I have been thinking about an AOR ever since I found this board about 6 months ago. Before that I was doing 0%BTs almost at random without the benefit of sage advice found here. I would just apply whenever I saw an ad or got a mailer or even at the airport once to get stuffed animals for my kids. It worked out well enough, but the time has come to try to do this right instead. Its been 6 months since my last hard pull (except for one lapse for 10% off Home Depot) and I have a large amount of BT that just ended
Date TU/EX/EQ FAKOs and MyFAKO 7/19 -- 674 670 767 -- 662 9/3 -- 723 703 789 -- 722 waiting for removal of AU and paid off BTs to clear (total $200K 85% 80% and 65% utilizations) 9/14 -- 734 707 793 -- 749 waiting for Chase and Citi to report paid in full ($125K total) 9/17 -- 734 726 793 -- 749 Ex picked up a 108K payment 9/19 -- 763 726 809 -- 749 all 3 picked up final payments
Inqs TU-6 Ex-16 Eq- 3 As of Aug 20 only one inq in 6 mo (Ex)
HHI ~ 400K Credit history 40 years via AU, >10 years for my own stuff
Current lines - personal Chase, BoA and AMEX I have 5 cards each all with <$1000 CLs except: Chase 0% until Feb just paid off (I can reBT just after AOR) CL 118K BoA just paid off 0% CL 151K AMEX one I use daily 30K CL, one just paid off 0% CL 45K
Discover 2, total CL 20K Citi/ATT 4 cards unconsolidated Total CL 68K Juniper 2 cards one CL 1K, one 36K CapOne 7K CL USBank 9K CL
Grand Total for personal is about $480K
Biz Chase 50K BoA 10K Advanta 10K using for 0% til Apr
I’m waiting for some large payments to post and them I’m off… I just disputed the last two so it should be about a week
I’ve grouped these cards in the order in which I plan to apply
1 - Rollover 0% I just paid off. BofA is my biggest fish at over 150K available. I don’t really need a card with a new CL, just a new offer -- if I can consolidate. I think I need to apply there first and twice if no instant approval. Plat Plus MC 12/0 (months/fee cap) NEA – 12/30 or this link
Eventually I’d like to acquire a total of $1MM in outstanding 0% BT between me and the wife. Previous high total was $538K.
I wonder if there are too many Chase cards here (miles cards I could do without) especially since I have 5 cards already. I am considering canceling some unused, small CL cards that aren’t too old to avoid the “you have too many cards” denials I have no real business, but that shouldn’t matter much (except maybe AMEX and their FR) I’m not sure I need to apply for the ATT card since I have so many Citi apps here
edit: updated National City card from 6 month offer to 12 month offer from Snuffy's 2nd AOR and reordered the list a little added CardSelection links/bonus info
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First of all, I learned that you can have all 3 CRA's report paid in full balances within 3-4 business days. I did an online dispute with all 3 CRA's on Friday and Wednesday they were all reporting paid in full.
BofA Plat MC - Deferred Approved $10,000 FIA pulled TU BOA pulled EX BofA NEA - Deferred Approved $15,000 but they took $10,000 from my personal line BofA biz - Deferred Approved $15,000 Chase Biz Rebate - Deferred Approved $15,000 Chase (First USA) pulled EX twice Chase pulled TU 5 days later Chase Biz UPS - Deferred Approved $10,000 Consolidated to $160,000 Citi Biz - Deferred Citi Pulled EX twice Approved $15,000 Consolidated to $63,000 Chase personal Plat - Deferred Approved, took CL from Sony Card $17,000 Citi Drivers edge - Deferred Approved $10,000 ATT - Deferred Approved $10,000 AMEX In:LA - Approved $2,000 EX Consolidated to $86,000 National City Lifesrping - Deferred Pulled TU twice Declined National City unbranded - Deferred Declined RBS - Deferred EQ Approved $7,000 Wachovia (phone) - Deferred TU Declined then reprocessed, Approved $10,000 WAMU- Approved $2,500 EX Pulaski - Deferred TU Declined FNBO - Deferred EX Declined(Firstbankcard) UMB - Deferred TU Approved $20,000 Discover Miles - Deferred TU Approved $10,000 Consolidated to $19,000 HSBC Plat Miles - Approved $10,750 EQ HSBC GM card - Approved $4,000 Prinicpal - Deferred Declined Infibank pulled EX Commerce - Deferrred Approved $20,000 not sure who they pulled Vectra - Deferred Zions pulled EX Approved $10,000 PNC Mechanics - Deferred Approved $5,000 Elan pulled EX State Farm - Deferred TU Declined US Bank phone - Deferred EX Approved $8,000 Juniper National Parks - Approved $6,000 Consolidated to $43,100 Juniper Travelocity - Approved $25,000 Then Cancelled Barclay/Juniper pulled TU twice Juniper Biz BankAtlantic - Deferred Approved $10,000 5/3 Biz - deferred Declined (out of area) National City biz - Deferred Approved $50,000 $49K BT immediately by phone Discover Biz Miles - Deferred Approved $10,100 M&T biz - Deferred Approved $15,000 GEMB Canine - Deferred EX Declined, could not verify identity Simmons - Deferred TU They asked for all sorts of income and asset verification. I declined them Wells Fargo (in branch) - Deferred EX Approved $10,000
Non 0% offers Chase BA Miles - Deferred Approved, took $1,000 CL from Sony Card AMEX Starwood biz - Deferred Approved $50,000 BMW Mini - Deferrred Target - Deferred EQ Declined Address didn't match CRA Hooters - Deferred (how embarassing) TU Approved $15,000
Running Totals Declined: 8 New Personal Cards: 20 New Credit: $175,250
New Biz Cards: 9 New Biz Credit: $190,100
BTs UMB $18,000 Nat City Biz $49,000 AMEX $77,200 Juniper $38,500 Chase biz $159,500 RBS $6,200 Discover $17,000 M&T biz $14,500 BoA biz $24,500 Mechanics $4,400 BoA personal $164,000 Citi biz $62,000 Wachovia $8,900 Chase personal $15,000 Chase biz #2 $14,700 Commerce $17,900 Vectra $8,900 BankAtlantic $9,900 USbank $15,500 Discover biz $10,000 HSBC $9,500
New 0% BT So Far -- $745,100
Citi personal (Driver's edge). I think I'll save it, reallocate as needed/possible and start the 0% year sometime later, when I need a little cash flow.
