One new card every 90 days?

[keithB]

Anyone ever hear of this?

I read online about some airline travel guru (don't remember his name) that says this is his system and he has never been denied.  Also, he states he get pertpetual 5 digit approvals.

So I ask anyone that is interested, have you ever heard of this system?  Have you ever tried this system?  Know anybody that uses it?  Interested to know because I'm stuck in the garden for one year and if I come out with a nice score (estimated on the score calculator to be 750ish), I'd like to keep my score up and get some higher credit limits.

Thanks for looking.

[red259]

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@keithB wrote:

Anyone ever hear of this?

I read online about some airline travel guru (don't remember his name) that says this is his system and he has never been denied.  Also, he states he get pertpetual 5 digit approvals.

So I ask anyone that is interested, have you ever heard of this system?  Have you ever tried this system?  Know anybody that uses it?  Interested to know because I'm stuck in the garden for one year and if I come out with a nice score (estimated on the score calculator to be 750ish), I'd like to keep my score up and get some higher credit limits.

Thanks for looking.

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There is no such thing as a system that works for everyone. Its based on your credit report and income etc. When just starting out every 90 days for apps is likely too much. For people with really thick files they can apply every 90 days and be ok, since they will have a long AAoAs. When starting out I would get 2-3 cards per app cycle and app once every six months. Of course, if there are no cards you really need then I would stay in the garden and let your accounts age until an offer you are interested in pops.

[keithB]

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@red259 wrote:

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@keithB wrote:

Anyone ever hear of this?

I read online about some airline travel guru (don't remember his name) that says this is his system and he has never been denied.  Also, he states he get pertpetual 5 digit approvals.

So I ask anyone that is interested, have you ever heard of this system?  Have you ever tried this system?  Know anybody that uses it?  Interested to know because I'm stuck in the garden for one year and if I come out with a nice score (estimated on the score calculator to be 750ish), I'd like to keep my score up and get some higher credit limits.

Thanks for looking.

---

There is no such thing as a system that works for everyone. Its based on your credit report and income etc. When just starting out every 90 days for apps is likely too much. For people with really thick files they can apply every 90 days and be ok, since they will have a long AAoAs. When starting out I would get 2-3 cards per app cycle and app once every six months. Of course, if there are no cards you really need then I would stay in the garden and let your accounts age until an offer you are interested in pops.

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Understandable.  I'm not trying to "beat the system".   I have only 4 cards because I'm so new (5 including secured Cap1).  Before that, my last loan was 3 years ago for a car.  I never had BK, no write-offs, nothing.  The reason my credit history is thin is simply, I hate credit.  But I've come to realize that it is currently a necessary evil. Thats why in the last 6 months, I app/received 6 accounts (incl. secured). Obviouslty my credit score dropped like a rock, 35pts.

That being said, why not make the best of it?  I need more accounts to increase my credit score so I'll apply even if I don't "need" them.  I choose the no annual fee cards, rewards and cash back don't mean much to me as I don't travel anymore (got that out of my system) and I'd rather pay cash than charge stuff.

Like I say, I don't make the rules, I'm just playing the game. But thanks for your input =)

[nachoslibres]

Credit isn't a necessary evil - you don't have to have it.  I went 4 years without it and did fine.  Sure - someone with absolutely no credit might have to pay a deposit on a utility or get their previous utiility to write a recommendation letter, but there are people who have no credit and are surviving and/or thriving just like every one else.  In fact, the 4 years I went without credit helped me to go from living paycheck to paycheck to getting a savings fund in place and start using a budgeting system when I acrrue for any and every purchase that I know I'm going to have to make.

I use credit because it allows me to get rewards - or part of the money that I was going to spend anyway - back.  That's the only reason.  I do like to see good credit scores - to me it is a game - but I'm not going to spend extra money or get additional credit lines in order to increase those scores.

[CarnegieS]

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@keithB wrote:

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@red259 wrote:

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@keithB wrote:

Anyone ever hear of this?

I read online about some airline travel guru (don't remember his name) that says this is his system and he has never been denied.  Also, he states he get pertpetual 5 digit approvals.

So I ask anyone that is interested, have you ever heard of this system?  Have you ever tried this system?  Know anybody that uses it?  Interested to know because I'm stuck in the garden for one year and if I come out with a nice score (estimated on the score calculator to be 750ish), I'd like to keep my score up and get some higher credit limits.

Thanks for looking.

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There is no such thing as a system that works for everyone. Its based on your credit report and income etc. When just starting out every 90 days for apps is likely too much. For people with really thick files they can apply every 90 days and be ok, since they will have a long AAoAs. When starting out I would get 2-3 cards per app cycle and app once every six months. Of course, if there are no cards you really need then I would stay in the garden and let your accounts age until an offer you are interested in pops.

