All seemed ok so I just decided what the heck go for it. I am tired of typing the same info over and over so I gave up in applying after the following list
The goal of this AOR, like many, is to get 0% money. There is a few business cards added just for the bonus GC/cash/miles.
Current Cards Opened CL Balance Utilization AMEX Blue 2003 $16K $0 0% CLI to 31K the day after AOR BoA (Rewards) 2006 $9K $0 0% *HSBC (DirectRewards) 2006 $25K $638 2.5% Citi Dividends World Card 2003 $8.9K $0 0% CLI to 15K the day after AOR *Citi Professional TY 2006 $15K $1400 9.3% CLI to 30K the day after AOR *BOA FIA CSNA (Fidelity Rewards) 2005 $34.6K $7900 22% increased to 36.4K without request Discover 2000 $10K $0 0% CLI to 12.5K the day after AOR Total $118,500 $9.9K 8% After CLI $158.9K * are everyday cards that are paid off every month
Other Debts Mortgage 1 House $~150K of $189K original balance opened in 2003 Mortgage 2 HELOC 30K limit 0 balance opened in 2006
Deferred means no instant approval. I am disapointed on the fact that I did not get more instant approvals. It did not appear to be any reason why some were deferred and some were approved, the citi professional card was the last card and got the highest balance. All of the apps were done online (aside from USbank).
Credit Scores (TU(inquiries:BT Reported) / EXP(inquiries:BT Reported) / EQ(inquiries:BT Reported)) : 778(1) / 792(3) / 790(4) (8/16/07) Pre AOR 757(3) / 780(9) / 764(18) (9/20/07) 760(2:5K) / 780(9:5K) / 764(18:5K) (9/27/07) bumpage on TU has started 760(2:5K) / 734(9:30K) / 764(18:5K) (9/29/07) 720(2:30K) / 734(9:30K) / 769(16:5K) (10/1/07) TU bumpage stopped started on Equifax 720(2:30K) / 734(9:30K) / 772(14:5K) (10/2/07) bumpage up to the AOR hard pulls I expect to see a delay in bumpage. 720(2:30K) / 734(9:30K) / 772(14:5K) (10/3/07) like I expected 2 pulls no bumps. I expect the TU bumps to start shortly 720(2:55K) / 736(9:30K) / 720(14:55K) (10/4/07) The chase priority club reports as an installment account (no limit) 720(2:55K) / 724(9:91K) / 720(14:55K) (10/5/07) 722(1:55K) / 718(9:158K) / 720(14:55K) (10/6/07) One More TU bump and one more to go 704(0:158K) / 718(9:173K) / 710(13:158K) (10/12/07) EQ bumpage started again, TU Done 698(0:173K) / 717(9:173K) / 728(6:173K) (10/15/07) Yeah, hit the 600's on TU 698(0:173K) / 717(9:173K) / 734(4:173K) (10/16/07) All EQ INQ left are after AOR and will probably take a few more days 698(0:173K) / 699(9:173K) / 719(2:173K) (10/19/07) Note my mortgage was being transferred and just reappeared on EX and EQ which explains the hit. 698(0:173K) / 699(9:173K) / 724(0:173K) (10/25/07) Yeah!!! Done bumping!! Now I can cancel TrueCredit and save 11.21/mo 726(0:160K) / 711(9:160K) / 741(0:160K) (3/10/08) Paid and cancelled the priority club card 710(0:160K) / 713(9:160K) / 740(0:160K) (6/23/08)
Current Cards After AOR Reallocations and CLI's AMEX Blue 31K BoA (Rewards) .5K *HSBC (DirectRewards) 25K Citi Diamond Preferred Card 15K ** after the transfer of the CL they “forgot” to take the 10K off CLR an additional 12.5K *Citi Professional TY 10K *BOA FIA CSNA (Fidelity Rewards) 17.3K Discover 7.5K WAMU 5K ** AOR unused card Total 97.9K
Personal Cards citi drivers edge Approved $7.5K CLI to 10K -- BT'd 9.9K citi att platinum Deferred Approved $7.5K – CLR to Professional Card and closed BOA Platinum Deferred Approved After all CLR 38.5K -- BT'd 38.4K US Bank Deferred Approved 10K -- BT'd 9.9K NEA BOA Deferred Approved 5K CLR to Above Card and closed Juniper Barclays Deferred Approved 5K -- BT'd 4.9K chase Sony Deferred MIA chase priority club Approved 25K -- BT'd 24.9K (3/1/08 - CLR'd to business card and closed) Discover Open Road Deferred Approved 10K limit CLR 5K -- BT'd 14.9K Citi Professional Approved 20K After all CLR's 70K-- BT'd 69.9K Baylor Visa® Platinum Card Approved 15K -- BT'd 14.9K Baylor Visa® Platinum Rewards Card, Deferred – Denied Assumed Chase United 21.5k miles Targeted Deferred MIA American Express Gold Rewards Card Approved no limit WAMU approved 5K WAMU ESPN card Declined – too many apps Kroger 1 2 3 Deferred Denied too many inquiries citi home rebate platinum Deferred Denied - maxed out new card requests Discover Miles Denied Pending app for above
