I am almost ready for my first AOR. I did WOR 1.0 in Apr 08 and It was very successful, I was able to BT about 200K. I thought I should take feedback from FWF community.
Goal: 1. BT @ 0% and put it in CD / rewards acct / saving acct. 2. Earn TYP / mileage / cash 3. Need new card for daily use (Citi AMEX) and booking airline tickets (Citi Premier Elite).
Card # Issuer Status Comment Card Name Type Offer Fee 1 Advanta Decined too many inq. Plat Biz B 15 Mths 3%/$90 Link to app 2 AMEX_ Deferred / need business verification AMEX Starwood Business B 10K SWP Link to App 3 AMEX_ Approved ??? Gold B 25K BRP Link to app 4 AMEX_ Approved ??? Starwood Preferred Guest P 10K SWP Link to App 5 BOA Approved 8000 will consolidate with existing 2 BOA card will nove 11k from each card Ex NEA WorldPoints Visa P 12Mths 0/$30 Link to App 6 BOA did not apply Platinum Plus P 12Mths 0 Link to App 7 Chase deferred Business Cash Rewards Card B 12Mths 3%/$99 $35 CS Link to App 8 Chase deferred Flexible Platinum master card P 12Mths 3%/$75 $25 CS Link to App 9 Chase did not apply Chase Platinum Visa® P 12Mths 3%/$75 $25 CS Link to App 10 Chase did not apply Continental P 21k $50 first credit Link to App 11 Citi declined / called for revision Business® Card with TYP B 12 Mths 0 15000 TYP Link to App 12 Citi declined too many inq. Citi PremierPass Elite P 25000 TYP Link to app 13 Citi declined / approved 25000 Citi Associated Bank P 12 Mths 0 Link to app 14 Citi declined too many inq. Platinum AMEX Card P 15000 TYP Link to App 15 Citi declined / approved ??? ProfessionalSM Card B 12 Mths 0 15000 TYP Link to app 16 Citi did not apply Upromise P 12 Mths 0 Link to app 17 Discover approved 15000k received call from discover and opened business card but still same overall limit Open Road Card P 12 Mths 3%/$75 $40 CS Link to app 18 Discover initially did not apply / apply over phone no benefit Biz B $100 after first transaction Link to app 19 Juniper declined / call many time to talk with credit department, line got disconnected Bank Atlantic Rewards Bus. B 15 Mths 3%/%75 Link to app 20 Juniper declined iFly P 12 Mths 3%/50 $15 after first transaction Link to app 21 Natl City deferred Lifespring Visa P 12 Mths 0 Link to app 22 Natl City did not apply Visa® Business Card B 6 Mths Link to app / 1-800-622-4036 x67291 23 US Bank deferred NWA P 20000 Worldperk miles Link to app 24 US Bank deferred / called for verification Baylor Alumni P 12 Mths no BT fee at time of application Link to app 25 Wachovia deferred / approved Personal Credit Card P 12 Mths 3%/$75 Link to app 26 Fifth Third did not apply Business MasterCard B 12 Mths 0 Link to app
Open Citi Bank Acct 16k TYP - even this acct deferred,can not believe it Provident rewards acct - may not need it Change auto insurance - no benefit still with Geico
After markkundinger's feedback, I am thinking to drop the following apps from list Phase 1: (90-95%) 9 Chase Chase Platinum Visa® 16 Citi Upromise 24 Natl City Visa® Business Card B 6 Mths.
Phase 2: (75%) 5 BOA NEA WorldPoints Visa P 13. Citi Citi Associated Bank P 12 Mths 18 Discover Biz B $100 1 Advanta Plat Biz B
Questions: 1. I am thinking to drop Citi uPromise card from list, besides it I have 4 citi cards? 2. in current credit situation, am I inviting AA by applying for about 27-28 cards? 3. I am thinking to use my name and SSN for business application, will it be alright? 4. I am using business creditSecure for monitoring, how it is? 5. any suggestion / comments on card / app link?
You're planning your AOR a year from now? That is some serious forward thinking.
jay140
New Member
posted: Jul. 2, 2008 @ 2:59p
Thanks for correcting me. I am planning to do it on 07/07/08.
markkundinger
Senior Member - 2K
posted: Jul. 2, 2008 @ 4:57p
How recent are those inquiries? 1 year? 6 months? Were any for car or house purchase? The count may hold you back.
The standard max personal citibank cards you can get at once is two. Business cards and professional cards don't count. Associated Bank might not count. I would still recommend dropping the upromise, and probably the Associated bank app as well.
With Chase, the goal is going to be to get the business card, then reallocate credit to it. Therefore, a BT on a personal card isn't that compelling. Therefore, the generic Chase Platinum app may not be necessary.
You need to be in 53 bank's lending area to get a card. I don't know what that area is.
Advanta has a higher than normal chance of granting a small credit limit.
There's a decent chance of AA from multiple lenders doing an AOR these days.
