679 Score - Planning to travel in less than a year. - How do I go about churning?
Oct 1, 2014, 5:53 am
#17
Join Date: Jul 2001
Location: DTW
Programs: Dirt Status w/ All
Posts: 5,040
As for the OP, you are probably ready to dip your toes in the water and see what happens. Go for your #1 and #2 card to start. Best case you get approved. Worst case you get denied and your score drops ~10 points due to the hard pulls (and this may not affect all three bureaus, depending on who they decide to pull). If you get denied, wait six months so the hard pulls age and clean up other parts of your report. Credit Karma can help see the trends in your score, but in no way take their number as gospel. I have seen my true score and CK 100 points apart, and have never seen it higher than my true score. Average is probably my true score is CK+50. My personal conspiracy theory is that these free services (and even the paid FAKO) intentionally model your score to be lower than actual so you keep paying for their services thinking you need them to improve your credit. No evidence on that other than my own data points though.
Oct 1, 2014, 8:02 am
#18
Join Date: Apr 2007
Posts: 1,857
Credit Karma also offers a Vantage score (500 to 990 scale). What do you have there? Also, sign up for Credit Sesame (free) and see what they give you.
You may well need to actually buy your FICO score to see what it is, and how good/bad your situation is. At your current score, you're going to have to be very careful churning. You definitely can't do the 3 rounds of 4 you've proposed.
As has been mentioned, we need more info. What's your history like? Any other cards or accounts in your past? Any reason your score is so low? Have you been denied for credit before? CK should give you pretty much all of this information - past accounts, AAoA, utilization, late payments, derogatory remarks, etc.
You may well need to actually buy your FICO score to see what it is, and how good/bad your situation is. At your current score, you're going to have to be very careful churning. You definitely can't do the 3 rounds of 4 you've proposed.
As has been mentioned, we need more info. What's your history like? Any other cards or accounts in your past? Any reason your score is so low? Have you been denied for credit before? CK should give you pretty much all of this information - past accounts, AAoA, utilization, late payments, derogatory remarks, etc.
Oct 1, 2014, 9:54 am
#19
Join Date: Feb 2006
Programs: HH Gold (again), US/UA/DL non-elite, ZE Presidents Circle, WN reluctant no fee convert.
Posts: 1,449
Churning and looking for mortgages/low loan rates do not go together. If you will be shopping for a mortgage, you should back way off on churning. If you are not shopping for a mortgage, might as well abuse that good credit score for profit.
Of course there is no exact answer. I've opened 10 cards this year with nine approvals (got sloppy and hit Chase too soon) for about $90K of new credit. The 9th was a PenFed visa for 5% gas and a true chip and pin card, instant approved for $5500 in August. Every week I get e-mails practically begging me to take my pre-approved $35K car loan at sub 2% - even though I already have a car loan with them for $27K. Last app was a Chase Southwest card on a whim to grab 50K points. Instantly approved for $15K, even though I have about 70% utilization on a Chase Slate with a 0% BT. Seems that the banks are willing to overlook my 725 FICO (670 FAKO) and other shenanigans since I am a long established customer with a perfect payment record.
Of course there is no exact answer. I've opened 10 cards this year with nine approvals (got sloppy and hit Chase too soon) for about $90K of new credit. The 9th was a PenFed visa for 5% gas and a true chip and pin card, instant approved for $5500 in August. Every week I get e-mails practically begging me to take my pre-approved $35K car loan at sub 2% - even though I already have a car loan with them for $27K. Last app was a Chase Southwest card on a whim to grab 50K points. Instantly approved for $15K, even though I have about 70% utilization on a Chase Slate with a 0% BT. Seems that the banks are willing to overlook my 725 FICO (670 FAKO) and other shenanigans since I am a long established customer with a perfect payment record.
BTW, free tip.
If you are a multiple Chase card holder and you also have a SLATE, take a hit in your other Chase CLs and transfer CL portions over to Slate. Especially if the Slate is the current balance 0% go to account that is now stagnant. While you are paying off your other cards, month to month, you'll be reducing your CL utilization there and improving the credit score for better future planning.
