I thought I would give a lite AOR a go, and hopefully along the way provide some helpful data. There haven't been many AORs documented recently, so to start I have to say I've learned a lot from MikeR397's, peteypablo's and little4ce's recent AORs, thanks!
AOR Goals: Select the best 7-9 cards and try to reach 100k in 12 month 0% money for deposit into 4-5% checking accounts. I'd like to keep it small enough to avoid AA and having to do B* and don't mind closing out existing accounts if necessary to consolidate credit lines. Maybe with good planning and a little luck I can keep inquiries spread out with only 2-3 going on each report.
Stats: Credit Scores: (Amx Credit Secure) EX 780 EQ 784 TU 784, Credit Karma 795 Inquiries: EX 2 EQ 1 TU 1 HHI: low six figures AVG card age: 5 yrs
Strategy/Applications: Hopefully I can be successful on several Biz applications, all of the AA I've had in the past cited the reason of high outstanding personal card balances. Here's my early planning, I'm sure I'll fill in some holes and make some revisions over the next few days, I'd like to pull the trigger sometime in the next 7-14 days.
1. Citi Business MC Link 0% 12 mo, $0 bt fee, $150 TYN GC This is the card I want the most, would like to get even a low limit card, consolidate and close out my existing 40k Citi Biz card. Past history of Citi Result: Approved 10k, Inquiry EQ and TU
2. National City Visa Business Link 0%, 6 mo, $0 BT fee Related -Denied last summer for personal Nat City Quilters Card (deferred and then denied for too many inquiries) Result: Approved 5k, Inquiry TU
3. Barclays Bank Atlantic Business Link 0% 13 mo, $99 BT fee I already have this card with an 11k balance (0% expires in 2 months), considering paying it off early, then applying for a second card and seeing if I can move over the old credit line. Result: Approved 21k, Inquiry TU
4. BOA NEA Platinum Plus Link 0% 12 mo $30 BT fee Would like to get the NEA card and then close and consolidate over an exisiting BOA 35k line. Result: Approved 35k, Inquiry EX
5. US Bank Linux Cash Rewards Visa Link 0% 12 mo (No Balance Transfer Fees for balances transferred with application) Result: Denied, Inquiry EQ
6. Barclays Coast to Coast Visa Link 0% 12 mo. $75 max fee Result: Approved 4k, Inquiry TU
7. Citibank PremierPass MC Link 0%, 12 mo, $0 BT fee If I get this card I'm considering calling after it arrives to consolidate and close either my Citi Assoc 40k or Citi CashReturns 30k card. Result: Approved 3k, Inquiry EQ
8. Chase Sapphire Link 10,000 Pts, no annual fee I need 5k Continental points for a ticket and I guess this is the best way to get there. Chase hit me the hardest with AA for high balances about 4 months ago, but hopefully they will look at my low debt now on my personal report and not hold it against me that I still have 39k on a Chase Biz card at 0% for 2 more months. Result: "this offer is no longer available" No Inquiry
I would really welcome any questions, suggestions or advice on strategy and will keep this updated, please let me know if you'd try an alternate approach or other card, it would be great to implement other ideas and then see what the results are.
------- maybe next time: Wachovia personal 12 mo 0% $99BT Inq: EQ, phone application
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posted: Aug. 15, 2009 @ 8:59p
peteypablo
Senior Member - 1K
posted: Aug. 15, 2009 @ 9:26p
With the US Bank cards, even though the application always says no fee for balance transfers with application, those done within 30 days after account opening have had the same deal.
I did a small 5 card conservative aor last week, US bank linux was the first approval, but only got 5000 limit, so I'm hoping they can consolidate from baylor, I'll let you know
MikeRT
Member
posted: Aug. 15, 2009 @ 10:06p
zxx7x said: 1. Citi Business MC Link 0% 12 mo, $0 bt fee, $150 TYN GC Inq: ? EX or EQ This is the card I want the most, would like to get even a low limit card, consolidate and close out my existing 40k Citi Biz card. Past history of Citi Biz apps has been shaky: - Denied July '08, they waited a day and did a delayed pull, then denied me for too many inquiries - Denied Jan '09, I was denied for existing high balances, pulled EQ. I've been considering launching this one day ahead of the other apps if this is viewed as an ok move.
Citi generally no longer allows consolidations between business cards. You can try, but I wouldn't count on it.
might help someone looking for BT fee capped cards
zxx7x
Member
posted: Aug. 15, 2009 @ 10:56p
peteypablo said: With the US Bank cards, even though the application always says no fee for balance transfers with application, those done within 30 days after account opening have had the same deal.
