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Amount of time to wait after paying off a credit card to sign up for a new one?

New Member

Amount of time to wait after paying off a credit card to sign up for a new one?

     I was curious as to the amount of time I should wait after paying off a balance in full with a lender before applying for another credit card with that same company. 

 

For my example:  Capital One Secure Credit Card, Balance $212.00 / Limit $301.00 / Paid off as of 5/6/13.

 

I want to apply for the Capital One Cash Rewards Card.

 

 Thanks for the help.  (First Time PosterSmiley Happy

Message 1 of 5
4 REPLIES
Senior Contributor

Re: Amount of time to wait after paying off a credit card to sign up for a new one?

I would wait until atleast my credit reports were updated, and remember capital one will pull all 3, so when credit karma shows its paid off (from TU) your pretty safe knowing all 3 CRA have updated

Message 2 of 5
New Member

Re: Amount of time to wait after paying off a credit card to sign up for a new one?

The CRA's update that quickly?  I was not aware.  I know Credit Karma usually takes about 7-10 days after a payment for it to register with them.  Should I wait longer, IE: 2 weeks or A month before applying for the new card?  Thanks again for the input.

Message 3 of 5
Valued Contributor

Re: Amount of time to wait after paying off a credit card to sign up for a new one?

Most CC companies update within a day or so of the statement date. There are some exceptions. When you made the payment is not relevant to when the CB's will be updated.

Starting Score: 693 TU FICO, 679 EQ FICO
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Message 4 of 5
Senior Contributor

Re: Amount of time to wait after paying off a credit card to sign up for a new one?

Yes I forgot to say after the statement has cut, like 7-10 days after

Message 5 of 5