Why CC and CLI sprees?

[Anonymous]

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@FlaDude wrote:

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@Anonymous wrote:
ah okay, that makes sense from that point of view. For sure not a thing that everyone could or want to do.

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And if you are into signup bonuses, spreading them out to meet the spend requirements might preclude spreeing.

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Quite right.  And furthermore, it's common that, if you are interested in cards X, Y, and Z, at a given point in time cards Y and Z are not offering the best signup bonuses, but they might if you waited a while longer.  Thus during any particular month, there is often at best only one card you like that is offering a historically high bonus and hence it makes sense it only apply for one right then.

Remember if you apply for one card every six months (on average) that's still ten cards in five years, which is a lot.

[HeavenOhio]

Over in the Credit Cards forum, sprees are rarely recommended. When we do give the collective OK, it's generally after a substantial period of gardening, with another period of gardening after the applications.

It seems that inquiries are coming into the equation more and more. A member recently had about five Comenity cards CLD'ed from 4-digits to the $200 range. Her history was to use the cards almost every month and to always pay in full.

The reason given for the CLDs was five inquiries in the past thirty days. And get this. The inquiries were all for an auto loan. Of course, everyone gave her the requisite "interrogation." Utilization was great, and there were no baddies. Her non-Comenity cards had 5-digit limits. The inquiries were the only thing "wrong" with her report.

[MakingProgress]

Both last year and this year I did what I like to think of as a targeted minispree.

 Discover, Amex BCE, Chase Amazon, and Citi DC all app/approved on 2/10/18

U S Bank Cash+, Barclay's Uber Visa, FNBO Ducks Unlimited all app/approved on 2/11/19

If you are going to do it pick the cards you want and research them in case some are especially inquirey or new accoun sensitive then app and stop after you have apped for those cards.   Don't just app and app and app for cards you don't want or need. 

[Anonymous]

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@HeavenOhio wrote:

The reason given for the CLDs was five inquiries in the past thirty days. And get this. The inquiries were all for an auto loan. Of course, everyone gave her the requisite "interrogation." Utilization was great, and there were no baddies. Her non-Comenity cards had 5-digit limits. The inquiries were the only thing "wrong" with her report.

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Did she attempt to recon the CLDs?  No doubt it was a computer program that flagged the inquiries as troublesome, as any human being would know that auto inquiries lumped together even if it's 10-20 of them are only going to end in 1 request for credit. 

This would essentially mean that anyone that goes for an auto loan would then cause CLDs on their Comenity cards.  I wouldn't see that flying for very long.

[Anonymous]

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@MakingProgress wrote:

Both last year and this year I did what I like to think of as a targeted minispree.

 Discover, Amex BCE, Chase Amazon, and Citi DC all app/approved on 2/10/18

U S Bank Cash+, Barclay's Uber Visa, FNBO Ducks Unlimited all app/approved on 2/11/19

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Have you added any accounts since that spree last year around this time?  If not, your AoYA would have hit 12 months back on 2/1/19 and I'm just curious if you saw a nice gain to your FICO scores?

[Gmood1]

What Ohioheaven failed to mention, was that person apped for 3 cards all from Comenity at once. That's why they were all closed. The inqs alone had little to do with it.
If those were from 3 different lenders. Chances are the poster would likely still have all three accounts.

[HeavenOhio]

@Gmood1, I think we're thinking of different threads. This is the one I was referring to:

Strange Comenity Bank CLD!!!

[MakingProgress]

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@Anonymous wrote:

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@MakingProgress wrote:

Both last year and this year I did what I like to think of as a targeted minispree.

 Discover, Amex BCE, Chase Amazon, and Citi DC all app/approved on 2/10/18

U S Bank Cash+, Barclay's Uber Visa, FNBO Ducks Unlimited all app/approved on 2/11/19

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Have you added any accounts since that spree last year around this time?  If not, your AoYA would have hit 12 months back on 2/1/19 and I'm just curious if you saw a nice gain to your FICO scores?

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Just a few days before 2/19  I had a Parent Plus Student Loan hit my reports.   I am really confused by that account.   It is a new loan in deferment showing it was opened in Jan 2019 and it's current staus is closed.   I only gained a 1 - 4 gain on each of the Fico 8s, but I hadn't seen any movement in my scores for several months prior. 

[Anonymous]

Hello MakingP!  You have an interesting problem (specifically that you have an open loan reporting as closed).  I encourage you to open a discussion on another thread (if you have not done so) to get help with that.