@Anonymous wrote:
@FinStar wrote:
@jaraico wrote:inquiries is the easiest thing to recon. just play dumb lol i had 22 inquiries when i got chase southwest amd 13 when i got csp. and most of my histpry was an authorized uset but i do believe every profile is diffetent. but waiting is so overrated.
Not necessarily - it varies by lender. As you pointed out, everyone's credit experience and results will vary. Just because you decided to "play dumb" does not necessarily translate into other individuals embarking on 22+ inquiries to increase their chance for approval - for any product.
While annecdotally some have achieved success with your stated scenario (albeit using the reconsideration channel vs. qualifying for automatic approval) or not having a good handle on basic credit habits to achieve said goals (e.g. excessive inquiries, etc.); others prefer the opportunity to learn the best approach and position themselves for approval while minimizing any collateral damage to their credit files.
+1
also to add.........getting approved is one thing.
but getting approved for the lowest APR rates is another. Usually borderline approvals land you up with the highest and most ridiculous APR rates, so it's essentially forcing you to not leave a balance. Kinda defeats the purpose of having a credit card somewhat.
I haven't read the entire thread yet; however, APR is a poor measurement of quality of card.
In the OP's case, he's not carrying balances anyway, APR = whatever.
In the general case, go pickup a rainy day credit card at a low APR (10% or less, which is roughly half of what a common rewards APR is), do whatever it takes to get the CL up to a usable floating balance level, and save that for emergencies and go out and get the best rewards cards for your spending profile and ignore APR on all of them.