Business Cards Bank Atlantic Juniper Deferred Approved 20K -- BT'd 19.75K Advanta Platinum Business w/ Rewards Approved 10K -- BT'd 9.9K Citi Business Rewards Deferred Approved 7.5K -- BT'd 7.45K American Express : Business Gold Rewards Approved no limit (closed 3/1/08) National City Visa Business Deferred Approved 23K -- BT'd 22.95K (paid 3/4/08) Chase Business Deferred Approved 10K -- BT'd 9.975K -> (3/108 CLR ->35K took additional BT 25.9K) Advanta Platinum Business 12 months $50 Declined only one card allowed
Total new Personal CL: 105K Total Personal CL for BT: 188.5K Total new Business CL: 70.5K
The fruits of my labor currently sitting at 3.55% (after rates fell and CD's expired: 6 Month 0% money: $47.85K (3/6/08 - All paid back) 6 Month (by CLR) 0% money: $25.9K 12 month 0% money: $170.250K 15 month 0% money: $39.350K BT Fees paid: -$400 Estimated Interest (including bt fees) tax free after 12 months: $7200 Estimated Interest (including bt fees) tax free after 15 months: $7500
American Express points: 50K Cash Back: $20 Chase Priority Club: 30K Citi TYP: 0K (Citi screwed me on the 15K! They have no record and after the month and a half of run around, I give up) Drivers Edge Milage bonus 20K TYP
The Citi Professional isn't a business card, its actually a personal card/reported on your personal credit report. There is a CitiBusiness card w/ no fee, 12 month no fee 0% BT, and 15k TY points, see my AOR for the link. You didn't apply for the Baylor University card (again see my AOR), gives big limits but you have to launder thru a citi card. You didn't do the national city visa personal which has a 6 month no fee 0% BT and will mail a BT check, and you didn't do any WAMU cards.
Squeezer99 said: The Citi Professional isn't a business card, its actually a personal card/reported on your personal credit report. There is a CitiBusiness card w/ no fee, 12 month no fee 0% BT, and 15k TY points, see my AOR for the link. You didn't apply for the Baylor University card (again see my AOR), gives big limits but you have to launder thru a citi card. You didn't do the national city visa personal which has a 6 month no fee 0% BT and will mail a BT check, and you didn't do any WAMU cards.
Traditional WaMu cards approval are terrible to deal with. First, they do hate to see any TU pull. Scond, they are subprime lenders, so a year ago I asserted that if you add to the then-active application for card that you frequently make cash advances, you'll get a higher likelyhood of approval/higher CL.
dmlavigne1 said: Which baylor card did you do? They all seem to be a BT $5.00 min and no max?!?!?!? I also tried the additional Wamu card and was instantly declined!
Just added Baylor Visa® Platinum Card, got 15K Whee thats like finding 15K. Wonder if I should try another Baylor card? So all you did was wait for the Citi cards to arrive then BT the baylor money to Citi (thus forming a credit) then writing a check for the credit + the BT money?
dmlavigne1 said: Just added Baylor Visa® Platinum Card, got 15K Whee thats like finding 15K. Wonder if I should try another Baylor card? So all you did was wait for the Citi cards to arrive then BT the baylor money to Citi (thus forming a credit) then writing a check for the credit + the BT money?
thats correct, BT the baylor card to a citi personal card and then you can request a credit limit refund or BT check to be mailed to you online at citicards.com after you log in under maintenance requests. about a week and a half after i got my citi drivers edge card, AT&T universal, and my citi professional cards, citi mailed me some blank BT checks tho, so you could use one of those instead of using the online options.
