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
Message edited by: zxx7x on 2009-09-07 17:01:29 CDT
To enter a coupon code in your post please enter the following info:
Coupon Code:
Coupon Offer:
Merchant:
Expires (optional):
Restrictions (optional):
saving...
Quick Summary is created and edited by users like you... Add FAQ's, Links and other Relevant Information by clicking the edit button in the lower right hand corner of this message.
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
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.
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.
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.
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).
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.
Disclaimer: By providing links to other sites, FatWallet.com does not guarantee, approve or endorse the information or products available at these sites, nor does a link indicate any association with or endorsement by the linked site to FatWallet.com.
