10-29-2012 01:40 PM
I have a doubt regarding app sprees. I have read often that it is better to apply for credit on the same day if applying on several places so that apps go before the inquiries are posted. My question is, does this really work? I applied for 3 cards a few days ago and got approved for 2, the inquiries were there as soon as 6AM the next day (credit karma), the cards haven't reported yet.
I'm thinking if the creditors report immediately (or faster than you can walk/drive to the next store) to apply online for several cards using multiple windows xD (if it is legal).
10-29-2012 01:59 PM - edited 10-29-2012 02:14 PM
I would think a hard inquiry reports immediately since it is the hard inquiry for your credit report which is needed to approve you for the first card. There is no delay. So, the second app would pull a report showing one recent hard pull.... and so on. The only time I can see an 'app spree' avoiding this would be to choose card providers that you know pull from only one CRA and intentionally not overlapping or doubling up very much.
Edit: I should point out that I believe this simply because any soft pulls I do through all of the services I am signed up for seem to post immediately nd be visible on the next service, even when I pull the same day.