Is 10/1 ARM 3.125% a good deal in NY state# Living
s*n
1 楼
Sharing experience and tips here
Background: I did not apply for any credit card in 2012 due to refinance and
applied 9 cards in Jan 13, now it's time for another round of churn.
My thought process:
1) All banks except barclay (citi, amex, us bank, chase, Boa) pull experian
in my state. My strategy is to force them to pull other bureas using
freezing technique so that the credit impact is minimum.
2) I will also limit # of inquiries by having multiple applications with the
same bank during the same day
3) I want to limit the # of pernal accounts I open so that the drag on avg
account age is minimum. So I will go after business cards
Card selection:
Chase: I got Ink Bold, UA and BA in January. Will pass this time.
Amex: I got Platinum and Biz Gold in January. Thinking about SPG personal
and Biz. I also have a Biz Platinum with 50k points offer
Citi: I have 2 AA cards in January. I will apply for AA executive because I
want EQM to qualify for elite status (EXP). I will also apply for AA Biz.
US Bank: I got Cash+ in Jan. Need to wait 6 months.
Barclay: I got USAirway in Jan. Need to wait 6 months.
BoA: I will apply for Virgin Atlantic card. Not super excited about the
offer. But want to have my first card with BoA.
Approach:
I started with Citi cards because they are the one I want the most. Applied
AA Exec card on the phone (no online link for 50k offer) and was approved. I
was surprised Citi did not ask for my pin as my experian report is frozen.
Instead, Citi pulled my Equifax report. This is great news because nobody
pull EQ in my state. My AA Biz card was approved next day with another EQ
pull. I heard some people get 1 pull for 2 cards in 2 days. So this is YMMV
and I am not that lucky. But I couldn't care less about inquiries on EQ.
After citi, I applied the BoA card. It didn't go through as my experian is
frozen. I called the reconsideration line and convince the rep to pull TU
instead. I got the approval with a TU pull.
Lastly, I applied for 3 Amex cards. From my experience, Amex will not agree
to pull other bureaus in the reconsideration calls. I don't want to call 3
times for 3 cards. So I unfreeze my experian report for 7 days. Then
submitted 3 applications using 3 browsers. I got 1 instate approval and 2
pendings. But 2 pendings turned into approvals in several hours. So I am 3
for 3. The next day I checked my credit report and found all 3 EXP inquiries
were combined into one.
Results: 6 cards approved, 1 inquiry each for EXP, TU and 2 from EQ. This
should be minimum impact to my credit score. Only 3 of the 6 cards are
personal cards. So in a month, only 3 accounts will be posted to my credit
report. It sure be a very minor hit to my score.
Thoughts on July Churn:
By July, the January inquiries and new accounts will drop off in the past 6
months window. I will only have 1-2 inquires per bureau, and 3 new accounts
from April. I should be ready for another around of churn.
I don't plan to touch Citi and Amex unless there are amazing offers.
I will apply several cards from Barclay (USAir, NFL, and the new card with
40k points). All 3 TU inquiries should combined into one.
I will apply at least 1 card from Chase for sure, not sure about which one.
I want to apply for the 2 Club Carlson cards from US bank, but they have
rules about not wanting to see more than 2 new accounts in 6 months. I will
have 3. So this may be a problem. Any suggestions?
Background: I did not apply for any credit card in 2012 due to refinance and
applied 9 cards in Jan 13, now it's time for another round of churn.
My thought process:
1) All banks except barclay (citi, amex, us bank, chase, Boa) pull experian
in my state. My strategy is to force them to pull other bureas using
freezing technique so that the credit impact is minimum.
2) I will also limit # of inquiries by having multiple applications with the
same bank during the same day
3) I want to limit the # of pernal accounts I open so that the drag on avg
account age is minimum. So I will go after business cards
Card selection:
Chase: I got Ink Bold, UA and BA in January. Will pass this time.
Amex: I got Platinum and Biz Gold in January. Thinking about SPG personal
and Biz. I also have a Biz Platinum with 50k points offer
Citi: I have 2 AA cards in January. I will apply for AA executive because I
want EQM to qualify for elite status (EXP). I will also apply for AA Biz.
US Bank: I got Cash+ in Jan. Need to wait 6 months.
Barclay: I got USAirway in Jan. Need to wait 6 months.
BoA: I will apply for Virgin Atlantic card. Not super excited about the
offer. But want to have my first card with BoA.
Approach:
I started with Citi cards because they are the one I want the most. Applied
AA Exec card on the phone (no online link for 50k offer) and was approved. I
was surprised Citi did not ask for my pin as my experian report is frozen.
Instead, Citi pulled my Equifax report. This is great news because nobody
pull EQ in my state. My AA Biz card was approved next day with another EQ
pull. I heard some people get 1 pull for 2 cards in 2 days. So this is YMMV
and I am not that lucky. But I couldn't care less about inquiries on EQ.
After citi, I applied the BoA card. It didn't go through as my experian is
frozen. I called the reconsideration line and convince the rep to pull TU
instead. I got the approval with a TU pull.
Lastly, I applied for 3 Amex cards. From my experience, Amex will not agree
to pull other bureaus in the reconsideration calls. I don't want to call 3
times for 3 cards. So I unfreeze my experian report for 7 days. Then
submitted 3 applications using 3 browsers. I got 1 instate approval and 2
pendings. But 2 pendings turned into approvals in several hours. So I am 3
for 3. The next day I checked my credit report and found all 3 EXP inquiries
were combined into one.
Results: 6 cards approved, 1 inquiry each for EXP, TU and 2 from EQ. This
should be minimum impact to my credit score. Only 3 of the 6 cards are
personal cards. So in a month, only 3 accounts will be posted to my credit
report. It sure be a very minor hit to my score.
Thoughts on July Churn:
By July, the January inquiries and new accounts will drop off in the past 6
months window. I will only have 1-2 inquires per bureau, and 3 new accounts
from April. I should be ready for another around of churn.
I don't plan to touch Citi and Amex unless there are amazing offers.
I will apply several cards from Barclay (USAir, NFL, and the new card with
40k points). All 3 TU inquiries should combined into one.
I will apply at least 1 card from Chase for sure, not sure about which one.
I want to apply for the 2 Club Carlson cards from US bank, but they have
rules about not wanting to see more than 2 new accounts in 6 months. I will
have 3. So this may be a problem. Any suggestions?
