Appliers Remorse

[BluePoodle]

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@CallaLilyLover wrote:

I know I cant be the only one thats ever felt this way. Started my credit building journey and got all excited about my first two credit cards. Especially the Freedom woohoo! Then decided to apply for VS and PayPal Connect. Regret both. I havent used the VS card once and I end up using Freedom for the majority of my Ebay purchases since there's an actual benefit to its use. No benefit with the PayPal card at all. Then applied for the Citi ThankYou Preferred (student version) since the requirements seem to be lower for student cards with most companies. Called to check the status and was told they sent a letter for utility bill and ID. Decided yes I want the card but no I dont want the student version bc the sign up bonus is like 20k points less and the starting limit would almost certainly be lower than the regular version. Initiated a chat online and politely requested they cancel the application since it was still in pending status. Representative was pretty awesome, not only did she cancel the application they removed the HP from my EX report. Definitely will apply with them in the future.

So here I am with four cards and I honestly only like 1 out of the 4 Three of these are going to be cancelled or thrown in the sock drawer at the 6 month mark! I dont want to end up with a list of toy limit cards that I dont particularly need just bc I caught the approval bug and went app crazy  Maybe its just me but I'm glad I came to this realization early.

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To add to what others have stated, do not disregard the Cap1 Card. Is it a student card or a fresh steps card?  My first card was $500 platinum that went to $750 by the time I got the card in the mail (they upped my limit for some reason) then within 6 months I got a cli of $3k. I PC'd the card around 8 months to the QS card and eventually got another CLI to my final CL today. Plus they PC'd the card from a MC to a World MC. So use the card as much as possible and you will see growth. 

Also, keep in mind that CLI requests do not require a HP but they do with Chase.

Your on the right track!

[BluePoodle]

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@heyitsyeh wrote:

I currently have Applier's Remorse for the Barclaycard Arrival, only because they switched to World Elite a month after I received the standard World card. Although this was completely out of my control, and they are working on upgrading everyone to World Elite eventually.

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Why is World Elite a negative?

[Anonymous]

Noted Blue! I think heyitsyeh is saying that they would have preferred simply applying for the World Elite version if they had known about the upcoming change rather than choosing Arrival? I think....

[maiden_girl]

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@BluePoodle wrote:

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@heyitsyeh wrote:

I currently have Applier's Remorse for the Barclaycard Arrival, only because they switched to World Elite a month after I received the standard World card. Although this was completely out of my control, and they are working on upgrading everyone to World Elite eventually.

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Why is World Elite a negative?

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It isn't. heyitsyeh is saying that they wish they had known Barclaycard was going to be a World Elite otherwise they would have waited to apply

[maiden_girl]

OP, don't worry about your credit profile so much now. Everyone has to start somewhere. Not saying go on a app spree or close the cards you were able to get. Credit isn't a race. It takes time to build it up to where it should be. Just be careful and mindful of your decisions

[shane82388]

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@p- wrote:

Hang in there; the Freedom will grow with you, and the spend categories make it a pretty good cashback card.  Capital One will grow as well.  Both have been my highest limit as my credit improved.  If you use the other two once a year or so, and don't pay an annual fee, they can only help you.

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Man, wish my Freedom would grow with me...started at $500 and am only up to $1200 in about 3 years...in that time ive got a CLI on pretty much every other card and approvals for up to $7500...not seeing Chase as a grower really...sadly.

[navajomyst2003]

I have  applier's remorse for Amex Blue Sky.  May PC to BCE in Nov at 13 month mark.

[Closingracer99]

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@navajomyst2003 wrote:

I have  applier's remorse for Amex Blue Sky.  May PC to BCE in Nov at 13 month mark.

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you know you don't have to wait 13 months with Amex right? I actaulyl chatted with Amex about if I can PC my BCE which I got in November about a week ago and they said yes to the Blue sky card. I said no thanks but was way before a year 

[SunriseEarth]

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@CallaLilyLover wrote:

I know I cant be the only one thats ever felt this way. Started my credit building journey and got all excited about my first two credit cards. Especially the Freedom woohoo! Then decided to apply for VS and PayPal Connect. Regret both. I havent used the VS card once and I end up using Freedom for the majority of my Ebay purchases since there's an actual benefit to its use. No benefit with the PayPal card at all. Then applied for the Citi ThankYou Preferred (student version) since the requirements seem to be lower for student cards with most companies. Called to check the status and was told they sent a letter for utility bill and ID. Decided yes I want the card but no I dont want the student version bc the sign up bonus is like 20k points less and the starting limit would almost certainly be lower than the regular version. Initiated a chat online and politely requested they cancel the application since it was still in pending status. Representative was pretty awesome, not only did she cancel the application they removed the HP from my EX report. Definitely will apply with them in the future.

So here I am with four cards and I honestly only like 1 out of the 4 Three of these are going to be cancelled or thrown in the sock drawer at the 6 month mark! I dont want to end up with a list of toy limit cards that I dont particularly need just bc I caught the approval bug and went app crazy  Maybe its just me but I'm glad I came to this realization early.

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To some degree, I also regret my VS.   I basicaly took it because it was offered.   It's my lowest CL at $550 and I only use it at BBW.   I'll likely close it at the two year mark

[chalupaman]

I have appliers remorse for basically opening the Target and Old Navy cards in the first place but thankfully I've closed both of those and got way better cards anyway and kept the store cards that have actually grown in their CLs which for me have been all GE stuff. Fingerhut not as much though they were only useful for me for a couple of months until I realized how overpriced their stuff was and how I was only really buying socks from that place just to keep it active so that one ended up being closed too. I will give them credit for giving my first ever auto CLI though.

Also me even bothering with Chase in the first place, especially without over a year's worth of credit history and plenty of inquiries and newly opened accounts. That's about it. Other than that, I'm pretty happy with how far I've come on my credit journey and being able to learn from my mistakes along the way and knowing that the majority of the cards I have now are useful for me in different ways. I also have a very good idea of which lenders really want my business the most so I'm just gonna stick to those and let my relationships with them grow as well.