posted: Aug. 15, 2007 @ 11:33a 
Q=01LX, I have CitiGold. Do you have to call them to waive the $75 fee? Or the system will waive it automatically?
My virgin AOR 1.0 Archived From: Finance |
Q=01LX, I have CitiGold. Do you have to call them to waive the $75 fee? Or the system will waive it automatically?
vcxzfdsa said:I thought advanta only allowed one card. Since you got one already. I don't think you'll get another??
You are correct. They only allow one card. It would be interesting if you cancelled your current one and reapplied. No one has tried/posted about that as of yet, and I'm curious if this is the way to get another 15 month 0% BT out of them.
01LX said:Catchy title, "Virgin."
As long as there's no blood involved...
djspray said:vcxzfdsa said:I thought advanta only allowed one card. Since you got one already. I don't think you'll get another??
You are correct. They only allow one card. It would be interesting if you cancelled your current one and reapplied. No one has tried/posted about that as of yet, and I'm curious if this is the way to get another 15 month 0% BT out of them.
If I cancel my current one, how long does it take before I can apply for a new one?
Hmmm..., does it mean that I should drop it ......
jleung said:
I have CitiGold. Do you have to call them to waive the $75 fee? Or the system will waive it automatically?
per previous threads, you have to call them. They will refund the fee.
jleung said:djspray said:vcxzfdsa said:I thought advanta only allowed one card. Since you got one already. I don't think you'll get another??
You are correct. They only allow one card. It would be interesting if you cancelled your current one and reapplied. No one has tried/posted about that as of yet, and I'm curious if this is the way to get another 15 month 0% BT out of them.
If I cancel my current one, how long does it take before I can apply for a new one?
Hmmm..., does it mean that I should drop it ......
I'm not really sure how long they would require to churn a new card. If you aren't using your current card for a BT, and don't mind losing the (now) crappy reward structure, it might be worth a try. I realize you have a decent CL of 7.5k, so I guess its a gamble. I've seen over half a dozen people try to get a second card from them claiming different business names, "I don't even know who that person is at my business," etc. and they don't budge.
PRETTY EXTENSIVE, probably the most important of all is what could happen after you get the new accounts....and your CR showing over or close to 40 inquiries and perhaps more than 30 new accounts...IT is important to take that into account. CHASE has been closing accounts or reducing Credit lines for having too many new accounts or inquiries. AMEX is also reducing CL etc. I had a long phone conversation with Chase on Monday trying to increase my CL by 2,000. They could not barge and insisted that I have too many inquiries on my report. (12 inquiries in total: 9 new 2 old)... SO IT IS IMPORTANT TO HAVE YOUR GUARDS UP, AFTER EFFECT. Please post your results, Iam sure everybody will love to know.
jleung, take a look at this archived thread for more details on how many citibank cards you can apply for. Citi Apps thread
2 months ago, I was approved for: Business $12K, Business PremierPass $6K, PremierPass Elite $20K, AT&T $7.5K, Driver's Edge $7.5K, Professional $15K, HHilton Honors $25K and Business AAdvantage $40K in that order. I had no other open Citi cards at the time.
I suggest you find out which CRA your applications will likely pull and try to avoid excessive Experian pulls because you will not be able to bump them off (unlike TU and Equifax). Here's a Credit Pulls Database from creditboards. (You'll need to register)
I used cardselection for as many apps as I could and already cashed one $115 check and have another on the way after 3 citi and 1 chase apps required extra legwork. Here is the list of apps that I went through cardselection:
Date Card Reward Status
08.14.2007 Citi® Drivers Edge Credit Card $25.00 Paid
08.14.2007 Chase Platinum Visa® Business Card $40.00 Paid
08.14.2007 Citi® Hilton HHonors® Visa® Signature Card $25.00 Paid
08.14.2007 AT&T Universal Rewards Card $25.00 Paid
07.17.2007 IN:NYC® Card from American Express® $30.00 Paid
07.17.2007 American Express SimplyCashSM Business Card $60.00 Paid
07.17.2007 Advanta Platinum BusinessCard with Rewards $25.00 Paid
I agree with some others that you need to reel it in a bit. Try to be more picky about which personal cards you apply for from the major issuers and try to find more business cards from smaller banks (like the BankAtlantic and M&T that you have listed and this Fifth Third Bank Business MasterCard (0%, 12 months, no fee) that you don't. The reason is that you can max out all the business credit lines without causing much if any adverse action, while if you use more than 50% of your reporting personal lines there will likely be some consequences. I've been reading about a lot of account closures from Chase recently, in particular. Dave Hanson's thread that you referenced as BT3 should be studied to help guide your strategy moreso before than after the AOR.
