I truly appreciate the way you take your time to explain and articulate every point. Even kuku head like mine can comprehend lol . Thank you my friend.
for Amex charge cards, if people are really not a fan of annual fee, I will think it is logical to cancel them, while have an Amex everyday card with no annual fees to keep the membership points. Amex everyday card holders are still able to use transfer partners and the booking trips through AmexTravel if your incomes and your daily spends are high enough to use one of the charge cards, I think the Gold card looks to be the good keeper for general folks who do like to travel from time to time or have to be with your big family once or twice annually, even just domestic short trips. The travel perks are nice to have, and you can regularly get extra points through more regular expanses other than booking through AmexTravel (Platinum) (I have really just started applying and using credit cards 9-10 months ago, and I just applied for the Amex everyday 3-4 months ago, so I am no expert in terms of experience)
Can you explain point number 5 .. I know that the bureau will merge multiple pulls from same issuers if you apply for multiple cards of the same bank .. but not sure about them not seeing each other inquires cause typically I receive a notification about an inquiry when I apply instantly and I can view my updated report with the inquiry on it.
No problem. From what I understand, the actual credit check/pull takes a day or two for it to show up on the official credit reports. When the issuer receives your application, they tend to get an automatic credit rating and profile for you, which they use for the decision. For some reason, they don't see or count other pulls if they are close to one another. I don't know if their system is just slow to update, or if the credit inquiry is "pending" until it actually posts onto your account (much like a credit purchase is pending until it is confirmed and posted). Either way, the "app-o-rama" trick works really well, and has been a tactic used by points & miles collectors to get a lot of cards in a short period of time. 🤓
Awesome will definitely consider applying for all cards that pull the same bureau around the same hour or day .. so do you know which issuers will lead to a hard pull combine if you submit more than one app with them ?
Actually, I don't recommend applying for more than one card from the same issuer at the same time. Instead, I would focus on cards from different issuers. Though it's not impossible to get multiple cards approved at once from the same issuer, I think most will find it suspicious and high risk. I found a good Travel Codex article that might be helpful too: travelcodex.com/a-new-and-better-way-to-app-o-rama/
Good tips, thanks a lot! At 03:24 you advised to call "Reconsideration Line". Well I do not think Capital One has such. I submitted request online for credit line increase and got "Unfortunately, your account isn't eligible ... . I called customer service and was told i cant speak to anyone, such info is private, refereed me to Doc center on their website. Awful service and I hate Capital One from now on.
Good to know. Thanks for sharing. It's been a while since I've had a Capital One card, and I didn't realize that they don't have a reconsideration line. That's very annoying! 😬
I’m looking at going for the Amex Plat and one additional card in January. I’m thinking of Ink or maybe a Hyatt or SPG. Great info as always! I’ll be doing my apporama in Jan! Lol
Happy Thanksgiving! I'm also looking at the Amex Platinum, but waiting for a 100K offer. The Ink Business Preferred is also a great choice, especially with the 80K bonus. 😊
I applied for 2 Chase cards on the same day... wish I would of saw this video first! Got denied for the second card because of the inquiry... Next time!
Sorry to hear that! It's not a hard rule, but it does seem like the chances of approval for multiple cards from the same issuer is much less when applying all at once. Though I've been surprised to hear about folks breaking the rules and still getting an approval. 🤓
How many cards should I have? I have like 5 credit cards already. All from 2 years ago, I am ready for a new credit card, but it is a ideal thing to do for having so many credit cards??
It's hard to say. I have 17 myself, and four that I barely use (but keep open in order to maintain the credit history). People generally recommend not closing credit card accounts since it will reduce your credit score (since your total available credit will go down). However, it really depends on what your overall credit card approach and strategy. 🤓
Thanks a lot, I will do this very informative videos that you shared, I subscribed and like and ring the bell for more videos coming and share also. God bless
There's isn't a hard rule when it comes to the number of inquiries. However, issuers tend to see a lot of hard inquiries as a sign of credit risk. Depending on your credit score and situation, it might not be a big deal. However, if you're just starting out, I would try to minimize them before applying for new cards.