Last edited by jan_believes; Oct 1, 2014 at 10:16 am
Oct 1, 2014, 10:04 am
#20
Join Date: Feb 2006
Programs: HH Gold (again), US/UA/DL non-elite, ZE Presidents Circle, WN reluctant no fee convert.
Posts: 1,449
I think the problem is with using the "churner" reference.
Seems to me, the OP simply wants to plan a trip. How extravagant it should be is in his mind, and ultimately will require a plan that may adjust as he embarks upon this credit line/card journey for points, miles, CB. Ultimately, it comes down to management to make it happen.
Getting away from churning for a minute, if you want to get a card with that CS and take a quick hit until utilization kicks in (use it for the bonus, pay it off, sock drawer it), go for Chase Freedom. This doesn't advance your travel hopes but opens the way to get to the travel cards you want to achieve your ultimate goal. Then, move on to Amex travel rewards or United MP/Citi AA or Barclay Arrival. Even US MC is fairly easy right now but remember the merger will play a role soon.
BTW, I say Chase Freedom, based on experience. There are other similar quick bonus cards out there, but others will have to share their experiences. I have to say Chase has been easier than I could have imagined. I can't speak to Sapphire. I have wanted it but haven't been approved (but I have A LOT of Chase cards).
PS. One thing that is overlooked is that I think banks are almost giving away credit cards right now because the market for them is not producing the profits they had during the housing bubble. They are going for the profits through consumers hoping to snag the interest profits long term. That, of course, is avoidable by the consumer. So, lower credit scores are also winning in the game because they are approving applicants with the long term standard APRs of 19.99% and higher. They think it will work even with a 0% APR intro.
Seems to me, the OP simply wants to plan a trip. How extravagant it should be is in his mind, and ultimately will require a plan that may adjust as he embarks upon this credit line/card journey for points, miles, CB. Ultimately, it comes down to management to make it happen.
Getting away from churning for a minute, if you want to get a card with that CS and take a quick hit until utilization kicks in (use it for the bonus, pay it off, sock drawer it), go for Chase Freedom. This doesn't advance your travel hopes but opens the way to get to the travel cards you want to achieve your ultimate goal. Then, move on to Amex travel rewards or United MP/Citi AA or Barclay Arrival. Even US MC is fairly easy right now but remember the merger will play a role soon.
BTW, I say Chase Freedom, based on experience. There are other similar quick bonus cards out there, but others will have to share their experiences. I have to say Chase has been easier than I could have imagined. I can't speak to Sapphire. I have wanted it but haven't been approved (but I have A LOT of Chase cards).
PS. One thing that is overlooked is that I think banks are almost giving away credit cards right now because the market for them is not producing the profits they had during the housing bubble. They are going for the profits through consumers hoping to snag the interest profits long term. That, of course, is avoidable by the consumer. So, lower credit scores are also winning in the game because they are approving applicants with the long term standard APRs of 19.99% and higher. They think it will work even with a 0% APR intro.
Last edited by jan_believes; Oct 1, 2014 at 10:17 am
Oct 3, 2014, 8:00 am
#21
Join Date: Jul 2001
Location: DTW
Programs: Dirt Status w/ All
Posts: 5,040
What you said about Chase Slate and utilization: Thank you. That encourages me to go for the GOLD on another WN VISA. I've had great hesitation.
BTW, free tip.
If you are a multiple Chase card holder and you also have a SLATE, take a hit in your other Chase CLs and transfer CL portions over to Slate. Especially if the Slate is the current balance 0% go to account that is now stagnant. While you are paying off your other cards, month to month, you'll be reducing your CL utilization there and improving the credit score for better future planning.
BTW, free tip.
If you are a multiple Chase card holder and you also have a SLATE, take a hit in your other Chase CLs and transfer CL portions over to Slate. Especially if the Slate is the current balance 0% go to account that is now stagnant. While you are paying off your other cards, month to month, you'll be reducing your CL utilization there and improving the credit score for better future planning.
