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What is the recommended minimum...

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Marv94
Established Member

What is the recommended minimum...

...amount of time to allow to elapse between applying for another major CC?

 

I was approved for a CitiBank Rewards card with a $4K CL based on a 745 EX score on 5-27, and was wondering how many days/weeks/months to wait before applying for another CC, also utilizing Experian?

 

If you've done something like this please share the details regarding the time between the two apps, as well as the results. (both cards & their respective CLs, if possible).

 

Thanks!!

 

 

Message 1 of 4
3 REPLIES 3
MarineVietVet
Moderator Emeritus

Re: What is the recommended minimum...

 


@Marv94 wrote:

...amount of time to allow to elapse between applying for another major CC?

 

I was approved for a CitiBank Rewards card with a $4K CL based on a 745 EX score on 5-27, and was wondering how many days/weeks/months to wait before applying for another CC, also utilizing Experian?

 

If you've done something like this please share the details regarding the time between the two apps, as well as the results. (both cards & their respective CLs, if possible).

 

Thanks!!

 

 


 

May I ask if you have other CC's and what the credit limits are? Perhaps you don't even need another card for a good while.

 

 

From a BK years ago to:
9/09 EX pulled by lender 802
3/10 EQ- 800
4/10 TU -772

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Message 2 of 4
RobertEG
Legendary Contributor

Re: What is the recommended minimum...

I agree with the question raised by marinevet.

Why do you want another revolving line of credit?  Another new inq, and a shortening of your AAoA? The need to monitor another CC to keep its util under 10%, and also not reprot any monthly balance?

With a current FICO of 745, that demonstates a good balance in all FICO scoring categories, and credit mix.

Unless other factors are at play that I dont see, I would not seek further revolving credit purely for the anticpated CL increase.

 

Message 3 of 4
Anonymous
Not applicable

Re: What is the recommended minimum...


@Marv94 wrote:

...amount of time to allow to elapse between applying for another major CC?

 

I was approved for a CitiBank Rewards card with a $4K CL based on a 745 EX score on 5-27, and was wondering how many days/weeks/months to wait before applying for another CC, also utilizing Experian?

 


It probably depends more on the criteria of the card you're wanting to app for - some creditors are more inquiry sensitive than others.

 

Do the math on your current AAofA, and what it would be with another card.  That will also have a big impact.

 

Also, if you're a rebuilder, FICO is much easier on opening new accounts than if you have a nice fat jucy report.

Message 4 of 4
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