Hey, I am about to apply for my bank's CC and discover's CC sometime in Mid-Jan. Is it still best to apply for them at the same time? The bank, I will have to fill out in paper because the online is bugged when it gets to income. Discover I can apply online.
It’s hard to say since it depends how soon your bank runs a credit check. If it’s the same day or even the next day, then it definitely makes sense to apply for the other card at the same time. My guess is that they probably take the information you provide on the form and plug it into a computer. It might be worth asking your banker how soon you can get a decision on your card. If he/she says the same day, then its likely they’ll run the credit check at the bank as soon as you complete the paperwork. 🤓
@@TripAstute Well I got lucky ... I applied for both cards and the bank only looked at experian for the report (accepted within 2 hours) and discover looked at equifax report (applied yesterday and called today and said approved). Thanks though. :)
Did the app-o-rama a month ago with AmEx bce, Chase FU and Wells Fargo rewards minutes apart and got approved from all 3. I’ve been getting pre-approved from delta AmEx platinum lately with 80,000 bonus miles after spending $3,000 in 90 days. Hopefully they still have that offer come February 2018, I’ll be applying for sure, planning to travel next year.
Your videos are really helpful. Could you please answer my question. I m just a beginner in credit card things. I had 5 years & 2 month credit history with 2 cards before. Then, I applied 2 credit cards at the same time 6 mth ago with my friend’s advice. I got approved. But right now, my age of credit is down to 2 years and 10 mths. Currently, I have 776 credit score. I want to apply BOFA travel credit card with no annual fee cos I have travel plan. But now, I am reluctant to apply. Although I have good credit score, I don’t have good age of credit. Plus, if I got approval, my credit age would be 6 month. So, should I apply right now or wait? And should I apply 2 cards at a time again or just one card in terms of credit age. Thank you so much.
Thanks for the feedback! Glad the videos are helpful. It's a tough call whether you should wait or apply. Since you're waiting 6 months between applications, I think you're probably safe to apply. If you're concerned about credit age, I would probably only apply for one card to reduce the impact on your score and history. Also, I think a lot of people feel like they need to get as many cards possible before offers go away. However, I always tell people that there will always be new cards and offers available, so definitely don't feel like you need to get every card now. I think it's worth pacing yourself when you're in the hobby (even though the struggle is real)! 😆
Thanks for replying right away. I am gonna wait 6 more months for that credit card. I'll go for one card this time. Not two. 😁 And thanks for your advice too. 🙏
736 TransUnion 739 Equifax and 623 Experian 1 derogatory Mark from about 2 Years ago. Can I apply for the chase freedom AND or Amex everyday blue card ?
It's a tough question since there are a lot of factors that need to be considered other than your credit score (e.g., how many cards have you applied for in the last two years, current available credit, income, etc.). WalletHub says that a score of 750 is recommended for the Chase Freedom, so it might be risky to apply for it now. It looks like the AMEX Everyday Blue Cash card is a bit less stringent when it comes to approvals. Definitely check out WalletHub's advice for more info: - Chase Freedom: wallethub.com/answers/chase-freedom-credit-score-2140599660/ - AMEX Blue Cash: wallethub.com/answers/blue-cash-everyday-credit-score-requirement-2140665588/ Just be careful with Chase as they tend to be most strict. Make sure you check out our 5/24 and 2/30 video too, since their approval rules and guidelines are fairly complex.
Trip Astute man 750 Experian score That’s really discouraging to hear especially because the adverse Account I have is fraudulent. Working Hard to dispute it I’ve had a capital one credit card for the last year and I’m currently an authorized user on another card so I’ve been working really hard. Do you think if I apply and I get denied the recon line would help me at all if I better explain my situation?
It might help, but honestly, I wouldn't rush it (especially with Chase). If you do decide to get more premium cards in the future (like the Chase Sapphire Reserve), you want to avoid having any discrepancies during the approval process (and any additional inquiries). If you don't think you'll want a more premium card, then it could be worth trying for. But I would wait until the adverse account is resolved before applying. Sorry! I wish I had more encouraging advice. I think I tend to edge more on side of being careful than aggressive with credit card applications.
