Looking for some advice before app spree

[CreditMuppet]

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@DarkScythe wrote:

The reason I had initially thought it'd be a good idea to app all at once was due to having read some articles that mentioned having a cluster of inqs close together providing less of a hit as it was regarded as "rate shopping" but then this was about loans, and maybe it's different for credit cards. I also figured it'd be easier to get a bunch of inqs, then have them all drop off together. Having inqs pop up every few months seems almost like I'm constantly in need of credit. Then again, I'm still fairly new to all this, so maybe this scenario is preferred to the former.

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Rate shopping only applies to Loan products such as mortgages and auto loans, it does not  including revolving credit such as credit cards.  Even rate shopping still lists every single inquiry, its just that in those cases FICO weighs those inquries differently.

[DarkScythe]

Excellent to know, thank you for the clarification!

[PetRaccoon]

If theres one thing I would really app for if your finger is that itchy and you must use that first inquiry, is AmEx for 2011 backdating.

[DarkScythe]

I'm not sure if I should do that, only because I don't have anything worth $1000 to buy in the next 90 days to get that signing bonus.

[dalebb]

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@DarkScythe wrote:

I understand that point. However, it's not quite as it appears.

He wanted to outright cancel one of the cards with the only reason of "there are too many." I've advised him in that case to cancel some of his newer cards, and leave the older cards to continue aging. The reason he has so many is that a few times he went to a Chase branch to conduct business, the bankers sign him up for another card despite his protests. He has like 4 or 5 Freedom cards and a Sapphire card, and he only uses one of them occasionally. I don't use any of his cards; they're just there to help my AAoA/tradelines/utilization. I don't mind taking myself off his cards as AU if that was his intention, and that's why I'm trying to build up my portfolio now so that I can eventually do just that.

In any case, since it appears that pretty much every single person is in agreement to not go on an app spree, I will start developing a new staggered plan.

If anyone else has any more suggestions, advice, or criticism, feel free to let me know; I appreciate all the comments.

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mayb change ur avatar pic?

[PetRaccoon]

Then try for a Zync.  I got the BCE knowing that I'm not likely to hit the bonus just for the backdating capability.

[DarkScythe]

I think that may actually work against me, as I really only want one Amex currently, and that would be the BCE. If I apply for the Zync now, it'd increase the amount of inquiries and lower my AAoA for when I do have $1k to spend on the BCE.

The only thing I can think of is maybe use it to buy a $1k Newegg gift card, or something similar, for myself before the 90 day window closes, but I'm not sure if gift cards count toward these things.

*Edit

lol dalebb, but the creepy bunny is awesome!