Wachovia will probably deny you, especially after a lot of inquiries.
markkundinger said: There's a decent chance of AA from multiple lenders doing an AOR these days.
I would personally drop it down to 10 of your favorites, OP...
jay140
New Member
posted: Jul. 3, 2008 @ 8:56a
markkundinger said: How recent are those inquiries? 1 year? 6 months? Were any for car or house purchase? The count may hold you back.
The standard max personal citibank cards you can get at once is two. Business cards and professional cards don't count. Associated Bank might not count. I would still recommend dropping the upromise, and probably the Associated bank app as well.
With Chase, the goal is going to be to get the business card, then reallocate credit to it. Therefore, a BT on a personal card isn't that compelling. Therefore, the generic Chase Platinum app may not be necessary.
You need to be in 53 bank's lending area to get a card. I don't know what that area is.
Advanta has a higher than normal chance of granting a small credit limit.
There's a decent chance of AA from multiple lenders doing an AOR these days.
Wachovia will probably deny you, especially after a lot of inquiries.
Most of the inquiries are less than 1 year old. I bought home last year 07/07. After that I did refinance 3 times. HSBC NV 04/2008 Equifax T-Mobile 03/2008 TransUnion CONSOLDTED 03/2008 Equifax CIS INC 03/2008 Experian CIS INC 03/2008 TransUnion HSBC NV 12/2007 Equifax BANK OF AMERICA 12/2007 Experian ABN AMRO 12/2007 Equifax STANDARD FEDL BK/FHLMC 12/2007 Experian ABN AMRO MTG 12/2007 TransUnion HSBC BANK 11/2007 Equifax TB&W MTG 10/2007 Equifax TAYLOR BEAN FHLMC 10/2007 Experian TAYLOR, BEAN 10/2007 TransUnion CONSOLDTED 10/2007 Equifax CIS INC 10/2007 Experian CIS INC 10/2007 TransUnion PRES SAV 08/2007 Equifax BK OF AMER 06/2007 Equifax BANK OF AMERICA 06/2007 Experian BK OF AMER 06/2007 TransUnion RELS CRDT 06/2007 Equifax RELS REPORTING SERVICE 06/2007 Experian RELSCREDIT 06/2007 TransUnion BANK OF AMERICA 06/2007 Experian MORTG SVCS 06/2007 Equifax CBA/MORTGAGE SERVICES/ 06/02007 Experian MORTGAGE SVC 06/2007 TransUnion T-Mobile 04/2007 TransUnion CITI 07/2006 Equifax BANK OF AMERICA 06/2006 Experian BANK OF AMERICA 06/2006 Experian
Right now I am thinking to drop the following apps from list. Phase 1: (90-95%) 5 BOA NEA WorldPoints Visa P 9 Chase Chase Platinum Visa® 16 Citi Upromise 24 Natl City Visa® Business Card B 6 Mths.
Phase 2: (75%) 13. Citi Citi Associated Bank P 12 Mths 18 Discover Biz B $100 1 Advanta Plat Biz B
I am not sure about Wachovia, as I have their targeted offer as well. 27 Wachovia Personal Credit Card P 12 Mths
jay140
New Member
posted: Jul. 3, 2008 @ 8:58a
maddybeagle said: markkundinger said: There's a decent chance of AA from multiple lenders doing an AOR these days.
I would personally drop it down to 10 of your favorites, OP... I personally feel that is too much defensive approach. I am thinking of 7-8 biz and 10-12 personal apps.
markkundinger
Senior Member - 2K
posted: Jul. 3, 2008 @ 1:31p
The mortgage inquiries done in within 30 days should theoretically be lumped together by FICO, so hopefully it wont lead to denials due to 'excessive inquiries'.
I didn't know the Wachovia offer was targeted. I'd go for it, then.
dg09
Member
posted: Jul. 3, 2008 @ 10:40p
markkundinger said: The mortgage inquiries done in within 30 days should theoretically be lumped together by FICO, so hopefully it wont lead to denials due to 'excessive inquiries'.
I didn't know the Wachovia offer was targeted. I'd go for it, then.
hoping same.
jay140
New Member
posted: Jul. 7, 2008 @ 8:40a
Changing AOR date to 07/09. fine tunning Roboform for AOR.
jay140 in his OP said: After markkundinger's feedback, I am thinking to drop the following apps from list Phase 1: (90-95%) 5 BOA NEA WorldPoints Visa P 9 Chase Chase Platinum Visa® 16 Citi Upromise 24 Natl City Visa® Business Card B 6 Mths.
I checked and did not find Mark suggesting dropping BOA NEA card. Of all BOA cards this is probably the one you want to keep.
dl73
Senior Member
posted: Jul. 7, 2008 @ 8:33p
markkundinger said: The mortgage inquiries done in within 30 days should theoretically be lumped together by FICO, so hopefully it wont lead to denials due to 'excessive inquiries'.
