App itch is killing me-scratching spreads it :(

[adavis425]

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@TeeandDee wrote:

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@bichonmom wrote:

I remember how good it felt to finally get approvals after so many years of not being able to get credit. One thing that stopped me was listening to the advice of people who had been on the forum longer than me. I didn't want a bunch of low-limit CCs. I wanted some really good, high CL cards. So, I waited. And it paid off big time.

So far, you're not seeing a drop in your FICO from your new CCs, but who knows if the next one will be the one that causes a nosedive. Seriously, I keep that in mind every time I app. I dropped 14 pts earlier this year when I upgraded from ON store card to Visa and really wished that I hadn't done it.

Another thing to keep in mind is the time and energy it takes to manage all of the CCs. Frankly, it's more work than I had anticipated. You pretty much need to make purchases on all of them so they don't get CLD or closed for inactivity (even if it's a monthly recurring bill). And then you have to remember all of the due dates and/or stmt dates. I'm constantly paranoid that I'm going to forget a date. At this point, I feel like I have enough CCs, or possibly even too many. And yet, I still feel the urge to app when I see the approvals others are getting here.

There have been times when I've been away from the forum for a few months -- partially because the urge to app is much greater when I'm on here and read about so and so getting such and such card, great CLIs, rewards, etc. It's intoxicating like a drug. I recently started posting again and frankly found the urge to app come back almost immediately. I hadn't had any urge (well, practically none) when I wasn't on here. As another poster suggested, you might want to take a break from the forum.

I think you're really better off letting your new CCs age for at least 6 mos before considering any new CCs. If you keep apping, at some point, you're either going to get denied or just start getting really low CLs, and your FICO will drop eventually. Then you'll be kicking yourself for not stopping sooner.

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I totally agree!!!! and this is EXCELLENT ADVICE!!!!!

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+1. TeeandDee that's awesome advice. You just get caught up and before you know it, you're apping for cards just for the high of being accepted. Very dangerous. I think you have to have a plan (for which cards you want/need) and be strong enough to read these boards while sticking to your plan. If not, you should stay away. Otherwise, come on in and soak up the knowledge!

[Duncanrr]

Reading the boards doesn't influence me at all. The gratification of an approval after so many denials is something else . The cards I applied for are cards I wanted (1 exception is amazon as I'd prefer freedom card but the amazon fit my rebuild better because if de coined visa I knew I would get store card). My plan is to app for NFCU early next month (when I'll become eligible). I'll then not app for 9 months and refi in June. After refi I'll add another Amex charge and Amex revolver as well as another Chase card or Discover card. I'm trying to balance adding Amex with non-Amex to keep my AAoA over 10 years. Then I'll garden till when I buy my second home.

[Lzzybeth]

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@Jazzzy wrote:

Don't undo the great work that you've done. Good credit is fine. GREAT credit takes patience.

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@adavis425 wrote:

I think you have to have a plan (for which cards you want/need) and be strong enough to read these boards while sticking to your plan. If not, you should stay away. Otherwise, come on in and soak up the knowledge!

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For me personally, these two pieces of wisdom are the best take aways from this thread.

THANK YOU!!

[ItchyAppFingers]

I also get the App-itch every now and then but after my winning streak starts to fade out with sudden denials I restrain myself from apping for a while, garden my cards, let the inquires wear-off and start making wise choices as to why I need another card? Have some Willpower