Someone Stop Me, Please! 5th New Card This Week! (I Think I Need Professional Help)

[IcyCool7227]

Here's a simple way to stop apping. Freeze all 3 of your credit reports. Then just use some discipline like losing weight does. It can be done. I think if I am reading it correctly that Navy FCU More Rewards only credits the first annual Walmart plus membership annually and not as a continuous yearly basis afterwards, right?

[Dcowboy08]

Stop... don't... stop...

[Varsity_Lu]

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@IcyCool7227 wrote:

Here's a simple way to stop apping. Freeze all 3 of your credit reports. Then just use some discipline like losing weight does. It can be done. I think if I am reading it correctly that Navy FCU More Rewards only credits the first annual Walmart plus membership annually and not as a continuous yearly basis afterwards, right?

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Yeah, I know.  I'm done for a while.  I keep my reports frozen all the time anyway. 

For those of you who didn't get the sarcasm in my original cry for help, I am actually quite disciplined in my credit card usage.  I look back on the last year and am actually a little shocked by the progress I've made.  I came to myFICO in September of 2024 having only 3 credit cards: Quicksilver, Savor, and BCP.  My scores were mid 700s and I was just wanting to maximize my cash back setup.  Fast forward to now and my scores are approaching 850,  I have multiple 5% cards, still have zero debt, pay my accounts in full each month, and have never paid a dime of interest.  And this little 5-card spree actually may not have done as much score damage as I think, either.  I "only" added 2 HPs on TU, 2 HPs on Eq, and 1 HP on Ex.  Not bad, actually. All the cards will report new around the same time, so I'll only be on the new account scorecard for a year.  Not bad.

Oh, and the free Walmart+ membership seems to be an ongoing thing with Navy even though their wording makes it seem like its a one time thing.  They do the same thing with Amazon Prime on their Flagship card.  People get it every year.

[Varsity_Lu]

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@BoujeeBetty wrote:

I now don't want a card below $15k starting line.  

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Curious, since most card applications don't actually tell you the credit limit before you actually apply.  What is your reasoning behind this? I mean, a lot of us only got a $500 credit limit on Max Cash Preferred, but it is arguably the best utilities card out there.  Just set it and forget it for 5%.  You'd actually turn that down because of the starting limit?

[coldfusion]

Congrats on all the approvals, just keep an eye on the OnePay card when all these cards start reporting in case that triggers Synchrony.

[Vinjints]

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@Varsity_Lu wrote:

Oh, and the free Walmart+ membership seems to be an ongoing thing with Navy even though their wording makes it seem like its a one time thing.  They do the same thing with Amazon Prime on their Flagship card.  People get it every year.

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Where have you seen this?

[coreyb80]

Congrats on the approval!

[Varsity_Lu]

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@coldfusion wrote:

Congrats on all the approvals, just keep an eye on the OnePay card when all these cards start reporting in case that triggers Synchrony.

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You think they will close it so soon after approval?  I mean, I realise it's Synch, but still.

[Varsity_Lu]

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@Vinjints wrote:

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@Varsity_Lu wrote:

Oh, and the free Walmart+ membership seems to be an ongoing thing with Navy even though their wording makes it seem like its a one time thing.  They do the same thing with Amazon Prime on their Flagship card.  People get it every year.

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Where have you seen this?

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So, maybe I'm wrong on this.  I thought I read that it was perpetual like Prime, but now that I search for it, I can't seem to confirm it.

[youngandcreditwrthy]

@Varsity_Lu   I think at some point or another we have all had accounts closed for no activity, or CLD for similar situations, or certain banks that close all of your accounts for deviating from your typical patterns.. so I think that's the warning for all of us.. you should be fine. At least you didn't open more cards in a year than there are months in a year like me! LOL

So many cards can be obtained with a trick of accepted a soft pre approval and then freezing the report thus resulting in many new accounts and only limited inquiries. I only have 2 inqs on eq and 6 on TU and now 7 on TU whilst I have opened roughly 13 accounts in the last year (not racking up debt, trying to expedite CLIs and what not);

The soft pre approvals before.. lets say ten years or longer ago wouldnt tell you what the limit would be so it wasnt as tempting.. and now many cards can be had with only a soft pull. My Bread Amex and Saks WEMC were both only SP so there's a disconnect between number of accounts being opened (less inquiries equals higher score) but that doesn't negate the new accounts. 

I wish that the Credit Card Act, passed with the Dodd Frank Act and amongst the creation of the CFPB,  has/had been argued more in court because "universal default" where a bank takes Adverse Action due to a change in your Score or Report is prohibited, yet no one has brought any legal action and banks continue to engage in this behavior. It may not be them randomly applying penalty rates, but SyncB for example, has been sending letters out to some people where they're increasing rates from already way too high 29,99 to 33.99, etc. 

Anywho, good luck :-)