Thanks peteypablo, good information, I'll leave the BT off the app, much more flexibility!
tim1 said: I did a small 5 card conservative aor last week, US bank linux was the first approval, but only got 5000 limit, so I'm hoping they can consolidate from baylor, I'll let you know
Thanks, and hope it goes through for you!
MikeRT said: Citi generally no longer allows consolidations between business cards. You can try, but I wouldn't count on it.
Thanks for the info, I had good luck last summer with personal Citi consolidations, I'll give the Biz a try if I get the card but know it might be impossible, I'll report what happens.
tim1, thanks a lot for your aor links! Did the BOA NEA give you a decent line and did you try moving over an existing BOA credit line? I didn't know about that Wachovia card, did they give you a good credit line? I might have to put Wachovia in as my 9th card. Did you check to see where your inquiries went? Thanks again.
Ryan431101111
Senior Member
posted: Aug. 15, 2009 @ 11:28p
OP said: Related -Denied last summer for personal Nat City Quilters Card (deferred and then denied for too many inquiries)
Pretty sure I wouldn't admit to applying for this card and then being denied.
zxx7x
Member
posted: Aug. 15, 2009 @ 11:47p
Haha, yea, I had trouble keeping a straight face last year filling out the Quilters application, first time that I've been kind of relieved when I didn't get an approval.
zxx7x said: Thanks peteypablo, good information, I'll leave the BT off the app, much more flexibility!
agreed....i never bother with BTs during apps. the issuers dont seem to care, so neither do i.
PolarDude
Senior Member - 1K
posted: Aug. 16, 2009 @ 6:14a
Why don't you give capital one a try?
vaylon
Senior Member - 1K
posted: Aug. 16, 2009 @ 7:48a
PolarDude said: Why don't you give capital one a try?
Because capital one is probably the worst card issuer out there.
peteypablo
Senior Member - 1K
posted: Aug. 16, 2009 @ 8:12a
vaylon said: PolarDude said: Why don't you give capital one a try?
Because capital one is probably the worst card issuer out there.
True, they do cost you an inquiry with each CRA, but they have that quirky "balance transfer counts as purchase" button on their website that you can use to get serial 20-50 day no fee balance transfers (depending on whether you care that it reports to the CRAs).
zxx7x
Member
posted: Aug. 16, 2009 @ 9:51a
My parents had Capital One and really disliked them, and a potential triple inquiry could be rough with no B*.
Rorer714
Senior Member
posted: Aug. 16, 2009 @ 10:27a
It seems only one Barclay’s business card at a time. Many have reported being denied for second card, then calling and close first card and move CL plus a couple extra K they throw in to the second card. I was also limited to 20k max BT a couple of weeks ago.
zxx7x said: 8. Chase Sapphire Link 10,000 Pts, no annual fee Inq: EQ?
I applied for and was instantly approved for the Sapphire Preferred last month when it was 25000 points and 1st year annual fee waived. They pulled only Transunion, not Equifax. Just trying to help a little.
I'm gettin' misty reading an AOR thread. Boy, it takes me back. Thanks for being bold to try one zxx7x. Watching eagerly to see how it works out. A little worried about your recent AA, I must say.
Good luck!
tolamapS
Senior Member - 2K
posted: Aug. 16, 2009 @ 2:21p
Good post. Good luck.
About 2 months ago I applied for a Chase Sapphire, and chase sent me this:
"Denied. Reason:
''Previously unsatsifactory relationship with this bank''
Blah. Blah"
Main reason is that long time ago I had a bunch of Chase accounts closed due to large balance transfers on OTHER issuer cards.
Since then, I have been very careful with (and unprofitable to) Chase.
tolamapS
Senior Member - 2K
posted: Aug. 16, 2009 @ 2:22p
I have a CitiBusiness Master Card with TY Network with a very large credit line.
What are my chances of getting a second one, and transfering the CL from the old card to the new card?
tolamapS said: I have a CitiBusiness Master Card with TY Network with a very large credit line. What are my chances of getting a second one, and transfering the CL from the old card to the new card? TIA for any feedback. Given that it might be relevant to OP's plans -- I read here on FWF that CITI has suspended credit line reallocations.
vaylon said: PolarDude said: Why don't you give capital one a try?
Because capital one is probably the worst card issuer out there.
IMO Cap1 has improved over the last few years. They are granting good CLs, and have low APRs.
zxx7x
Member
posted: Aug. 17, 2009 @ 1:00p
VanceW, tolamap, thanks! I could definitely use a little luck.
tolamap, I'm not sure if Chase has completely moved me into their doghouse yet, in '08 they hit me with several reductions but no closures for high balances with other issuers and then after I paid everything off they approved me for 4 new cards with great limits. I guess I'll find out soon.
