DreamR2I's real AOR - Your expert feedback solicited

I have an inquiry from Household Bank. Would you know which card is this for?

TIA

Few questions:

1. For both Discover applications (More and Driver) got a strange letter saying "our recoreds inidicate that we are processing or have already processed a prior application from you. Therefore, this application has been canceled."

I think they are refering to the 0% for life card which is approved. But these cards were different than those. Don't know why it it like this. Anybody seen this before? I will call them tomorrow.

2. I would like to wait till I get all the cards before starting BTs. Do you think is there any issue with that?

3. I received the Sony card, with one BT check. I need to make one purchase to get the $100 credit. So, I will do the purchase before th BT. Can the credit be used to pay the minimum paymnet or will i tbe adjusted to the BT amount?

TIA

DreamR2I said: Few questions:

1. For both Discover applications (More and Driver) got a strange letter saying "our recoreds inidicate that we are processing or have already processed a prior application from you. Therefore, this application has been canceled."

I think they are refering to the 0% for life card which is approved. But these cards were different than those. Don't know why it it like this. Anybody seen this before? I will call them tomorrow.I guess Discover only allows you to apply one personal card at one time. Anyway, there is no need to apply multiple cards from them. If they approve you, they will just take some CL away from your existing cards. This applies to business CC as well. When I got my Discover business CC approved, they just took some CL from my personal card.

DreamR2I said: 2. I would like to wait till I get all the cards before starting BTs. Do you think is there any issue with that?I wouldn't do so. As a matter of fact, I am more pro-active. I called them to see if I get the CCs approved after a few days. If so, I request BT over the phone. At that time, I don't even receive the CCs yet. I agree with Mark - time is money.

DreamR2I said: 3. I received the Sony card, with one BT check. I need to make one purchase to get the $100 credit. So, I will do the purchase before th BT. Can the credit be used to pay the minimum paymnet or will i tbe adjusted to the BT amount?Also same comments as Mark. In my AOR, it turns out that half of the CCs that have 0% APR promotion on BT also have 0% APR on purchase. So you don't really have to wait. In addition, if you have a big CL that you can BT, you shouldn't mind doing it first, and then go ahead to purchase something like $1. The interest that you lost in waiting will be more than what you have to pay for the high rate interest on $1.

Got Discover card today. There are no BT checks with the package. Do they send them later or Should I call and request?

TIA

1. Called Discover, they said I should get the convinience check within next 1-2 months. Does it usually take that long? I am thinking of calling them again in a couple of days. Would that help?

2. Got Chase card with 12.3k limit, transfered 9k CL from my United/Chase card to increase the limit on new card to 21.3k. The reason I did that is new chase has 17 months 0% BT.

3. Chase sony card with this AOR has a CL of 10.5k. Would they allow me to trasnfer that CL of that the above chase? If yes, I would like to consolidate BT on one card, reducing the BT fee ($50 for Sony and $75 for chase)? Is this preferred?

4. My plan is to do BT up to 88% on the two major cards - 1) Chase becuase it has 17 month 0% 2) Discover, becuase it has 0% for life. I will keep the other AOR cards at 48% and overall ~30%. Should this be okay or you guys advise me not to reach 88% on the two cards?

TIA

markkundinger said: You should be able to consolidate the two Chase cards. But I doubt they'd lower the BT fee on one card to "pricematch" the other. I think you should do the math to see if it's better to save $25 bucks on the fee, or extend the BT for another 5 months.

Only maxing out two cards (neither of them AMX) is a fairly conservative way of doing things. It substantially reduces your chance of adverse action. Personally, I'm greedy and maxed out more cards.

What was the effect of maxing out on most cards? I bet the Credit score gto hit badly, but did it recover after some time? Did any of your AOR card companies can cancel/increase APR?

DreamR2I said: What was the effect of maxing out on most cards? I bet the Credit score gto hit badly, but did it recover after some time? Did any of your AOR card companies can cancel/increase APR?
I've got my own lengthy topic also. But short versoin, this time I had a FAKO drop of 100 points. My first AOR had a FAKO drop of nearly 150 points. On first AOR, credit line decreases from Chase. This one, nothing (yet).

DreamR2I said: Another quick question:

Is it better to do multiple BTs with all the new cards issued (in AOR) by same company (e.g. 3 cards of Citi) or consolidate on one card to have a big single BT? All the cards have same BT conditions (fee, 0% APR duration etc.)

What are the pros and cons of each option?

TIAI would say it is better to consolidate on one card to have a big single BT. If there is a fee, why would you want to pay multiple times? Even if not, there will be enough cards for you to manage. You have to deal with the statement closing date, payment due date, pay minimum amount+, pay back the total before the 0% APR offer expires, etc. Less card is obviously more desirable for me.