Thanks Squeezer for the help and linkage. I applied for another Baylor card and was deferred (probably soon to be rejected) I guess I just have to sit aand wait until the cards finalize (and I get to watch my credit scores drop )
treasurebeacon said: why do people keep posting as if the entire FW needs to know of their AOR
Since this is a DISCUSSION board, they post the TOPIC to start a DISCUSSION, which is a sharing of knowledge, opinion, and EXPERIENCE.
Try it, you might like it!
*PS, not the entire FW, only those on FWF... a caring, thoughtful community of people that like to DISCUSS financial TOPICS!*
Back on Topic:
OP, good luck. BTW, NICE HHI!!! are you including relatives in that (other than spouse?). if not, good job for your age!
Don't sweat the scores, they MAY plummet nearly 100 points by the time you are done... recovery is about 6 months (actually, it should increase slightly, because of higher limits)!
Also, don't sweat the deferreds... I did my first time, and my first AOR was a mini... I quit after a couple of deferreds, and ended up getting approvals later! I left a lot of apps unused, and a lot of money on the table... I learned after my first, and am prepping for my third as I type! If I don't chicken out, I will do Lots of biz apps, and will proably end up somewhere around double my current TOTAL CL!
Technologist said: OP, good luck. BTW, NICE HHI!!! are you including relatives in that (other than spouse?). if not, good job for your age! Good LUCK!
Nope, just the spouse. Key is to find a spouse that is as motivated as you and ALWAYS keep looking for better opportunities. We no longer live in an employment from cradle to grave world. If you are good at your profession, someone will pay for your services. Ohh yeah, and pick professions that are maximum minimum (ie, maximum (or relative maximum) salary for minimum schooling) read engineering degrees (obviously I do not have to spell alot or write alot ). They won't earn you CEO or corporate lawyer money but you come out of school employable and can easily advance with little or no debt.
So I thought after all of this why not ask for a CLI on my current professional card. I mean I have already had 15+ hard pulls whats one more. I asked for 15K which I thought was reaching and I got an additional 15K. Of that line 20K will be transfered over to the new professional card for a 0% offer.
I just called Citi again for a CLI on my old Dividend rewards card (now the world dividend mastercard or whatever) and asked for 20K we'll see what happens. I feel like a smuck now becuase I had another rewards card that I cancelled when they changed the Cash Back terms and had a 15K limit on it. The CSR asked if I wanted to transfer the limit to the other card and like a smuck I said "naw, why would I ever need more than 8900 for my gas and grocery card" I was such a moron!!!
The cards are starting to come in. I am going to wait about a week until I get most of them in.
Chase was weird and they sent a letter asking for a copy of my SS card?!?!?!? Oh well, just show me the money.
No real suprises so far but I do have 2 US bank cards that I will have to launder through other cards. I was thinking of taking a draw on my HELOC (which they can transfer to) but that is at prime -.51 so it will take me 1.5 days of interest to make back every day that the line is drawn. And they send a check which will make it hard to time the transactions to minimize the interest.
I successfully reallocated 20K of my Citi TY Professional to the new Professional card (for a 40K available BT). No issues at all. Now I will need to reallocate the other citi dividend card.
The NEA rep called me yesterday. They said they would waive the BT fee of $30.00 if you do the BT on the spot. I told her that I wasn't ready and she said that it was fine. They could only offer me 5K because of my extensive CL with BOA (about 45K plus other cards that I already signed up for and have been approved for) but told me that I could reallocate any of the line then do a BT. Sounds like a plan.