I was just looking at the projected inquiries if I launch the 8 planned apps and it looks like with these offers, which are the best available, I'll add 1EX, 4EQ and 3TU. This would be my post app total:
Ex:3 EQ:5 TU:4
This wouldn't be too bad in the old days, but does anyone know if 4 or 5 total inquiries has been getting any issuers excited recently and causing problems?
zxx7x said: VanceW, tolamap, thanks! I could definitely use a little luck.
tolamap, I'm not sure if Chase has completely moved me into their doghouse yet, in '08 they hit me with several reductions but no closures for high balances with other issuers and then after I paid everything off they approved me for 4 new cards with great limits. I guess I'll find out soon.
I was just looking at the projected inquiries if I launch the 8 planned apps and it looks like with these offers, which are the best available, I'll add 1EX, 4EQ and 3TU. This would be my post app total:
Ex:3 EQ:5 TU:4
This wouldn't be too bad in the old days, but does anyone know if 4 or 5 total inquiries has been getting any issuers excited recently and causing problems?
I think with a crash helmet, body armor and steel-toe boots you should be fine . Don't have the guts to do what you are doing, so i'll just pop a cold one and watch how you are doing. Good luck.
zxx7x said: fotomaiak, thanks for the continental checking info, great backup to have if I get denied on the Sapphire. why not do both? Checking account can be opened with no inqury. be sure to choose Debit card with cheaper($30) annual fee not the $65 one. Both qualify for the bonus, but cheap card earns 1 mile per $2, while other earns 1 mile per $1.
Chase offers 20+K continental miles bonus for checking every year. Miles bonus is not taxable, if you travel it makes more sense than getting $125. limit one chase checking offer per calendar year.
Another option is chase continental CC.
EugeneV
Ancient Member
posted: Aug. 19, 2009 @ 10:39p
I have tried consolidating or reallocating CL between Citi Business cards. No luck. Not even via retentions.
National City is not very generous with CL - probably not worth an inquiry. Neither would they increase the CL based on any docs you are willing to provide - only based on usage/history with them.
Be careful with US Bank consolidation/reallocation. This bank is actually very savvy when it comes to our type...
For Wachovia, you need an existing relationship, e.g. deposit account, unless something has changed after WF acquisition.
Good luck!
Edit: By the way, nice to see so many familiar "faces" in this thread
zxx7x
Member
posted: Aug. 20, 2009 @ 1:43a
Thanks foto, good info, I looked up the FW Continental Thread and will read it over this weekend. There were 2 reasons I was initially hesitant, I already have 2 (formerly WaMu) checking accounts now in my Chase profile which are going unused because their terrible rates and I already have direct deposits going other places and wasn't sure if I could come up with another to meet the account requirements.
Eugene, thanks too for all the good data and tips! Revising my strategy a little this weekend and definitely taking all of this into consideration.
peteypablo
Senior Member - 1K
posted: Aug. 20, 2009 @ 6:55a
I just wanted to report that National City was more generous with me. First time around, I got $12.5K, increased to $14K after payoff. Second card was $5K and they allowed reallocation. HHI $132K and some lines were showing by the time I got to applying with them.
zxx7x
Member
posted: Aug. 21, 2009 @ 5:08p
Thanks peteypablo, I'm going to keep Nat City in the AOR, even though it's only a 6 mo BT and credit lines can vary I need more business credit.
I called Barclays Bank Atlantic and they confirmed you can only have 1 business card with them. I could really use some help on my Bank Atlantic strategy, which approach sounds smarter?
1. Pay off the 11k I have left on my Bank Atlantic card from last year's 0% offer, close out my card, and then apply for another one?
or
2. Pay off the 11k, keep the card open, apply for 2nd Bank Atl Biz card that will not be approved, and then call and hope I can get approval and move over the old credit limit with the closure of the old account?
MikeRT
Member
posted: Aug. 21, 2009 @ 5:30p
zxx7x said: Thanks peteypablo, I'm going to keep Nat City in the AOR, even though it's only a 6 mo BT and credit lines can vary I need more business credit.
I called Barclays Bank Atlantic and they confirmed you can only have 1 business card with them. I could really use some help on my Bank Atlantic strategy, which approach sounds smarter?
1. Pay off the 11k I have left on my Bank Atlantic card from last year's 0% offer, close out my card, and then apply for another one?
or
2. Pay off the 11k, keep the card open, apply for 2nd Bank Atl Biz card that will not be approved, and then call and hope I can get approval and move over the old credit limit with the closure of the old account?
