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There has been a lot of discussion in the last 6 months about creditors closing accounts when they see something they don't like on your credit report.
I'd suggest reading AOR threads from 1-3 months ago to see what people report creditors are currently doing when they see a bunch of applications/new credit.
Thanks I will look into that. Although I remember months ago there were specifically a few threads that *Specialized on AOR Adverse reactions, which I seem to not be able to find right now.
I will post the link if I can find it, but anyone that would know please post the link.
ok I found the original threads. And if anyone has more updated adverse reaction threads, please post them here in order to centralize this information.
Its where someone got all his Citi Cards closed out because of an AOR. It was because of There was about 13 inquiries or so which triggered closure on Citi accounts. Someone referenced that Citi would like to see only 5 inquiries per year.
Which brings up the question... In order to avoid adverse reactions: How many inquires before we STOP applying for new credit? And also how many inquiries every 6 months? every year? How many new accounts before we STOP applying?
Please report your experience and suggestions on a good safe level of inquiries to maintain:....
Message edited by: letgetcc on 2009-09-02 19:02:15 CDT
i AORd back in February...generally successful, but i've experienced pretty massive AA since then. Citi closed everything (after BT taken), Chase CLDd every line, BankAtl CLDd both lines, Discover closed the Biz card, AM3X CLDd...only Simmons 1st, BofA, USBank, NatCity havent done some sort of AA.
IMO doing an AOR is a bit inefficient and too risky in this environment.
Only apply for a small number (e.g., handful) of cards that offer the following:
- 0% BT apr, and negligible fee, e.g., under $25, - ability to re-allocate from existing cards of the same issuer, - high probability for a large credit line.
If you scan the recent AOR threads, you will see that most applications end up being useless for various reasons, e.g., inability to reallocate, small credit line, etc.
solarUS said:i AORd back in February...generally successful, but i've experienced pretty massive AA since then...Green for your honest data point, thanks solarUS.
I guess I'd ask, why wouldn't that tsunami of AA lead you to conclude that your AOR wasn't "generally successful" after all? Not meant as a criticism, but as a genuine question.
DaveHanson said:solarUS said:i AORd back in February...generally successful, but i've experienced pretty massive AA since then...Green for your honest data point, thanks solarUS.
I guess I'd ask, why wouldn't that tsunami of AA lead you to conclude that your AOR wasn't "generally successful" after all? Not meant as a criticism, but as a genuine question.If the goal was to draw 0% BTs, he was successful - and subsequent account closures/credit line decreases dont take that away. Only if the AA negated the 0% promos (or if it occured prior to drawing the 0% money) would the success of the A0R be affected.
Of course, if a primary goal was to build a huge active credit portfolio, this result would be evaluated much differently.
I'd consider my 9/08 A0R successful, even though in the end I was blacklisted by BofA and US Bank (not to mention I completely abandoned my strategy in April, which resulted in paying off all my non-biz balances over 4 months early).
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