Planning a Mini app spree

[Anonymous]

If the main purpose of Venture is to pad your UTI, I would skip it, $95 AF and triple pull is not worth it IMO. At this stage of your game, you should be selectively apping for keeper cards carefully matched with your spending.

[NRB525]

Prequalified is nice to see.
It is not a good enough reason to app the cards

What objectives do you have, reasons for getting each card? You are free to ignore my questions.

You know the annual fees. Are you also planning to / are you able to meet the spend requirement for the SUB?

Maybe work on joining PenFed, get the card and LOC, then stop for a bit and think at that time about possible next steps?

[kdm31091]

I really don't recommend an app spree. Lenders are not taking kindly to this type of behavior lately, and that applies to all lenders. We have seen more AA occur with people who are too aggressive with apps. There is really no longer any advantage to a spree anyway (if there ever was one, but especially there is not now).

Choose the cards that really suit you and go from there. What do you want and need in a card that your current products don't offer? Is it something substantial, or are you apping just to app? Don't whimsically apply for cards you don't need (especially with annual fees). Just because you're prequalified doesn't mean you have to app or that the product is best for you.

[CreditInspired]

@gmood thanks for reiterating this.

It was driving me crazy micromanaging my accounts to maintain AZEO when there was really no need too.

Now life is relaxing 😁

[UpperNwGuy]

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@Gmood1 wrote:
Apply for your CC when you join Penfed. Forget about that AZEO non-sense. With your scores, it is unnecessary.
I've never used AZEO. You don't need it for CC apps if your scores are already excellent.
I would only use AZEO for a mortgage app. Other than that...waste of time.

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+1

I've never used AZEO either.  It's overrated.  If you build your scores over a reasonable period of time, AZEO is completely unnecessary.

[Anonymous]

Not only is it unnecessary, it simply doesn't make sense. We all agree and accept the logic behind All Zero 20 point penalty because in the eyes of lenders, your profile looks like someone who doesn't use credit at all, and yet somehow it's all different when you report $5 on one card out of $100k+ total CL? It just doesn't make common sense. IMO it's a scoring algorithm hack that can actually work against you whenever applications go into manual review, what incentives do lenders have to grant more or new credit to someone who uses tiny to no credit?

[HeavenOhio]

I think one of the reasons AZEO came up was because the OP mentioned bringing his balances to zero. 0% overall utilization is a 20-point ding that he wouldn't want to take — especially considering that his current 18% utilization is a great spot to be in. Anything under 28.9% should be fine for a credit card app, provided other pieces of the puzzle are in place, such as not having too many recently opened accounts.

I'd submit that AZEO is a good idea for most mortgage apps, though. Data points in the scoring forum indicate that mortgage scores can range up to 60 points less than one's FICO 8s, particularly when one's credit is fairly new. Also, with mortgage scores, deviating from AZEO will lower scores much more significantly than with FICO 8 or 9.

[Anonymous]

Do bureau provides a Fico 9 or still Fico 8 report?

[Anonymous]

If we finished talking about AZEO then could some one put some light on my topic...? 

[Anonymous]

what is your spending like?

If you don't travel alot, platinum is a very poor value card, Gold may do more for you than platinum.