BOA cards came yesterday STILL WAITING on chase. They are by far the worst for getting new credit. A letter and now 2 phone calls Geez! They told me the 3 cards were on the way. I successfully reallocated 10K of the world mastercard to my professional card after recharacterizing it to a diamond card. See my post in the 10th page of this thread. I have started the BT's going. My only mistake thus far has been to request a check from drivers edge only to have blank checks show up sooner. I have also started to consolidate and cancel some of the new cards so I do not have to make a bunch of different payments.
citi drivers edge - Called after I received and had the CSR send me a check made out to me BOA Platinum - DD to my checking 3X (this was my "payback card") and I never carried a positive balance on it the reps were very friendly and didn't give me a hassle. I BT'd about 105K out of BOA in less than 2 weeks with 3 different transfers. US Bank - BT to BOA above Juniper Barclays - Used check that came with the card made out to me chase priority club - Used check that came with the card made out to me Discover Open Road - Requested blank BT checks and made one out to me Citi Professional - Called after I received and had the CSR send me a check made out to me Baylor Visa® Platinum Card - BT to BOA Above
Business Cards Bank Atlantic Juniper - BT to BOA Above Advanta Platinum Business - DD to checking Citi Business Rewards - Called after I received and had the CSR send me a check made out to me Chase Business Rewards - Used check that came with the card made out to me National City Visa - BT to BOA Above
I currently have finished all the BT's and am officially done with the AOR (unless a late card comes)
On a side note Fidelity is Awesome!! I happen to live near a deposit center and they have a 0 day hold policy on checks so on the night of the deposit my big BT checks were earning interest! This is so much better than US Bank's 5+ day hold policy.
markkundinger
Senior Member - 2K
posted: Sep. 20, 2007 @ 6:16p
dmlavigne1 said: On a side note Fidelity is Awesome!! I happen to live near a deposit center and they have a 0 day hold policy on checks so on the night of the deposit my big BT checks were earning interest! Um, I believe that the funds are credited to your core money market and are available to purchase securities immediately, but there's still a 4 business day hold until you could make a withdrawal (since I was depositing money into FNBO, it was an issue).
markkundinger said: dmlavigne1 said: On a side note Fidelity is Awesome!! I happen to live near a deposit center and they have a 0 day hold policy on checks so on the night of the deposit my big BT checks were earning interest! Um, I believe that the funds are credited to your core money market and are available to purchase securities immediately, but there's still a 4 business day hold until you could make a withdrawal (since I was depositing money into FNBO, it was an issue).
I'm not sure about that maybe, but I start earning interest that night. I did ask the rep and he said that the "amount to purchase securities" is the total that can be paid out. I really don't care about the withdraw period just let me start making interest in my final account quickly.
I have discovered one AOR mini-mistake. I had very few pulls before this all started but I had been monitoring with TC since June doing almost daily pulls. This was a mistake for bumpage. Being a programmer and reading on others bumpage I believe that the bumps are based on FIFO IE first in first out. An example
TC pull (latest) AOR pull AOR pull AOR pull pre AOR TC pull pre AOR TC pull pre AOR TC pull Old Hard Pull Old Soft pull Old Hard Pull (first)
This is for either EQ or TU.
My first pull the old hard pull will fall off. Next a old soft pull (not really visible) will fall , next an old hard pull will fall off then all of the TC pulls pre AOR then the AOR pulls.
Net I wasted my money and time doing pre AOR pulls while it "forwarded" the old pulls to be closer to falling off the report it padded the report with soft pulls which makes it hard to tell when the actual bumpage of the AOR pulls will take place. I had one TU pull fall off now and believe I am in the "Pre AOR soft pull group" so I do not see any bumpage. I had a couple of old EQ pulls fall off but expect that I will enter the "Pre AOR soft pull group" shortly.
Simple FIFO stack is only one of possible implementations ... one thing it does not explain is that sometimes one soft pull makes two or more hards go away at the same time, so I think it's something more complicated. My guess is that it's something more complicated written in one of the older programming languages ... the "older programming language" is my explanation as to why TU/EQ do not fix the b* issue at the root -- they don't have the programmers who know the old language well enough in order to fix the problem without making it worse. It's much like some WS companies "blindly" using some trading algorithms written by the people who have since long left the companies (as long as thes algorithms make and not lose money).
