- 1. What is the App-O-Rama (AOR)
- 2. App-O-Rama (AOR) analysis of benefits
- 3. Limitations and considerations for AOR
- 4. In conclusion
- Series of articles
1. What is the App-O-Rama (AOR)
App-O-Rama (AOR) the principle is to upload multiple applications for credit cards, which may be the same card, card of the same banking, cards of different banks.Such applications often have the following benefits:
- Savings Bank called credit reporting (HP) number
- Improve the second probability
- Get multiple cards simultaneously and many rewards
- Easy to manage open card
2. App-O-Rama (AOR) analysis of benefits
2.1 savings bank called credit reporting (HP) number
When we know that every time you apply for a credit card, the Bank will check your credit report, and will be left in your report a inspection record (HP).This access to credit score calculation is a side effect.Moreover, banks check your credit history if you recently called a number of banks on the credit history record, will think you have recently applied for a credit card or loan, you may not approve your credit card.So it is necessary to save HP.
AOR request method will save HP from the same bank (not all banks will do).Chase,BOA,Barclays HP at this three day will be merged.For example: If you apply for the Chase Freedom and Chase United Explorer, this three credit cards Chase Sapphire Preferred, HP record happened three times, Chase HP three times will automatically be merged into one.So on your credit report will only leave HP records at a time.This is good for your credit score and applications.
2.2 improve the second probability
Apply for a credit card can second often depend on your credit score and your relationship with the Bank, credit score updates more often than not in real time.When you apply for and through a credit card has a HP and a new account, and credit score because you HP and average credit histories fall down.The low scores could take from a week to a month to appear (due to new accounts appear on the credit report required a month's time).
The AOR method, after you applied for your first credit card, your credit score is the same, so you immediately apply for a second credit card, the Bank gets to you before I drop points.This way, you can increase your probability.Also, on your credit report, you just did not apply for a credit card account, so that banks don't know that you have recently applied for several credit cards.This is through probability, in particular, reconsideration by the probability of a key.
2.3 get multiple cards simultaneously and many rewards
Once it is apply for a Citi credit card is an important technique, but it has been stifled by Citi (see precautions).Currently supported is the BOA credit card.To cite an example, now BOA issued by Alaska Airlines credit card 25K card rewards, some people opened four browsers, open four applications interface applications, adoption, you can get the 4*25K card rewards.Of course, at the expense of HP and four new accounts at a time.
2.4 easy to manage open card
General credit card spending over the three-month XX, free rewards XX card rewards.Apply for a credit card on the same day will be tracking the consumption of convenience, so just remember a deadline can have.Convenient easy to forget to do tasks people.
3. Limitations and considerations for AOR
- Not suitable for short credit history and people with low score
- CITI can only apply for a credit card, so it is not a day more CITI cards
- Except as noted in 2 of the three banks, other banks whether HP is not clear, so may not be essential to AOR
- One day in the same bank card, will increase the Bank's risk assessment for you, resulting in levels, especially Chase
- AOR the same card would led to the Bank that you are applying for a duplicate, where you need to call description
- Most of the banks for the same card can only carry one card short term rewards, it is impossible to AOR the same card (now BOA after a card for AOR)
- AOR HP can be saved, but the new account will appear on your credit report, so the effect is there.
- Bank's policy changes at any time, AOR whether it is necessary to pay attention to the latest situation
4. In conclusion
AOR is a good method, but with the changes in banking policy, is not as useful as it once was.However, if you have multiple cards for applications, can still be used, saving HP and probability of upgrading seconds.
Series of articles
- Talking about the credit card application-apply-no SSN
- Talking about the credit card application – repeat applications (churning)
- Talking about the credit card application – card rewards
- Talking about the credit card application–Reconsideration
- Talking about the credit card application – Bank properties (AMEX, BOA, BARCLAYS, CITI … … ）
- Talking about the credit card application–App-O-Rama (AOR)