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
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).
There is a Wells Fargo near me, so maybe I'll just apply in person (try doing that with 30 cards in one day)
markkundinger
Senior Member - 2K
posted: Sep. 14, 2007 @ 3:29p
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!
TideLeonheart said: If you don't care if I ask, what do you do for a living? I do shift work
Onenote
Member
posted: Sep. 16, 2007 @ 12:14p
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?
MikeR397
Senior Member - 3K
posted: Sep. 16, 2007 @ 12:49p
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.
Onenote
Member
posted: Sep. 17, 2007 @ 5:02p
devildoc said: My best laundry card by far is the BoA. Huge limit, quick ACH. Fees add up though.
Thanks for the info.
Another question, though (Sorry, I'm a newbie at this).
So, to use this, BofA will deposit money into my account and treats it as a charge on the CC, then I BT this charge to one of the 0% cards?
Do you have to call them to request this, or is there a link on their website?
Onenote
Member
posted: Sep. 17, 2007 @ 5:11p
Onenote said: Do you have to call them to request this, or is there a link on their website?
I mean, call BofA to request a deposit to my bank account from the CC.
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.
It may not be a great start, but it's a good one nonetheless: no denials, 2 HSBC cards. IN:LA came with a lowish limit, but AMEX CLI is still on crack. WaMu CL is to be expected unless you were pre-approved. You've got $25K CL from juniper on a single card ...this is not bad at all!
devildoc said: 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.Thanks again for the data point. WOW awesome. perhaps I'll try this after increasing lines via soft inquiries prior to my AOR 2.0....you know... to get the higher lines to report sooner...
jackcrawfish said: devildoc said: 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.Thanks again for the data point. WOW awesome. perhaps I'll try this after increasing lines via soft inquiries prior to my AOR 2.0....you know... to get the higher lines to report sooner...
I understand why you want to do that, but ...
1 - I was able to dispute only because they CRA's had large balances reporting on those lines and I had just paid them off. 2 - This is just my initial experience, but having large lines (with no balances) did NOT help me.
markkundinger
Senior Member - 2K
posted: Sep. 19, 2007 @ 6:41p
Wow, reasonable limits from HSBC, congrats... and it looks like you also continued the streak of wamu giving out crappy credit lines to unsolicited apps.
Should have a shot at an immediate CLI or reallocation with the Juniper cards.
Don't forget the usual disclaimer, the vast majority of approvals on an AOR are not instant.
FWIW I just got a denial letter from AMEX today for a CLI request I put in for an old card online several days ago. "Your income is insufficient for any additional credit lines or increases due to the amount of existing lines open with AMEX" And the same day I get the letter, they approve me for a new In:LA card. Go figure.
If Approved....added bit of info... disregard if N/A or not that important...
I've delayed the clock from starting by requesting a change to my due date and made random payments...
My story:
PRINCIPAL 1-877-875-8078 LINE=14,000 BT$=9600 Util%=69% ________ = 08/05 Req $9,600 to CITI Div Plat Select ________ = 08-06 $9,600 posts to Principal card ________ = 08-06 AMOCO OIL 06615108 4.15 ________ = 08-08 PAYMENT - THANK YOU ($4.15) ________ = 08-15 12:12PM CST ... I requested online a "statement date" for the 5th trying for a due date of the 30th. Response was: per your request your new due date will be anywhere from the 6th - 9th of the month ________ = 08-20 1:54PM CST ... I RE-requested online a "DUE date" for the 30th because my original request was not understood. Response was: per your request, your new due date will be anywhere from the 31st ? 3rd of the month ________ = 08-21 PAYMENT - THANK YOU ($10.00) ________ = 09-07 PAYMENT - THANK YOU ($200.00) ________ = 09-17 PAYMENT - THANK YOU ($100.00) ________ = 09-21 CALLED IN ASKING FOR STATEMENT DATE!???! "WHEN DO I NEED TO PAY YOU?"
BTW, my credit reports still do not reflect this card as opened....
Got an email from Discover to call and "confirm" some information Called, no problem, 10K limit. I asked why I had to call. First she said since it was an internet application. I questioned that (gently) and she then said it was due to having another Discover card already. I didn't push it. Asked to consolidate (one other card with 16K limit) CSR said she could give me 19K by closing the other card. I have to fax in paystub to get any higher limit. Maybe later.
Got a call from Elan about M&T biz and PNC Mechanics personal card CSR / Underwriter said my credit report showed a lot of recent applications, she wanted to know why I applied for so many cards. I said I saw some good offers, have a busy schedule and wanted to get them all done when I had some free time. Spur of the moment BS, but it worked, both cards approved, unknown CL.
devildoc said: Got a call from Elan about M&T biz and PNC Mechanics personal card CSR / Underwriter said my credit report showed a lot of recent applications, she wanted to know why I applied for so many cards. I said I saw some good offers, have a busy schedule and wanted to get them all done when I had some free time. Spur of the moment BS, but it worked, both cards approved, unknown CL.
Man, excellent on the spot thinking! (should we start a thread with best answers to typical AOR-related questions by issuers?) If you're not happy with CL you get from them, you may want to ask for a CLI when calling to activate the card. They may just do it without an extra inquiry (I think many banks are ok to use the CR on hand, provided it's less than 30 days old) .. it worked for me.
Just got off the phone with National City Biz They wanted a signature, faxed it in, called back to check on it. CSR approved it over the phone, I had asked for $50K CL on the original app. She scanned my credit report, said "well, you have excellent credit. Sure, why not. I'll give you 50" Did my 0% 6month no fee BT on the phone before they even sent out the card. Of note, she was not willing to share my credit score with me, I did ask.
Got a couple of denials in the mail today, updated QS Reallocated AMEX CLs online, now to figure out the best way to get cash out of AMEX
Wells Fargo approved me, but BT offer is 3.9% not 0%. The T&Cs do say the rate "could be as low as 0%" based on credit report. Oh well, could be a laundry card or just for overall utilization.
DjPiLL
Senior Member - 2K
posted: Sep. 24, 2007 @ 8:40p
devildoc said: Got a couple of denials in the mail today, updated QS Reallocated AMEX CLs online, now to figure out the best way to get cash out of AMEX
Wells Fargo approved me, but BT offer is 3.9% not 0%. The T&Cs do say the rate "could be as low as 0%" based on credit report. Oh well, could be a laundry card or just for overall utilization.
I had to do a Wells Fargo application over the phone with a representative from the local branch. She called me back 15 mins later with a 6k approval on the 0% BT CC card. She also said I was approved for an 8500 line of credit account. I tried to consolidate that into the credit card but they couldn't do it. Since I was already approved for it, I said OK to the LOC account as well. Can't hurt for overall utilization.
But yeah since I didn't have any Wells Fargo bank accounts... they referred me to the local branch which is "Wells Fargo Financial" or something along those lines.
I have to go to the branch tomorrow to sign the papers to get the card.
Got some approvals over the past 2 days, couple of denials. Made some BT moves already, waiting for consolidation and new cards to appear, but mostly waiting for Chase and BoA to make up their minds. QS updated.
I got tired of waiting, so I called BOA, 800-932-2775, got through to a credit ninja and quickly had all $171K moved to a new Plat MC, no fee 12month BT. Got it sent right to checking before the card even gets mailed out to me. The ninja appologized that she could not get any new credit line without a referral to "the large loan department" requiring lots of documentation. Looks like I've maxed out at most banks now. If I were them, I wouldn't give me any more either. So long as I can roll it around, the current CLs will do nicely.
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