I don't see any pros of the other option.

jleung/cyberkost,

Thanks for the reply. I want to transfer CL from Citi Driver's edge to AT&T Citi card. But they say that other card being AT&T not pure Citi, they can't transfer CL, however they can close drivers edge and consolidate the CL with AT&T.

Does closing a brand new card (2days old) hurt me in any way. I understand that it wouldn't hurt the credit histroy that much. I am worried about Citi not taking it easily in the long run.

Anybody done this before/ prior experiences?

TIA

DreamR2I said: jleung/cyberkost,

Thanks for the reply. I want to transfer CL from Citi Driver's edge to AT&T Citi card. But they say that other card being AT&T not pure Citi, they can't transfer CL, however they can close drivers edge and consolidate the CL with AT&T.

Does closing a brand new card (2days old) hurt me in any way. I understand that it wouldn't hurt the credit histroy that much. I am worried about Citi not taking it easily in the long run.

Anybody done this before/ prior experiences?

TIA

Ok, I think AT&T not being pure CITI is BS. So, first thing I would do is to call a few more times to see if different CSRs tell the same story. If it is true that the only way to go ahead is to close Driver's Edge, than go ahead and do it if you so desire (after taking all of its CL over to AT&T, obviously). You won't lose much (perhaps you just got the extra ding on your CR for nothing but a larger CL on your AT&T). I don't see what CITI will not take easily in the long run (this is to say that I've never heard of anybody denied a card or a CLI b/c (s)he has closed a fairly new card in the past).

cyberkost said: Ok, I think AT&T not being pure CITI is BS. So, first thing I would do is to call a few more times to see if different CSRs tell the same story.I agree with cyberkost. You should be able to get a CSR to re-allocate the CL for you without closing the account. Try calling the 1-800 number at the back of each card. It may help too.

I have successfully re-allocate all my credit line (from AA, old Universal, old Dividend) into the new AT&T card. Later on, I re-allocate the CL to the Citi business card, where I did my BT there.

I tried three CSRs last night on three different cards. got three different answers:

1. Can't transfer because of not citi
2. Can't trasnfer but can close the card and consolidate the CL
3. Can't do either because both source and destination cards have special feature (0% APR)

I will try couple more tonight and atleast reduce 4 cards to 2.

Thanks

Dang! When I checked my BoA account summary online, found out that exisiting CL was reassinged to new cards, net, I didn't get any increase. Is there any use to call and complain, as they didn't even mention this to me?

TIA

After at least 15 calls with various CSRs and different permutations and combinations of my 5 Citi cards (4 new+1 old), I was not able to reallocate/consolidate any of the CLs. Don't know whether I lack talking skills or rules have been tightened now.

I have asked for BT checks on both individual cards, which would result in $150 BT fees.

I am still trying till I get the BT checks, but not hopeful of a positive outcome.

Yep, others have gotten FR's from AMX without doing a BT request. (not me personally, though) So you're not alone.

Quick question:

Is there any -ve in adding wife to my non BT cards as added user? For example, my AMEX Blue cash has zero balance and is purely used to keep total utilization low. Is there any -ve if I add her to this card?

She also has her own AMEX blue cash card wtih zero balance as well.

TIA

For Citibank... you might get some mileage. One FWFer got some temporary reliefe with Citibank when they closed some cards after an AOR.

As for adding the wife as a joint user. It could, theoretically, boost her utilization figures. It could also reduce her average age if these are new cards. Most importantly, the loophole of having authorized user status count towards credit scoring will eventually be closing, so it won't matter in the future.

The usual rule of thumb is to keep credit reports segregated when AOR'ing. And I'd probably stick with it out of simplicity.

If you make the wife AU on some of the cards, but then later jack up the balances, then you'll need to un-AU her to keep it from slamming her credit. And this is all for a credit score benefit which will be going away soon.

Or, for simplicity, you could just avoid making her an AU in the first place.

Hi,

Chase reduced CL on my BT card from $30,800 to $26,500. The new limit is $1000 more than the balance I have on the card.

Any possibility I can talk them into bring it back? Any pointers/tips?

TIA

DreamR2I said: I called them, the financial analyst said the reason is high debt (105k). I told about my high income ($150k). She asked why I have thtqa much of debt. I didn't tell her about 0% APR. Should I told her the truth? If so, would that make any difference?

TIAWhy wouldnt you tell her "Its at 0% so I dont see a need to pay it off right now; I'm going to keep the money in my savings account until the rate goes up."? Would it have made a difference? Who knows. But any story you made up hurt your chances more than the truth would've.