When to apply for loans, and when to apply for cards?

[Anonymous]

So I'm planning a CC AMEX and Chase spree in February Marchish when my cards hit 6months, I also will need to get a 6k installment loan for my home office but more importantly so I can have a 2nd installment that is a little beefier in the mix. What do you guys think. What would be a more ideal plan of attack. Feb, app for PRG, ED, CSP and loan, then March app for Freedom, April Slate,

i guess my my question is when do you apply for loans, and when to apply for cards for best results. I see in the mortgage section all the time people got approved for a mortgage, then they go on a CC spree and get insane CL? Am I imagining this?

[CreditDunce]

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@Anonymous wrote:

So I'm planning a CC AMEX and Chase spree in February Marchish when my cards hit 6months, I also will need to get a 6k installment loan for my home office but more importantly so I can have a 2nd installment that is a little beefier in the mix. What do you guys think. What would be a more ideal plan of attack. Feb, app for PRG, ED, CSP and loan, then March app for Freedom, April Slate,

i guess my my question is when do you apply for loans, and when to apply for cards for best results. I see in the mortgage section all the time people got approved for a mortgage, then they go on a CC spree and get insane CL? Am I imagining this?

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I think you will be better off to do PRG, ED & Freedom.  Then 6 months later hit up Chase for the CSP.  If you don't mind lower CL's then I would get both Chase cards at the same time.  But Chase HP for customer initiated CLI's.

I wouldn't get the Slate unless you really have a balance to transfer.  If you do, then I would get the Slate and delay the other App's.  I would pay off any other CC's before App'g for cards with sign on bonuses.  You will need to spend money to get all of the sign on bonuses.  The only other use I can think of for the Slate is for a back door CLI.

If you just wanted an open installment loan, the share secured loans are much cheaper.  Auto loans also work nicely.  I think your scores are plenty high to get a personal loan, but I am just questioning how much you will have to pay for it.  I just think that you might be better off doing the shared secure loan and running the office renovation charges through your CC's as a way to meet sign on spend.  Most CC's will give you a 0% introductary offer when you first get the cards if you need more time to pay. 

PS most of the people who go on an app spree after the mortgage try to do it before the loan hits their CR.  They have spent the past year in the garden and have maximized their current credit score.   The could also wait for 6 months after the mortgage and get great CL's.

[Luscher]

If you are going to app for another amex do it in jan for max backdating

[Anonymous]

I don't think they will let me. my cards are only y6months in feb

[jamie123]

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@Anonymous wrote:

So I'm planning a CC AMEX and Chase spree in February Marchish when my cards hit 6months, I also will need to get a 6k installment loan for my home office but more importantly so I can have a 2nd installment that is a little beefier in the mix. What do you guys think. What would be a more ideal plan of attack. Feb, app for PRG, ED, CSP and loan, then March app for Freedom, April Slate,

i guess my my question is when do you apply for loans, and when to apply for cards for best results. I see in the mortgage section all the time people got approved for a mortgage, then they go on a CC spree and get insane CL? Am I imagining this?

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I think you are getting too worked up about this! You need to slow down a bit to ensure you get as high of CLs as possible.

I would suggest you add 2 more cards in 6 months. I would suggest 1 Chase card and another AMEX or CitiBank card. You will be tanking your AAoA at this point if you app for too many cards. You will have a lot of new accounts that are less than 1 year old.

Then go for the loan. You can apply at Alliant CU for a personal loan. Personal installment loans have kind of gone out of favor nowadays. They are typically hard to get unless you have good credit, which you do, but have been mostly replaced with credit cards.

You should then wait at least another 6 months (When your BCP and Discover are 1 year old.) before adding another 2 CCs. The longer you wait, the higher CLs you should recieve.

[takeshi74]

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@Anonymous wrote:

What do you guys think. What would be a more ideal plan of attack. Feb, app for PRG, ED, CSP and loan, then March app for Freedom, April Slate,

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Doesn't matter what we think.  What's your biggest priority?  If the loan is a must then get it first before everything else hits your reports.

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@Anonymous wrote:

I see in the mortgage section all the time people got approved for a mortgage, then they go on a CC spree and get insane CL? Am I imagining this?

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 Sounds like you imagining causality.  Getting approved for a mortgage doesn't guarantee high CL's.  As stated above, people tend to do that because the mortgage takes precedence and they want to get CC apps in before the mortgage hits their reports.