verruckterBaum said:SecondCor521 was told several times in the his last AOR not to apply for multiple Discover cards. He states that that he was turned down for too many Discover applications.

Yet here he is doing it again. I guess I just don't see the point. I especially don't understand the point of making them #6 and #7. So the next 49 credit card applications will have an unnecessary inquiry showing when applying.

I think people are fooling themselves if they think inquiries aren't instant. Just because you complete all your apps in 1 hour doesn't make them not visible. New accounts and new debt are definitely hidden but inquiries are not.

verrukterBaum,

Thank you for the reply.

You're right, I have a hard time culling my list, and as of yet I haven't done a proper job of that. I was honestly hoping for some help in that regard, and I have gotten some good feedback from you and others on this thread that I'll use.

As I explained before, I think new inquiries are overrated. This is because, as I have watched my A0R 1.0 balances being paid off and my TU inquiries being bumped off, my credit score would jump by dozens of points when the balances drop off, but only by two or three points when the inquiries dropped off.

As for why the Discover apps are #6 and #7 on my list: I have an Excel spreadsheet that takes into account the length of the BT offer in months, the BT fee (if any), the bonus (if any) multiplied by my guess as to the probability of whether I'll get it or not. I also handicapped a few cards if I thought I might get a low CL from them based on others' A0Rs here. This resulted in a "profitability score" for each card. In the case of these apps, they are 13 months instead of 12, they have a nice CS bonus, and a capped BT offer of $75. If I handicapped the CL they would probably drop quite a bit. Maybe I should do that.

Oh, if you want to think I am bull-headed and arrogant, that wouldn't bother me a bit.

Thanks for the good feedback,

2Cor521

PolarDude said:Maybe others can concur, but I got a denial for more than 1 Citibusiness cards in 1 AOR. Chase seems hit or miss on multiple approvals, but Venturions AOR looks like potential. I've seen someone get 9 BofA/Fia cards in 1 aggresive AOR, but ended up getting ALL their accounts closed a few months after pulling ~200k from them. OP has a few Citi / Chase cards already, I can't remember if there's a hard limit or not. Is your biz going to have a web presence? Duns is super slow in giving the free duns, you might not see it until April, and I don't know if it makes a difference unless you have tradelines showing, but it should get you an Experian biz profile, but after several weeks of being in Duns. One thing I might mention, is I tend to like doing each bank all at once, and not skipping back in forth, reasoning you don't want the last Citi/bofa/chase app to see you lots more inquiries when your first app only showed so many. If they keep each app completely separate, then it's more doable, but I'd be interested to hear how others have fared when that many apps in between one bank (Citi AMEX at the very bottom, with them also being on top) Some may even pull the next day, or hours later depending on when you do this. I can't wait to see it, and love all the details. I kinda wish there were more issuers though (Where's GE Money?) As for discover, I think 1 personal and 1 biz is OK, but there may be a cap on cards/exposure. He may get small lines with issuers he has alot of credit already, and I think it's too aggresive for me, and would add in more issuers instead.

PolarDude,

This is the kind of thing that makes me want to keep cards in my list...everyone seems to have different experiences with Citi, Chase, and BofA.

The business doesn't have a web presence. It's a local affair.

I already got my DUNS number in email a few days after applying. I don't know if my business trade lines appear on my business CRs.

I've made a note about grouping and have done some; I may do some more of that.

GEMB I didn't put on the list for some reason, can't remember what it was, though.

Thanks for the feedback,

2Cor521

xxjt said:I thought chase limits 1 account bonus per year - are you opening accounts for 4 different people?

As I alluded to in a previous reply, I am going to try to open accounts for me and my three children. I honestly doubt it will work.

2Cor521

SecondCor521 said:DaveHanson said:Great job on a beautifully laid out OP, SecondCor521.

As we've discussed, I'd be less ambitious. Your excellent profile will minimize AA, but will not eliminate it if you actually go through with 50+ apps. You've gotten great advice so far...I agree with pretty much evenything Mark says.

You especially don't want AMEX to cut or close your TE card, as it is by far you largest reporting personal limit.

Best of luck. Yours will be a very interesting one to follow.

I will probably back off on some of the apps -- I'd like to get it down in the 40 card range but I don't know if I will have the decisive character that would take.

2Cor521 The much wiser long-term course for you to take would be to follow the advice you've been given on dramatically curtailing the number of applications. Dropping from 56 to 40 is not a legitimate reduction; that's like a fat guy dropping from the whole pie to just 5 slices! Take Dave Hanson's sage advice, and please don't fool yourself into thinking that the CC companies won't follow one A/A after another like friggin' dominoes. It could happen.

I understand wanting to go over the top and be aggressive and all that, but your 56 applications aren't likely to net you anything beyond what you could get with half (possibly a third) that amount. The reason: you're hitting up the same lenders again and again. You'll definitely run into "too many applications" without increasing your net CL. As you are a credit card gaming veteran, you've already got quite a bit of CL with the major issuers, so you're likely to hit your max total exposure very quickly. Worst case - they're all approved, and you completely trash the average age of your accounts.

Be smarter. Favor biz cards over personal. Apply for a couple of cards with each issuer and ask for CLIs. Show docs if necessary.

