topic Re: How many apps is too many? in Credit Card Applications

How many apps is too many?

Anonymous — Mon, 15 Mar 2021 16:51:52 GMT

So in the past couple of weeks, we've applied for and been approved for some fairly decent credit lines (10k, 20k, 15k). Two of those were from CU's that we recently got auto/RV loans from so they were able to approve using the same HP.

Just wondering how many apps in a short period becomes too many? I do know that our scores will take a dip once these all start reporting - however our util will go down to less than 5% so some of that may be offset.

Granted, we will most likely not use much of these CL's but it feels good to have them available in case of emergency.

At what point do you stop an app spree and let things settle for a bit?

Re: How many apps is too many?

dragontears — Mon, 15 Mar 2021 17:00:24 GMT

@Anonymous wrote:
So in the past couple of weeks, we've applied for and been approved for some fairly decent credit lines (10k, 20k, 15k). Two of those were from CU's that we recently got auto/RV loans from so they were able to approve using the same HP.

Just wondering how many apps in a short period becomes too many? I do know that our scores will take a dip once these all start reporting - however our util will go down to less than 5% so some of that may be offset.

Granted, we will most likely not use much of these CL's but it feels good to have them available in case of emergency.

At what point do you stop an app spree and let things settle for a bit?

Depends on the individual. Some wait to stop apping until they start getting low limits/denials. Others are more strategic and have a long term credit plan that includes "gardening" periods so that the risk of denials is diminished and only app for the planned accounts. And there are plenty of people in between the 2 extremes

Re: How many apps is too many?

Anonymous — Mon, 15 Mar 2021 17:52:58 GMT

@dragontears wrote:
@Anonymous wrote:
So in the past couple of weeks, we've applied for and been approved for some fairly decent credit lines (10k, 20k, 15k). Two of those were from CU's that we recently got auto/RV loans from so they were able to approve using the same HP.

Just wondering how many apps in a short period becomes too many? I do know that our scores will take a dip once these all start reporting - however our util will go down to less than 5% so some of that may be offset.

Granted, we will most likely not use much of these CL's but it feels good to have them available in case of emergency.

At what point do you stop an app spree and let things settle for a bit?
Depends on the individual. Some wait to stop apping until they start getting low limits/denials. Others are more strategic and have a long term credit plan that includes "gardening" periods so that the risk of denials is diminished and only app for the planned accounts. And there are plenty of people in between the 2 extremes

Thanks. Just tried using Discover's pre-qual and got this message so thinking time to hold off for anything more lol.

Thank you for your interest in Discover®. Unfortunately, at this time we are not able to provide you an offer due to the following:

THE NUMBER OF RECENT INQUIRIES

Re: How many apps is too many?

SecretAzure — Mon, 15 Mar 2021 19:32:33 GMT

@Anonymous wrote:
@dragontears wrote:
@Anonymous wrote:
So in the past couple of weeks, we've applied for and been approved for some fairly decent credit lines (10k, 20k, 15k). Two of those were from CU's that we recently got auto/RV loans from so they were able to approve using the same HP.

Just wondering how many apps in a short period becomes too many? I do know that our scores will take a dip once these all start reporting - however our util will go down to less than 5% so some of that may be offset.

Granted, we will most likely not use much of these CL's but it feels good to have them available in case of emergency.

At what point do you stop an app spree and let things settle for a bit?
Depends on the individual. Some wait to stop apping until they start getting low limits/denials. Others are more strategic and have a long term credit plan that includes "gardening" periods so that the risk of denials is diminished and only app for the planned accounts. And there are plenty of people in between the 2 extremes
Thanks. Just tried using Discover's pre-qual and got this message so thinking time to hold off for anything more lol.

Thank you for your interest in Discover®. Unfortunately, at this time we are not able to provide you an offer due to the following:
THE NUMBER OF RECENT INQUIRIES

Yup. Take that final line and reasoning as your sign that where you're at now is exactly the "too many" point for at least one prime lender (possibly others too).

