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Addicted to apping =(

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keithB
Established Contributor

Addicted to apping =(

I screw around with the "pre-approval" links and "pre-qualification" links all the time.

 

I just recently got a "Congratuations" from Capital One for Platnium and Quicksilver.  The APRs suck 20.9-22.9% and I'll probably only get a small CL if I'm approved at all due to all my new accounts.

 

But some part of me wants to submit the app, even though I know it's not the smartest thing to do.  I guess I'm addicted to the thrill of being approved for more credit.  Anyone else here feel this way?  

Message 1 of 19
18 REPLIES 18
Anonymous
Not applicable

Re: Addicted to apping =(

No,  I wouldn't screw with my credit just to get approved for $200 CL. I just got approved for the QS and am debating on whether I should give it a shot and try for 1 more unsecured card... tough decision but I need more than 1 CC to help my score increase.

Message 2 of 19
Anonymous
Not applicable

Re: Addicted to apping =(

Not anymore. I was like that in the beginning and have since closed two cards I didnt need and getting rid of the last unwanted card next month. As someone with a small CL and crappy APR from Capital One, APR doesnt bother me much as I plan to always PIF, I will tell you that personally its simply not worth it. What worked for me was picking out a set number of specific cards with purposes that suit my spending habits plus focusing more on improving my credit overall rather than being so thrilled with seeing APPROVED Smiley Happy If its not on my list I have no desire for it. But everyone is different. Like any addiction discipline is required to keep it under control

Message 3 of 19
lhcole77
Valued Contributor

Re: Addicted to apping =(

There is a thrill… There is a rush. I've decided to stop applying for a while because I have realized that I have more than enough right now and I'm going to focus on managing it.

 

 Hang  in there. I know I have to…

Message 4 of 19
Slim1Der
Frequent Contributor

Re: Addicted to apping =(


@lhcole77 wrote:

There is a thrill… There is a rush. I've decided to stop applying for a while because I have realized that I have more than enough right now and I'm going to focus on managing it.

 

 Hang  in there. I know I have to…


This is EXACTLY how I feel. 

EX - 751 EQ - 732 TU - 752
Over $200k in revolving credit lines
10% Overall UTI
BK Discharge Jan 2009
Message 5 of 19
jamesdwi
Valued Contributor

Re: Addicted to apping =(


@keithB wrote:

I screw around with the "pre-approval" links and "pre-qualification" links all the time.

 

I just recently got a "Congratuations" from Capital One for Platnium and Quicksilver.  The APRs suck 20.9-22.9% and I'll probably only get a small CL if I'm approved at all due to all my new accounts.

 

But some part of me wants to submit the app, even though I know it's not the smartest thing to do.  I guess I'm addicted to the thrill of being approved for more credit.  Anyone else here feel this way?  


take a break for 6 months, I know its hard, but when you do you will see what you could of gotten if you spaced those APs over time. When I relize i could of gotten a 10k CLI instead of a $500 CL because I had to AP for just a couple more cards, waiting will also get you better APR, since I have started gardening in between new cards I get APR's in the 15% range which is a hell of a lot better than 29.99% or worse. 

 

 

Cards: Chase Southwest 20k & CSR 17k & CSP 10k & FNBO 30k Oregon Duck 5k, & AMEX BCP 32.5k & Amex Magnet 15k&amg; Hilton Surpass 7.5k & Delta Gold 12k & Zync NPSL, Fidelity AMEX 17k Commerce5.9k & Cash Forward 7.5k & Sams Club MC 20k, Paypal Extras MC 10k, Paypal Credit 7.25k CapOne Venture 15k, QS 2.5k, QS 750, Amazon 10k, Walmart 10k, Citi Simplicity 18k, Discover IT 23k and a nice stack of store cards.
Landmarkcu Personal Loan 10k
Message 6 of 19
ohvrolla
Established Member

Re: Addicted to apping =(

jamesdwi brings up a valid point IMO. Would you rather have 10 credit cards with a $1000 limit each or just one with a $10,000 limit? I'd opt for less cards with higher limits.

Message 7 of 19
b_diddy
Established Contributor

Re: Addicted to apping =(


@keithB wrote:

I screw around with the "pre-approval" links and "pre-qualification" links all the time.

 

I just recently got a "Congratuations" from Capital One for Platnium and Quicksilver.  The APRs suck 20.9-22.9% and I'll probably only get a small CL if I'm approved at all due to all my new accounts.

 

But some part of me wants to submit the app, even though I know it's not the smartest thing to do.  I guess I'm addicted to the thrill of being approved for more credit.  Anyone else here feel this way?  


What is your strategy beyond racking up INQs and denials?  Of course, we all like new cards but over app'ing won't get you solid cards with decent CL's.

FICO Scores: EX 733 (1/17/15) EQ 761 (1/17/15) TU 750 (1/17/15)
     
      
Message 8 of 19
FocusedAndDetermined
Senior Contributor

Re: Addicted to apping =(

It is sometimes a struggle to resist the temptation to app.  Think about it like Thanksgiving dinner.  There's this grat bounty of tasty food that you can gorge on to your heart's content for that one day, but one doesn't dare eat like that every day or there is a great price to be paid.  Sit back and relax for a while.  The longer you wait the better your odds of approval and good CLs.

Message 9 of 19
Jaylima91
Established Contributor

Re: Addicted to apping =(

Oh adrenaline rush..... You get me in so much trouble. Smiley Very Happy
Message 10 of 19
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