topic Re: App sprees? in Credit Card Applications

App sprees?

BeeH11 — Thu, 06 Nov 2014 13:37:37 GMT

I don't quite understand app sprees. I get that you apply for multiple cards on the same day. Why? Do the HPs not show up right away? What's the purpose?

Re: App sprees?

Anonymous — Thu, 06 Nov 2014 13:41:14 GMT

@BeeH11 wrote:
I don't quite understand app sprees. I get that you apply for multiple cards on the same day. Why? Do the HPs not show up right away? What's the purpose?

They show up, Just not immediately. The best way to do so is to apply for lenders that pull different reports (assuming they fit your needs)

The purpose is that the new accounts while driving down your AAoA, will age together.

Re: App sprees?

lee645 — Thu, 06 Nov 2014 14:32:43 GMT

They do show up immediately.

As stated it's preferable to apply with issuers that pull different reports and your best off applying for 3 cards if one double pulls they will see only one other inq.

I think it mostly has to do with these forums. You hear of all these new cards that may fit your spending with great bonuses but most people can't get away with applying for 1-2 a month so you wait 6 months to a year and apply for 3-5 (or more) and let them age 6 months + and do it again with the new cards you want.

TLDR: we are addicted to credit applications

Re: App sprees?

Anonymous — Thu, 06 Nov 2014 14:48:43 GMT

@lee645 wrote:
They do show up immediately.

As stated it's preferable to apply with issuers that pull different reports and your best off applying for 3 cards if one double pulls they will see only one other inq.

I think it mostly has to do with these forums. You hear of all these new cards that may fit your spending with great bonuses but most people can't get away with applying for 1-2 a month so you wait 6 months to a year and apply for 3-5 (or more) and let them age 6 months + and do it again with the new cards you want.

TLDR: we are addicted to credit applications

A yearly app-o-rama is customary when your profile supports such a thing.

I slow-apped mine this year due to my profile being fairly borderline for prime anything

Re: App sprees?

BeeH11 — Thu, 06 Nov 2014 15:01:09 GMT

What does "your best off applying for 3 cards if one double pulls they will see only one other inq" mean? Spefically, what is a double pull?

Thanks!

Re: App sprees?

Anonymous — Thu, 06 Nov 2014 15:10:23 GMT

@BeeH11 wrote:
What does "your best off applying for 3 cards if one double pulls they will see only one other inq" mean? Spefically, what is a double pull?
Thanks!

a double pull is pulling 2 credit bureau reports i.e. transunion and equifax.