I chose the 2nd option back in Feb. I called 866-408-4064 about an hour after I submitted the app and they were able to close the old card and move the credit line over to the new card. Was quick and easy.
cyberkost said: I read here on FWF that CITI has suspended credit line reallocationsOnly to new cards with low introductory APRs, which might affect the OP as you say. But other non-business reallocations are fine; I did it 4 days ago, moved 36.9k
zxx7x
Member
posted: Aug. 21, 2009 @ 6:09p
MikeRT said:
I chose the 2nd option back in Feb. I called 866-408-4064 about an hour after I submitted the app and they were able to close the old card and move the credit line over to the new card. Was quick and easy.
Thanks MikeRT!
Rorer714
Senior Member
posted: Aug. 21, 2009 @ 6:30p
zxx7x said: MikeRT said:
I chose the 2nd option back in Feb. I called 866-408-4064 about an hour after I submitted the app and they were able to close the old card and move the credit line over to the new card. Was quick and easy.
Thanks MikeRT!Option #2 has been working very well. I chose option #1 (last month) but after they messed up and the card still showed as not closed I actually ended up with option #2 with no problem.
little4ce
Senior Member
posted: Aug. 21, 2009 @ 6:44p
EugeneV said: I have tried consolidating or reallocating CL between Citi Business cards. No luck. Not even via retentions.
National City is not very generous with CL - probably not worth an inquiry. Neither would they increase the CL based on any docs you are willing to provide - only based on usage/history with them.
Be careful with US Bank consolidation/reallocation. This bank is actually very savvy when it comes to our type...
For Wachovia, you need an existing relationship, e.g. deposit account, unless something has changed after WF acquisition.
Good luck!
Edit: By the way, nice to see so many familiar "faces" in this thread
I need to say that EugeneV is spot on.
Don't even try it with US Bank, the best bet is through CITI special cards: ADA, Associated Bank, etc. I have heard some reports 1-2 months ago that reallocation between these cards is possible (I got the ADA card and will try a consolidation with Associated within 2 weeks, will report my results on the forum, but I do not hold my breath...)
Question: since the CITI business denied you in July 2008 and Jan 2009 and pulled EQ, how come you only have 1 inq. on that CRA?
Good luck!
zxx7x
Member
posted: Aug. 21, 2009 @ 10:54p
Thanks Rorer, I'm getting optimistic with my Bank Atl app.
little4ce said:
I need to say that EugeneV is spot on.
Don't even try it with US Bank, the best bet is through CITI special cards: ADA, Associated Bank, etc. I have heard some reports 1-2 months ago that reallocation between these cards is possible (I got the ADA card and will try a consolidation with Associated within 2 weeks, will report my results on the forum, but I do not hold my breath...)
Question: since the CITI business denied you in July 2008 and Jan 2009 and pulled EQ, how come you only have 1 inq. on that CRA?
Good luck!
Thanks little4ce and good luck on your consolidation!
I did B* last summer, used 6 services + Credit Karma for about a month and cleared up EQ and TU. Was sorry to see that Chase ID, Privacy Matters and True Credit are no longer daily pullers. I've been thinking maybe even if I'm only doing 8 apps this time that I shouldn't be so lazy and go ahead and do B* but I'm not sure it would work, I only know of 3 services + Credit Karma (TU) that still allow daily refreshes.
I didn't know the situation with US Bank was so bad, my Baylor card last year was my first with them. They gave me a nice credit line (20k) and I never heard anything out of them for the last year, no AA. If I apply for the Linux card is the best I can hope for with them is to get a nice credit line, or is that unlikely on a second US Bank card?
Skipping 17 Messages...
JAGLUR
Wacky Member
posted: Oct. 21, 2009 @ 12:08a
jameshasty said: JAGLUR said: Mikawl said: little4ce said: Chuck73 said: It's probably changed, but last year when activating my second US bank card they would not reallocate. The second line is considerably smaller than the first. They did however give me the same terms on my old card as on my new one. 0% 12 months and $0 fee. I ended up doing BTs on both cards. Annoying that I have to make 2 payments, but the due dates are the same.
This is the first time that I read something like this. I assume that you did not have any balance on the "old" card, right?
How did you approach them? Through retention (said that you wanted to close the old account?)
TIA for any details.
Still looking for data points on this. Anyone have experience with re-allocation or consolidating US bank cards to take advantage of 0% offers? You can request BT after approval without BT fees. It's been reported so for a while and I have done it myself as well. So it will be a huge advantage if you know how to approach on this with US BANK. Really curious here,too. A lot of discussion on US bank card thread but not a lot of definite answers.
If the balance transfer has to be completed at the time of application I don't see how combining the cards is an option.
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