How many CC applications = an app spree?

[Anonymous]

I ask because I app'd 3 times in 2 days. One says wait (that means rejection of course). One was rejection. Third was an amazing, surprising approval for $5k limit on Chase Sapphire Preferred.

Wondering how this will affect my scores. 706TU and 678EQ on April 27.

My total credit limit was $4k, 30% usage. New Card will make it $9k total credit available. But 2 rejections thrown in. I shouldn't apply again soon right? hehe

Also,  Sapphire won't undo the approval will they? It was online and I'm supposed to get it within a week but maybe somehow they'll see I tried other apps after them. Sapphire was first. 

[RobertEG]

Approval is unrelated to the credit inquiries.  The inquiries are made to secure the information they need to determine approval.  Once a CRA has provided a credit report, the horse is out of the barn.

No way to undo their provision of the credit report, and thus remove that fact from your file if it was for a legitimate permissible purpose.

As to how much is a "spree," all I can say with any assurance is that FICO does consider the number of inquiries, but beyond that, no public information on how the number affects the score.  And it goes beyond scoring.  When others do a manual review of your CR, their concern over new inquiries is totally up to them. 

[Anonymous]

Reminds me my FICO score summary was stating one reason my scores have been going up was due to no new inquiries in a long time. That will certainly change now.

I wonder if they differentiate between an inquiry/approval and an inquiry/denial...

[llecs]

A "spree" is relative to what? For those of us gardening, one is a spree.

Inquiry damage is overrated, IMO. If you were inquiry-free before all of this, I don't see you losing more than 10, if any at all. There could be a new account ding, though. IME, I've lost 20-25 when adding a new account. YMMV based on changes to AAoA, if any, rebucketing, if any, and impact due to adding new credit. That's influenced by the number of new accounts you have (typically a year or less prior to this spree). The most I ever lost was 50 pts on EQ FICO after adding 3 new TLs in a week, but I was rebucketed in that situation too. I've always found that all of my points have returned within a year (provided I didn't app within that time).

Any ding will be offset by changes to util. If you were at 30% on $4k in CLs ($1200 in balances), and if that same $1200 remains the same when adding the new CC(s) and there are no balances added to those, then your util drops to 13%. Most, if not all, of your losses due to adding the new accounts will be erased by improvements in util, I bet.

[spengbab]

I applied and got 5 credit cards in two months, and my credit score tanked but I did this on purpose to maintain a good AAOA for the future. No credit cards before then and I'm going on strong, my drop was 45 points total but I had to spend $1200 in car repairs out of the blue. Just went up by 6 a few days ago.
An app spree? Some people have posted here applying for like 20+ credit cards with most or all getting approved. From what it sounds like maybe over 4 seems pushing it. Just don't open more than what your finances can handle... and your mind. I doubt getting 20 different statements every month will be a fun thing to keep track of.

[FrugalRican]

I applied and was approved for 3 cards in the last 3 months. Even if it's 1 per month... for a guy who had 1 credit card for 9 years, that's a spree.

[Mailak]

I had no new CCs or applications in 5 years. I test the waters last year with a department charge card and then waited another 5 months. Then yesterday, I applied for 2 AMEX cards within 30 minutes of each other. That was quite an applciation spree I went on! One for the books as far as I am concerned