Oct 31, 2014, 9:57 am
#22
Original Poster
Join Date: Sep 2014
Location: Columbus OH
Programs: IHG, Marriott, Carlson, AAdvantage, BC US Air, CapitalOne VentureOne
Posts: 37
Sorry about the extremely late response, but I really do appreciate all the advice... Despite the fact that I'm stubborn and bull headed and I've went against most of it. My wife says that I have only child syndrome. I always cry and stomp my feet until I get what I want. lol
Results:
It turns out that I have lucked out! (maybe my CK score was lower than actual)
I applied for 5 cards and got approved for all:
-Barclays US Air
-Chase Marriott Rewards
-US Bank Club Carlson
-Citi AAdvantage
-Capital One VentureOne
That initially dropped my CK score from 679 to 670. Then I figured out why my score was so low. I had a $20 late payment that had been floating for about 6 months that I had NO clue about on a 0% interest Firestone card I opened and paid off in full 1 day late, to repair my car. I called the creditor and they promised to remove the hit from my credit reports.
After that, my CK score rocketed up to 754. Since then it has fallen to 747.
All this success is really encouraging. My original plan was to do 2 more 5 card AOR's. But, now I am wondering if I should try for even more cards on my next AOR? I will definitely be applying for better cards next time, that's for sure.
I know people have told me that I need a solid travel plan. Unfortunately, that's against my leisure travel methodology. I refuse! I like to plan things by the seat of my pants as much as possible. I hate pre-planned trips. I do have regions of the world that I plan to spend time in. Mainly, eastern europe, SE Asia and South America. So, my plan is to use a nice variety of airlines cards that are part of the large alliances and hotel cards that are international. Also, I plan to sign up for the bank cards with transferable rewards.
Thanks for all the responses. But, my questions have now changed. My main question is, how many cards should I go for next AOR?
Results:
It turns out that I have lucked out! (maybe my CK score was lower than actual)
I applied for 5 cards and got approved for all:
-Barclays US Air
-Chase Marriott Rewards
-US Bank Club Carlson
-Citi AAdvantage
-Capital One VentureOne
That initially dropped my CK score from 679 to 670. Then I figured out why my score was so low. I had a $20 late payment that had been floating for about 6 months that I had NO clue about on a 0% interest Firestone card I opened and paid off in full 1 day late, to repair my car. I called the creditor and they promised to remove the hit from my credit reports.
After that, my CK score rocketed up to 754. Since then it has fallen to 747.
All this success is really encouraging. My original plan was to do 2 more 5 card AOR's. But, now I am wondering if I should try for even more cards on my next AOR? I will definitely be applying for better cards next time, that's for sure.
I know people have told me that I need a solid travel plan. Unfortunately, that's against my leisure travel methodology. I refuse! I like to plan things by the seat of my pants as much as possible. I hate pre-planned trips. I do have regions of the world that I plan to spend time in. Mainly, eastern europe, SE Asia and South America. So, my plan is to use a nice variety of airlines cards that are part of the large alliances and hotel cards that are international. Also, I plan to sign up for the bank cards with transferable rewards.
Thanks for all the responses. But, my questions have now changed. My main question is, how many cards should I go for next AOR?
Oct 31, 2014, 10:12 am
#23
Join Date: Jul 2013
Location: DFW,OVB (Russia)
Programs: AA HH Gold SPG Gold BA
Posts: 1,823
Sorry about the extremely late response, but I really do appreciate all the advice... Despite the fact that I'm stubborn and bull headed and I've went against most of it. My wife says that I have only child syndrome. I always cry and stomp my feet until I get what I want. lol
Results:
It turns out that I have lucked out! (maybe my CK score was lower than actual)
I applied for 5 cards and got approved for all:
-Barclays US Air
-Chase Marriott Rewards
-US Bank Club Carlson
-Citi AAdvantage
-Capital One VentureOne
That initially dropped my CK score from 679 to 670. Then I figured out why my score was so low. I had a $20 late payment that had been floating for about 6 months that I had NO clue about on a 0% interest Firestone card I opened and paid off in full 1 day late, to repair my car. I called the creditor and they promised to remove the hit from my credit reports.
