Today's activity: Both B of A and National City called today to make sure that there was no fraud. The Nat City chick seemed a little snooty about how many inq's I had and the BT amount I requested. Thing is, I've read here that requesting larger amounts often results in larger CL's. You can always pay off part of it to get to a reasonable utilization. They are still processing.

In other news, I grabbed FICO's today, TU-776, EX-720, EQ-796. 11 of the inquiries showed up on TU, yet the score went up 2 points! Someone explain that to me. EX dropped 20, EQ is also up 2, but hasn't reported the inq's yet.

FirstNational said:Received 4 cards today including Key Bank card with $20K line that had been deferred, and my 0% Purchase/12mo Citi card, which I will start using immediately.

I have this idea to get the most from purchase cards...use a Google checkout account (2% per transaction) and just run purchases through there, invest the cash as usual. It's a slim profit with a 3.75% online savings account, but better than nothing. Any comments are welcome.

Buy State Farm gift cards. Buying $500 cards is $4.95 and unloading the money back to your account is $1.00. You get the float and pay 1.19% instead of Google's 2%.

Couple of declined notices today, Key Bank only allowing 1 app in 60 days, Sun Trust I was too late with I guess.

Approved for Advanta Business, but the CL is only $2500, which, with interest rates so low, is not enough to make it profitable -- too bad since it's a 15-month deal. I activated and tried love button to no avail. Maybe I'll put a few purchases on it and try again, depends on what the rejection letter says.

Approved BofA Business MC $10,500.

Still hoping to get my total CL to $1/2 Million.

tmolloy said:Why not sign up for one of the rewards checking accounts that yields between 5-6% for between $25k-$50k of your balance?

I haven't looked too closely at those, but seems like even a meticulous financial geek like myself would have trouble keeping all the requirements going.

JAGLUR said:FirstNational said:
Approved BofA Business MC $10,500.




Was this through mailed offer? Or did you have to go to the banking center for application?
Either way, I remember people saying BOA biz will report to personal CR even w/o defaulting it..
Not to scare you, but just curious as I do not know for certain.
GL!

I have had a BOA biz for about 1 1/2 years (sole prop) and it has never reported to my personal

Today's update, received 2 rejections from BofA. No surprise there. Actually I was surprised that I got the 2 BofA cards I did get. I have almost $70K with them now.

I also looked closer at the rewards accounts and decided the yield is worth it. I've applied for a Charter Turbochecking account, evaluating others as well. BT money for the BofA Pet Rewards as well as the Chase Disney Rewards Visa came in today. 8 apps are still pending.

Update: Received BOTH USBank cards today, $25K each. This is great because they are 12mo/nofee cards. When they asked for a pay stub I didn't think it was going to get approved, and I think I actually got a rejection notice at one point. Also got rejection from Nat City. Nationwide is requesting income verification, not sure which card that's about, probably both. I have to mail it in, so that will be a while. Hard to believe I haven't heard from Citi yet.

The numbers as of today: 10 approved, 10 declined, 4 pending. My total CL finally broke $1/2 mil.

VanceWade said:FirstNational said:That CL is too small to do a BT with a no-cap 3% fee.


Um, a no-cap 3% fee is a deal-killer with any credit limit. The bigger your limit, the bigger your potential fee. Maybe you meant capped...

I can get better than 3%, but I'm not going to go to the trouble if it's only going to make me a few bucks. The absolute dollar amount is what I'm talking about. Good point though.

I received notice on Friday that both of my Nationwide apps were declined with the reason "UNABLE TO VERIFY EMPLOYMENT AS PROVIDER", which is strange, since I sent them a recent paystub. I'm going to call and check on this next week.

peteypablo said:FirstNational said:Received 4 cards today including Key Bank card with $20K line that had been deferred, and my 0% Purchase/12mo Citi card, which I will start using immediately.

I have this idea to get the most from purchase cards...use a Google checkout account (2% per transaction) and just run purchases through there, invest the cash as usual. It's a slim profit with a 3.75% online savings account, but better than nothing. Any comments are welcome.

Buy State Farm gift cards. Buying $500 cards is $4.95 and unloading the money back to your account is $1.00. You get the float and pay 1.19% instead of Google's 2%.

Interesting idea. How do you get unloading for only $1.00?