Glitch is tired of waiting - 2.0 in progress - still able to avoid unfreezing EXP

Its time to get started on round two. I may be shooting my wad a bit prematurely, as my last A0R was last October, but all inquiries are bumped, EXP is frozen (so getting approvals may take some time if I have to unfreeze it for anyone) and no inquiries will fall off in the next month anyways, and frankly I need something new to distract me right now.

My only concern is that I have 8 accounts that are 11 months old, so I might get flagged as having too many new accounts.

As before, I own a legit, operating C-Corp and will be applying for Biz cards under the corporate name/TaxID.

Household Income - $80,000
Business Revenue - $300,000

Credit Scores via PrivacyMatters-123:
TU: 750
EQ: 766
EXP: unknown (EXP frozen so PM123 cant update it, last score was 668 back in April. I'd ballpark it at 690-700 right now)

Scores include reported balances totaling $55,000, which will be paid off before applications are submitted.

No inquiries on TU or EQ, EXP will show about 20 (the most recent 7 being 11 months old) if someone insists on pulling it.

Goal is to pay HELOC back down to $0 (from $60k), and acquire $50-$75k cash between personal and biz accounts to put into savings accounts/CDs.

Existing Open Accounts (includes both personal accounts and corporate accounts):

Card                 Limit      Date Opened
AMEX Blue Cash       $20,000    8/03
AMEX Blue            $ 7,000    8/03 (per credit report)
Bank of America Plat $24,400    10/07
Bank of America Plat $ 1,000    9/03
Bank of America AAA  $   500    7/03
BofA Elite Rewards   $ 1,000    8/03
BofA Personal LOC    $10,500    8/03
Chase Disney         $ 1,000    10/06
Chase Sony           $21,000    10/07
Citi AT&T            $   500    10/07
Citi Professional    $10,000    10/07
Discover Card        $ 1,502    8/95
Hooters Card         $ 9,750    10/07
Juniper Nat Parks    $ 7,700    10/07     (increased to $22,900 via Bank Atlantic Biz reallocation)
Key Bank             $ 4,000    8/06
Key Bank Pers LOC    $10,000    9/03
Nat City Lifespring  $11,000    10/07
US Bank Baylor       $18,000    10/07
Wachovia             $ 5,000    2/07
(report is littered with misc closed accounts as well)
BIZ CARDS:
Advanta Biz          $12,500    
AMEX Blue Cash Biz   $ 5,000    
AMEX Plat Biz        $20,000    
Bank of America Biz  $20,000    
Bank of America Biz  $17,750    
Bank of America Biz  $24,000    
Bank Atlantic Biz    $15,200    (now closed, line moved to National Parks card)
Chase Biz Cash Rew   $ 1,000    
Chase GM Biz         $18,000    
Citizens Bank Biz    $ 5,000    
CitiBusiness         $15,000    
Citi PremierPass Biz $10,000    
Discover Biz         $22,500    
National City Biz    $ 9,000    
HSBC Biz             $ 5,000

Card                        Promo   Fee   Perks
Wachovia Biz (over phone)   0/12    none
Bank Atlantic Biz           0/15    $75
Chase Biz Rebate            0/12    $99   $40 via cardselection.com
CitiBusiness                0/12    none  15,000 TYPs
Citi Associated Bank        0/12    none
Citi Amex                                 15,000 TYPs, 3%/5% rewards for 2 years
US Bank ProBull             0/12    none
Bank of America Platinum    0/12    none
Chevy Chase Biz             0/12    $75
Chase Platinum              0/12    $75   $25 via cardselection.com
Citi AT&T Biz               0/12    $99
M&T Bank Biz                0/6     none
HSBC Biz                    0/6     none
National City Biz           0/6     none
Wachovia                    0/12    $75

Juniper I Fly               0/12    $50    $15 w/purchase
Eastern Bank Biz (Barclays) 0/12    $75
Discover More               0/12    $75    free digital camera
Cambridge Trust Biz         0/6     none
UPS Store Biz (Chase)       0/12    $75

I'll reallocate my Juniper/Barclays lines to the new Bank Atlantic card, so the I Fly card would just add another new account on my credit report. Word is only one Barclay's Biz card allowed at a time, so Eastern Bank is out (although I might try it at the end to see what happens). And I already mentioned excluding Discover, although I might apply for the camera once the Biz card balance is paid off in November. Moved UPS Store and Cambridge Trust to 'maybe' list in agreement with markkundinger's opinions.