After that, my CK score rocketed up to 754. Since then it has fallen to 747.
All this success is really encouraging. My original plan was to do 2 more 5 card AOR's. But, now I am wondering if I should try for even more cards on my next AOR? I will definitely be applying for better cards next time, that's for sure.
I know people have told me that I need a solid travel plan. Unfortunately, that's against my leisure travel methodology. I refuse! I like to plan things by the seat of my pants as much as possible. I hate pre-planned trips. I do have regions of the world that I plan to spend time in. Mainly, eastern europe, SE Asia and South America. So, my plan is to use a nice variety of airlines cards that are part of the large alliances and hotel cards that are international. Also, I plan to sign up for the bank cards with transferable rewards.
Thanks for all the responses. But, my questions have now changed. My main question is, how many cards should I go for next AOR?
Results:
It turns out that I have lucked out! (maybe my CK score was lower than actual)
I applied for 5 cards and got approved for all:
-Barclays US Air
-Chase Marriott Rewards
-US Bank Club Carlson
-Citi AAdvantage
-Capital One VentureOne
That initially dropped my CK score from 679 to 670. Then I figured out why my score was so low. I had a $20 late payment that had been floating for about 6 months that I had NO clue about on a 0% interest Firestone card I opened and paid off in full 1 day late, to repair my car. I called the creditor and they promised to remove the hit from my credit reports.
After that, my CK score rocketed up to 754. Since then it has fallen to 747.
All this success is really encouraging. My original plan was to do 2 more 5 card AOR's. But, now I am wondering if I should try for even more cards on my next AOR? I will definitely be applying for better cards next time, that's for sure.
I know people have told me that I need a solid travel plan. Unfortunately, that's against my leisure travel methodology. I refuse! I like to plan things by the seat of my pants as much as possible. I hate pre-planned trips. I do have regions of the world that I plan to spend time in. Mainly, eastern europe, SE Asia and South America. So, my plan is to use a nice variety of airlines cards that are part of the large alliances and hotel cards that are international. Also, I plan to sign up for the bank cards with transferable rewards.
Thanks for all the responses. But, my questions have now changed. My main question is, how many cards should I go for next AOR?
Up to you , but you should always start slow and for a little while just use a particular card for daily use and build some positive history over some time, and go from there
Oct 31, 2014, 12:22 pm
#24
Join Date: Apr 2014
Location: MDT
Programs: DL, AA
Posts: 390
I know people have told me that I need a solid travel plan. Unfortunately, that's against my leisure travel methodology. I refuse! I like to plan things by the seat of my pants as much as possible. I hate pre-planned trips. I do have regions of the world that I plan to spend time in. Mainly, eastern europe, SE Asia and South America. So, my plan is to use a nice variety of airlines cards that are part of the large alliances and hotel cards that are international. Also, I plan to sign up for the bank cards with transferable rewards.
Oct 31, 2014, 12:35 pm
#25
Original Poster
Join Date: Sep 2014
Location: Columbus OH
Programs: IHG, Marriott, Carlson, AAdvantage, BC US Air, CapitalOne VentureOne
Posts: 37
I know for several people if they're planning on using award flights (using miles) they start planning 330 days in advance to see if they're awards will open up. You might be disappointed if you accumulate enough miles, but decide you want to go on a trip in a month, and then can't use the miles to find an award. Just a heads up.
Oct 31, 2014, 1:36 pm
#26
Join Date: Apr 2014
Location: MDT
Programs: DL, AA
Posts: 390
Yeah, I absolutely have that in mind. I'll just plan my travel around the availability and remain 100% flexible. I'm assuming with a couple of weeks notice, I will be able to use the rewards to go somewhere/anywhere. Even if it's not the destination that I had in mind. No big deal. I'm kind of going into this trip with the mindset that I'd enjoy going anywhere that isn't likely to become a war zone.
