Optimum order for 5 card apporama
I intend to apply for these 5 cards this week:
i. Chase Freedom ii. Discover It iii. Fidelity Investment Rewards iv. Nusenda platinum cash rewards v. Capital One Quicksilver Rewards My income is $120k/yr and my scores are: Penfed FICO NG 2: 814 DCU (EQ): 759 CK: 799 (TU), 803 (EQ) CS: 798 (TU) AAoA: 4yr. Last application: 10/2013 Questions: 1. Is the order of application correct/optimized for odds of approval? I really need the first 3, but perhaps the Fidelity one should be applied AFTER the Quicksilver to maximize BOTH begin approved? Should I swap ii and iv assuming Discover is not as strict as Capital One for Quicksilver while STILL getting approved for both? 2. What are the chances that I will be rejected by any of them because I am not a U.S. Citizen? 3. What are the chances that I will be rejected by any of them because I will be applying for all of them within a span of few minutes on same day? 4. How is recon for these cards? Which ones are very picky (Won't be applying for another Chase card in 2 years) 5. Would "send $ to a friend" through PayPal be a foolish way of meeting min spend on these credit cards? (Send as friend to room-mate and she withdraws to her bank?) |
The reasons for apporama's are mostly gone, because pulls from one bank are now visible to the next bank within minutes if not seconds. (Back when the concept of apporamas was created, it would takes hours or even a full day for a pull from one bank to be visible to the next bank. But technology has "improved".)
So given that, why bother rushing them together? |
Originally Posted by sdsearch
(Post 26160228)
So given that, why bother rushing them together?
Would you recommending doing these a few days apart? :confused: The idea is to get the applications running in multiple browser tabs and lots of copy paste since I will be entering the same information multiple times and having paystubs, DL, tax returns etc available at hand all at the same time. |
Copy paste? bother do you auto fill? There is no need to do tax return and stuff in CC apps.
Also, if you're new to credit card game, you want to rethink those credit cards. Except freedom, the rest are not the most optimal ones. |
Originally Posted by runb4fun
(Post 26160565)
Also, if you're new to credit card game, you want to rethink those credit cards. Except freedom, the rest are not the most optimal ones.
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1. Be a long, long time before I'd waste my time on a Discover Card. Discover's roots in the Sears credit card are still showing. No bonus for you!
2. Why not focus on other cards that provide big bonuses? 3. Agree with post above that apporamas are not so useful today. 4. Don't overthink things like app order. Look (say, around FT) for good deal bonus cards and apply as needed. |
+1 on several points above. App-o-ramas and ordering offer little benefit these days. If 1 HP is the straw that broke the camel's back for an approval then you had bigger issues with your credit profile than just a single HP.
Carefully reassess those cards. Why are you apping for a 1.5% card when you're also apping for a 2% card? While categories can change from year to year, would having both the Freedom and the It really help with rewards on your spend from looking at this year's calendars? Back up and start with your spend. Identify where the majority of it is going. Use that info to find cards that maximize rewards where the majority of your spend is going.
Originally Posted by newgraduate2013
(Post 26159302)
CK: 799 (TU), 803 (EQ)
The same consideration applies to any score. You must consider the specific scoring model and its relevance to a given creditor/product.
Originally Posted by newgraduate2013
(Post 26159302)
Penfed FICO NG 2: 814
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Thank you everyone.
Originally Posted by takeshi74
(Post 26163168)
If 1 HP is the straw that broke the camel's back for an approval then you had bigger issues with your credit profile than just a single HP.
My PenFed app required an interview because I had app'd for AmEx and CSP the same day before apping them. I chatted the underwriter up and they said it was better to not see any recent INQ, specially same day. Same is happening with Nusenda because they have manual review. Lots of questions about why I have 8 CCs already and when I am going to close a few etc. They will get back to me today.
Originally Posted by takeshi74
(Post 26163168)
Why are you apping for a 1.5% card when you're also apping for a 2% card?
Originally Posted by takeshi74
(Post 26163168)
While categories can change from year to year, would having both the Freedom and the It really help with rewards on your spend from looking at this year's calendars?
How is Freedom with portals? Is the Chase portal as good a deal as the Discover portal? |
Originally Posted by newgraduate2013
(Post 26159302)
1. Is the order of application correct/optimized for odds of approval? I really need the first 3, but perhaps the Fidelity one should be applied AFTER the Quicksilver to maximize BOTH begin approved? Should I swap ii and iv assuming Discover is not as strict as Capital One for Quicksilver while STILL getting approved for both?
You may want to consider the multiple browser trick.
Originally Posted by newgraduate2013
(Post 26159302)
2. What are the chances that I will be rejected by any of them because I am not a U.S. Citizen?
Originally Posted by newgraduate2013
(Post 26159302)
3. What are the chances that I will be rejected by any of them because I will be applying for all of them within a span of few minutes on same day?
This is why the multiple browser trick may work.
Originally Posted by newgraduate2013
(Post 26159302)
4. How is recon for these cards? Which ones are very picky (Won't be applying for another Chase card in 2 years)
Originally Posted by newgraduate2013
(Post 26159302)
5. Would "send $ to a friend" through PayPal be a foolish way of meeting min spend on these credit cards? (Send as friend to room-mate and she withdraws to her bank?)
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