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Adverse Action from a credit card spree ??

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youngman1234
Established Contributor

Adverse Action from a credit card spree ??

Which lenders could potentially resort to AA after a credit card spree ??? 

 

I am looking to apply for the following:

 

1. Penfed LOC & CLI ( 1 Pull)

2. BOA CLI ( 1 PULL)

3. DISCOVER CLI ( 1 PULL) 

4. CHASE SAPP (1 PULL)

5. CHASE Ink Plus

6. Citi Presitge (1 pull)

7. DCU Visa (1 pull) 

8. Alliant CLI (1Pull) 

9. Paypal credit Card 

10. Fidelity Amex 

11. Ameriprise Fincial elite 

 

I know its alot but tech its only 7 new accounts... I have closed over 8 in the past 10 months.... 

Message 1 of 47
46 REPLIES 46
HiLine
Blogger

Re: Adverse Action from a credit card spree ??

Any creditor could flag your account due to too many new accounts. Amex and Barclays especially, I've heard. 

Message 2 of 47
Luscher
Valued Contributor

Re: Adverse Action from a credit card spree ??

thats a ton of cards for 1 spree. GL though
CHASE FREEDOM | AMEX BCE | | BOFA REWARDS | CITI TYP | Quicksilver | DISCOVER IT | Sallie Mae | CHASE CSP
--------$32,000-------------$30,000-----------$30,000-----------$30,000-----$13,000---------$18,200----------$15,000---------$6,500----

FICO - TU: 780 EX: 784 EQ: 781
Message 3 of 47
RyVision
Valued Contributor

Re: Adverse Action from a credit card spree ??


@youngman1234 wrote:

Which lenders could potentially resort to AA after a credit card spree ??? 

 

I am looking to apply for the following:

 

1. Penfed LOC & CLI ( 1 Pull)

2. BOA CLI ( 1 PULL)

3. DISCOVER CLI ( 1 PULL) 

4. CHASE SAPP (1 PULL)

5. CHASE Ink Plus

6. Citi Presitge (1 pull)

7. DCU Visa (1 pull) 

8. Alliant CLI (1Pull) 

9. Paypal credit Card 

10. Fidelity Amex 

11. Ameriprise Fincial elite 

 

I know its alot but tech its only 7 new accounts... I have closed over 8 in the past 10 months.... 


Those on your list:

 

1. PenFed,  just after a LOC and CLI,  open more than 3 accounts and they might AA you for pyramiding.

2. BOA isn't worth an HP for a CLI, they should be able to CLI you on a SP if you've been with them long enough.

3. Discover is very good about telling you if they need to do a HP for a CLI, you can ask them for what they'll do for you with just a SP. Try that route to avoid the HP.

4 & 5. Chase, don't be surprised if Chase pulls twice or more than one CB for a CLI.  Speak to a CA, not just a front line CSR about what they can do on a SP or refrain from the CLI request. I noticed you may have meant applying for both, not a CLI on one, I've heard sometimes lately they've pulled 2 or 3 CB reports for a new account.

5. Citi, from what I've read, is rather unpredictable. May not be worth it.

7 & 8. No idea.

9. With the cards you already have and what you're aiming for, PayPal is not worth the new account and HP to get it.

10 & 11.  Both are upper tier cards and neither like to see new accounts or a lot of HPs (think PenFed).

 

I'd say your best option might be to go for only 2 new accounts.  Of your choices I'd consider Chase and AMEX to be the best of the possible new accounts.  You can always go for another after 7 months or so.  Space them out and you'll have much better results.


AKA 840flippedto480
Message 4 of 47
longtimelurker
Epic Contributor

Re: Adverse Action from a credit card spree ??

The Citi Prestige is also very upper tier in AF at least.  I would apply for this early on in the spree, as you don't want to get a small CL on a card with a $400 AF.

Message 5 of 47
azguy13
Senior Contributor

Re: Adverse Action from a credit card spree ??


@youngman1234 wrote:

Which lenders could potentially resort to AA after a credit card spree ??? 

 

I am looking to apply for the following:

 

1. Penfed LOC & CLI ( 1 Pull)

2. BOA CLI ( 1 PULL)

3. DISCOVER CLI ( 1 PULL) 

4. CHASE SAPP (1 PULL)

5. CHASE Ink Plus

6. Citi Presitge (1 pull)

7. DCU Visa (1 pull) 

8. Alliant CLI (1Pull) 

9. Paypal credit Card 

10. Fidelity Amex 

11. Ameriprise Fincial elite 

 

I know its alot but tech its only 7 new accounts... I have closed over 8 in the past 10 months.... 


