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Old Mar 19, 2011 | 12:32 am
  #16  
 
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Another data point with Chase.
I got two cards within 40days.
First one approved 14days after application, second was approved 2days after application.
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Old Mar 19, 2011 | 6:51 am
  #17  
 
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Lucky man, I wouldn't pull that with chase lately.
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Old Mar 19, 2011 | 2:34 pm
  #18  
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Would people recommend applying for 6 or more cards in a 1-2 week period? (various airlines and credit card providers)
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Old Mar 19, 2011 | 2:53 pm
  #19  
 
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Originally Posted by greenythebeast
Would people recommend applying for 6 or more cards in a 1-2 week period? (various airlines and credit card providers)
With a 680 credit score and a bunch of inquires, no. With a 750+ and a few inquires, it should be fine.

I have around a 790 FICO and I try to keep the apps to around 5-6 per year. Any more than 10-12 in a two year period and I stop applying until some fall off. YMMV
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Old Mar 19, 2011 | 2:56 pm
  #20  
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Originally Posted by TTBHG
With a 680 credit score and a bunch of inquires, no. With a 750+ and a few inquires, it should be fine.

I have around a 790 FICO and I try to keep the apps to around 5-6 per year. Any more than 10-12 in a two year period and I stop applying until some fall off. YMMV
My credit karma score says 750, not sure how accurate that is. I've applied for an AA, CO, UA, and USAir over the past 2 weeks. Been approved for 3/4 so far (still waiting on UA). Want to try for a Jetblue and Delta perhaps.

Also, TTBHG did you see my message in the Delta card thread?
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Old Mar 19, 2011 | 2:59 pm
  #21  
 
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I just posted a reply it that thread for you.

Which one of the cards were you denied for? If you got three out of four and really want to app for the last two, at this point I would probably just do it and take the extra little hit.
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Old Mar 19, 2011 | 3:06 pm
  #22  
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Originally Posted by greenythebeast
My credit karma score says 750, not sure how accurate that is. I've applied for an AA, CO, UA, and USAir over the past 2 weeks. Been approved for 3/4 so far (still waiting on UA). Want to try for a Jetblue and Delta perhaps.

Also, TTBHG did you see my message in the Delta card thread?
A couple of data points on credit karma:

My scores: Transunion FICO 756
Credit Karma 764

Spouse: Transunion FICO 793
Credit Karma 762

Credit Karma is an estimate of the Transunion score. To get real FICO's, go to myFICO.com. Check on www.creditboards for discount codes to myFICO.com. Note: I don't endorse that site but I have used them on occasion. It costs approx $20/bureau to get FICO's before discount codes. They aren't able to give you Experian scores, one has to buy Experian's "Vantage" score (different scale) to get a score. I do get my approx FICO from Chase for having certain accounts.

Bottom line: Credit Karma is an approximation of FICO. There are many different versions of FICO's. (auto enhanced, credit card enhanced, etc)
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Old Mar 19, 2011 | 3:07 pm
  #23  
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I wasn't denied for the UA card, it's still being processed.
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Old Mar 19, 2011 | 3:16 pm
  #24  
 
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Originally Posted by greenythebeast
I wasn't denied for the UA card, it's still being processed.
Did you apply CO first then UA? then this pending probably because of CO application. I heard about it from Chase CSR if somebody apply two cards within 30days second one usually denied. However, I saw many people eventually get approved by calling. So good luck~
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Old Mar 19, 2011 | 3:24 pm
  #25  
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Originally Posted by andante81
Did you apply CO first then UA? then this pending probably because of CO application. I heard about it from Chase CSR if somebody apply two cards within 30days second one usually denied. However, I saw many people eventually get approved by calling. So good luck~
I applied for CO first, was instantly approved. Then applied for UA 4 days later. Looks like they pulled by Experian report which has a score of 747. If I am denied, I should just call them and possibly move around some credit limit or what would you suggest?
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Old Mar 19, 2011 | 3:35 pm
  #26  
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Hmm, very odd problem with my credit score. Just took out a trial of Experian and Equifax services that report credit scores. The Experian free trial says my credit score is 747. However, the Equifax score report (which has all 3) says my Experian score is 690!!! :O Anyone know what would cause this to happen. Both reports made on same day.
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Old Mar 19, 2011 | 4:17 pm
  #27  
 
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No, be selective and cherry pick offers. Card issuers at that rate rate might waste your time issuing you a second tier card instead of the first tier one whose bonus you are chasing. Send tier cards are a waste of credit pulls and often have no bonus.

Originally Posted by greenythebeast
Would people recommend applying for 6 or more cards in a 1-2 week period? (various airlines and credit card providers)
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Old Mar 20, 2011 | 10:20 am
  #28  
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Originally Posted by greenythebeast
Hmm, very odd problem with my credit score. Just took out a trial of Experian and Equifax services that report credit scores. The Experian free trial says my credit score is 747. However, the Equifax score report (which has all 3) says my Experian score is 690!!! :O Anyone know what would cause this to happen. Both reports made on same day.
Contrary to popular belief there is not one credit score. There are actually several FICO algorithms at each bureau that are tuned for the way that bureau receives and records information,and were developed at certain points in time. Your credit score is only indicative of the information used to score at that moment in time, and will vary from bureau to bureau, from score to score, and over time. Most furnishers of data report information such as payment history and credit line to each bureau at the same time, but inquiries (which are definitely used in the score as a measure of risk) may not be posted to each bureau since there is a cost incurred by the creditor and consent needed by the credit seeker to obtain the bureau. Each bureau has to pay a royalty to FICO each time the score is run so thay have built their own scores, eg Transunion Risk Score, Experian etc. They are real credit scores and are used by many institutions for credit decisions. FICO would like all of us to believe that they are the only real score so they can retain their monopoly- (that is why you dont get FICO for free and it is more expensive to provide to you than other scores.

To make things more complicated, credit issuers can deny for credit reasons, like score or deliq reasons or for policy reasons such as they only allow for x number of cards per person. In the latter case, those checks are usually performed prior to a bureau request, so there is no cost to the company and no impact to the score of the applicant.

Your specific question about how this could happen is because even though it is the same day, each service may be using data that is not identical and score algorithms that are not identical. And if you apply for credit even on that same day, the score and data used to make that decision will not be identical to what is used in the report, and it will be difficult to match it to the information you are seeing. It is a fluid system that is constantly taking in information from many sources, managed separately and independently by the three bureaus.

I would request your free credit reporton from one bureau now, wait a few months and get one from another bureau, and review it to ensure that everything is accurate.
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Old Mar 20, 2011 | 12:55 pm
  #29  
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Originally Posted by greenythebeast
Would people recommend applying for 6 or more cards in a 1-2 week period? (various airlines and credit card providers)
No - but I would recommend getting 6 or more cards on the same day as long as your credit scores can take it. By spreading the apps out over 2 weeks, you are only lowering the chances that you'll get the last cards for which you apply.
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Old Mar 20, 2011 | 1:04 pm
  #30  
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Originally Posted by jamesjim1k
I am a mortgage broker in illinois. Generally, when you go to get a mortgage the bank wants to see 4 open trade lines on your credit report. A single additonal credit card will only cost you a 10 point drop in your score for the inquiry and the new card.
Blanket statements like that are usually incorrect and misleading. A single inquiry will likely impact an 800 score much less than it will impact a 550 score.

The inquiry will probably cost anyone at least a few points, but the new card can actually increase one's score due to a drop in utilization.
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