Question..

[JaeJae12]

hi, all i wen on a app spree last month got got approved 5/5, i was wondering if I should apply for one last card be fore hitting the garden for the next 3 years. So far my experian has 6inq as of today ( 2 falling off on nov 2013), my Tu has 3 as of 4/27/13, and I am not sure about my equifax, I was wondering if I should app for the ba better balnce rewards since i have a boa checking/savings to take advantage of that. Should i just stay in the garden and not apply or apply?.. Will this hurt my chances of my bce 3x cli in 2 months?

Thanks, for you suggestions

Heres the cards I already have:

BCE

Boa 123

Freedom

Forward

Discover it

Citi TYP

[LS2982]

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@JaeJae12 wrote:

hi, all i wen on a app spree last month got got approved 5/5, i was wondering if I should apply for one last card be fore hitting the garden for the next 3 years. So far my experian has 6inq as of today ( 2 falling off on nov 2013), my Tu has 3 as of 4/27/13, and I am not sure about my equifax, I was wondering if I should app for the ba better balnce rewards since i have a boa checking/savings to take advantage of that. Should i just stay in the garden and not apply or apply?.. Will this hurt my chances of my bce 3x cli in 2 months?

Thanks, for you suggestions

Heres the cards I already have:

BCE

Boa 123

Freedom

Forward

Discover it

Citi TYP

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Nope, time to hit the Garden for a year!! 

[eagles08]

If you really really want it and you're definitely gonna garden after this last one, go for it. Personally if I really wanted it and I planned to garden, I would! However, you already have an arsenal of fantastic cards! As for the 3X, I'm not sure if it will lower your chances or not. Anyone else got info on that?

[Laugh]

I think your time to apply has pass. The 5 new accounts will have obliterated your AAOA. Therefore, your score too.

You're definitely going to have to recon for it. The credit analyst might be a bit more lenient since you have both checking and saving accounts with BOA, but you'll have to do a good job explaining why you want this card after opening 5 new cards in the previous month.

With that said, the outcome could be totally be the opposite of what I just wrote. Maybe your income and BOA checking/saving account history will pull through and get you that approval.

Who knows, right? I'd say go for it. Haha good luck!

[JaeJae12]

I only lost 2 points on exp so far cause my freedom is reporting, hopefully it only drops like 30 points so I can recover it in 6months.. I think I will recover fast IMO due to super super clean history( no negatives what so ever) and I always pif..

[Laugh]

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@JaeJae12 wrote:
I only lost 2 points on exp so far cause my freedom is reporting, hopefully it only drops like 30 points so I can recover it in 6months.. I think I will recover fast IMO due to super super clean history( no negatives what so ever) and I always pif..

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Only your freedom has reported? Then go for it! 

I thought all 5 new accounts were reporting. 

[SnackTrader]

I wouldn't do it. You already have a ton of spending bonuses to hit, and the BofA Better Balance card requires you to use it and let a balance report to get the full effect. So, use the cards you have for a few months and then reevaluate, you would be surprised how much your life changes with 5 new credit cards.

[Laugh]

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@SnackTrader wrote:
I wouldn't do it. You already have a ton of spending bonuses to hit, and the BofA Better Balance card requires you to use it and let a balance report to get the full effect. So, use the cards you have for a few months and then reevaluate, you would be surprised how much your life changes with 5 new credit cards.

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I agree with the substantial spending needed to receive those other bonuses, but it doesn't really apply to the Better Balance card. I read on another credit forum that in order to qualify for the quarterly bonus, one must pay in full or pay the required minimum every month. If you were to charge $1 on the Better Balance card and then let it report, you would only need to pay in full the 1 dollar in order to qualify for the quarterly bonus. I checked the rules and the fine print. I don't think charging $1 and then paying it off every month will disqualify one from the bonus. 

Here's the link to the program rules:

https://www.managerewardsonline.fiacardservices.com/cms/published/root/dcb/PDF/BAC_BetterBalance_PR....

[SnackTrader]

That's fine, but it's still another $1 of required spending. Whereas if the OP wait another 3 months and reevaluates, that $1 will be easier to spend or OP may realize that the card is unnecessary for their spending needs.

Either way, I think people discount how big of a chance monitoring 5 new CCs is to one's routine. I advocate waiting from experience (I only added 3 cards in my latest spree).

Thanks for doing the research just the same, Laugh.

[Laugh]

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@SnackTrader wrote:
That's fine, but it's still another $1 of required spending. Whereas if the OP wait another 3 months and reevaluates, that $1 will be easier to spend or OP may realize that the card is unnecessary for their spending needs.

Either way, I think people discount how big of a chance monitoring 5 new CCs is to one's routine. I advocate waiting from experience (I only added 3 cards in my latest spree).

Thanks for doing the research just the same, Laugh.

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No problem. I like to google the cards before I apply. 

I agree that 5 new credit cards is something not to be discounted especially with those spending bonuses.

I just added 3 cards too. Haha