BT stretegy includes reallocating/consolidating accounts to allow for a single, large limit on Bank America Platinum, Chase Platinum, Citi Associate Bank, CitiBusiness, Chase Business Rebate, US Bank ProBull, and Bank Atlantic Biz. Wachovia Biz, M&T Biz, Cambridge Biz, and HSBC Biz will also be utilized assuming their limits make it worthwhile.

BT money will be cashed out via welcome checks/ACH deposits when available, pushed to my HELOC if needed, or filtered through a Citi account (Bank Atlantic).

Citi AMEX is included for the 15k TYP bonus, and to be my spender for the next year. Once the dust settles, I will also revisit Google Checkout, as 3% return is higher than the 2% GCO fee. Yes, the net is only 1%, but at a steady $2k every 4-5 days (my transaction rate per account last fall) that'd net ~$1500 profit over a year for minimal effort.

Should I drop the Chevy Chase Biz and UPS Store Biz cards, as they are also issued by Chase? I think I will gain minimal new limits from them on the personal side, but I dont know about the Biz side. These can be reallocated to other Chase cards, correct?

Will US Bank reallocate? Do they even allow multiple accounts?

Anyone know of any Biz cards from other issuers that have 0% BT promos? I'd like to add 3-5 more apps, but dont want to add any more personal accounts.

Why do the heloc advance so early? I'd be tempted to do it more like around 9/10.

We don't hear a lot about people getting Wachovia cards. Maybe they're getting denied.

Right now, you probably have a lot of cards that are both very new and have very small credit limits. It probably wouldn't hurt anything to close/consolidate this with older, bigger cards, just as cleanup.

4 Chase apps seems excessive, especially since you'll probably be reallocating.

At least one person has failed to reallocate between two US Bank personal cards.

I think I see two Elan biz apps and 1 US bank peronal app, that would be one app to many for US Bank, in my opinion.

I received a targeted offer for a Disco Biz card, 0% purchase for 6 mo or 1.9% BT for 15 months, so they're not completely dormant.

Its time to get started on round two....Should I drop the Chevy Chase Biz and UPS Store Biz cards, as they are also issued by Chase? I think I will gain minimal new limits from them on the personal side, but I dont know about the Biz side. These can be reallocated to other Chase cards, correct?IMO, don't drop them... if denied, call for reconsideration (i.e., if I close my Chevy Chase Biz, would I be approved for this CHASE Biz Rebate?)Will US Bank reallocate? Do they even allow multiple accounts?I'm unfamiliar with reallocation, but I am almost certain they do not approve for more than one...other members??? data points?

as for closing the National Parks card after reallocating to the new Bank Atlantic card... Why close when you can leave it open as a 3.0 destination for your 2.0 used Bank Atlantic line? (rinse and repeat).

I had good results (all approvals, many instant, good sized CLs) with a handful of 11 month old accounts last February when I did a micro-AOR (of about ~8 apps), so I think the 11 month old accounts shouldn't hold back your success.

You might consider the strategy of paying balances down, and waiting 1-2+ months to see what kind of tasty pre-approved offers roll in. When I did this (february '08) here were a few I got: Am Ex Blue 0% 12 mo $99 BT fee, Am Ex Gold 50k bonus MR points, Chase Freedom PLUS $300 bonus, Chase Platinum 15-mo 0% w/no BT fee on app, etc. Of course, pre-approved offers may vary and especially now with the worse credit climate, but maybe not and maybe you'll get something even better.

