No disrespect OP - but I don't think you have read through all the valuable info FWF contains. If you did - you wouldn't be saying the things you say. When I first saw your first post, I thought that this might be an interesting exercise (meaning the list of possible cc applications), but seeing your replies, I'm giving you red and I think you're simply not thinking rationally.

I am not too concerned on Adverse action. One of the credit profiles is quite thin, so anything new is a plus. Inquiries can only hurt you so much. I am aware of the score hit. The worst that will happen is I only get a few approvals. The fact that I have not seen an AOR done on this magnitude makes me want to do it just to see what happens. I have over 90k in BTs showing for over 6 months on my reports, and not 1 adverse action yet. The BTs will take quite some time to show up on the reports, unless the issuer reports quicker than normal (Discover sometimes does this) Some banks such as juniper report the new acct quickly, so I need to beat those too. One issue I need to deal with is where to transfer all the BT money to.. I have read of adverse actions regarding large credit balances, and while I personally moved tons of cash thru BofA, I have been a long time customer, and they didn't flinch. It wasy easy pushing the credit balance to checking. I am thinking transferring to a brokerage acct, but some banks want a CC#. One of my friends doesn't even have an open CC, am I don't think using AU accts is a good idea.

Uh, yeah, make sure to keep us posted on how this all goes for you.

-Bill-

PolarDude said:As I am adding links and checking out different banks.. I am noticing quite a few are serviced by larger financial institutions.

I have heard of people with many chase/citi/bofa CCs. I think 30 apps for one card servicer may cause a redflag. CUs are more work.. .

thats what I tried to tell you earlier. And 30 apps per issuer is far beyond what you can pull off in an AOR. Re-read the AOR FAQ. For most issuers, 2-3 apps per issuer is what they will allow before declining due to multiple apps. There are some exceptions and ways around this, but thats a general guideline. 30 approvals per issuer just isnt going to happen.

Of course, I am interested to see where this leads and you have been working to add links to the OP/quicksummary, so you get green for doing the research and sharing.

PolarDude said:No joke. Unless I get lazy, but the risk/reward ratio IMO is worth it. I have been talking about this for a while with my friends. One has no credit cards at all, all they have is one closed CC. a new Auto loan, and a prosper marketplace loan. I try adding aged CC AU accts to their report, and they should be good to go. The recent NCO inquiry on their report does concern me.


Seriously, you need to think of the negative consequences. If it triggers a financial review etc. Credit could get pulled back, lines cancelled and you increase the risk of your of default rates being triggered. If you miss any of those, the costs is very expensive. I believe Suckisstaples and Scott1961 are all for you getting a much credit as you can reasonablly get and investing and making money, but even drinking too much water can be bad for a person.

In other words, think it over. You have some pretty experienced people waiving repeated big caution flags at you.

Remember, you can be a Bull or Bear on Wall Street, but Pigs always get slaughtered!

I believe Suckisstaples and Scott1961 are all for you getting a much credit as you can reasonablly get and investing

I believe you are either getting your "Fathers of AoR" confused or you are greatly misrepresenting people's views.

Scott is a great member of FWF. However, he has historically been incredibly skeptical of AoR and only reluctantly and accidently has done 1 minor (in terms of applications) AoR in his history.

I'd consider SIS as a leader, in terminology/help/standardization and kind of a "moderate" in terms of aggressiveness.

I'd consider MBaker as the leader of the ultra agressive group.

I'd consider DaveHanson as a leader in the conservative group and risk analysis.

Please don't take offense if I didn't describe you right and apologies to EugeneV and others who have done incredibly creative things.

Once again no offense to Scott I think you are misrepresenting him by saying he represents going for all the credit you could posssibly ever get.

I think what would be more useful would be this list...but broken down by credit card issuers. That would help target your apps so no issuers gets more than 2 or 3 apps.

Here is a list of the major card issuers. There are several that are not on the list Wells Fargo, Juniper Bank, and I think PenFed issues its own card.

Credit Card Issuer FAQ

I'm sure others could add to the list.

Geez...I thought I pushed it with 39 apps on my Nov. AOR. I was only denied once. Chase said that I had to many inquiries in 30 days. Funny thing though, I had applied over the phone for a Chase Cash Plus Rewards card and had not heard anything back from them in a month....low and behold yeaterday the card shows up with a 10k limit. This was well after I got the rejection letter about the Chase Flexible Rewards Card. Anyway my AOR netted me $290k in new credit with $1700 in cardoffers bonus and sign up bonuses. Currently have have $130k sitting in various high yield savings accounts for between 10-18 months depending on the individual BT terms. Score dropped 40 points in the last thirty days since I did my AOR. Still around 730 though. Once all new balances show up I am sure it will make a dent though.

One card you might want to add even though Cap One is scum is the TJX Visa Platinum. I found an app waiting in return line with my wife at Marshall's Clothes store. It was Cap One branded and it offered 0% for 6 months with no fees. Up until then I could not seem to find any no fee 0% offers from them.

Anyway green for your efforts putting together that list. I may be a newbie to FW but listen to what these people say. It takes a lot of effort to manage 38 new accounts that you are moving money around to and from as well as tracking all the sign up bonuses. I can not even imagine 100, never mind 150.

what cra did the tjx pull

Polardude,

Good luck! Plan the logistics over and over to optimize on time. For example, turn off call waiting on your phone to avoid unnecessary distractions during your AOR.

If you get rejection letters, you could write to them saying you are trying to beat Walter Cavanagh's record. It might work.
http://abcnews.go.com/GMA/WaterCooler/story?id=411883&page=1

MaMo

davidaexp1 said:
Remember, you can be a Bull or Bear on Wall Street, but Pigs always get slaughtered!

Spoken like a true Cramerican