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Understandable.  I'm not trying to "beat the system".   I have only 4 cards because I'm so new (5 including secured Cap1).  Before that, my last loan was 3 years ago for a car.  I never had BK, no write-offs, nothing.  The reason my credit history is thin is simply, I hate credit.  But I've come to realize that it is currently a necessary evil. Thats why in the last 6 months, I app/received 6 accounts (incl. secured). Obviouslty my credit score dropped like a rock, 35pts.

That being said, why not make the best of it?  I need more accounts to increase my credit score so I'll apply even if I don't "need" them.  I choose the no annual fee cards, rewards and cash back don't mean much to me as I don't travel anymore (got that out of my system) and I'd rather pay cash than charge stuff.

Like I say, I don't make the rules, I'm just playing the game. But thanks for your input =)

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Curious why you think that? It been stated here that you need 3 cards to maximize fico scoring and you already have that. More accounts does not mean a higher credit score. 

[B335is]

I could see someone getting approved every 90 days with a thick file, but who knows what his income is, is he closing out other accounts, etc...  It's a common practice to people churning travel rewards cards, but it will not yield a good credit score with the constant hit to your aaoa.

[keithB]

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@CarnegieS wrote:

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@keithB wrote:

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@red259 wrote:

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@keithB wrote:

Anyone ever hear of this?

I read online about some airline travel guru (don't remember his name) that says this is his system and he has never been denied.  Also, he states he get pertpetual 5 digit approvals.

So I ask anyone that is interested, have you ever heard of this system?  Have you ever tried this system?  Know anybody that uses it?  Interested to know because I'm stuck in the garden for one year and if I come out with a nice score (estimated on the score calculator to be 750ish), I'd like to keep my score up and get some higher credit limits.

Thanks for looking.

---

There is no such thing as a system that works for everyone. Its based on your credit report and income etc. When just starting out every 90 days for apps is likely too much. For people with really thick files they can apply every 90 days and be ok, since they will have a long AAoAs. When starting out I would get 2-3 cards per app cycle and app once every six months. Of course, if there are no cards you really need then I would stay in the garden and let your accounts age until an offer you are interested in pops.

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Understandable.  I'm not trying to "beat the system".   I have only 4 cards because I'm so new (5 including secured Cap1).  Before that, my last loan was 3 years ago for a car.  I never had BK, no write-offs, nothing.  The reason my credit history is thin is simply, I hate credit.  But I've come to realize that it is currently a necessary evil. Thats why in the last 6 months, I app/received 6 accounts (incl. secured). Obviouslty my credit score dropped like a rock, 35pts.

That being said, why not make the best of it?  I need more accounts to increase my credit score so I'll apply even if I don't "need" them.  I choose the no annual fee cards, rewards and cash back don't mean much to me as I don't travel anymore (got that out of my system) and I'd rather pay cash than charge stuff.

Like I say, I don't make the rules, I'm just playing the game. But thanks for your input =)

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Curious why you think that? It been stated here that you need 3 cards to maximize fico scoring and you already have that. More accounts does not mean a higher credit score. 

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According to the Credit Karma site, 7-9 revolving credit accounts is the optimal number of account. I realize more accounts don't equate to higher score.  I had 1 account with Capital One Secured and had a FICO of 730.  I have 6 accounts not and have a 692 FICO. I'm building a credit history.  For the past 12 years, I've been an enigma.

[keithB]

Your right, it isn't "necessary"... That was me being dramatic.  I've lived without it for 9 years.  And if I win the lottery tomorrow, I'll buy an abandoned missle silo in Montanna and to heck with credit.

But until them, I'm just playing the game because someday I might need it for something.  It's like my cell phone.  Do I really need it?  No, but you never know when it can get you out of a jam =)

[keithB]

Every 90 days will only show 3 hits a year... You think that's a "constant hit"?

I guess me question is in reference to the app sprees that seem to be the norm here.  Which is worse, an app spree or a systematic 3 yearly hits that one falls off every three months?

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@B335is wrote:

I could see someone getting approved every 90 days with a thick file, but who knows what his income is, is he closing out other accounts, etc...  It's a common practice to people churning travel rewards cards, but it will not yield a good credit score with the constant hit to your aaoa.

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[longtimelurker]

The major reason that "pros" will app often (and usually several cards per 90 days rather than 1) is for the sign-up bonuses, frequently travel as they tend to be much higher, but cashback works too.   Without a thick file, as others have said, it is a more risky strategy.  One per 90 days might be ok, if you can spread out the inqs among the different CRAs as much as possible (anyone can double pull confusing things).  Your AAoA takes a hit if successful, so make sure some are Amex for backdating.