UpZone, it seems that the overall comment (including yours) is, I need to be more selective, especially with CHASE and AMEX applications. For Citi, worst case I will get denied without much adverse effect.
r0man, thanks for the information about the Credit Board Database. It is very useful.
I will add Fifth Third Bank Business MasterCard to the list.
If there are other similar smaller bank business cards, please let me know and I will add them to the list.
I will keep the whole list of cards in the OP. When I decide the subset of cards to apply, I will post them in the Quick Summary.
UpZone said:PRETTY EXTENSIVE, probably the most important of all is what could happen after you get the new accounts....and your CR showing over or close to 40 inquiries and perhaps more than 30 new accounts...IT is important to take that into account. CHASE has been closing accounts or reducing Credit lines for having too many new accounts or inquiries. AMEX is also reducing CL etc. I had a long phone conversation with Chase on Monday trying to increase my CL by 2,000. They could not barge and insisted that I have too many inquiries on my report. (12 inquiries in total: 9 new 2 old)... SO IT IS IMPORTANT TO HAVE YOUR GUARDS UP, AFTER EFFECT. Please post your results, Iam sure everybody will love to know.
Agreed on the "too many recent inquiries," for which I was recently denied the Cap1 No Hassle Rewards according to the letter I received. Reason for the denied CitiBusiness still not confirmed, but possibly for same reason. Oh, almost forgot about the HSBC Premier 2% rebate card, DENIED.
My recent (inquiries) approved cc's were, Citi PremierPass Elite, Exxon-Mobil gas, AMEX Business Gold, Sonycard, BofA Univ. of Iowa Alum.
Try to not say "substract"
Questions:
- Are there any other cards that I should add or substract?
I have put the final (or close to final) list of Credit Cards that are being planned to apply, in the priority order for each issuer, in the Quick Summary. If there are any comments please let me know. Thanks.
It's a good list - just too many. Save some for your next app spree.
OTOH, from a purely selfish perspective, i'd love to see you pull the trigger and see what happens.
lhendricks92 said:It's a good list - just too many. Save some for your next app spree.
OTOH, from a purely selfish perspective, i'd love to see you pull the trigger and see what happens.
Did those words just come out of your mouth, or mine? 
I'm with lhendricks92.. I'm curious to see what happens to you if you pulled the trigger, but I do think it's too many apps.
On another note, have you figured out the order of cards in which you're going to apply?
lhendricks92, maybe I will fine tune the list more.
dragoon976, the list is already in the order of application. Any comments?
this is really a nice thread!
I've done a BT (0 fee, APR) to pay off my auto loan (11k) recently. I'll try to get another BT to continue next year. 
thanks op
I would drop *at least* these apps:
Citi® Dividend Platinum Select® MasterCard®, 0% BT 12 months, max BT fee $250
Citi® Diamond Preferred® Rewards American Express® Card, 6,000 TYP, 0% BT 12 months, no max BT fee
Chase Platinum Visa, 0% BT 12 months, max BT fee $75
One of:
AMEX IN: NYC, 0% BT 6 months, no BT fee
AMEX IN: CHICAGO, 0% BT 6 months, no BT fee
AMEX Blue, 0% purchase 15 months
AMEX Platinum Business, 0% purchase 12 months
BoA Financial Rewards® Visa® Platinum Plus®, 0% BT 6 months, no BT fee
BoA Money Return Visa Card, 0% BT 6 months, no BT fee
BoA FIA Elite Rewards® World MasterCard® Credit Card, 0% BT 12 months, no max BT fee
BoA Rewards American Express Card, $50 credit, 0% BT 12 months, no max BT fee
BoA Platinum Plus® Business Rewards MasterCard®, 0% BT 9 months, no max BT fee
First National Elite Visa, 0% BT 12 months, max BT fee $75 (They'll never approve you this far into an AOR)
With AMEX and BofA you can easily reallocate lines so you just need 1 good BT card. More than 2-3 of apps will yield decreasing returns and will make it that much less likely that you will be approved for useful cards near the end of your list. If you must apply to several additional cards from Chase, AMEX, Citi and BofA then do those apps after you've already applied for the better cards from the smaller banks (like BankAtlantic, Juniper, M&T, Nat'l City). What will most likely happen even if you do get accepted for a 6th Chase or tth AMEX etc. is that you will get a small line and cost yourself the chance to get the other cards I mentioned which will yield much higher lines because by then you will have more hard inquiries than the smaller banks like to see.
This is great. Thanks for all of this information.
GL to you on your AOR.
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