FAKO FICO 9/20 --736 712 806 - 752 -- Pulls 17/29/7 ?myFICO not seeing pulls yet? 9/21 -- 745 712 800 - 752 -- Pulls 12/30/8 reporting new Juniper lines already. Not sure why TU pulls went down, only one fell off the 2 year list 9/25 - 738 712 798 - 757 myFICO went up! (caught up with the large payments) only a few new accounts reporting 10/2 - 741 721 798 - 741 pulls 15/30/9 some new lines reporting 10/15 TrueCredit down, 703 myFICO 10/19 719 673 771 - 714 Ex reporting HELOC $160K and Barclay's $38K BT 10/23 700 679 729 - 686 some more BTs 10/28 707 673 734 - 669 myFICO already hates me and many more BTs have yet to post.
Citi (EQ) National City (TU) and State Farm (EX) all pulled a second time the next day with no new app. Chase pulled 5 days later for the 3rd time.
Message edited by: devildoc on 2007-10-28 15:04:15 CDT
jackcrawfish said:I'm sure you'll top thisguy's recent 1/2 mil AOR.
Strategy seems well thought. Impressive list's....
FYI Wells Fargo wants only those with an existing relationship:
At this time, Wells Fargo is only accepting online credit card applications from customers with an existing Wells Fargo relationship.... Thanks. I didn't know about WF. It's probably not worth opening a bank account just for one BT card.
FYI, Wells Fargo will BT to any checking account via ACH (rapid $$$ if you'd like a good laudry card for accts that won't let you write check to self).
I... I can't can't this is the easiest writeup to understand, but I see where you're going with it, and it looks like it will be good to watch.
1) I predict you're already at your maximum exposure level with BofA and Chase. There's a decent chance if you want to increase the aggregate amount of credit, you're going to need some quality time with an analyst and document some assets and whatnot. But that's okay, because the reallocation game is avaialble.
2) Since Chase is easy with reallocating, and Citibank is easy with reallocating to business cards, then the business apps will take on paramount importance with these two banks. Then you can pretty well disguise a few hundred grand of BT debt.
5) UMB and 53 bank both have limited lending areas. I recommend verifying you're in that area before you apply.
6) Reputationally, FNBO and Pulaski are reputed to be a pain.
7) I recommend applying for the WAMU and HSBC cards, but just for the perverse test to see if you get CLs <$3000.
8) I recommend applying for a BofA business card if you don't have one already. They have often been capping BT fees even though the terms have they're uncapped.
$400k HHI - and you bother with this. I'm amazed. I guess with those kind of credit lines you can earn a pretty decent return. However - way too much time investment and headache for me and I'm not even close to that level on income.
bNeta86 said:$400k HHI - and you bother with this. I'm amazed. I guess with those kind of credit lines you can earn a pretty decent return. However - way too much time investment and headache for me and I'm not even close to that level on income. I made 10% of my income from this "bother" in the last year
I wish I had your discipline as I am unable to stop applying for cards, knowing I will get a hard pull and a denial for too many inquiries in the past six months. But I am making a vow...no more new accounts of any sort for six months. Come February when the last of my $230,000 comes due I will sit patiently and see what happens to my credit scores and seriously consider an AOR, as I too, accumulated my cards and my 0% money haphazardly over the course of a dozen years or so. Good luck!
jackcrawfish said:FYI, Wells Fargo will BT to any checking account via ACH (rapid $$$ if you'd like a good laudry card for accts that won't let you write check to self).
This is very interesting. Could you explain in more detail? Is this a Wells Fargo CC? What is the name of the card? Any links?
DavidScubadiver said:I wish I had your discipline as I am unable to stop applying for cards, knowing I will get a hard pull and a denial for too many inquiries in the past six months. But I am making a vow...no more new accounts of any sort for six months. Come February when the last of my $230,000 comes due I will sit patiently and see what happens to my credit scores and seriously consider an AOR, as I too, accumulated my cards and my 0% money haphazardly over the course of a dozen years or so. Good luck!Maybe we should start CCA (credit cards anonymous). I get preapproval offers in the mail and it hurts me to shread them as I know I'll just get denied.
Onenote said:jackcrawfish said:FYI, Wells Fargo will BT to any checking account via ACH (rapid $$$ if you'd like a good laudry card for accts that won't let you write check to self).
This is very interesting. Could you explain in more detail? Is this a Wells Fargo CC? What is the name of the card? Any links?
Yes its a CC, the visa platinum The link is in OP under "Wells Fargo 6/0" Some BT's are hard to turn into cash -- AMEX, national city and others. A laundry card with fast ACH right into your bank account can be an intermediary for other CCs that only do transfers to other CCs. My best laundry card by far is the BoA. Huge limit, quick ACH. Fees add up though.
I've always called and had the CSR just take my checking account info. It's treated as a BT, so if there's no 0% deal on that card you eat a few days interest. If there's no fee cap on that card, you get killed for 3% each time, so be careful.
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