FIFO seems to be exactly what it is. I will bet dollars to donuts that the EQ bumps start going again in the next couple of pulls. The TU bumps followed that exact schedule when you looked at the spacing of the bumps and the known soft pulls inbetween the hard pulls.
cyberkost said: Simple FIFO stack is only one of possible implementations ... one thing it does not explain is that sometimes one soft pull makes two or more hards go away at the same time, so I think it's something more complicated. My guess is that it's something more complicated written in one of the older programming languages ... the "older programming language" is my explanation as to why TU/EQ do not fix the b* issue at the root -- they don't have the programmers who know the old language well enough in order to fix the problem without making it worse. It's much like some WS companies "blindly" using some trading algorithms written by the people who have since long left the companies (as long as thes algorithms make and not lose money).
So the first of my AOR money is coming do from Chase and and I thought lets email them again to confirm on the pay back date. They had told me 2/28/08 5 months ago. I email them and they respond 2/22/08. Nice! Other people have mentioned that Chase plays these pay back date games. Just a warning.
In true FW style, I took another (actual) balance transfer on my citi cards and boa cards for the payback of a little of the 6 month money. Net $5300 in free BT money for 6 months or $120 in interest.
Once I pay back the priority club I am going to reallocate the line to the business card and close it to avoid the maintenance fee. I should have done this from the beginning (leaving a 500.00 line for the first purchase) to avoid 2 $75.00 fees. Live and learn The net is still positive but would have been $150.00 better without paying $150.00 for 12 months of 25K
My payoff transfer posted today and I called to reallocate the 25K from the Priority Club personal card to my Chase business. No problems at all... sigh....
I should have done this from the beginning to avoid the additional bt fees ($150.00). Even with the sliding interest rates and the fact that I will only get about 5 months out of the money, it is still worth it for another BT for the fee. At current rates, I will net about $195.00 on the money - $75.00 BTF = $125.00 for a phone call.
After I did this, I figured to call American Express and cancel my personal and business gold card (I have already got the rewards and cashed the points). I still have six months left before the fee hits. The retention department offered me $65.00 credit on the personal card (which I took) and $25.00 on the business card (which I declined and closed the card)
$65.00 is worth my time for another call, $25.00 is not.
momac
Member
posted: Feb. 26, 2008 @ 8:22p
I hope you don't mind me asking this on your thread. I have a subscription with True credit. When I sign in to look at my credit report, is this doing b or does it only do it when you hit the update report button to the side of the report? Thanks
So my first adverse action just happened along with another way to make a few bucks detailed here: link
I had the following: Diamond card with a 2.5K limit Professional TYP card with a 10K limit (PIF automatically every month we charge between 500-1K/mo on the card) Professional card with a 70K limit (balance 68.5K AOR card) Drivers Edge with a 10K limit (9.7K AOR balance) Citi Business with a 7.5K limit
Currently online: Diamond card with a 500 limit -> 2K reduction Professional TYP card with a 1K limit -> 9K reduction Professional card with a 69.4K limit (balance 68.5K AOR card) ->.6K reduction (whoppee) Drivers Edge with a 10K limit -> but did get the offer linked above Citi Business with a 7.5K limit -> no change
I am pissed about the professional TYP card. Right now I have $80.00 of available credit because the bill isn't due for 10 days and there are $700 in charges from last month and $200 current charges on it. I called the donkies at Citi and explained exactly what I was doing with the AOR money and offered to show them 400K+ in HYS. The CSR said she would recommend that my lines were reinstated but there are "no guarentees" I told her that this is ridiculous considering it is auto PIF and has been for over a year.
Going to get a call back from a manager within 48 hours, will update later
markkundinger
Senior Member - 2K
posted: Jun. 19, 2008 @ 3:52p
Let us know how it works, good luck. That's a ver Chase-like adverse action.
I would have recommend reallocating to the Citibank business card, and BT'ing that. Citibank might be slightly less likely for AA on those. More importantly, it would have disguised the utilization from your personal credit report.
Almost paid. Down to the BOA card waiting to clear from the report and a 8.9K us bank card that is good until 1/09 (which I will pay off befor the statement closes to just have 100% clear. Bank Atlantic and Advanta are the other last to go. Another AOR 1.0 learning is to get in and out within a reasonable amount of time. IE don't drag out the AOR for a couple of cards. I did not figure the exact total but I think it cost me money as compared to the additional time of over 12 months. There has to be a break even time frame of where to pay it all back and just take the interest hit. All and all successful.
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