I pulled the trigger on 1/15 AM. Took about 1 hour and I was really going for a bit of everything...bonuses, points and 0% offers but I was leaning towards miles. Sorry about the formatting, did the best I could.
Here was my status before the AOR:
Card Personal Cards------------Limit----------Year Open AMEX Blue-----------------22500----------2004 Citi Diamond Rewards (DR)--2000----------2005 Citi Platinum Select-------8400----------2005 Citi Diamond Rewards------19300----------2003 Providian (FAKO card)------7000----------2005 Schwab MBNA---------------15000----------2005 Discover------------------10600----------2002 BOA Plat Visa-------------10000----------2006
Total CL before AOR-----121,300 Total Balance---------------230
Also have 5-6 department store cards or lines of credit (1-2k) open from 1993-1996. I closed older CC lines years ago before I knew any better.
Business Cards AMEX Plat business--------26500 (reduced to 500 by AMEX to give limit to other cards in AOR)
Increased CL on AMEX and BOA a month or so before AOR
FAKOs before AOR EX/EQ/TU 781/780/781 1 inquiry within past 6 months HHI 175k
Cards Applied for--------Limit-----Cardoffers------Miles-----Other------0% terms Personal CitiAA-------------------------14100--------40-----------15000 Discover Wildlife (0%)---10000--------40-------------------------------12 months standard AMEX Starwood------------19300--------40-----------10000 Chase United--------------11000---------------------25000
Citi Diamond Rewards (0% for life) DENIED
GM HSBC flex (0%)-----------600--------30-------------------------------12 months standard Chase Freedom (0%)--------6500-----------------------------------------12 months standard Juniper Iceland Air (0%)----22000---------------------10000 (+5k w/BT)-----6 months standard
First National Bank Omaha----------DENIED
BOA US Airways-----------15000--------40-----------25000 Penfed Cash---------------25000
Business Advanta (0%)------------------12500--------50-------------------------------15 months standard CitiAA Bus----------------------15000--------10-----------20000 AMEX Bus Starwood---------46000--------75-----------10000 Chase Business United----15000---------------------25000 CitiBus PremierPass (0%)-13500--------------------------------15k TY points---12 months (no fee!) AMEX Bus Delta--------------34000--------75-----------10000
Overall Total Cards-------------------Credit Line (including business) 25----------------------355,200
FAKOs after AOR EX/EQ/TU 771/770/771 TU is back up to 780 today however, maybe due to B 15 new credit inquiries and citi hit BOTH EQ and TU for one app
Notes Cards denied-----------------------------------Reason Citi Diamond Preferred (0% for life)-----------Too many open lines and too high debt to credit ratio??? FNB Omaha--------------------------------------Too many inquiries (kind of expected that I guess)
First two rejection ever for credit cards
The HSBC GM flex car gave a WHOPPING limit of $600, should have listened to others in this forum. I was informed my point earnings are UNCAPPED though, big deal.
Of course I was denied for my most wanted card, the 0% for life. Don't understand why my debt to credit ratio was too high but then I looked at my credit report more closly. Under EQ my student loans were listed open with both the US Dept of Ed and my consolidation company. Total balance on the credit summary is correct, but they are listed as open under both sources in the accounts section. Not sure if this matters, but I am writing to EQ to have that changed. Maybe I should hire Codename to sue for me?
The two starwoods cards are nice because with 20k points I can now get 25k miles on carriers like AA.
20k points for the Chase United cards and 5k extra after one year. Have to pay the annual fee then to get extra 5k though.
BOA USairways charged $90 for the card...thought it was free the first year but was wrong. Still a ticket for $90 isn't bad I guess.
Have received credit for $320 worth of my card offers bonuses so far, which I am surprised about.
My older MBNA gives 0% for 6 months regularly, not great, but worth it with a higher CL When consolidating to my Citi Diamond I checked BT offers, best was 1.9% for 12 months or 0% through August.
Consolidated credit lines to these cards
Card------------------Old Line-------------------------New Line MBNA------------------15k------------------------------30k Citi Diamond----------19.3k----------------------------30k (will move ~10k from citiAA) Chase Freedom---------6.5K CL increase to 15k----------25k Citi Bus PP-----------13.5k----------------------------27.5k
Going to stay around 50% individual utilization on cards but am still worried about the amount of CL I now have with AMEX. Don't want the dredded FR even though I can back everything up. I don't plan any BTs with them however. ~70k is going into a 5% account but I may try to get some additional miles by opening an account with Ameritrade for 20k more starwoods points. Only 25k deposit needed. Overall I plan on pulling out 70-80k for about 11 months. Expect a return of ~3k, plus or minus a few hundred. I'm too lazy to run the numbers.
Want to use some of the miles for a first class trip to europe for a friends wedding. Haven't flown anything but coach, ever. Plan to visit flyertalk to make the best of the miles.
Thoughts Always apply for the card you want the most FIRST. I am not sure what to do about the 0% for life citi card I was denied on...really wanted that card
Also, do screen captures or pdfs of the apps as you apply for them. Chase tried to screw me on BOTH the United cards with only 11k miles. Chase does give you 1000 points for credit protector (30 day trial) and 500 for going paperless. That's an extra 3000 miles between the two cards. Just have to remember to cancel the credit protector crap. I won't carry a balance on either of these cards though and you only get charged with a balance. I'm hoping they will offer more miles when I call to cancel in 20 days or so.
Summary ~260k in new credit lines, $550 in bonuses, 165k in miles, 70-80k in BT money, 3k in interest (eventually), and possibly and extra 20k starwoods points (but lower accumulated interest).
Took longer to write this than to do the actual AOR
Wish I didn't have to add in all those damn dashes to make the formatting look okay and it still sucks anyway.
