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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?
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.
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 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
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…
@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.
@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.
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.
@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.
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.