I can see why getting B* is a good idea since your inquiries get off your credit report, and all my denials have always been related to too many INQ. But that's probably only because I have a short credit history of less than 2 years, and I would think INQ makes less of an impact as you age. In addition, B* costs money cause you need to pay for those daily pullers... and if you have a few pullers, that can easily cost $30/mth or close to $400 a year. With the risk of C*, I am curious why people are still obsessed over B*?
Even if you get new signup offers, you would probably need to get a lot of them in other to cover the cost of daily pullers. Am I missing something here?
Why the obsession over B*?
Started by
AndroAsc
, Feb 22 2012 07:17 PM
25 replies to this topic
#1
Posted 22 February 2012 - 07:17 PM
#2
Posted 22 February 2012 - 07:22 PM
Some people don't mind the cost and it's worth it to them. People spend their disposable income on different things. I don't see what's so hard to understand. 
#3
Posted 22 February 2012 - 07:37 PM
Well to be honest, you just answered your own question. Obviously, large amounts of inquires increase the chances of denials.
By the way, what gives you the right to categorize someone as being "obsessed" that wants to get rid of a inquires? Most people do not take kindly to name-calling, Dr. Phil!
By the way, what gives you the right to categorize someone as being "obsessed" that wants to get rid of a inquires? Most people do not take kindly to name-calling, Dr. Phil!
Edited by disnugaswagg, 22 February 2012 - 07:45 PM.
#4
Posted 22 February 2012 - 08:16 PM
Well to be honest, you just answered your own question. Obviously, large amounts of inquires increase the chances of denials.
By the way, what gives you the right to categorize someone as being "obsessed" that wants to get rid of a inquires? Most people do not take kindly to name-calling, Dr. Phil!
No offense intended my friend, it's just that majority of the posts here are about B*. I'm curious that's all. I like the idea of B*, but paying for these daily pullers is what that holds me back.
Edited by AndroAsc, 22 February 2012 - 08:16 PM.
#5
Posted 22 February 2012 - 08:19 PM
I see it as a small price to pay to get in better shape and ultimately earn lower interest rates which will save so much more money.
#6
Posted 22 February 2012 - 08:21 PM
What is the B*?
#7
Posted 22 February 2012 - 08:31 PM
I see it as a small price to pay to get in better shape and ultimately earn lower interest rates which will save so much more money.
This. Also, keep in mind most people don't subscribe to 4+ daily pullers the entire year. I had 50 INQs on EQ, and $40 and 30 days later, I have none. Worth the $40 for me.
edit: Looking at my statements, I guess it was $76. Still worth it. The signup bonuses I've received on recent approvals have already paid for the cost of the daily pullers.
Edited by spigot, 22 February 2012 - 08:33 PM.
#8
Posted 22 February 2012 - 08:32 PM
And what is C*?
#9
Posted 22 February 2012 - 08:33 PM
What is the B*?
The B* = B* = "Bumpage."
B* is cousin to The C* = C* = "Choppage."
Bumpage = "bumps" credit file pulls (inquiries, "INQs") from existence by filling up the space in sequential order, and once they fall off your report they exist no more.
We obsess with B* to get credit approvals = more credit = profit.
#10
Posted 22 February 2012 - 08:35 PM
And what is C*?
C* (Choppage) is when all your good B* work/pulling gets C*hopped and doesn't exist anymore so you never hit 85 soft pulls and you never get B*.
and
#11
MarvBear
- Admin
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- 45,543 posts
Administrator
Posted 22 February 2012 - 08:40 PM
What is the B*?
The B* = B* = "Bumpage."
B* is cousin to The C* = C* = "Choppage."
Bumpage = "bumps" credit file pulls (inquiries, "INQs") from existence by filling up the space in sequential order, and once they fall off your report they exist no more.
We obsess with B* to get credit approvals = more credit = profit.
Joe: I bolded the part of your post that is utter nonsense.
#13
Posted 22 February 2012 - 08:45 PM
There is no better feeling in the world than beating C*. Sometimes when I need a fix, I app 25 times in a row for EQ pullers that I know will deny me only so that I can bump off the inquiries.
#14
Posted 22 February 2012 - 08:51 PM
For the folks here who play nice the daily pullers give a discount or free service.
#15
Posted 22 February 2012 - 08:56 PM
For the folks here who play nice the daily pullers give a discount or free service.
+1
USAA-CCMP has a $6.12 promotion, pretty sure.
#16
Posted 22 February 2012 - 09:47 PM
We obsess with B* so that inquiries can come off our reports.
#17
Posted 22 February 2012 - 10:26 PM
Not obsessed, but here are some reasons...
When positioning yourself for new credit, especially on a big purchase, saving even 0.5% could mean thousands of dollars.
