5000 (Went to loan officer for review, called immediately and had an answer within 10 minutes)

Gander Mountain Mastercard (Comenity) - Instant Approval - $1000 (attempted recon/CLI, denied)

The bad:

Marvel Mastercard - Instant Decline (called for recon, no luck)

Citi AAdvantage Platinum Select - Instant Decline (will call EO for recon Monday)

I may try for the PenFed Promise Visa or PLOC (credit pull good for 90 days).  Might try one or two others, but I'm not sure where to look next, maybe BofA.

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Congratulations....!!!!   

I see your scores are dated from 1/2016...  do you mind providing your data points on the PenFed Platinum Rewards. 

Your scores... your average age of accounts.. apps in the last 6-12 months... new accounts in the last 6-12 months. 

Im itching to apply because in a year or 2 I need more than credit cards and I really need to add a CU.  

TIA 

PS Try some PreQual sites .... I do not think BoA has a prequal site... I know that Citi does.  I was approved for Citi AAdvantage (I had received an invite in the mail) my scores were not in the 700's.  They were in the high 600's.. I was approved for 4K.   

[djshifted]

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@Anonymous wrote:

Do you have any baddies? Citibank won't approve if you so much as have a 30 day late.

Your scores are too low for Citibank. IMO, you may have better luck with scores 700 or VERY close with no baddies.

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I definitely still have some baddies on my report.  I wasn't expecting too much from Citi, but I am going to be doing some traveling soon so the AAdvantage points were attractive.

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@Anonymous wrote:

Congratulations....!!!!   

I see your scores are dated from 1/2016...  do you mind providing your data points on the PenFed Platinum Rewards. 

Your scores... your average age of accounts.. apps in the last 6-12 months... new accounts in the last 6-12 months. 

Im itching to apply because in a year or 2 I need more than credit cards and I really need to add a CU.  

TIA 

PS Try some PreQual sites .... I do not think BoA has a prequal site... I know that Citi does.  I was approved for Citi AAdvantage (I had received an invite in the mail) my scores were not in the 700's.  They were in the high 600's.. I was approved for 4K.   

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Thanks! Sure thing.  

Typically I do an app/CLI spree every ~12 months to limit recent inquiries.  Last one was January (I broke my pattern this time).

Today's Scores (From CCT):
EX - 647, TU - 662 - EQ, 667

USAA score: EQ 697

PenFed score: EQ 710

Baddies - 3x Chargeoffs, 2-3 collections on each.  DoFD on all are 5+ years ago (though some have more recent last reporting)

Inquiries before spree

EQ: 6 months - 4, 12 months - 4, 24 months - 31

EX: 6 months - 6, 12 months - 7, 24 months - 24

TU: 6 months - 4, 12 months - 4, 24 months - 16

AAOA:

4.1-5 years per CCT

Oldest account:

10.7 - 12 years per CCT

New Accounts:

6 months: 4

12 months: 5

An additional data point on PenFed, I've had an account open with them for about 18 months, no activity.  I primarily bank with Regions.

The only mailers I've been receiving lately are from the 'bad' issuers (Merrick, Blaze, etc.), store cards (Belk & Home Depot), and high interest personal loans (LendingClub & SpringLeaf).  I've received a few invitations to apply from Discover (their prequal site would only show me the IT Chrome for students).

I checked all the prequal sites, the only other two that are giving me a recommended result is BofA BankAmericard Cash Rewards and US Bank College Visa and Secured Visa.

Edit: Forgot to include, utilization is 6%-9%, I typically pay all but 2 cards off before the statement cuts.

[Anonymous]

Just my 2 cents: I wouldn't app for BoA if you do not already have a banking relationship with them. I apped them last after getting 5 cards during my last spree. I was denied and they have no underwriting. You can't backdoor BoA and it's super annoying. They're rewards aren't even worth it, I'd look at an Amex since I believe it's easier to get now and at least you can call underwriting. Good luck!

[djshifted]

Thanks for the info on BofA.  AMEX is definitely easier to get now, I got my first AMEX at the end of January, the Delta Gold card.  I didn't try there this time because I didn't expect them to consider me for another card after only 5 months.

[Anonymous]

Congrats!

[Loquat]

Congrats on the approvals...you did really well.  And I'll add that I agree with the other post upthread...BOA is a tough nut to crack. I've banked with them for 15+ years and they just let me in the door here recently.  My scores are slightly higher than yours and they welcomed me (although I'm completely happy with it) low limits.  I'll nurture my cards with them and see if they grow.  My CashRewards card has been getting a workout because they just included warehouse clubs in the 2% mix and I'm at Sam's Club at least once a week...often times twice.