Still reacting to AOD denial

[Anonymous]

It's been over 1 year since my application for the AOD 3% CC was denied, but my CC APPs are still being influenced by the denial.  Is this common that one denial can continue to affect one's CC APPs even 1 year later?

Since being denied, I applied and was approved for two CCs and I'm about to apply for a third CC, the Discover it Miles for the 1st year cash back match.  All three would have been completely unnecesary if I was approved for the AOD.

The AOD would have been perfect as a general spend card because not only would it have covered spends outside the 5% categories but it also would have netted a bonus on several bills that I normally wouldn't pay with CC because the fee is greater than the cash back (e.g. tuition 2.25%, property taxes 2.75%, sewer 2.5%). 

In hindsight, I probably should have gone into the garden for awhile and then re-APP'd for the AOD.  Hindsight is 20/20 though.  Who knew the AOD card would still be going strong over 1 year later?

I thought about submitting a new APP for the AOD, but I don't think I want to accept the risk of denial or nerfing.  At least with Discover, I know I'll be getting the 3% for 1 year.

[Brian_Earl_Spilner]

It's only affecting your new apps because you're making it affect them. Most people move on or they sit and garden if it's a card they really want. Early in my rebuild I was the former person, now I'm the latter.  Rather than try to maximize every penny now, I'd rather wait to get something that will work for the long term at terms I want.

[Anonymous]

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@Brian_Earl_Spilner wrote:

It's only affecting your new apps because you're making it affect them. Most people move on or they sit and garden if it's a card they really want. Early in my rebuild I was the former person, now I'm the latter.  Rather than try to maximize every penny now, I'd rather wait to get something that will work for the long term at terms I want.

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Thank you for offering your point of view.  I will definitely give it more thought before applying for the Discover.  I've done some back of the envelope calculations, and the year at 3% is probably an extra $500.  I need to figure out whether that's worth it to me. 

[Brian_Earl_Spilner]

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@Anonymous wrote:

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@Brian_Earl_Spilner wrote:

It's only affecting your new apps because you're making it affect them. Most people move on or they sit and garden if it's a card they really want. Early in my rebuild I was the former person, now I'm the latter.  Rather than try to maximize every penny now, I'd rather wait to get something that will work for the long term at terms I want.

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Thank you for offering your point of view.  I will definitely give it more thought before applying for the Discover.  I've done some back of the envelope calculations, and the year at 3% is probably an extra $500.  I need to figure out whether that's worth it to me. 

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That's a significant amount for most. In my case, I wouldn't have enough spend to justify it. 

[AverageJoesCredit]

Some people react differently.  You arent only one on this card. I myself tried once and failed due to my laughable income but i moved on as a 1% more card and statenent credit only wasnt going to rock my world any way 🙃 

[Anonymous]

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@Brian_Earl_Spilner wrote:

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@Anonymous wrote:

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@Brian_Earl_Spilner wrote:

It's only affecting your new apps because you're making it affect them. Most people move on or they sit and garden if it's a card they really want. Early in my rebuild I was the former person, now I'm the latter.  Rather than try to maximize every penny now, I'd rather wait to get something that will work for the long term at terms I want.

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Thank you for offering your point of view.  I will definitely give it more thought before applying for the Discover.  I've done some back of the envelope calculations, and the year at 3% is probably an extra $500.  I need to figure out whether that's worth it to me. 

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That's a significant amount for most. In my case, I wouldn't have enough spend to justify it. 

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Tuition and college-related expenses for my children are the main reason why my spend is so high.  I have a few more years to go until my expenses settle down to more reasonable levels.

[HeavenOhio]

I'd probably apply for Discover at this point or at a time when enough time has elapsed since your last new card. Check their prequals to see what they have to say. After that, I'd garden for at least a year and maybe try AOD at that point.

[ChargedUp]

If those student loans you speak of are showing on your reports, this has been a known issue with how AOD calculates debt to income and has resulted in some unusual denials.

Come garden with us for a year and let your current accounts grow and make your file thicker. I'm going to to be there likely into the beginning of 2022 as I'm waiting to dip my toe into the waters at USBank and/or Elan. I get it that it's tough to wait things out, but in the end your approvals should have better rates and higher SL's than if you try with a bunch of new accounts stacked on your reports.

[JNA1]

Maybe you should get the Discover Miles card and get 3% for a year. During that time, garden for the whole year and maybe you can get the AOD card in a year assuming it's still going strong. 

Even though I have the AOD card, I'm mindful that it could disappear one day, and I've continued use my cards that have 3% categories just in case. We're currently using both BBVA ClearPoints cards, the Synovus card, and the NFCU More Rewards card on certain 3% categories this month. Next month I'll probably swap it up and do something else. It would definitely be easier just to use the AOD card, but using the others keeps them active and keeps CLIs coming. 

[Anonymous]

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@JNA1 wrote:

Maybe you should get the Discover Miles card and get 3% for a year. During that time, garden for the whole year and maybe you can get the AOD card in a year assuming it's still going strong. 

Even though I have the AOD card, I'm mindful that it could disappear one day, and I've continued use my cards that have 3% categories just in case. We're currently using both BBVA ClearPoints cards, the Synovus card, and the NFCU More Rewards card on certain 3% categories this month. Next month I'll probably swap it up and do something else. It would definitely be easier just to use the AOD card, but using the others keeps them active and keeps CLIs coming. 

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I'm gonna go for the Discover Miles next month.  I pre-qualified for it.  I'll take another run at AOD in a year if it's still around like you suggested.

Thank you to everyone for your input and suggestions.