Also going 1-2+ months without holding a 0% balance might also help issuers view you as more likely of a profitable customer (and get you less liklihood of A/A) than going from one large 0% BT immediately into another. I know the cost would be an extra 1-2 months of no 0% BT profit, but the long term benefits may outweigh this cost.

Best of luck!

jakeru said: I had good results (all approvals, many instant, good sized CLs) with a handful of 11 month old accounts last February when I did a micro-AOR (of about ~8 apps), so I think the 11 month old accounts shouldn't hold back your success.

You might consider the strategy of paying balances down, and waiting 1-2+ months to see what kind of tasty pre-approved offers roll in. When I did this (february '08) here were a few I got: Am Ex Blue 0% 12 mo $99 BT fee, Am Ex Gold 50k bonus MR points, Chase Freedom PLUS $300 bonus, Chase Platinum 15-mo 0% w/no BT fee on app, etc. Of course, pre-approved offers may vary and especially now with the worse credit climate, but maybe not and maybe you'll get something even better.

Also going 1-2+ months without holding a 0% balance might also help issuers view you as more likely of a profitable customer (and get you less liklihood of A/A) than going from one large 0% BT immediately into another. I know the cost would be an extra 1-2 months of no 0% BT profit, but the long term benefits may outweigh this cost.

Best of luck!Glad to hear of the success with 11-month-old accounts.

I dont want to wait, as I'll be carrying a $60k balance on my HELOC until its moved back to 0% cards. I'm not going to gamble on getting preapproval offers to justify that expense. And I churned about $200k worth of GCO purchases last winter using cards from many different issuers, so if I'll ever look like a profitable customer it's now.

Balances are paid off, or payments are being posted today. Disputed the 5 outstanding balances showing on my personal credit on TU, EQ, and EXP using these links. When submitting the disputes, I noticed my US Bank Baylor account's limit was INCREASED to $18k at some point.

Called Citi to consolidate PremierPass Biz ($10k limit) into CitiBiz Plat Select ($15k limit). CSR said only $8k could be reallocated, submitted the request, should see online within a day or two. Will call back to close the PP card once it processes, as a annual fee will be charged in a month, and will try to consolidate the remaining $2k limit at that time.

Closed BA Biz card, and called Barclay's per this post by jackcrawfish to reallocate $15k limit to my Nat Parks card. First call, CSR sent me to BA customer service, who said it couldnt be done. Called back immediately, CSR submitted a request to Business Dept, saying it should be completed within 24-48 hours and they will call me when it is done. Per jackcrawfish's post, I called back again 20 minutes later, yet another CSR said the same. I couldnt get it done instantly, but it should be done within a day per multiple CSRs.

props belong to lhendricks92 and markkundinger for my Barclay's experience...I was merely the soldier carrying out action plans / suggestions...Called Citi to consolidate PremierPass Biz ($10k limit) into CitiBiz Plat Select ($15k limit). CSR said only $8k could be reallocated, submitted the request, should see online within a day or two. Will call back to close the PP card once it processes, as a annual fee will be charged in a month, and will try to consolidate the remaining $2k limit at that time.good luck with that one as I was consistently (5-6 times) told this was not an option to move biz PPass line to biz PlatSelect line.

Glitch99 said: Closed BA Biz card, and called Barclay's per this post by jackcrawfish to reallocate $15k limit to my Nat Parks card. First call, CSR sent me to BA customer service, who said it couldnt be done. Called back immediately, CSR submitted a request to Business Dept, saying it should be completed within 24-48 hours and they will call me when it is done. Per jackcrawfish's post, I called back again 20 minutes later, yet another CSR said the same. I couldnt get it done instantly, but it should be done within a day per multiple CSRs.As of tonight, National Parks card shows available credit limit of $22,900. Score! Much thanks to jackcrawfish, lhendricks92, and markkundinger for working out this step.

