60 days until my final AOR, any advice?

Discussion in 'General Discussion | Credit Cards' started by mo26, Oct 19, 2012.  |  Print Topic

  1. mo26

    mo26 Silver Member

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    Hi folks,

    I've spent the last 8 months following blogs, and becoming mildly obsessed with the MP app on my phone.

    I've added 5 cards and a couple hundred thousand miles....plus seen my credit score jump 40 points!!!! (770 across all 3).

    Unfortunately, this new-found infatuation has come at a bad time in my life. It's time for me to start the 24 month clock for a mortgage hunt.

    Here's what i'm thinking for my last AOR:

    Citi Hilton Reserve (never had a citi card)

    BOH Hawaiin Airlines (approved for a BOA virgin atlantic card 4 months ago)

    Now the tricky part:

    CSP Mastercard (received the visa version back in february)

    Chase Marriott Visa (CSP visa is the only card i have, and even getting that one took a reconsideration call)

    I'm not really interested in any other cards (unless someone thinks the BOA hawaiin card would be a better move than the BOH version)

    I long decided to have a CSP Mastercard as my primary, and had been offered to get it switched over by an agent on the phone. Although I'd rather take the bonus again and cx the visa when the annual comes due.

    I guess I'm just looking to tap into the MP braintrust for some feedback and tips on the plan.


    Thanks in advance,

    MO
     
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  2. artvndlay

    artvndlay Active Member

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    Congrats on your success and increased credit score! It might help if we knew what 3 other cards you have now, besides CSP Visa and BOA VA. Also would help if we knew what your goal was, apparently hotel nights?

    I assume you are transferring the BOH (and the Virgin airways miles) into Hilton? If so, why not grab a Hilton AMEX in this round for some extra points and AXON access? AXON access has saved me ~110k Hilton points this year, and even saved ~50k over GLON awards.

    The only thing that distinguishes the BOA and BOH version (that I know of) is that the BOH version has a different website to log to, fiacardservices.com, not the BOA site. Extremely minor, but if you already have the BOA VA set up with online access, the BOA Hawaiian will show up in the same account. One fewer username/password combos to remember.

    I like to push the limits so I would probably try for BOA and BOH Hawaiian, add another Citi app, 2BM.

    I'll leave off the Barclay's, U.S. Bank and other Amex options, sounds like you are not interested, but I try to get as many different issuers as I can in each round. Especially if I were walking away from the game for a while. Also, I don't see any business apps which is something to think about. Best of luck!
     
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  3. mo26

    mo26 Silver Member

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    Sorry about that, I should have added some more details, but I wanted to avoid anything too long winded!

    I've got 3 cards that are worthless point earners, but anchor my history.

    My additional cards are a Discover More ( which has actually worked out great for me this fall with their gift card redemption rates for rental cars), The free Hilton AMEX, SPG AMEX, Virgin Atlantic, and the CSP Visa.

    I do want to bulk up my hotel balances, and am not interested in airline miles (with the exception of UR flexibility, and a knee jerk reaction to the AA trick if the 150k offer comes along again).

    My plan is to keep the Discover (for the quarterly bonus) and Hilton Amex (upgrade to Surpass when the offer w/ no pull presents itself, downgrading again before the fee comes due).

    I'll be on the fence about the SPG, and the Virgin card is gone when renewal comes up.

    Regarding what I'm looking to apply for: I'd cx the CSP Visa if I was accepted for the Mastercard, I'll keep the citi reserve for the status, and cx the marriott and hawaiin cards.

    Hope that adds some perspective to my thought process.

    Thanks,

    MO
     
  4. servo

    servo Silver Member

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    I plan on doing more research about this, but I highly doubt that 8 inquiries in a year is what would trigger your rate to not be top tier. I used to work for a couple of credit unions as their business analyst, so I have some connections to mortgage underwriters that might be able to shed some more light on this. As with you, I may be looking to purchase a home in the next 3-4 years, so while I have a little time left still, it's nonetheless intriguing to me right now. All I've seen to this point is speculation from bloggers of using the 2 year mark because that's when the inquiries drop off, and assuming that's the route to the best rate. I would guess the number of open lines might play a bigger factor than recent inquiries.

    I'm going to be starting a budgeting/finance/credit blog soon, so perhaps I'll add this topic. I've had too many friends ask me to help them with their finances that it became time to consider consolidating my efforts.
     
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  5. TheBOSman

    TheBOSman Silver Member

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    Since you said this will be your last for a while, it might make sense to get a CC that has a very long spend cycle. I know La Quinta might not work as a chain (and $10k might be too much to spend in addition to other cards you get) but this way, you'll still have a bonus to chase even after your other cards are met, and won't have to get another inquiry: https://www.firstbankcard.com/laquinta/88735/. I am not sure how the bank is on approvals or churning or anything, it was only posted to TOBB recently: http://www.flyertalk.com/forum/milesbuzz/1177334-special-credit-card-offers-master-thread.html, but it is worth considering, so you'll have a spend bonus to hit in months 6-12 as well, since the card offers a bonus for spending within a year.
     
  6. mo26

    mo26 Silver Member

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    Thanks BOS, i'll take a look!
     
  7. mommypoints

    mommypoints Gold Member

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    I strongly recommend an Ink card (Bold or Plus) so you can start earning 5x on lots of stuff. ;) Other than the initial inquiry, it won't even show on your personal credit report. That way you have a path to easy points earning even while you are on a churning hiatus.
     
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  8. slickw

    slickw Silver Member

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    I recall reading somewhere inquiries are only weighted at about ~10% when determining whether to grant a card. Likewise, some say only the last 12 months of inquires are considered, with the last 6 months being weighted higher.

    It would be nice if you can get some definitive answers, that would make a great blog post :)
     
  9. MrAlexMoore

    MrAlexMoore Silver Member

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    Ink is definitely the way to go over the 'dry spell' to maximize puntos. Also if you are looking at any Citi (AA, Hilton, etc) might as well apply for 2 and try to double up the bonus on likely 1 inquiry. Same goes for the HA, might as well double up if you can hit the spend.

    And you never know what will pop up during your app week. Save one spot for the deal of the day, and hope it's a good one
     
  10. Xtra_Gumby

    Xtra_Gumby New Member

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    As a bank manager for 3 years, and a Mortgage Broker for 8, I can assure you you'll be just fine for a mortgage, even if you applied tomorrow...and at the best rates.

    If you're above 720 and your Debt-To-Income is in line, the inquiries don't matter at all. At 770, you have absolutely NOTHING to worry about.
     
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