I would imagine that Barclays and Amex for sure would AA. That is a crazy amount of apps for a spree. IMHO, way too much. If I were a creditor and saw THAT many new HPs and possibly new accounts, I would AA you quicker than it takes to type this response. 

Message 6 of 47
SnackTrader
Valued Contributor

Re: Adverse Action from a credit card spree ??

Just be ready for a large amount of spending to get the sign-up bonuses. You don't want to go into debt just for rewards points.

In My Wallet: Amex BCP (12/12) $50,000, Chase Freedom (12/12) $16,500, Cap1 Quicksilver (6/12) $14,000, Barclaycard Rewards (5/13) $10,500, Citi Prestige (4/16) $30,000

Last App: June 27, 2015
Message 7 of 47
Luscher
Valued Contributor

Re: Adverse Action from a credit card spree ??

fyi chase pulled my ex, and tu for an app so they will prob. pull both for you
CHASE FREEDOM | AMEX BCE | | BOFA REWARDS | CITI TYP | Quicksilver | DISCOVER IT | Sallie Mae | CHASE CSP
--------$32,000-------------$30,000-----------$30,000-----------$30,000-----$13,000---------$18,200----------$15,000---------$6,500----

FICO - TU: 780 EX: 784 EQ: 781
Message 8 of 47
azguy13
Senior Contributor

Re: Adverse Action from a credit card spree ??


@Luscher wrote:
fyi chase pulled my ex, and tu for an app so they will prob. pull both for you

Chase has only ever pulled EX for me

Message 9 of 47
hot4u
Established Contributor

Re: Adverse Action from a credit card spree ??

DCU is two hard pulls. One for membership.. was worth the pulls...


@RyVision wrote:

@youngman1234 wrote:

Which lenders could potentially resort to AA after a credit card spree ??? 

 

I am looking to apply for the following:

 

1. Penfed LOC & CLI ( 1 Pull)

2. BOA CLI ( 1 PULL)

3. DISCOVER CLI ( 1 PULL) 

4. CHASE SAPP (1 PULL)

5. CHASE Ink Plus

6. Citi Presitge (1 pull)

7. DCU Visa (1 pull) 

8. Alliant CLI (1Pull) 

9. Paypal credit Card 

10. Fidelity Amex 

11. Ameriprise Fincial elite 

 

I know its alot but tech its only 7 new accounts... I have closed over 8 in the past 10 months.... 


Those on your list:

 

1. PenFed,  just after a LOC and CLI,  open more than 3 accounts and they might AA you for pyramiding.

2. BOA isn't worth an HP for a CLI, they should be able to CLI you on a SP if you've been with them long enough.

3. Discover is very good about telling you if they need to do a HP for a CLI, you can ask them for what they'll do for you with just a SP. Try that route to avoid the HP.

4 & 5. Chase, don't be surprised if Chase pulls twice or more than one CB for a CLI.  Speak to a CA, not just a front line CSR about what they can do on a SP or refrain from the CLI request. I noticed you may have meant applying for both, not a CLI on one, I've heard sometimes lately they've pulled 2 or 3 CB reports for a new account.

5. Citi, from what I've read, is rather unpredictable. May not be worth it.

7 & 8. No idea.

9. With the cards you already have and what you're aiming for, PayPal is not worth the new account and HP to get it.

10 & 11.  Both are upper tier cards and neither like to see new accounts or a lot of HPs (think PenFed).

 

I'd say your best option might be to go for only 2 new accounts.  Of your choices I'd consider Chase and AMEX to be the best of the possible new accounts.  You can always go for another after 7 months or so.  Space them out and you'll have much better results.


 


(Chase)- Freedom, CSP®, United MileagePlus® Explorer, Marriott Rewards® Premier, Penfed cash+ rewards/Promise/Defender.
Amex’s- BCE, Hilton, SPG®, PRG® and Blue®, NFCU Cash Rewards, FHB Destinations World Elite.
- Amex Centurion,(Citi) Executive/Platinum® Advantage


Alaska Airlines
Message 10 of 47
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