(Now watch their computer reduce the line after a routine account review in the next couple days... **bites tongue**)

The question now - do I move the card down the list of apps, assuming there is no new credit to be had and I'll be getting a $20k limit (by reallocating) regardless?

markkundinger said: I would say the reallocation potential makes a Barclays app HIGHER priority, not lower.How so? My thinking was that I just need an approval as the credit limit already exists, whereas with Chase and (especially) Citi I'll have a chance of scoring atleast one decent new line.

Thats why I already have BofA and USBank halfway down the list, the new account will be established using my existing limit so I dont need them to see a clean report for a big new line, just good enough for them to say 'yes'. Or is this theory flawed?

jackcrawfish said: (a) wait to apply for Bank Atlantic card because within 4 weeks TU will see bumpage The problem with this is that new accounts w/balances will have reported by then, and its likely Juniper will slash that $22,900 limit once they see the new balances so I dont want to sit on it too long. Their computer tried cutting my $7,700 limit last winter with similar outstanding balances.

Rorer714 said: What about a Citi Cash Returns card. You can kill them on the 5% (Cash Back) for three months.1)When I applied back in the spring, they insisted on pulling EXP; I didnt let them so it was denied. As Citi has otherwise pulled EQ for me, I'm hoping that was a fluke for that card only and the other cards will accept my EQ report.

2)I decided I can make better use of 3% for a year than 5% for 3 months. I'll have large balances on my report when the promo expires, so I wont be able to get a replacement card (or reapply for another CashReturns).

3)Some have reported issues with the account being closed, and since this will coincide with A0R balances and new accounts I dont want to risk running up $XXX,000 in purchases only to loose the rewards when Citi gets spooked. Esp via GCO, where I'd be stuck eating the 2% fee.

If the AMEX card is denied for whatever reason, I'll throw in the CashReturns as a second choice.

Glitch99 said: Rorer714 said: What about a Citi Cash Returns card. You can kill them on the 5% (Cash Back) for three months.1)When I applied back in the spring, they insisted on pulling EXP; I didnt let them so it was denied. As Citi has otherwise pulled EQ for me, I'm hoping that was a fluke for that card only and the other cards will accept my EQ report.

2)I decided I can make better use of 3% for a year than 5% for 3 months. I'll have large balances on my report when the promo expires, so I wont be able to get a replacement card (or reapply for another CashReturns).

3)Some have reported issues with the account being closed, and since this will coincide with A0R balances and new accounts I dont want to risk running up $XXX,000 in purchases only to loose the rewards when Citi gets spooked. Esp via GCO, where I'd be stuck eating the 2% fee.

If the AMEX card is denied for whatever reason, I'll throw in the CashReturns as a second choice.

Citi seems to have switched to exclusively pulling EX. In the past, they have always pulled TU for me (as late as this past April), but they have started pulling EX in the past few months. I've seen reports of them switching to EX for other cards as well. So, if you don't want them to pull EX, then you may need to avoid Citi altogether.

Also, as a datapoint, I have high balances (~$95K) from a couple of mini-AORs (6-8 apps each) and rolling thunder applications, but I've gotten approved for two CashReturns cards so far - one in April, another in July. When I applied for the second one, I was up to 22 open cards less than 12 months old.

downhillskier said: Citi seems to have switched to exclusively pulling EX.

My experience is contrary. Citi pulled EX like crazy for everyone at my address in January and March, 2008. With DW's EX frozen, they pulled TU twice, in June and again in August, without a peep.

Glitch99 said: Called Citi to consolidate PremierPass Biz ($10k limit) into CitiBiz Plat Select ($15k limit). CSR said only $8k could be reallocated, submitted the request, should see online within a day or two. Will call back to close the PP card once it processes, as a annual fee will be charged in a month, and will try to consolidate the remaining $2k limit at that time.It didnt process, and when i called today the CSR said it was because the Plat Select card (the 'target') has an open 0% offer. It didnt matter that the PremierPass has an identical 0% offer as well. If I wait until the 0% officially expires next month, it should consolidate without issue. Unfortunately I cant do that, as the PP will charge its annual fee around that same time.