How do credit card companies check the income you stated is true? I've heard lots of people just put down the minimum requirement for the amount of income for that credit card and get approved right away.
It's a good question. From what I understand, it's strictly based on stated income (i.e., they don't verify your income). However, if something seems off about the applicant's profile during underwriting, they may ask for additional verification.
I have a question.. I applied to a pre qualified card n I got a pop up saying we don't have any pre qualified cards at this time for you.. do that mean I'm not qualified for that card n should I wait to apply for the card
It's hard to say. Sometimes the pre-approval is based on a cookie on your browser. Were you logged into your account, or did it pop up on the public page of the issuer? If it's the latter, then the issuer is less likely to honor the pre-qualification.
I believe it was that cookie shit .. but my wife applied for the amex gold and got approved so I'm going to get added on as a AU. Once that happens I will apply for a amex card myself.. I should be okay once I become an AU..
I applied for 3 cc 5 days ago, my Credit Report was pulled the same day without instant approval, SO frustrating . I do Not understand Why The Banks make me wait Days or Weeks for Mailing Approval?? Why ? thats total BS
Gotcha. Yeah, I typically do not recommend applying for more than one card from the same issuer at a time (i.e., I still apply for multiple cards on the same day, but all from different issuers). I know some people have been able to get immediate approvals, but my experience is that it seems to freak out the issuers when they receive multiple credit requests at once. Also, if you're not already doing so, I would wait at least 90 days between applications. If it's any consolation, I have an 800+ credit score and almost never get immediate approval on cards anymore. I'm pretty sure it's because I have a ton of active accounts and available credit, so the issuers are hesitant to give me more. 😄
Yes I watched this particular video last weeks but i forgot to apply properly , so i did it anyway. I just hate Bank Games. It takes time to improve credit. therefore it should be fair to have Instant Approval to everyone thru email ( 1-hour top at least ). I dont want to get a heart attack after 90 days of faith and hopes to found out I'm denied.
I was approved for a credit card but I didn't pay a deposit because I didn't know what my limit was, is there a way to find out before making the deposit?
How can you get around a company asking for tax returns? Alliant turned me down for tax returns. They said I had write off on my tax returned and denied me after a approval
Interesting -- I've never had an issuer or bank as for tax documentation when applying for a card. I'm very surprised to hear that Alliant is so strict with their approvals. Out of curiosity, was it a business or personal credit card?
You? Imagine me. Now I have a hard inquiry and no card. I tried to request a lower end card and they said. Sorry. This is why im telling everyone. Incredible
@@TripAstute . personal. I'm calling today to have a discussion about this with them. I think it's deeper than that and we know banking institutions get in trouble everyday for things
I truly appreciate the way you take your time to explain and articulate every point. Even kuku head like mine can comprehend lol . Thank you my friend.
Thanks Zack! We appreciate the support and feedback. 😊
It worked! And in a month, three credit cards became ten! Thank you!
Well done! 👍
why would you need 10 credit cards...
@@666dynomax Why not? More cards = more sign up bonuses = more free flights and hotels.
For Amex, it is typically not possible to do product change between credit and charge cards, at least from what I heard
Good to know! Thanks for sharing the info. 🙂
I was just about to say the same.
for Amex charge cards, if people are really not a fan of annual fee, I will think it is logical to cancel them, while have an Amex everyday card with no annual fees to keep the membership points. Amex everyday card holders are still able to use transfer partners and the booking trips through AmexTravel
if your incomes and your daily spends are high enough to use one of the charge cards, I think the Gold card looks to be the good keeper for general folks who do like to travel from time to time or have to be with your big family once or twice annually, even just domestic short trips. The travel perks are nice to have, and you can regularly get extra points through more regular expanses other than booking through AmexTravel (Platinum)
(I have really just started applying and using credit cards 9-10 months ago, and I just applied for the Amex everyday 3-4 months ago, so I am no expert in terms of experience)
Thanks +ErykhGoomakeep! This makes a ton of sense, and is great advice.
