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So I went on a little app spree...

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Anonymous
Not applicable

So I went on a little app spree...

In sequence of application:

 

BestBuy $1,100

Target $1,000

Sears - DENIED

Old Navy Visa $1,000 (YAY!)

Walmart $150 (eh?)

JCPenney - DENIED

American Eagle Visa $750

Crate & Barrel $1,000

 

I'm pretty happy with the results. I'm a little surprised. I'm only 20 and my income is just under 10k a year. How I got more than half my annual income extended to me in a single day is beyond me. But the only one that I used is Target. Currently a balance of just $34.28. This time last year my Experian was 662. Now I'm at 709. All I did was pay off all my debt, and got two secured cards to gain trade lines and credit avail. Worked! 

 

Just one thing- I'm going to have 16 accounts showing on my CR and I'm only 20. I'm kind of worried at what some lenders (mortgage/auto) are going to think. Could this pose a problem? 

Message 1 of 12
11 REPLIES 11
MrShush
Valued Contributor

Re: So I went on a little app spree...

nice haul, but call it a day if you're planing a major purchase like a car or a home.
Message 2 of 12
anybodii
New Contributor

Re: So I went on a little app spree...

No, more accounts means more responsibility. The more accounts reporting timely payments looks good. If you had a balance it would look very bad. For the most part lenders seem to understand people wanting different credit cards for different times of rewards, or for establishing credit. If you were lending someone money for a car or a house, would you want them to have 2 accounts managed well, or 16? Credit cards are unsecured, so lenders know when you put up your house or car which bill you're going to pay first.

Message 3 of 12
Anonymous
Not applicable

Re: So I went on a little app spree...


@MrShush wrote:
nice haul, but call it a day if you're planing a major purchase like a car or a home.

Oh yeah, not gonna apply for new lines until next year (many inquiries will fall off).

 

I'm gonna rack up over $100 at Walmart because I'll get a $20 statement credit if I do Smiley Very Happy

Message 4 of 12
Creditaddict
Legendary Contributor

Re: So I went on a little app spree...


@Anonymous wrote:

In sequence of application:

 

BestBuy $1,100

Target $1,000

Sears - DENIED

Old Navy Visa $1,000 (YAY!)

Walmart $150 (eh?)

JCPenney - DENIED

American Eagle Visa $750

Crate & Barrel $1,000

 


GE Makes no sense sometimes... they give you 2 store Visa's but then completely deny at JCPenney and $150 at Walmart where you could probably spend the most money out of all of them... CRAZY Computers!!

I would call for recon on JCPenney, they use to be very easy with GE to get.

Crate and Barrel is great to get (WFFNB backs it) they are fantastic about Auto CLI and they back a lot of stores, they are like GE, onces they like you they will keep approving more cards... but I would wait and not do that right now!!

Message 5 of 12
Anonymous
Not applicable

Re: So I went on a little app spree...

Oh wow. My credit line on my Old Navy VISA has increased to $2,200! Awesome. Walmart (also issued by GEMB) is still at $150. Kinda strange.

Message 6 of 12
Anonymous
Not applicable

Re: So I went on a little app spree...


@Creditaddict wrote:

@Anonymous wrote:

In sequence of application:

 

BestBuy $1,100

Target $1,000

Sears - DENIED

Old Navy Visa $1,000 (YAY!)

Walmart $150 (eh?)

JCPenney - DENIED

American Eagle Visa $750

Crate & Barrel $1,000

 


GE Makes no sense sometimes... they give you 2 store Visa's but then completely deny at JCPenney and $150 at Walmart where you could probably spend the most money out of all of them... CRAZY Computers!!

I would call for recon on JCPenney, they use to be very easy with GE to get.

Crate and Barrel is great to get (WFFNB backs it) they are fantastic about Auto CLI and they back a lot of stores, they are like GE, onces they like you they will keep approving more cards... but I would wait and not do that right now!!


My thoughts exactly. After being approved for all those cards I was upset when the cashier printed out the receipt that said $150 limit. She kept on telling me it's "probably my age" and she didn't seem to understand that banks can't discriminate against age due to the Equal Opportunity Lender law...but she kept on insisting that I'm too young. 

 

I wanted JCPenney though =( - should I wait for the letter or should I call for a recon now?

 

 

Message 7 of 12
Creditaddict
Legendary Contributor

Re: So I went on a little app spree...

no she is right it probably is your age... they are not discriminating against you... you got approved... but they may want to step the banks toes into your pond a little slower until they know you are a responsible young person... besides it's almost always completely done by computers these days... who knows the formula that thing uses to decide CL.  Same bank, different stores and you end up with 2k difference in CL between Walmart and Old Navy... not sure how that makes since.

Message 8 of 12
kjm79
Valued Contributor

Re: So I went on a little app spree...

Cashier is partly right, it's your age, but more likley the short age of your credit history (based upon your physical age). 

 

May only be a $150 limit with Walmart BUT the silver lining is you get a FREE TU FICO score once a month.  That's a good deal.  Still some debate on which version it is, but it's free.  Smiley Very Happy


CH 7 Filed 7/27/15 Discharged 11/16/15
Starting Score: EQ 620 TU 568 EX 593
Current Score (07/13/16): EQ 674 TU 649 EX 674 (FICO's 08)
Cap1 QS ($5350) (Combined QS and QS1) Discover It ($4100) MilStar ($8,600) Fingerhut ($800)
Off to the garden 05/01/16
Message 9 of 12
Anonymous
Not applicable

Re: So I went on a little app spree...


@Creditaddict wrote:

@Anonymous wrote:

In sequence of application:

 

BestBuy $1,100

Target $1,000

Sears - DENIED

Old Navy Visa $1,000 (YAY!)

Walmart $150 (eh?)

JCPenney - DENIED

American Eagle Visa $750

Crate & Barrel $1,000

 


GE Makes no sense sometimes... they give you 2 store Visa's but then completely deny at JCPenney and $150 at Walmart where you could probably spend the most money out of all of them... CRAZY Computers!!

I would call for recon on JCPenney, they use to be very easy with GE to get.

Crate and Barrel is great to get (WFFNB backs it) they are fantastic about Auto CLI and they back a lot of stores, they are like GE, onces they like you they will keep approving more cards... but I would wait and not do that right now!!


A little update.  I decided to call in to see why my JCPenney (GEMB) card was declined. The CSR instantly told me that I actually was not declined, and that I need to speak with a separate department. So I spoke with them, and verified the public record info. I was approved for $250. Better than nothing I guess!

 

Got the letter from Sears (citi) today. Pulled my Equifax. Denied for too many inquiries. I called in and was told I'd get a call within 72 hours since all the supervisors were busy. Yeah right. 

 

I have 0% utilization!!! On all 3 reports I'm showing a just $51.00 balance with Target. GEMB was quick to report the new accounts. I'm at 721 EX (plus) now Smiley Happy I'm also showing $1000 CL from American Eagle Visa instead of the initial $750.

 

 

Does anyone know where they get the public record questions?? I just find it a little eery how they knew where I lived nine years ago as an 11 year old Smiley Indifferent

 

 

Message 10 of 12
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