Oct 31, 2014, 1:40 pm
#27
Original Poster
Join Date: Sep 2014
Location: Columbus OH
Programs: IHG, Marriott, Carlson, AAdvantage, BC US Air, CapitalOne VentureOne
Posts: 37
Ahh, now that is annoying. Thanks for that heads up. I had no idea. Maybe I'll be lucky enough to book them for my initial departure, which we will be able to plan out well in advance.
Nov 1, 2014, 8:23 am
#28
Join Date: Mar 2008
Location: NYC, PHL, WAS
Programs: UA, AA, BA, DL
Posts: 431
Sorry about the extremely late response, but I really do appreciate all the advice... Despite the fact that I'm stubborn and bull headed and I've went against most of it. My wife says that I have only child syndrome. I always cry and stomp my feet until I get what I want. lol
Results:
It turns out that I have lucked out! (maybe my CK score was lower than actual)
I applied for 5 cards and got approved for all:
-Barclays US Air
-Chase Marriott Rewards
-US Bank Club Carlson
-Citi AAdvantage
-Capital One VentureOne
That initially dropped my CK score from 679 to 670. Then I figured out why my score was so low. I had a $20 late payment that had been floating for about 6 months that I had NO clue about on a 0% interest Firestone card I opened and paid off in full 1 day late, to repair my car. I called the creditor and they promised to remove the hit from my credit reports.
After that, my CK score rocketed up to 754. Since then it has fallen to 747.
All this success is really encouraging. My original plan was to do 2 more 5 card AOR's. But, now I am wondering if I should try for even more cards on my next AOR? I will definitely be applying for better cards next time, that's for sure.
I know people have told me that I need a solid travel plan. Unfortunately, that's against my leisure travel methodology. I refuse! I like to plan things by the seat of my pants as much as possible. I hate pre-planned trips. I do have regions of the world that I plan to spend time in. Mainly, eastern europe, SE Asia and South America. So, my plan is to use a nice variety of airlines cards that are part of the large alliances and hotel cards that are international. Also, I plan to sign up for the bank cards with transferable rewards.
Thanks for all the responses. But, my questions have now changed. My main question is, how many cards should I go for next AOR?
Results:
It turns out that I have lucked out! (maybe my CK score was lower than actual)
I applied for 5 cards and got approved for all:
-Barclays US Air
-Chase Marriott Rewards
-US Bank Club Carlson
-Citi AAdvantage
-Capital One VentureOne
That initially dropped my CK score from 679 to 670. Then I figured out why my score was so low. I had a $20 late payment that had been floating for about 6 months that I had NO clue about on a 0% interest Firestone card I opened and paid off in full 1 day late, to repair my car. I called the creditor and they promised to remove the hit from my credit reports.
After that, my CK score rocketed up to 754. Since then it has fallen to 747.
All this success is really encouraging. My original plan was to do 2 more 5 card AOR's. But, now I am wondering if I should try for even more cards on my next AOR? I will definitely be applying for better cards next time, that's for sure.
I know people have told me that I need a solid travel plan. Unfortunately, that's against my leisure travel methodology. I refuse! I like to plan things by the seat of my pants as much as possible. I hate pre-planned trips. I do have regions of the world that I plan to spend time in. Mainly, eastern europe, SE Asia and South America. So, my plan is to use a nice variety of airlines cards that are part of the large alliances and hotel cards that are international. Also, I plan to sign up for the bank cards with transferable rewards.
Thanks for all the responses. But, my questions have now changed. My main question is, how many cards should I go for next AOR?
Nov 1, 2014, 11:05 am
#29
Original Poster
Join Date: Sep 2014
Location: Columbus OH
Programs: IHG, Marriott, Carlson, AAdvantage, BC US Air, CapitalOne VentureOne
Posts: 37
If you went against most posters advice before, I fail to see what incentive posters have to give more of it particularly given you haven't given much by way of background information. A nice variety of airline cards that are part of the large alliances? That hardly narrows the field.