Adverse action aside, the name of the game is profit, and your strategy is not geared for maximum profit - especially in the long term, and I would argue not even in the short term.

BTW, I'd be happy to go into more details about what I think you should do with each issuer. Regardless, I've got my popcorn ready. Should be quite a show.

lhendricks92 said:I understand wanting to go over the top and be aggressive and all that, but your 56 applications aren't likely to net you anything beyond what you could get with half (possibly a third) that amount. The reason: you're hitting up the same lenders again and again. You'll definitely run into "too many applications" without increasing your net CL. As you are a credit card gaming veteran, you've already got quite a bit of CL with the major issuers, so you're likely to hit your max total exposure very quickly. Worst case - they're all approved, and you completely trash the average age of your accounts.

Be smarter. Favor biz cards over personal. Apply for a couple of cards with each issuer and ask for CLIs. Show docs if necessary.

Adverse action aside, the name of the game is profit, and your strategy is not geared for maximum profit - especially in the long term, and I would argue not even in the short term.

BTW, I'd be happy to go into more details about what I think you should do with each issuer. Regardless, I've got my popcorn ready. Should be quite a show.
I very much concur with lhendricks92 here. And even though your original A0R was successful, that was when you had far fewer cards; now you have a boatload that are only a year old. You want to avoid too much scrutiny of your applications, otherwise a reasonable analyst would disapprove them and possibly take further action.

elleve said:SecondCor521 said:dealornodeal said:i am lost, why some of your bank bonuses got multiplied by 4?

Sorry, I didn't explain that part very well. I have three children, and I think they all need checking and savings accounts. The fact that they are minors and don't have driver's licenses might throw a wrench into that plan. Although I have reason to believe that my eldest has somehow ended up with a credit file already as he has been getting junk mail offers to refinance his mortgage at my address.

2Cor521


"Learners Permits", "state IDs", are useable for opening online banks.

If your children don't have either, try ingdirect. If I recall correctly, ing didn't require an ID during registration.


Also, great list, very ambitious. If you really want to push it to the limit, I would suggest more business apps as those stay off your report. Remember to B* after your app spree.

elleve,

Thanks. The best each of my kids can do is a library card ;-P

Any specific suggestions for business cards? I've wanted to lean that direction but only found a limited set, most of which are in my list already. I don't have the exact count but I think about 10 or so of the 56 are biz apps.

And, yes, I will B*.

2Cor521

Well i'm here, I didn't get the alert for a new AOR thread, damn i've missed alot.

2ndcore

I guess no pics of the sister huh? LMAO

Your list is so big I can't go thru it all, but i'll add what i've been thinking for my next AOR.

Brian did 15 chase apps and got nothing (good try), but venturion got 7 new chase accounts so far. So on the outside chance that Venturion found the RIGHT chase cards and the RIGHT order of application. I would copy all his chase apps, no sense in
re-inventing the wheel. If my theory is right about the different divisions in chase, then I think Venturion has hit the right ones. He also only got a few INQs from chase, so he did something right.

Triple play huh? To bad you can't freeze, i'd sure like to see you with 10 LLCs. But heck maybe a million is enough.

In 1 of your last posts you said, "the list has 10 biz cards". Is that all? So there is 46 personal apps, Jericon's A/A was explained to be because of 20 new accounts within 12 months. PolarDude did many more apps but only got about as much new credit as others with 30 or 40 apps.

Everyone on creditboards knows about the CITI Trifect, thats 3 CITI biz cards at once. So I don't know why we think there is a 2 biz app limit. It might be because they have biz credit reports and some of us don't. No real way to know, other than trying.

Over all 2ndcore, I'm impressed! Your plan looks very well laid out and you seem to feel the same way as I do about A/A. You also seem to be willing to except some A/A, I don't really see the big deal if WE lose some accounts.

Thats about all I can add, I have the popcorn ready.

Can't wait!

EDIT:
The banks aren't checking DL #s on apps, just make up a number that matches your state. They ask for that, so when you make a withdrawal and they check your ID they have a number to match with. I don't see your kids going to the bank, RIGHT?

Banks can search for DL numbers in the state databases...and I have had to provide copies of my DL on a few bank sign-ups so I dont know how you would think making up a number would work???

I have been conservative with the AMEX-in cards and stayed less than 50% and only bt 10-12k and applied for new cards with them twice and no problems...

I have read a few close advanta and reapply and got lesser card limits, so YMWV...

SecondCor521 said:

elleve,

Thanks. The best each of my kids can do is a library card ;-P

Any specific suggestions for business cards? I've wanted to lean that direction but only found a limited set, most of which are in my list already. I don't have the exact count but I think about 10 or so of the 56 are biz apps.

And, yes, I will B*.

2Cor521


You can get multiples of the same business cc. I believe it was Venturion that first discovered this. I figure since you're going to tank your credit report with lots of inquiries and B*, might as well hit up a few more business CCS.

win333 said:The banks aren't checking DL #s on apps, just make up a number that matches your state. They ask for that, so when you make a withdrawal and they check your ID they have a number to match with. I don't see your kids going to the bank, RIGHT?

Actually, some check, and some don't.

Example of banks that check to see if your ID is valid / yours (off the top of my head, shorebank, bancofortuna, hsbc)

Some that ask for your ID, but don't check (citibank, boa, gmac)