FWIW I applied for a Citibusiness card and got denied with an explanation of 'too many inquiries' in the last 6 months. I had 6 inquiries, but 4 of those were mortgage related (with 3 of the mortgage inquiries within 30 days of each other). I called them a couple times and explained I was "mortgage shopping" but was told their qualification criteria does not even distinguish mortgage inquiries from any other inquiries, and the number of inquiries is all they looked at.
markkundinger
Senior Member - 2K
posted: Jul. 7, 2008 @ 9:11p
That's the worry about inquiries. They may not affect your FICO, but they may still scare off wary lenders.
For the record, I don't think I had an opinion of BofA previously. You should apply for at least one card from them. The generic platinum plus has the advantage of no BT fee, the disadvantage of a max CL of $15k (which may not be a practical concern). The reason to do two BofA apps would be to either hopefully get higher aggregate credit limit (I judge slightly unlikely) or to increase the chances of at least one approval. I would tentatively recommend just one of those apps, if you're trying to be modest at all with the AOR. (but I applied for three at once last year, so I'm a hypocrite)
jay140
New Member
posted: Jul. 8, 2008 @ 11:59a
cyberkost said: jay140 in his OP said: After markkundinger's feedback, I am thinking to drop the following apps from list Phase 1: (90-95%) 5 BOA NEA WorldPoints Visa P 9 Chase Chase Platinum Visa® 16 Citi Upromise 24 Natl City Visa® Business Card B 6 Mths.
I checked and did not find Mark suggesting dropping BOA NEA card. Of all BOA cards this is probably the one you want to keep. He did not suggested to drop NEA app but he mentioned about AA. I dropped NEA app to avoid AA. Thanks for your input. Now I feel I should not drop NEA.
If more 0% money with BoA is what you are going after, simply use their CLI on crack (preferably, before you perform any applications, or next best after applying with them but before initiating any BTs with them or having any other new accounts or balances reporting.) If needbe, call their customer service number and have all but a token amount of your credit limits reallocated to your (one, single) 0% BT card.
That is, unless having one more hard inquiry, one more reporting new "unseasoned" account, lower average account age and lower average credit limit reporting, and one more payment to need to manage each month for the next year doesn't bother you.
RudolfSchmidt
Cranky Member
posted: Jul. 10, 2008 @ 6:04p
dl73 said: FWIW I applied for a Citibusiness card and got denied with an explanation of 'too many inquiries' in the last 6 months. I had 6 inquiries, but 4 of those were mortgage related (with 3 of the mortgage inquiries within 30 days of each other). I called them a couple times and explained I was "mortgage shopping" but was told their qualification criteria does not even distinguish mortgage inquiries from any other inquiries, and the number of inquiries is all they looked at.
This worries me, although I can't say exactly why. I've always known that the number of inquiries was a factor, but I didn't think it was the only one. Did you have high utilization at the time? What were your credit scores?
dl73
Senior Member
posted: Jul. 10, 2008 @ 9:54p
RudolfSchmidt said: dl73 said: FWIW I applied for a Citibusiness card and got denied with an explanation of 'too many inquiries' in the last 6 months. I had 6 inquiries, but 4 of those were mortgage related (with 3 of the mortgage inquiries within 30 days of each other). I called them a couple times and explained I was "mortgage shopping" but was told their qualification criteria does not even distinguish mortgage inquiries from any other inquiries, and the number of inquiries is all they looked at.
This worries me, although I can't say exactly why. I've always known that the number of inquiries was a factor, but I didn't think it was the only one. Did you have high utilization at the time? What were your credit scores?
FICOs at 780+ and almost 0 utilization on the personal side. Note that a few months prior I had just paid off $40k on a previous citi biz card just before the 0% expired. I wouldn't be surprised if they were looking for a reason not to give me a card with the money they keep losing on me.
I see you are planning 6 citi cards -- so I don't know if you need to apply for more. Here's a semi-interesting offer if you are willing to try another app with Citi:
Thanks for the update, and sorry it didn't go so well. I agree the numerous declines are likely from too many recent (< 6 month, < 12 month) inquiries, and you also mentioned that you bought & refinanced your mortgage three times in the last year? Surely all those new "unseasoned" tradelines reporting on your credit report aren't helping things either.
At least you should be able to muster a decent CL for 0% BT with BOA after reallocating... assuming they don't do any A/A. I don't think I'd do any further applications or soft pull CLI requests at this time.
markkundinger said: The mortgage inquiries done in within 30 days should theoretically be lumped together by FICO, so hopefully it wont lead to denials due to 'excessive inquiries'.
FYI - one of the conclusions I came to from performing some credit scoring tests, was that you can not depend on the scoring algorithm to properly group inquiries together by type. (I'm sure some algorithms do group them, but others don't, and you also can't depend on the inquiries having proper "type" coding.) In the case of TC FAKO scores, they weigh each inquiry by 2 or 3 points and do not apparently group inquiries together.
markkundinger said: ...Wachovia will probably deny you, especially after a lot of inquiries....I was pleased to read you were approved. markkundinger and others are usually very reliable for what to expect (as with everything - YMMV) so the approval was nice to see.
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