Join over 5,000 people who are subscribed to receive a once daily email with all of our posts. Never miss out! Click here to subscribe.
Learn how to maximize your points & miles! Join Our Facebook Group!
Credit Card Application Results June 2016
A few weeks ago I applied for five credit cards across four banks in a mini round of applications. Since I am going to be getting a mortgage fairly soon, I didn’t want to have too many inquiries, so I kept the number of applications down and all were strategic. Here are the final results that netted me a painful denial, a free phone, 30,000 miles and over $700 in statement credits.
Citibank AT&T Access More Free Phone
Update: There are no known working links for this card.
I have been doing a fair amount of reselling and have been spending a lot of money online. My wife has the AT&T Access More card, however her limit is a bit on the paltry side and we have been cycling it multiple times each month. Having a second AT&T card is desirable to lighten the load, plus the phone bonus is valuable and we are AT&T customers.
The Offer: Free phone (up to $650) after $2K in purchases during the first 3 months.
Application Results: Approved after a phone call. Needed to shift credit from other accounts.
Takeaways: I have hit my maximum credit with Citi and they only gave me $1K in new credit for this card. That is fine with me since I am willing to shift credit for an approval. This is a card I will keep long term given the 10,000 annual bonus points after $10K spend offsets the $95 annual fee in my opinion.
I will admit that the Arrival Plus used to be one of my favorite cards, however with last year’s changes it has been lower on my list. The $400+ sign-up bonus is attractive, but with redemptions becoming tougher and cards like Double Cash and Freedom Unlimited around I’m not sure this is a keeper.
The Offer: 40,000 points ($400) after $3K spend in 3 months.
Application Results: Instant approval.
Takeaways: I closed my last Arrival Plus card awhile ago, so I was due for a new one. At the time of application I was down to just a single Barclaycard, the Aviator Red. This is the third time I have had the Arrival Plus and they gave me a fairly decent credit line. I’ll be happy to use it in Europe and I’m sure I can find a use for that nice bonus.
Bank of America
I used to joke that Bank of America hated me because every time I would apply for a card they would give me a $1K credit limit. That really hurt on Alaska Airlines cards where the bonus is reduced if you don’t get a $5K line. I applied for two cards from BofA during this latest round because in my experience the inquiries are merged.
I recently moved money around to earn Platinum Honors status at BofA so this card will pay 2.625% everywhere. That is the best up front rebate any card pays as far as I know.
The Offer: 20,000 points ($200) after $1K in purchases during the first 90 days.
Application Results: Instant approval.
Takeaways: Moving money into BofA seemed to really help with my latest applications. The credit line on this card was very generous and I am excited to have this card in my wallet.
I also applied for the Alaska Airlines 30K + $100 offer. This application was submitted about 30 seconds after the Travel Rewards card, however it went to pending. I still value Alaska miles highly and this is a great offer and card in my opinion. Of course, if I was to get another $1K credit limit, then the bonus would stink.
The Offer: 30,000 miles + $100 statement credit after $1K in spend during the first 90 days.
Application Results: Approval after a phone call. Received a very nice credit line.
Takeaways: It is official. BofA no longer hates me. Moving my money into their bank will not only net me 2.625% on the Travel Rewards card, but it also seems to have helped juice my credit lines quite a bit. That is a welcome change.
Chase United MileagePlus Explorer 75K + $50
As I wrote yesterday, I applied for this targeted card offer and was denied for too many new accounts. After being escalated to the top of Chase reconsideration, I was still denied. A sad result, but not one that was unexpected.
The Offer: 70,000 miles for $3K spend in the first three months + 5K for adding an authorized user + $50 statement credit after first purchase.
Application Results: App went to pending and then I received a denial letter for “too many new accounts” via the mail. Tried to escalate for reconsideration, but they won’t reconsider apps denied for this reason.
Takeaways: I knew applying for this card was risky given that I have many new accounts in the past two years, but the offer was targeted (and others have had success with targeted offers) so I decided to give it a try. Of course I am disappointed that I wasn’t approved given the incredible bonus, but life will go on.
My overall strategy for this round of apps was to spread around the inquiries and pickup products that fill a need for me and I feel like I was successful. I was able to get two BofA cards with one inquiry, while also getting the AT&T card for reselling and a nice bonus on the Arrival Plus with only a hit on my Transunion report which is underutilized. While the Chase denial hurts, it wasn’t unexpected, but I do need to figure out some sort of Chase strategy going forward.
This post may contain referral, affiliate or sponsor links that provide Miles to Memories compensation. Thank you for your support.