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02/11/07 Creditsecure FAKO Update
All accounts open, scores went from
Before AOR--------EX/EQ/TU 781/780/781 After AOR-----------EX/EQ/TU 771/770/771 After Accts open--EX/EQ/TU 749/749/749
02/04/2007
Cards Applied for--------Limit-----Cardoffers------Miles-----Other------0% terms Personal CitiAA-------------------------14100--------40-----------15000 Discover Wildlife (0%)---10000--------40-------------------------------12 months standard AMEX Starwood------------19300--------40-----------10000 Chase United--------------11000---------------------25000
Citi Diamond Rewards (0% for life) DENIED
GM HSBC flex (0%)-----------600--------30-------------------------------12 months standard Chase Freedom (0%)--------6500-----------------------------------------12 months standard Juniper Iceland Air (0%)----22000---------------------10000 (+5k w/BT)-----6 months standard
First National Bank Omaha----------DENIED
BOA US Airways-----------15000--------40-----------25000 Penfed Cash---------------25000
Business Advanta (0%)------------------12500--------50-------------------------------15 months standard CitiAA Bus----------------------15000--------10-----------20000 AMEX Bus Starwood---------46000--------75-----------10000 Chase Business United----15000---------------------25000 CitiBus PremierPass (0%)-13500--------------------------------15k TY points---12 months (no fee!) AMEX Bus Delta--------------34000--------75-----------10000
b) I believe Juniper also offers a US Airways card. While the damange from new accounts is already done, you might still be able to pick it up.
c) FNB Omaha seems to do a lot of too many inquiries rejections. It may not be well-suited towards an AOR (or at least the end of an AOR).
d) Opening brokerage accounts for bonuses is a GREAT method of using AOR money. Don't forget that Fidelity can get you 35,000 AA or UA miles, plus $100, if you can deposit $50,000. Plus, you get a really handy place to invest the 0% money. (I opened both Fidelity and Ameritrade in mine, but I prefer Fidelity as a brokerage). Bear in mind that Ameritrade may want you to keep your money with them for 9 months (they have for other promos, anyway).
e) It doesn't look like you're going to do BTs from AMEX, so I wouldn't worry too much about a FR. Even if they do do one, then all they're going to do is reduce CL's that you're not really using.
Anyway, nice job so far on the AOR. I hope there's a Starwood property near your friend's wedding. And I hope it's in Reykjavik
thanks for the tips on fidelity and juniper, i'll check them out.
and, my flight for the wedding will take me through Reykjavik, so i was thinking about spending a weekend there too there goes my bonus money and future interest gains though...
AMEX was quite generous with the Biz cards! Although it looks like there weren't 0% offers on those that had the 2 highest limits. Did you have a corp, or sole proprietor? Ein # used? Too bad citi denied the 0% for life. Maybe you can get it on reconsideration, the reason given seemed bogus!
PolarDude said:AMEX was quite generous with the Biz cards! Although it looks like there weren't 0% offers on those that had the 2 highest limits. Did you have a corp, or sole proprietor? Ein # used? Too bad citi denied the 0% for life. Maybe you can get it on reconsideration, the reason given seemed bogus!
yeah, i was surprised by the AMEX credit lines too. but, it seems like they are just giving them away lately with the auto CLI onling. i have an actual small business registered but it's a sole prop. so i just used my SS, no EIN.
didn't know you could get "reconsidered" for a card. do i have to call in and beg?
grendhal said:thanks for the tips on fidelity and juniper, i'll check them out.
and, my flight for the wedding will take me through Reykjavik, so i was thinking about spending a weekend there too there goes my bonus money and future interest gains though...Iceland Air often has some of the least expensive flights to Europe. Stopping over in Iceland could add a very unique experience. (I end up flying over the top of it on almost every flight to Europe.)
My honeymoon was in Europe and I considered booking through Reykjavik, but ultimately decided to spend more time at our destination. Anyway, I don't think it's a strange route...!
i live in a hub city so i guess i'm luckier than some since there are only a few cities they fly out of in the US. they are usually one of the cheapest flights to northern europe and have good service too, especially if you get on the 'Emil's lucky fare' list. $300-$400 for a rt to iceland (or sometimes stockholm, copenhagen, etc.) isn't bad! tried to talk my buddy into having his bachelor party there but there weren't many takers. it's cheap but not THAT cheap.
grendhal said:PolarDude said:AMEX was quite generous with the Biz cards! Although it looks like there weren't 0% offers on those that had the 2 highest limits. Did you have a corp, or sole proprietor? Ein # used? Too bad citi denied the 0% for life. Maybe you can get it on reconsideration, the reason given seemed bogus!
yeah, i was surprised by the AMEX credit lines too. but, it seems like they are just giving them away lately with the auto CLI onling. i have an actual small business registered but it's a sole prop. so i just used my SS, no EIN.
didn't know you could get "reconsidered" for a card. do i have to call in and beg?
I think the best way to get reconsideration with success, is to write a letter. PITA, but from what have read, you have over 50% chance of getting it. Planetfeedback is another way, but old fashioned, well written letters seem to be the way to go. People say this is the best way to get derogatory items off your credit as well.
Name: fatwallet2099 FICO and/or FAKO : 786 Applied # ?? maybe 40 plus Approved # 25 Approved % TimeFrame: 10/1/06 till 3/10/07 HouseHold Income: 170000 Reported Utilization Before: less than 10 Total CreditLimit Before: 40,000 New CreditLimit from AOR:250,000 Total Credit limit after AOR:290,000 Bonuses from AOR: $5500.00 $1400 of it outright credits FICO and/or FAKO scored decreased: FICO 668 Expected Income from money invested from AOR 3,500
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. Still a ticket for $90 isn't bad I guess.
there goes my bonus money and future interest gains though...