Awesome video Ernest. I didn't expect this video to be that informative but you nailed it.
Thanks Ahmed! Really appreciate the feedback. Glad the video was informative! 😊
Can you explain point number 5 .. I know that the bureau will merge multiple pulls from same issuers if you apply for multiple cards of the same bank .. but not sure about them not seeing each other inquires cause typically I receive a notification about an inquiry when I apply instantly and I can view my updated report with the inquiry on it.
No problem. From what I understand, the actual credit check/pull takes a day or two for it to show up on the official credit reports. When the issuer receives your application, they tend to get an automatic credit rating and profile for you, which they use for the decision. For some reason, they don't see or count other pulls if they are close to one another. I don't know if their system is just slow to update, or if the credit inquiry is "pending" until it actually posts onto your account (much like a credit purchase is pending until it is confirmed and posted). Either way, the "app-o-rama" trick works really well, and has been a tactic used by points & miles collectors to get a lot of cards in a short period of time. 🤓
Awesome will definitely consider applying for all cards that pull the same bureau around the same hour or day .. so do you know which issuers will lead to a hard pull combine if you submit more than one app with them ?
Actually, I don't recommend applying for more than one card from the same issuer at the same time. Instead, I would focus on cards from different issuers. Though it's not impossible to get multiple cards approved at once from the same issuer, I think most will find it suspicious and high risk. I found a good Travel Codex article that might be helpful too: travelcodex.com/a-new-and-better-way-to-app-o-rama/
Good tips, thanks a lot!
At 03:24 you advised to call "Reconsideration Line". Well I do not think Capital One has such. I submitted request online for credit line increase and got "Unfortunately, your account isn't eligible ... . I called customer service and was told i cant speak to anyone, such info is private, refereed me to Doc center on their website. Awful service and I hate Capital One from now on.
Good to know. Thanks for sharing. It's been a while since I've had a Capital One card, and I didn't realize that they don't have a reconsideration line. That's very annoying! 😬
your very genuine you will get alot of subcriptions quickly 1000 by next week.
Thanks Maurice! I appreciate the support and kind words. 🙂
I’m looking at going for the Amex Plat and one additional card in January. I’m thinking of Ink or maybe a Hyatt or SPG. Great info as always! I’ll be doing my apporama in Jan! Lol
Happy Thanksgiving! I'm also looking at the Amex Platinum, but waiting for a 100K offer. The Ink Business Preferred is also a great choice, especially with the 80K bonus. 😊
I applied for 2 Chase cards on the same day... wish I would of saw this video first! Got denied for the second card because of the inquiry... Next time!
Sorry to hear that! It's not a hard rule, but it does seem like the chances of approval for multiple cards from the same issuer is much less when applying all at once. Though I've been surprised to hear about folks breaking the rules and still getting an approval. 🤓
Trip Astute I can only imagine! Luckily my wife applied for the CSP and got it so we can still exchange points! 😎 thanks again!
How many cards should I have? I have like 5 credit cards already. All from 2 years ago, I am ready for a new credit card, but it is a ideal thing to do for having so many credit cards??
It's hard to say. I have 17 myself, and four that I barely use (but keep open in order to maintain the credit history). People generally recommend not closing credit card accounts since it will reduce your credit score (since your total available credit will go down). However, it really depends on what your overall credit card approach and strategy. 🤓
Thanks a lot, I will do this very informative videos that you shared, I subscribed and like and ring the bell for more videos coming and share also. God bless
Thanks for the feedback and for subscribing. We really appreciate the support! 😊
How many hard inquiries do you think are too many ? I would appreciate it thanks!
There's isn't a hard rule when it comes to the number of inquiries. However, issuers tend to see a lot of hard inquiries as a sign of credit risk. Depending on your credit score and situation, it might not be a big deal. However, if you're just starting out, I would try to minimize them before applying for new cards.
