Freedom instant approval- What should I apply for now?

[Anonymous]

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@Anonymous wrote:

I see your point that AA is uncommon for most people. With 11 and 13 cards, we're not so far from normal. AA certainly seems more common among people with 30+ cards.

Maybe we need some guinea pigs fellow community members to test our suppositions.

Any victims volunteers?

I'd also point out two other advantages of staggering apps:

1. You can act on unexpected opportunities. If you want a card but don't like the usual bonus, you can act quickly to get a targeted or limited-time bonus. *ETA: Some seasonal bonuses are semi-predictable, but certainly not all bonuses are, and none are certain until actually available.*

2. Minimum spend. If you have to spend a lot in 3 months, then depending on the particulars there may be a risk of:

a. Overspending

b. Manufactured spend, which raises AA risk and/or has prepaid card fraud risk

c. Inefficient category spending. (I wouldn't want to use my Hyatt for groceries.)

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Interesting point about the sign up bonuses. I also forgot to mention one additional advantage of sprees, though. If you happen to strategize your sprees in such a way that you are spreading out your inquiries among each of the bureaus, lenders #2 and #3 need not know you applied for a card just a few days ago. Imagine a perfect spree that includes an Amex (EX pull), Discover (usually EQ pull), and Barclays (TU). You'd be approved for all three cards without the other lenders necessarily knowing you even applied for the others!! Of course, a surprise double pull throws a (small) wrench in the plan, but it's still overall a sound strategy.

I don't think you need to ask for volunteers. There are plenty of unwitting guinea pigs on the forums already. Just check the approvals forum.

[kdm31091]

At the end of the day, it's preference and whether one chooses to spree or not, they are the only one who has to live with the good and the bad consequences. I personally prefer not to risk AA or look credit hungry by going on sprees. Lenders do not love seeing a lot of credit seeking. Yes, a thick file overcomes that somewhat, but credit seeking is still credit seeking.

I think the bigger issue is apping just to app. Making a thread asking for posters to basically convince you on which card you need is IMO working backwards. If theres no need for a card right now, then thats fine! Grow what you have and just live life.

[bodyboy1]

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@Anonymous wrote:

Thanks. Which cards are most likely to give a SL of 5k?

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>  Listen...  don't second guess yourself <.  go to Capital one.  do the Pre-Qualifer again!  <. if a Venture comes up..  just apply for it!>  after that   just chill for 9 months & we'll do somehing else.   you wil be awesome!

[bodyboy1]

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@bodyboy1 wrote:

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@Anonymous wrote:

Thanks. Which cards are most likely to give a SL of 5k?

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>  Listen...  don't second guess yourself <.  go to Capital one.  do the Pre-Qualifer again!  <. if a Venture comes up..  just apply for it!>  after that   just chill for 9 months & we'll do somehing else.   you wil be awesome!

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 > do not Worry about spend & bonus!   do not app for amex or chase or citi or us now!    go pre qualify & get the Venture..  just get it use & pay..    after 6 months app for the Amex  then wait another 9-12 months Chase.   get your Venture now..   stop listening & waiting.  you will get approved (Now!)

[takeshi74]

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@Anonymous wrote:

I really want one more before I go to the garden for a year. 

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Why?  What are you specifically looking for from the additional card aside from higher limit?  What your credit and income qualify for will determine the limit and we really can't tell you what you would stand to receive from any creditor.  We need more useful criteria to help narrow down the options.

What's lacking with your current set of cards?  Or is this just an arbitrary number that you're trying to reach?  It sounds to me like you're trying to put the cart before the horse and scrambling for a justification for new card.  If you use your needs/wants to determine cards that fit you you'll have your answer or at least a narrowed down set of options that fit your criteria.

[kdm31091]

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@takeshi74 wrote:

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@Anonymous wrote:

I really want one more before I go to the garden for a year. 

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Why?  What are you specifically looking for from the additional card aside from higher limit?  What your credit and income qualify for will determine the limit and we really can't tell you what you would stand to receive from any creditor.  We need more useful criteria to help narrow down the options.

What's lacking with your current set of cards?  Or is this just an arbitrary number that you're trying to reach?  It sounds to me like you're trying to put the cart before the horse and scrambling for a justification for new card.  If you use your needs/wants to determine cards that fit you you'll have your answer or at least a narrowed down set of options that fit your criteria.

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+1 I see it a lot on here and it just puzzles me. "I just want one more card before x date!" etc. Why? There's no law that says you have to have x amount of cards and we all know credit cards are certainly not going anywhere. If there's nothing out there that you really need right now, then it is what it is, and you wait.

[Anonymous]

Applied for Chase Freedom October of last year.  Approved for $2000.  Applied for Discover IT November of this year, approved $1400 (and a very good shot at that going up before the next year).  At this rate I'm applying for one card a year, may go for two this time next year, CSP and Amex EDP, at which point I'll be done. I'm not the kind that thinks I need a particular card (or a particular anything) right this very minute.  I apply for what I want, when I'm ready, and don't even get Pre-quals in the mail or online (opted out).  That's the best strategy for me.  Someone else has every right to take an opposite strategy, just like I have every right to think it's wrong.