Need To Quit Applying!

[Anonymous]

Started with a Discover IT secured card about 6 months ago, and decided to start applying for new cards based on the advice of a BoA employee. To my shock, I was getting approved back to back for new unsecured cards from Chase, Capital One, GE, etc. Now I'm in a dillema. I obviously got credit happen and opened a lot of new lines of credit, and I'm kind of hooked. I need to stop applying for each card. At this point opening about 6-7 new accounts in one month (my first accounts), how long should I realisticly stop before I apply for any more cards? Should I even bother applying for more? Just wait for increases? I have more than enough in limits to meet my monthly income. But it's so addicting, not because I'm actually even using the credit cards, it just feels like an accomplishment! I'm sure many of you have all felt this way at some point. 

[baller4life]

Freeze those bureaus.

[Anonymous]

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@Anonymous wrote:

Started with a Discover IT secured card about 6 months ago, and decided to start applying for new cards based on the advice of a BoA employee. To my shock, I was getting approved back to back for new unsecured cards from Chase, Capital One, GE, etc. Now I'm in a dillema. I obviously got credit happen and opened a lot of new lines of credit, and I'm kind of hooked. I need to stop applying for each card. At this point opening about 6-7 new accounts in one month (my first accounts), how long should I realisticly stop before I apply for any more cards? Should I even bother applying for more? Just wait for increases? I have more than enough in limits to meet my monthly income. But it's so addicting, not because I'm actually even using the credit cards, it just feels like an accomplishment! I'm sure many of you have all felt this way at some point. 

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Have you gotten denied yet?

[AvadaKedavra]

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@Anonymous wrote:

Started with a Discover IT secured card about 6 months ago, and decided to start applying for new cards based on the advice of a BoA employee. To my shock, I was getting approved back to back for new unsecured cards from Chase, Capital One, GE, etc. Now I'm in a dillema. I obviously got credit happen and opened a lot of new lines of credit, and I'm kind of hooked. I need to stop applying for each card. At this point opening about 6-7 new accounts in one month (my first accounts), how long should I realisticly stop before I apply for any more cards? Should I even bother applying for more? Just wait for increases? I have more than enough in limits to meet my monthly income. But it's so addicting, not because I'm actually even using the credit cards, it just feels like an accomplishment! I'm sure many of you have all felt this way at some point. 

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Whoa! 6-7 new cards in one  month is a whole lot! I was JUST like you a few months ago. I was successful in rebuilding my credit and kept getting approved for everything and it was like a drug! I told myself after my AMEX's I would stop since that was my goal. But then the whole NASA thing happened and I couldn't give up a 5 digit CL so I went for it and told myself that is all! It's really difficult and everyone deals with it a certain way, but I'm finally comfortable with what I have.

I tell myself it's better to wait because all these new accounts will become a reg flag to any new CCCs. Though my credit is excellent now, the more new accounts I have, the lower my AAoA gets and CCCs will start denying me. In the mean time I stay away from the Approval threads and just continue helping and sharing my experience with others on here. I create spreadsheets to track my current cards and sometimes the act of organizing what I currently have fixes my app itch. Some also actively post in the Garden thread for support.

Generally accounts are no longer "new" after 6-8 months. I'd wait until then before you start apping again...and only app again if you absolutely need it. Otherwise, stick with what you have. The good news it, in about 6 months you'll be eligible for CLIs on new accounts so that may even itch your "need" to apply for new apps. Personally, my goal is a CSP and I'm waiting until March/April to app for that because Chase will deny me with all these new accounts/inqs. The desire for the CSP is what's helping me not apply for anything else. 

Hope that helps.

[Anonymous]

you probably need to stop applying for cards for at least 6 months. getting approved might be addicting but it might get you into trouble for few different things. let the credit cards you have grow little bit, and get your credit score up, and apply later with higher credit score and get approved for huge limit credit cards with prime lenders than many cards with tiny limits.

[Anonymous]

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@Anonymous wrote:

you probably need to stop applying for cards for at least 6 months. getting approved might be addicting but it might get you into trouble for few different things. let the credit cards you have grow little bit, and get your credit score up, and apply later with higher credit score and get approved for huge limit credit cards with prime lenders than many cards with tiny limits.

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Heh.

I got approved for 5 cards in the last two months as well.

[lisat009]

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@Anonymous wrote:

Started with a Discover IT secured card about 6 months ago, and decided to start applying for new cards based on the advice of a BoA employee. To my shock, I was getting approved back to back for new unsecured cards from Chase, Capital One, GE, etc. Now I'm in a dillema. I obviously got credit happen and opened a lot of new lines of credit, and I'm kind of hooked. I need to stop applying for each card. At this point opening about 6-7 new accounts in one month (my first accounts), how long should I realisticly stop before I apply for any more cards? Should I even bother applying for more? Just wait for increases? I have more than enough in limits to meet my monthly income. But it's so addicting, not because I'm actually even using the credit cards, it just feels like an accomplishment! I'm sure many of you have all felt this way at some point. 

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Lol me and you both! It is very addicting until i get to the point that I got declined. I really wanted the Amex bce but nadaaaa declined I should have just waited and folow my instinct to not apply for now. For now, I will let my account age and grow my score then apply again in a few months or a year.

[flawesome]

I feel ya!

Toss a seedling in your sig(se the first opost of the gardening meeting), set a goal for yourself (ie. no apping for 6 months or until you reach a particular score ect) and keep to your goals! Freeze up the bureaus if you really can't stick to your goals any other way. Good luck!

I'm loosing my mind and it's only been 2 months for me ><

[Anonymous]

Yes I have been, and that's the problem. It's like a gambler who loses all of his money but still continues to dig a deeper hole for himself lol. I know I just need to stop when I get declined because of too many recent accounts / inquiries. But every once in a while another will approve me. At this point I'm going to stop, I'm just curious as to how long I should wait before I applied for an increase or applied for any new cards? I feel OK for now, but there are certain cards like the Chase Freedom card that I'm really interested in having, or the BoA visa. 

[AvadaKedavra]

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@Anonymous wrote:

Yes I have been, and that's the problem. It's like a gambler who loses all of his money but still continues to dig a deeper hole for himself lol. I know I just need to stop when I get declined because of too many recent accounts / inquiries. But every once in a while another will approve me. At this point I'm going to stop, I'm just curious as to how long I should wait before I applied for an increase or applied for any new cards? I feel OK for now, but there are certain cards like the Chase Freedom card that I'm really interested in having, or the BoA visa. 

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With the exception of AMEX, you typically have to wait at least 6 months for a CLI.