topic Re: Too Many Accounts Too Soon in Credit Card Applications

Too Many Accounts Too Soon

Anonymous — Thu, 23 Jan 2020 22:43:03 GMT

I just received another turn down with too many accounts too soon letter and not enough long history denial letter. My recent TR is 776, EX 767, EQ 730 2 inquiry and income north of 100k with less than 10k debt. What card doesnt care so much or will give approval or do I have to garden for 6 months?

Re: Too Many Accounts Too Soon

Anonymous — Thu, 23 Jan 2020 23:01:43 GMT

Garden for 6 months. I'm sure there are cards that possibly won't care, but then you'd have to worry about the quality and usefulness of the card and possible low limits.
You have the answer to the test....go to the garden.

Re: Too Many Accounts Too Soon

Anonymous — Thu, 23 Jan 2020 23:13:10 GMT

@Anonymous wrote:
Garden for 6 months. I'm sure there are cards that possibly won't care, but then you'd have to worry about the quality and usefulness of the card and possible low limits.
You have the answer to the test....go to the garden.

Re: Too Many Accounts Too Soon

AverageJoesCredit — Thu, 23 Jan 2020 23:31:53 GMT

If you list what cards hsve been denying you and whst you are interested you might receive more insightful advice

Re: Too Many Accounts Too Soon

Anonymous — Thu, 23 Jan 2020 23:34:49 GMT

How many cards have you obtained in the last 6 months and 12 months?

If your average age of accounts is low from a bunch of new cards, that’s working against you too. Scores certainly aren’t everything, as you’re seeing.

To answer your question: AMEX, NFCU, PNC, and BB&T off the top of my mind.

Re: Too Many Accounts Too Soon

Shooting-For-800 — Fri, 24 Jan 2020 00:39:39 GMT

Garden for 13 months and start fresh.

Re: Too Many Accounts Too Soon

Anonymous — Fri, 24 Jan 2020 01:29:27 GMT

Great Idea. So did you get 5 big cards a year? Is that the trick on getting the big limit cards?

I have NFCU, 25k, First bank25k, 4 AMEX cards but thats it so far looking for 100k more.

Re: Too Many Accounts Too Soon

Gmood1 — Fri, 24 Jan 2020 13:07:03 GMT

Yeah, time to give it a rest period.
Depending on how fast the last batch was added.
You may need to chill for 90 to 180 days.
Since we really don't know your profile. It's difficult to say.
Most credit files with solid mortgage/installment loan history. Seem to handle the onslaught of new accounts better than a young, thin file.

Whenever I'm denied, too many new accounts is the #1 reason. Not inquiries or available credit.

Re: Too Many Accounts Too Soon

disney2 — Fri, 24 Jan 2020 13:53:27 GMT

If you want them right away, I would stay away from hard pulls and look on prequal sites. Maybe BBT, Discover, etc

Re: Too Many Accounts Too Soon

Brian_Earl_Spilner — Fri, 24 Jan 2020 14:02:30 GMT

You were denied for too many new accounts. Why would you want to make that worse by adding more?

Re: Too Many Accounts Too Soon

Remedios — Fri, 24 Jan 2020 15:42:06 GMT

I think the really important question is, why do you need another card
I'm assuming you just want "a card" because you're asking who would approve you as only criteria

Re: Too Many Accounts Too Soon

Anonymous — Fri, 24 Jan 2020 15:57:41 GMT

Good idea i tried discover since it was a soft pull and

TOO MANY BANK REVOLVING TRADES OPENED IN THE LAST 24 MONTHS
INSUFFICIENT CREDIT HISTORY IN RECENTLY OPEN BANK REVOLVING ACCOUNTS
INSUFFICIENT CREDIT HISTORY IN BANK REVOLVING ACCOUNTS

Thanks though. Guess I'll lay low

Re: Too Many Accounts Too Soon

Anonymous — Fri, 24 Jan 2020 15:59:50 GMT

I'm trying to raise more to do fix and flips instead of using so much hard money.

Re: Too Many Accounts Too Soon

Traveler101 — Sat, 25 Jan 2020 02:47:41 GMT

Be careful on your apping. Best to lay low for a while. You do not want to risk adverse action from one of your curren creditors. Some banks will do that for aggressively seeking credit. They have been known to cld, thus raising your util and damaging score.

Re: Too Many Accounts Too Soon

Meanmchine — Sat, 25 Jan 2020 04:22:22 GMT

Good luck to you

Re: Too Many Accounts Too Soon

M_Smart007 — Sat, 25 Jan 2020 15:49:28 GMT

@Anonymous wrote:
Good idea i tried discover since it was a soft pull and

TOO MANY BANK REVOLVING TRADES OPENED IN THE LAST 24 MONTHS
INSUFFICIENT CREDIT HISTORY IN RECENTLY OPEN BANK REVOLVING ACCOUNTS
INSUFFICIENT CREDIT HISTORY IN BANK REVOLVING ACCOUNTS

Thanks though. Guess I'll lay low

Let some things age OP.

Re: Too Many Accounts Too Soon

Anonymous — Sun, 26 Jan 2020 00:38:58 GMT

I think it’s time to water the garden for awhile and then maybe come back to it later. Best of luck!

Re: Too Many Accounts Too Soon

Anonymous — Sun, 26 Jan 2020 07:16:04 GMT

Garden

Re: Too Many Accounts Too Soon

Anonymous — Sun, 26 Jan 2020 20:46:03 GMT

what cards are you trying for? that makes a huge difference

Re: Too Many Accounts Too Soon

kdm31091 — Sun, 26 Jan 2020 22:57:00 GMT

IMO you are working backwards. You should always start by identifying a need for another card, and then working from there to find suitable products/lenders. You're starting with "who will approve me despite my red flag of too many new accounts?" and then working to find a product, which means you probably don't really need another card at the moment. Don't app just for the sake of it and exacerbate the too many new accounts issue.

I would simply garden for 6 months. Your options will open up a lot more.