As the CSR seem rather efficient, I told her to convert the PP to a generic Biz account with no annual fee. She said I should get the new card within a week. Once I do, I will call back to attempt consolidating again.

Will US Bank reallocate? Do they even allow multiple accounts?

US bank allows multiple accounts. I have 1 (US Bank Baylor) from last year and was just approved for the US Bank Linux.
I'm still trying to find out whether they allow reallocation/consolidation.

A bit off topic, but might be of interest: I closed my 2 y.o dormant Advanta in hope of reapplying and getting the 15 month promo BT. Time between closing & reapplying is approx 5 days. It was approved, but to my surprise got a lot lower CL (had 20k, was approved with only 2.5k). When I activate I will see if I can talk them into raising the CL.

Pat212 said: jakeru said: Glitch99 said: And I churned about $200k worth of GCO purchases last winter using cards from many different issuers, so if I'll ever look like a profitable customer it's now.*gasp!* And makes sense to me! Good luck.

Is there any additional info on this? Search didn't come up with anything.Google Checkout - had a fee-free processing promo until last February (now its 2%).

Glitch99 said: Glitch99 said: Called Citi to consolidate PremierPass Biz ($10k limit) into CitiBiz Plat Select ($15k limit). CSR said only $8k could be reallocated, submitted the request, should see online within a day or two. Will call back to close the PP card once it processes, as a annual fee will be charged in a month, and will try to consolidate the remaining $2k limit at that time.It didnt process, and when i called today the CSR said it was because the Plat Select card (the 'target') has an open 0% offer. It didnt matter that the PremierPass has an identical 0% offer as well. If I wait until the 0% officially expires next month, it should consolidate without issue. Unfortunately I cant do that, as the PP will charge its annual fee around that same time.

As the CSR seem rather efficient, I told her to convert the PP to a generic Biz account with no annual fee. She said I should get the new card within a week. Once I do, I will call back to attempt consolidating again.

Yeah, it took me about 5 calls to 5 different CSRs before I could consolidate my Biz premierpass to Biz Plat Select, but it eventually worked. The first four CSRs had Indian accents and the one that finally did it was American. Each kept me on hold for fifteen minutes or so trying to do the consolidation. If I had to do it again, I would probably just hang up and call back until I got someone from a U.S. call center.

Don't do Discover or the M&T Bank business cards. Discover gives stingy credit lines and M&T wants bank and other statements to prove my long-standing business exists.

peteypablo said: downhillskier said: Citi seems to have switched to exclusively pulling EX.

My experience is contrary. Citi pulled EX like crazy for everyone at my address in January and March, 2008. With DW's EX frozen, they pulled TU twice, in June and again in August, without a peep.

Citi pulled EQ for me. Florida. I closed two cards with them and reallocated and then applied for a new card.

Glitch99 said: App#7; US Bank declined; kind of expected, will call and attempt to 'shift' existing $18k limit to establish new account.US Bank has weekend hours (800-947-1444), so I called this morning.

At first, CSR said I had been declined because "Experian says you (I) have no credit" (thanks to the freeze, which I didnt mention). Immediately pulled someone else (Equifax)and said "Hey, there you are".

She asked how much I wanted on the new card; I said I wanted to do a $15k BT, so $17-18k would be nice. She reduced my Baylor card from $18k to $2k, in order to allow for a new $18k card (net gain - $2k). Said it has to run through their 'verification department' first, but should be all set in 3-5 days.

I know I can do the same with BofA this weekend, but they tend to report new accounts really quickly so I'm going to wait until I get the other apps (namely Citi and Bank Atlantic) processing on Monday.

Glitch99 said: The Analyst bluntly told me to go find "one of the many, many other credit card companies" to do business with.

Wow is all I have to say to that