Best Plan to Apply For Some Cards without Too Much Damage to Score

[improvingmycredit]

@millenion
How long is your AAoA now and how many cards do you already have? Also- when was your last app spree?
Unless you are rebuilding- that many new accounts, if approved for them, will definitely affect your AAoA. Also- depending on your profile and credit history- some lenders might get concerned with all the new credit.
I'd really look at obtaining the cards you actually need to justify your spend habits instead of trying for all of them. That's quite a list.
Adding a couple of cards that really benefit you might be more conducive to building a nice portfolio. Hope this helps.

[CollegeStudent530]

Awww-- that would be unfortunate if all 3 of my credit reports were pulled. Since I will be gardening for awhile, this thankfully will have little impact on me. Going to garden all my cards like crazy!

Thanks for the observation though! =) 

[millenion]

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@Slab wrote:

I can highly recommend the AMEX BCE because I recently was approved for a significant credit limit and they pulled my Experian only which was nice because I didn't have any inquiries on my Experian. Idon't know about the other cards you have listed. Do you happen to know your EX score?

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Not yet I'm alittle scared to look. My TU is 699 though

[millenion]

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@CollegeStudent530 wrote:
Amex pulled TU for my BCE this month.

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Did you get a high limit? I don't want to get a low limit or get denied because it would be a waste of an inquiry

[millenion]

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@improvingmycredit wrote:
@millenion
How long is your AAoA now and how many cards do you already have? Also- when was your last app spree?
Unless you are rebuilding- that many new accounts, if approved for them, will definitely affect your AAoA. Also- depending on your profile and credit history- some lenders might get concerned with all the new credit.
I'd really look at obtaining the cards you actually need to justify your spend habits instead of trying for all of them. That's quite a list.
Adding a couple of cards that really benefit you might be more conducive to building a nice portfolio. Hope this helps.

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That's a good idea, what does AAoA stand for? Sorry I'm still new to the forums. lol If that is the age of my accounts then it is 2 years old. My last spree was in June so I'm taking the time to make my score rebuild . I really want an Amex since I don't have it but the signup bonuses  for the others are very tempting. If I wait 60-90 after every app will give me a better shop of getting the cards?

[CollegeStudent530]

I got a $2,000 limit. I was more than happy with that since I am a student with a limited income and credit history. My AAOA ( average age of accounts) is about 1 yearish.

[improvingmycredit]

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@millenion wrote:

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@improvingmycredit wrote:
@millenion
How long is your AAoA now and how many cards do you already have? Also- when was your last app spree?
Unless you are rebuilding- that many new accounts, if approved for them, will definitely affect your AAoA. Also- depending on your profile and credit history- some lenders might get concerned with all the new credit.
I'd really look at obtaining the cards you actually need to justify your spend habits instead of trying for all of them. That's quite a list.
Adding a couple of cards that really benefit you might be more conducive to building a nice portfolio. Hope this helps.

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That's a good idea, what does AAoA stand for? Sorry I'm still new to the forums. lol If that is the age of my accounts then it is 2 years old. My last spree was in June so I'm taking the time to make my score rebuild .(Great Idea!!! ) I really want an Amex since I don't have it but the signup bonuses  for the others are very tempting. If I wait 60-90 after every app will give me a better shop of getting the cards?

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AAoA = Average age of accounts  

FICO looks at the AAoA and the age of your actual credit file (oldest account)

With a 699 TU FICO, you'd probably be in the neighborhood of approval for BCE if you didn't acquire a ton of inqs on EX (and TU if you are borderline approval) on your app spree in June.  My personal recommendation is wait the full 6 months then app the Amex BCE.  You'll likely get a better CL and maybe better terms.  It's a rule of thumb that's it best to wait at least 6 months between apping for best results because your inqs have aged a bit and your FICO typically rebounds within that time frame.  That's just a rule of thumb and by no means the gospel.  YMMV as always.  How many new accounts did you pick up in June?  Congrats on your approvals! 

[millenion]

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@CollegeStudent530 wrote:

I got a $2,000 limit. I was more than happy with that since I am a student with a limited income and credit history. My AAOA ( average age of accounts) is about 1 yearish.

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Great amount, funny thing is that all the cards that you have I'm actually pursuing. lol How do you list what cards you have so that it shows up on your profile like that ? (off topic)

[millenion]

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@improvingmycredit wrote:

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@millenion wrote:

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@improvingmycredit wrote:
@millenion
How long is your AAoA now and how many cards do you already have? Also- when was your last app spree?
Unless you are rebuilding- that many new accounts, if approved for them, will definitely affect your AAoA. Also- depending on your profile and credit history- some lenders might get concerned with all the new credit.
I'd really look at obtaining the cards you actually need to justify your spend habits instead of trying for all of them. That's quite a list.
Adding a couple of cards that really benefit you might be more conducive to building a nice portfolio. Hope this helps.

---

That's a good idea, what does AAoA stand for? Sorry I'm still new to the forums. lol If that is the age of my accounts then it is 2 years old. My last spree was in June so I'm taking the time to make my score rebuild .(Great Idea!!! ) I really want an Amex since I don't have it but the signup bonuses  for the others are very tempting. If I wait 60-90 after every app will give me a better shop of getting the cards?

---

AAoA = Average age of accounts  

FICO looks at the AAoA and the age of your actual credit file (oldest account)

With a 699 TU FICO, you'd probably be in the neighborhood of approval for BCE if you didn't acquire a ton of inqs on EX (and TU if you are borderline approval) on your app spree in June.  My personal recommendation is wait the full 6 months then app the Amex BCE.  You'll likely get a better CL and maybe better terms.  It's a rule of thumb that's it best to wait at least 6 months between apping for best results because your inqs have aged a bit and your FICO typically rebounds within that time frame.  That's just a rule of thumb and by no means the gospel.  YMMV as always.  How many new accounts did you pick up in June?  Congrats on your approvals! 

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Thanks, only 2 , I really wanted the Sony card for the $100 bonus but Cap 1 screwed me over

[CollegeStudent530]

Go to My Settings and edit your signature. Good luck on your credit card journey! Yeah, I am definitely content with my card choices, credit scores, and card limits. I can't really complain with a very limited history and income.