Hey,
I am about to apply for my bank's CC and discover's CC sometime in Mid-Jan. Is it still best to apply for them at the same time?
The bank, I will have to fill out in paper because the online is bugged when it gets to income. Discover I can apply online.
It’s hard to say since it depends how soon your bank runs a credit check. If it’s the same day or even the next day, then it definitely makes sense to apply for the other card at the same time.
My guess is that they probably take the information you provide on the form and plug it into a computer. It might be worth asking your banker how soon you can get a decision on your card. If he/she says the same day, then its likely they’ll run the credit check at the bank as soon as you complete the paperwork. 🤓
@@TripAstute Well I got lucky ... I applied for both cards and the bank only looked at experian for the report (accepted within 2 hours) and discover looked at equifax report (applied yesterday and called today and said approved).
Thanks though. :)
@@FireyCam what was your credit score when you applied?
Did the app-o-rama a month ago with AmEx bce, Chase FU and Wells Fargo rewards minutes apart and got approved from all 3. I’ve been getting pre-approved from delta AmEx platinum lately with 80,000 bonus miles after spending $3,000 in 90 days. Hopefully they still have that offer come February 2018, I’ll be applying for sure, planning to travel next year.
Wow, that's awesome. Great job on the app-o-rama! 😊
Dope did applying to multiple affect your score at all or does it not show if it's the same day/time?
Your videos are really helpful. Could you please answer my question. I m just a beginner in credit card things. I had 5 years & 2 month credit history with 2 cards before. Then, I applied 2 credit cards at the same time 6 mth ago with my friend’s advice. I got approved. But right now, my age of credit is down to 2 years and 10 mths. Currently, I have 776 credit score. I want to apply BOFA travel credit card with no annual fee cos I have travel plan. But now, I am reluctant to apply. Although I have good credit score, I don’t have good age of credit. Plus, if I got approval, my credit age would be 6 month. So, should I apply right now or wait? And should I apply 2 cards at a time again or just one card in terms of credit age. Thank you so much.
Thanks for the feedback! Glad the videos are helpful. It's a tough call whether you should wait or apply. Since you're waiting 6 months between applications, I think you're probably safe to apply. If you're concerned about credit age, I would probably only apply for one card to reduce the impact on your score and history.
Also, I think a lot of people feel like they need to get as many cards possible before offers go away. However, I always tell people that there will always be new cards and offers available, so definitely don't feel like you need to get every card now. I think it's worth pacing yourself when you're in the hobby (even though the struggle is real)! 😆
Thanks for replying right away. I am gonna wait 6 more months for that credit card. I'll go for one card this time. Not two. 😁 And thanks for your advice too. 🙏
No problem! If you have any other questions, don't hesitate to reach out. We are happy to help! 😊
736 TransUnion 739 Equifax and 623 Experian 1 derogatory Mark from about 2 Years ago. Can I apply for the chase freedom AND or Amex everyday blue card ?
It's a tough question since there are a lot of factors that need to be considered other than your credit score (e.g., how many cards have you applied for in the last two years, current available credit, income, etc.). WalletHub says that a score of 750 is recommended for the Chase Freedom, so it might be risky to apply for it now. It looks like the AMEX Everyday Blue Cash card is a bit less stringent when it comes to approvals. Definitely check out WalletHub's advice for more info:
- Chase Freedom: wallethub.com/answers/chase-freedom-credit-score-2140599660/
- AMEX Blue Cash: wallethub.com/answers/blue-cash-everyday-credit-score-requirement-2140665588/
Just be careful with Chase as they tend to be most strict. Make sure you check out our 5/24 and 2/30 video too, since their approval rules and guidelines are fairly complex.
Trip Astute man 750 Experian score That’s really discouraging to hear especially because the adverse Account I have is fraudulent. Working Hard to dispute it I’ve had a capital one credit card for the last year and I’m currently an authorized user on another card so I’ve been working really hard. Do you think if I apply and I get denied the recon line would help me at all if I better explain my situation?