For FICO-happy lenders, a few points could also mean the difference between an approval and a denial.
For those just starting out and those rebuilding, you don't get approved at every corner, so you do some trial and error. This can end up with a lot of inquiries, which then looks even worse to prospective lenders.
In any case, not many people pay for it throughout the year. It's usually a 1-2 month push until you are inquiry free. The cost is relative, but certainly worth it depending on your situation.
And the reason you see it mentioned and discussed so much is because it's somewhat complicated and can be hard to get your feet wet, so people have a lot of questions.
When positioning yourself for new credit, especially on a big purchase, saving even 0.5% could mean thousands of dollars.
For FICO-happy lenders, a few points could also mean the difference between an approval and a denial.
For those just starting out and those rebuilding, you don't get approved at every corner, so you do some trial and error. This can end up with a lot of inquiries, which then looks even worse to prospective lenders.
In any case, not many people pay for it throughout the year. It's usually a 1-2 month push until you are inquiry free. The cost is relative, but certainly worth it depending on your situation.
And the reason you see it mentioned and discussed so much is because it's somewhat complicated and can be hard to get your feet wet, so people have a lot of questions.
Edited by road2freedom, 22 February 2012 - 10:27 PM.
#18
Posted 22 February 2012 - 10:30 PM
Not obsessed, but here are some reasons...
When positioning yourself for new credit, especially on a big purchase, saving even 0.5% could mean thousands of dollars.
For FICO-happy lenders, a few points could also mean the difference between an approval and a denial.
For those just starting out and those rebuilding, you don't get approved at every corner, so you do some trial and error. This can end up with a lot of inquiries, which then looks even worse to prospective lenders.
In any case, not many people pay for it throughout the year. It's usually a 1-2 month push until you are inquiry free. The cost is relative, but certainly worth it depending on your situation.
And the reason you see it mentioned and discussed so much is because it's somewhat complicated and can be hard to get your feet wet, so people have a lot of questions.
+1
It is always best to have least number of INQs when applying for new credit or CLI. Hence, B*.
#19
Posted 23 February 2012 - 09:35 AM
I see it as a small price to pay to get in better shape and ultimately earn lower interest rates which will save so much more money.
This. Also, keep in mind most people don't subscribe to 4+ daily pullers the entire year. I had 50 INQs on EQ, and $40 and 30 days later, I have none. Worth the $40 for me.
edit: Looking at my statements, I guess it was $76. Still worth it. The signup bonuses I've received on recent approvals have already paid for the cost of the daily pullers.
How do you accomplish this? I only have CCT but need B* badly. I would pay $76 for my 20 inquiries to vanish. Please let me know and thank you!
#20
Posted 23 February 2012 - 09:40 AM
If you have the wherewithal to read sites like this and be proactive about your credit where. Effecting change can sometimes cost months and thousands of dollars, bumpage for a few weeks and the cost of not getting a daily coffee or something, is a blessing and an opportunity, not something to be scoffed at because it costs money.
#21
Posted 23 February 2012 - 10:14 AM
Even if you get new signup offers, you would probably need to get a lot of them in other to cover the cost of daily pullers. Am I missing something here?
I believe you're missing a whole lot. Less inquiries clearly mean better likelihood of approvals and an uptick in credit score. To some (most), this is a big deal.
#22
Posted 23 February 2012 - 10:58 AM
Okay guys Im new here and Im just now starting to understand B*...What site would be best for me to start doing this Im non military. Also I have no more than 6 inquires on my credit report for each agency. Is it still worth me trying this?
#23
Posted 23 February 2012 - 11:09 AM
I use MyPrivacyMatters thru EliminateIDTheft. $15.95/mo for self + spouse, and it should generate B on EQ & TU for both of us. No other pullers for me.
#24
Posted 23 February 2012 - 02:20 PM
I see it as a small price to pay to get in better shape and ultimately earn lower interest rates which will save so much more money.
This. Also, keep in mind most people don't subscribe to 4+ daily pullers the entire year. I had 50 INQs on EQ, and $40 and 30 days later, I have none. Worth the $40 for me.
edit: Looking at my statements, I guess it was $76. Still worth it. The signup bonuses I've received on recent approvals have already paid for the cost of the daily pullers.
How do you accomplish this? I only have CCT but need B* badly. I would pay $76 for my 20 inquiries to vanish. Please let me know and thank you!
I wrote up in detail on accomplishing B* after trial and error...you can read my posts here and here
I recommend anyone wanting to start B* or is struggling to read my posts
Btw how much are you paying for CCT?
#25
Posted 23 February 2012 - 02:57 PM
I wanted to add that you can get the first month free of EQ Complete Advantage with this link and before the 30 days is up you can call to cancel and may get an extra free month. If not given a free month ask them to reduce the rate to lowest possible which should be $12.95
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