Part 2-How and when to do an App-o-Rama.

Today we are going to step into the second part of the App-o-Rama series as highlighted in the intro article App-O-Rama – How to Make thousands of dollars with your credit.
There are several steps to begin an App-o-Rama, first is to decide what your goal is and what cards to apply for knowing that goal, second is to organize a strategy to efficiently start the App-o-rama, and last to know when to start the App-o-rama.

1.) Deciding your goal and what cards to apply for:

There are a couple types of App-o-rama’s, first is to perform an app-o-rama to just increase available credit and to get the sign-up bonuses. For this method you would want card with large signup bonuses such as $100 after first purchase or Amex Business Cards with up to $250 bonuses. The second is to get sign-up bonuses and use fee free balance transfers to earn interest in a high yield savings account such as Emigrant Direct with their 5.05% APR no fee account. To make thousands of dollars, you would choose case number two and would want to find cards with no fee 0% interest for up to a year. The bonuses are a side benefit to the second case. Of course you can also mix and match, some big bonus cards, some good 0% cards, etc. So just decide what type you want to do and how many cards you want to apply for.

Once deciding on your goals, you can begin to choose which cards best suite your plan. The first place to start, is 0% interest/Low APR Credit Card Offers List and choose cards that fit your desires keeping in mind that it is best not to have more than 3 cards per company(Chase, Citi, AmEx, Discover, etc.). The best cards for balance transfers are Citi and Discover. Normally people apply for at least 15 cards knowing that a few might not get approved, but there is no magic number.
Once you have decide on the cards you want, go to CardOffers.com to check if any of the cards you want are on their site since you can receive up to an additional $50 per card that is approved. Bookmark all of the links to the online credit card applications so you can easy access them. Now you are ready to do your first App-o-rama.

2.) Develop a strategy to efficiently start your app-o-rama
Part of an App-o-rama is to complete the process of applying for the cards in a quick manner. In order to do this, a plan needs to be organized to efficiently apply for all of the cards. The best way to do this is to use Word to copy and past direct links to the individual card applications or if you’re using cardoffers.com to copy the links that lead to the Cardoffers.com apply page. After the links are compiled organize the links in order of the credit card issuer (Citi, Chase, AmEx, Discover), because sometimes the credit issuers will combine multiple applications into a single credit inquiry which minimizes the effects on your credit score. When your list of links is complete, you are ready to start do the App-o-rama. **To help the process, getting a free program called RoboForm which will fill in your name and address automatically to save you time.

3.) When to start an App-o-rama?
Timing is important in that you can minimize the credit inquiries by bunching credit applications together. The best timing is to start your App-o-rama when the credit card workers are away from the office. The most successful App-o-rama’s happened between 12:00AM PST and 8:00AM PST. So this is easy enough, but is very important.

When the time is right start your AOR by going down your Word list and applying for each card.

IF YOU HAVE ANY QUESTIONS, Please post a comment and I will respond today.

Stay tuned for the next in Series - Managing an App-o-Rama

AOR, App O Rama, credit, credit cards, Money, savings