It might help, but honestly, I wouldn't rush it (especially with Chase). If you do decide to get more premium cards in the future (like the Chase Sapphire Reserve), you want to avoid having any discrepancies during the approval process (and any additional inquiries). If you don't think you'll want a more premium card, then it could be worth trying for. But I would wait until the adverse account is resolved before applying.
Sorry! I wish I had more encouraging advice. I think I tend to edge more on side of being careful than aggressive with credit card applications.
Trip Astute ok thanks so much I’ll take your advice and wait it out
👍
How do credit card companies check the income you stated is true? I've heard lots of people just put down the minimum requirement for the amount of income for that credit card and get approved right away.
It's a good question. From what I understand, it's strictly based on stated income (i.e., they don't verify your income). However, if something seems off about the applicant's profile during underwriting, they may ask for additional verification.
I have a question.. I applied to a pre qualified card n I got a pop up saying we don't have any pre qualified cards at this time for you.. do that mean I'm not qualified for that card n should I wait to apply for the card
It's hard to say. Sometimes the pre-approval is based on a cookie on your browser. Were you logged into your account, or did it pop up on the public page of the issuer? If it's the latter, then the issuer is less likely to honor the pre-qualification.
I believe it was that cookie shit .. but my wife applied for the amex gold and got approved so I'm going to get added on as a AU. Once that happens I will apply for a amex card myself.. I should be okay once I become an AU..
I really value his advise but I dont like the background music its to load and distracting from the topic.
Thanks for the feedback, Sandra. I try not to make the background music too loud, so I'll definitely be careful on future videos.
I applied for 3 cc 5 days ago, my Credit Report was pulled the same day without instant approval, SO frustrating .
I do Not understand Why The Banks make me wait Days or Weeks for Mailing Approval?? Why ? thats total BS
Sorry to hear that! If you don't mind me asking, which cards did you apply for? Also, do you have a ton of credit cards already?
I applied for CSP ,Chase Southwest Plus and Capital One Venture1. i only have 3 accounts with ( 735 score)
Gotcha. Yeah, I typically do not recommend applying for more than one card from the same issuer at a time (i.e., I still apply for multiple cards on the same day, but all from different issuers). I know some people have been able to get immediate approvals, but my experience is that it seems to freak out the issuers when they receive multiple credit requests at once. Also, if you're not already doing so, I would wait at least 90 days between applications.
If it's any consolation, I have an 800+ credit score and almost never get immediate approval on cards anymore. I'm pretty sure it's because I have a ton of active accounts and available credit, so the issuers are hesitant to give me more. 😄
Yes I watched this particular video last weeks but i forgot to apply properly , so i did it anyway. I just hate Bank Games. It takes time to improve credit. therefore it should be fair to have Instant Approval to everyone thru email ( 1-hour top at least ). I dont want to get a heart attack after 90 days of faith and hopes to found out I'm denied.
Okay ,News UPADATE. No Heart Attack lol, I got Approved for the CSP and Cap1 Venture1
( Total Cost Me: 9points off my Score ) can't complaint.
I was approved for a credit card but I didn't pay a deposit because I didn't know what my limit was, is there a way to find out before making the deposit?
Hmm, not sure that I understand the question. Did you apply for a regular or secured card?
How can you get around a company asking for tax returns? Alliant turned me down for tax returns. They said I had write off on my tax returned and denied me after a approval
Interesting -- I've never had an issuer or bank as for tax documentation when applying for a card. I'm very surprised to hear that Alliant is so strict with their approvals. Out of curiosity, was it a business or personal credit card?
You? Imagine me. Now I have a hard inquiry and no card. I tried to request a lower end card and they said. Sorry. This is why im telling everyone. Incredible
@@TripAstute . personal. I'm calling today to have a discussion about this with them. I think it's deeper than that and we know banking institutions get in trouble everyday for things
Good tips, but nothing different from other youtubers channels
Sorry you didn't find the video useful. I do my best to help a wide range of people and always try to make the videos valuable. 😞
Why you filming this in your daughters room yo
Comments like this make me want to quit RUclips! 😞