It may be diluted but the datapoint that you can reallocate biz to personal is a huge one.

I for one will NOT be waiting two months to reapply after closing a biz. 2-3 weeks most likely.

markkundinger said:jackcrawfish said:(a) I closed my existing Bank Atlantic card this morning while carrying 14k still at 0%. (I should have done this a few days ago - I should have paid it off too)
(b) I reallocated $15k to personal side as a datapoint (hoping to get the rest to personal after balance gets paid).
(c) I applied for a new Bank Atlantic card (I admit I was planning on approval - I'm a bit surprised).Oh man, now our scientific data point is horribly polluted.

We don't know if your bankatlantic denial was because you already had a bankatlantic card of any sort, because of your aggregate business lines, or because of your aggregate total lines. Not to mention the $14k balance you were carrying.I realize the water is muddied but hopefully I can still get-er-done...

(a) 9:00AM paid off remaining balance on closed Bank Atlantic card via voice response unit(VRU). (interestingly, my original line was 29K... moved $15k to personal new line should have been $14k but via the VRU my total line was $16,500)
(b) 9:10AM called 866-408-4064. After asking for the status of my new Bank Atlantic application, Credit rep offered to move credit line from my personal account in order to open the new business account. $15k "reallocated" in order to open new biz card. (thanks again lhendricks92). I asked if "credit line from my old closed Bank Atlantic card could be moved over to the new on also?" Rep said no but I suspect she doesn't know business card specialists possibly could do it.
(c) 9:15AM logged in to view personal card account and saw the credit line had been reduced by the $15,000!!! yipeeee!
(d) 9:20AM called 866-408-4064. Asked different rep to move recently closed Business card credit line to active personal card credit line. Rather than giving him my SSN, I gave him the actual 2 credit card numbers. He said I could call back within 24 hours to confirm the movement. I didn't even specify an amount - I presume all of the closed business card line will be submitted for movement to personal card (see OP).

So since he managed to get a new BIZ card opened... I think it's safe to say that the credit ninja that originally stated that you must wait 60 days between closing and applying was misinformed?

good point. do you think matters if your new business app is Bank ATL or generic?

I had to call USBank again today regarding my pre-AOR application that pulled both EQ (initial) and then later a TU report (verifications department). I plan to BT to checking once it finally gets approved.

ME:"I have been told for 4 days to call back within 24-48 hours to see whether it has been approved. What is taking so long? You received my faxed address information didn't you?"
(I was transferred first to the verifications department. Then the verifications rep transferred me to her supervisor.)

SUPER:"Mr Jackcrawfish, have you applied for credit recently using your address 123 main street?"

ME:"My wife did a few weeks ago. She has only been an authorized user on one of my accounts for the past 12 years so she did apply for some ( )cards in July. Do her inquiries cause a problem for my application for credit with US Bank?"

SUPER:"No. To be more specific, it's not the number of inquiries which concern us as we do have your credit report on file"

ME: (trying to sound helpful) "Back in May, I think, I applied for a credit line increase with a Citi credit account(OK - 4 cards)"

SUPER:"Is 123 Main Street your home address? And you don't use it for any business operation or anything like that?"

ME: "No. I don't. What's wrong? I don't understand why it's taking so long. I thought you verified my address with the faxed information from last week (8/11/2008)?"

SUPER:"It's not so much the number of inquiries that is of concern, rather the volume of recent applications being generated from your address. Usually, VISA/MC has between 0 and 10 applications reported from a xyz address - your address was well over 100"

ME: (now concerned about fraud)"I assure you that 123 main street is my address but now I'm concerned about fraud - What can I do? Do I contact VISA/MC?"****

SUPER:"We will continue to work with TransUnion (note she didn't say VISA/MC) to investigate further"

****so which one of you discovered my address and is applying for credit?

I am getting ready to pull the trigger on an A0R myself, but I have one quick question for all you A0R veterans. When is it the best time to submit the apps? I assumed early in the morning before 8 AM EST or anytime during the morning will do?

dbreaker said:I am getting ready to pull the trigger on an A0R myself, but I have one quick question for all you A0R veterans. When is it the best time to submit the apps? I assumed early in the morning before 8 AM EST or anytime during the morning will do?IMO, anytime is fine.... as you can see from my varied bureau pull dates, some issuers like Iberia (Pulaski) and Peoples CC (RBS) often pull 1-3 days following the actual application date....

Couple data points:
1. My Bank Atlantic biz app got deferred they are sending me a letter for more info. My TU and Ex are frozen seems they wont pull EQ.
2. US bank is only allowing 1 biz, 1 personal account.They seem to have really tghtened up. This is for MA residents, if your TU and EX are frozen US Bank will not pull EQ.
Jack you are correct it seems US abnk is using a CRA to check on your total visa/mc applications in a certain time frame.
Jack good luck with the apps.

althes said:... if your TU and EX are frozen US Bank will not pull EQ.you may already have read Win333's experienceJack you are correct it seems US abnk is using a CRA to check on your total visa/mc applications in a certain time frameSorry to be ignorant but I had to look up and verify my understanding of CRA. I thought it meant consumer reporting agency (i.e., TU, EQ and/or EX). Are you referring to Credit Rating Agency such as AM Best, Moody's, Fitch, etc? (marginally confused)

lhendricks92 said:ICS is a CRA that tracks every application for all time. Kiss credit games goodbye if every FI starts checking ICS reports.Once again, lhendricks92 (and EugeneV for that matter)..... Thanks so much for your datapoints and research (I really thought I was prepared - I am humbled)....

From http://www.visaicsdirect.com/faq.html....

ICS stands for Issuers' Clearinghouse Service. The Visa U.S.A. Operating Regulations require Issuers to submit information on all consumer credit card applications to ICS. The service was developed at the request of Visa Issuing Members to help reduce card losses on applications. ICS ... is subject to the federal Fair Credit Reporting Act (FCRA). It is a nationwide database that contains bankruptcy, and bankcard application activity, fraud, and questionable data information.

Good Thread and another good one to learn about ICS...

Someone should start a dedicated thread for ICS information ... (Win333, EugeneV, TolmapS, Swishyx, CardJuggler, et al)

edit: dedicated ICS thread