How do you apply for new credit cards? I Don't Want To Mess Up!!!

[Anonymous]

Hi -

I just wanted to know. How do you apply for new credit cards? Is there a "preffered" way to apply? 

Is it better to mail the app in? Or do it online? Or call in and speak to a rep to sign up for a new card?  

Also, if you apply for 3 cards in one day, is that TOO MUCH?  Whats the number that would be considered "Too Many Inquiries" ?   Is too many inquries in a month, or a year?  

I have 0 hard inquries in the past 13 months, fico scores are 702 eq / 689 tu / ?? ex (I locked the report and didnt unlock it yet), and I have one $4,000 credit line (VISA w/ a Small Local Bank) 

Thanks.

- S  

[FretlessMayhem]

When it comes to app sprees, it kind of depends on the lenders. For instance, if you were planning on apping Amex, I would app them first. Since they hate inquiries, you would want them to pull your credit before the 2 other inqs show up from your spree. If that makes sense.

As for the questions on inqs in general, it is pretty much different for each lender. Mailing/online/calling doesn't really matter. But if you do it on the phone, I guess it makes it that much easier to recon a denial should you be turned down. 

[Anonymous]

Plus, it depends on which CRA the inqs show up on.  Last time I app'd for three new cards, plus a CLI on Chase.  All four inqs showed on EX only (sitll got the cards...).

If you're lucky they'll get spread around, so each lender will see fewer inqs.

I'd do the most paranoid first, then 'regular' (non-paranoid??) credit cards, then store/gas cards...

[Anonymous]

I see. thanks you guys,

But which exactly are the "more paranoid ones" ?  would that be a credit union, Chase, or Bofa? 

I know amex is paranoid like it has been said, but I don't think I'm going to apply for them (directly yet). Isn't better to go AMEX thru BOA maybe thats less paranoid? let me know. thanks.

-S  

[FretlessMayhem]

Amex and PenFed are known to be quite less found of recent apping.

BOA and Chase should be fine. 

BOA has the Accelerated Cash Rewards Amex which is awesome. 1.25% back on all purchases.