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Addicted to apping =(

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AvadaKedavra
Established Contributor

Re: Addicted to apping =(

I know the feeling.

 

I've just recently decided to stop apping for 6 months. Luckily I've made great strides and reached some goals. I have some CLIs to look forward to. It's hard to resist the temptation but we can do it. WE MUST STAY STRONG! Smiley Tongue

Message 11 of 19
Turbobuick
Established Contributor

Re: Addicted to apping =(

Before I came to this site 3 months ago, I didn't spend an hour a month thinking about my credit. My credit has always been excellent, but I would not apply for a card for months maybe years at a time unless there was a good reason. With the advent of all the cash rewards, my old cards are pretty much junk and I find myself much more conscious of my credit and how to both improve my score and my rewards.

 

If you're an alcoholic, you're advised to stay out of saloons. If you're a creditholic, I would advise the best way to "stay in the garden" is to avoid this site and reading about all the temptations. Out of sight, out of mind.

Message 12 of 19
UltimatE157
Member

Re: Addicted to apping =(

Being addicted to applying is probably the worst thing you can actively do to your credit aside from the normal negatives. (Late payments, defaults, etc, etc.).  Too many apps as well as a very low AAoA from accepted apps will do more damage than the couple hundred dollar credit limits can ever help your score.  If you do get a card with $500 and allow it to report a $300 balance, you are using 3/5 of the credit limit on that card.  But if you got approvied for a card with a $2000 limit and reported $300, you'd only be using 3/20 of the limit.

 

As stated above, its much, much better to spread out your applications to achieve higher starting credit limits and then farm those than it is to constantly apply and get a few hundred here, few hundred there.  Waiting the 6 months or a year to apply will be powers-of-ten better.

Starting Score: 680 Experian (11/2012)
Current Score: 762 Experian 04/15, 781 Equifax 04/15, 791 Transunion 04/15
Goal Score: 800 Reporting on all three

Message 13 of 19
Anonymous
Not applicable

Re: Addicted to apping =(


@Turbobuick wrote:

 

If you're an alcoholic, you're advised to stay out of saloons. If you're a creditholic, I would advise the best way to "stay in the garden" is to avoid this site and reading about all the temptations. Out of sight, out of mind.


Ha. This. Although I think being addicted to apping is more analogous to gambling than anything else. There's definitely an adrenaline rush when you click that submit button.

 

Ironically, at least for me, that adrenaline rush only gets magnified the less "chance" I have to actually get approved. Maybe it's due tp the satisfaction in proving conventional wisdom wrong (eg, you need a certain score or low number of inqs to get approved) or maybe I'm just addicted to the general euphoria one gets when we attain the unattainable. ha.

 

Message 14 of 19
Anonymous
Not applicable

Re: Addicted to apping =(

Keep apping, and never stop!

Message 15 of 19
jsucool76
Super Contributor

Re: Addicted to apping =(


@Turbobuick wrote:

Before I came to this site 3 months ago, I didn't spend an hour a month thinking about my credit. My credit has always been excellent, but I would not apply for a card for months maybe years at a time unless there was a good reason. With the advent of all the cash rewards, my old cards are pretty much junk and I find myself much more conscious of my credit and how to both improve my score and my rewards.

 

If you're an alcoholic, you're advised to stay out of saloons. If you're a creditholic, I would advise the best way to "stay in the garden" is to avoid this site and reading about all the temptations. Out of sight, out of mind.


This. I stayed off myfico for over a year, was the only way I was able to keep myself out of trouble. All of those approval threads, they're killer. Thankfully the approval board is seperate now, but I still venture in there sometimes. haha. It is dangerous. 

Message 16 of 19
Anonymous
Not applicable

Re: Addicted to apping =(


@Turbobuick wrote:

Before I came to this site 3 months ago, I didn't spend an hour a month thinking about my credit. My credit has always been excellent, but I would not apply for a card for months maybe years at a time unless there was a good reason. With the advent of all the cash rewards, my old cards are pretty much junk and I find myself much more conscious of my credit and how to both improve my score and my rewards.

 

If you're an alcoholic, you're advised to stay out of saloons. If you're a creditholic, I would advise the best way to "stay in the garden" is to avoid this site and reading about all the temptations. Out of sight, out of mind.


So true, totally concur. I am so tempted reading about Citi DC. If your will is faltering reading those thread the best way is what Turbobuick suggests.

 

Remeber...

 

"With great power comes great responsibility"

 

Smiley Happy

Message 17 of 19
ddemari
Super Contributor

Re: Addicted to apping =(

I am addicted to apping too. I think one of the only ways I can help myself to stop is if I stop reading and looking around in the forums lol. I will totally agree with what people here have said, if you go on an app spree the best is to do it all at once and space it every 6 months. In March I was approved for Barclay apple card with a toy limit of 700 and gap store card with even small limit of 200. From March to August I kept my utilization at 1-3%, cleaned up my reports a little bit, TransUnion is extremely forgiving.

 

I apped for Freedom in August-3k instant approval, Amex Green- Instant approval, SallieMae MC- Instant approval 3,500k.

 

Then of course I cant help myself but see a prequalified QS Visa for excellent offer a few days ago, I apped took the 3 pulls and instant approval for 3k. Now if I can restrain myself for 1 year, I can app for the card I want the most Discover and probably get at least a 5-8k limit. 

 

Its just the rush of the app that takes control of me. I need to get some self control, realize that I have zero credit card debt and about 30k in open credit and be happy with what I got. Easier said than done Smiley Sad 

Message 18 of 19
Imperfectfuture
Super Contributor

Re: Addicted to apping =(


@ddemari wrote:

I am addicted to apping too. I think one of the only ways I can help myself to stop is if I stop reading and looking around in the forums lol. I will totally agree with what people here have said, if you go on an app spree the best is to do it all at once and space it every 6 months. In March I was approved for Barclay apple card with a toy limit of 700 and gap store card with even small limit of 200. From March to August I kept my utilization at 1-3%, cleaned up my reports a little bit, TransUnion is extremely forgiving.

 

I apped for Freedom in August-3k instant approval, Amex Green- Instant approval, SallieMae MC- Instant approval 3,500k.

 

Then of course I cant help myself but see a prequalified QS Visa for excellent offer a few days ago, I apped took the 3 pulls and instant approval for 3k. Now if I can restrain myself for 1 year, I can app for the card I want the most Discover and probably get at least a 5-8k limit. 

 

Its just the rush of the app that takes control of me. I need to get some self control, realize that I have zero credit card debt and about 30k in open credit and be happy with what I got. Easier said than done Smiley Sad 


Your post gives me ideas.  Yes, I'm gardening, but I waited the 7 years to get to where I could start (officially up Jan 2015).

 

Don't know if I want an Amex, but your other cards are on my wishlist.

 

Practicing self control now, but I am able to read the threads without that urge to app (this could change once scores hit the mid 700s).

 

One thing, if you garden for over a year, that will develop great control skills.  And if by app time for that desired card, the rewards have been replaced by TNBT, then you are better off to app for the new adventure on the block.

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Message 19 of 19
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