I Applied For 5 New Credit Cards

In yesterday’s post I asked you guys for advice on which new credit cards to go for next, and to offer any advice. My friend Chris said “Get all of them!” haha. I guess you could say I went big, because I ended up applying for 5 cards, and at one point I was only considering 3. Was it a good idea or not? We will find out soon!

Here’s what I applied for:

  1. Barclay’s US Airways Mastercard for 40,000 miles 1st purchase
  2. Citi ThankYou Points Mastercard for 50,000 points after spending $2,500 in 3 months
  3. CapitalOne Venture card for up to 100,000 (see yesterday’s post) points matching a spending statement from last year.
  4. Bank of America Virgin Atlantic card for 50,000 transferred to 100,000 Hilton points after spending $2,500 in 3 months.
  5. Chase United Explorer card for 50,000 miles after 1st purchase

 

Results Last Night…

As I stated in yesterday’s post, I had some worries about going for the CapitalOne card since they were my first card ever from over 5 years ago, and they haven’t been willing to offer me any premium cards even though every other bank in existence will. I also applied for this card last year and was declined. I applied last night and was instantly declined again! Ouch.
CapitalOne if you’re reading this, please just give me a chance!! I have an excellent credit score, solid income, no debt, & 100% on time payments! I will definitely be attempting some reconsideration phone calls and letters for this card. It’s not over, until it’s over :)

Barclays US Airways, BOA Virgin Atlantic, & Chase United cards:
I got the “pending further review” decision. I’m used to that since I have a high amount of hard credit inquiries on my account. For more info on hard credit inquiries & credit in general, head over to my Beginner’s Steps series.
Citi ThankYou Points card I received an error message upon application submission and it said not to worry and that they would contact me on their decision.

Call The Card Issuer!

I’m a strong believer in being active and on the offensive team for your credit card applications. If you get declined or don’t get instant approval – don’t wait around or think it’s over! I can’t count the amount of reconsiderations turned into approvals that I’ve received.

Phone Results So Far:

- Chase said they couldn’t review the app over the phone and they didn’t have a decision yet for the United card. I’ll call back in a couple days but I’m thinking this application will get approved as I use my Chase Sapphire Preferred card religiously, and I was targeted for this offer.
- I couldn’t get a hold of Barclay’s, it was too late. Call back tomorrow.
- Bank of America said I was DECLINED for the Virgin Atlantic card. Ouch! I didn’t think this would be a hard card to get since I do all of my banking with them, and I also have an Alaskan Airways credit card with them in good standing. I couldn’t get a credit analyst on the phone, so I’ll call again tomorrow for a reconsideration.
- Not all bad news though… I think the Citi ThankYou Points card will be approved. I called and they asked me to move some credit limits around on my 2 American Airlines cards b/c I had the maximum credit they wanted to extend me. My AA cards have the highest limits of all of my credit cards, so this was not a surprise to me. After we moved the credit lines, she put me on hold and apparently she couldn’t find a 2nd person to sign off on the application and said I should call back tomorrow. She couldn’t officially tell me the app was approved, but it sounded pretty approved to me. So that’s a good sign!

 

So far, not too good…
This is by far the worst preliminary results I’ve ever had when applying for new credit cards. Could this be a sign that I will need to slow down credit card applications? Maybe I’ll just have to go for the premium offers in the future, and leave some of the small cards and repeat cards out of the equation. We shall see! I will keep you guys updated on my progress on here.

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4 Comments

  1. Jonelle says:

    I was also declined instantly for the Capital One Venture card. First card I’ve been declined for in years! So don’t feel bad.

    Reply
  2. DealsSeeker says:

    That’s interesting that Citi was able to move around your credit in order to open a new cc. When I called to have some of my credit transferred to my new cc, they said that they don’t do that anymore.
    Good luck with your approvals! Going to do mine real soon too!

    Reply
    • admin says:

      Well you know what they say – if you don’t like what the rep says to you, hang up and call back!! They needed to move my credit around bc I had the maximum they were willing to extend me from my 2 AA cards. Maybe if you’re not at the max, then they won’t do that?

      Reply

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