Re: How many apps is too many?

coldfusion — Mon, 15 Mar 2021 20:38:48 GMT

@SecretAzure wrote:
@Anonymous wrote:
@dragontears wrote:
@Anonymous wrote:
So in the past couple of weeks, we've applied for and been approved for some fairly decent credit lines (10k, 20k, 15k). Two of those were from CU's that we recently got auto/RV loans from so they were able to approve using the same HP.

Just wondering how many apps in a short period becomes too many? I do know that our scores will take a dip once these all start reporting - however our util will go down to less than 5% so some of that may be offset.

Granted, we will most likely not use much of these CL's but it feels good to have them available in case of emergency.

At what point do you stop an app spree and let things settle for a bit?
Depends on the individual. Some wait to stop apping until they start getting low limits/denials. Others are more strategic and have a long term credit plan that includes "gardening" periods so that the risk of denials is diminished and only app for the planned accounts. And there are plenty of people in between the 2 extremes
Thanks. Just tried using Discover's pre-qual and got this message so thinking time to hold off for anything more lol.

Thank you for your interest in Discover®. Unfortunately, at this time we are not able to provide you an offer due to the following:
THE NUMBER OF RECENT INQUIRIES

Yup. Take that final line and reasoning as your sign that where you're at now is exactly the "too many" point for at least one prime lender (possibly others too).

Yep. This message tells you what you need to know, now figure out what if any other cards you want to acquire so you can create a roadmap of what to apply for and when to apply. As a simple example you'd want to garden for at least 12 months before applying for a USBank card.

Re: How many apps is too many?

Anonymous — Tue, 16 Mar 2021 00:04:39 GMT

When you start to get unfavorable terms like high aprs or low starting limits. Or flat out denials work. Once I get one denial, or awful terms, I begrudgingly garden.

Re: How many apps is too many?

Anonymous — Tue, 16 Mar 2021 04:37:16 GMT

How many is too many really depends on the individual. If you're talking someone with a clean/thick/aged file and 800+ scores, they can probably add 3-4 accounts all at once without having to worry about anything. Conversely, someone with a dirty/thin/young file and low 600's scores would not be able to achieve the same results on a 3-4 account spree.

Re: How many apps is too many?

Anonymous — Tue, 16 Mar 2021 23:19:21 GMT

@Anonymous wrote:
@dragontears wrote:
@Anonymous wrote:
So in the past couple of weeks, we've applied for and been approved for some fairly decent credit lines (10k, 20k, 15k). Two of those were from CU's that we recently got auto/RV loans from so they were able to approve using the same HP.

Just wondering how many apps in a short period becomes too many? I do know that our scores will take a dip once these all start reporting - however our util will go down to less than 5% so some of that may be offset.

Granted, we will most likely not use much of these CL's but it feels good to have them available in case of emergency.

At what point do you stop an app spree and let things settle for a bit?
Depends on the individual. Some wait to stop apping until they start getting low limits/denials. Others are more strategic and have a long term credit plan that includes "gardening" periods so that the risk of denials is diminished and only app for the planned accounts. And there are plenty of people in between the 2 extremes
Thanks. Just tried using Discover's pre-qual and got this message so thinking time to hold off for anything more lol.

Thank you for your interest in Discover®. Unfortunately, at this time we are not able to provide you an offer due to the following:
THE NUMBER OF RECENT INQUIRIES

Excellent way to double check what we are theorizing. I only just learned about pre qualification areas of lenders websites. That I can take a peek without a HP. 🤩 So helpful, isn't it? Otherwise, I tend towards aggressive brute strength and kick my own self in the CS for 12 months. 😩🙃

Re: How many apps is too many?

Anonymous — Tue, 16 Mar 2021 23:20:41 GMT

@coldfusion wrote:
@SecretAzure wrote:
@Anonymous wrote:
@dragontears wrote:
@Anonymous wrote:
So in the past couple of weeks, we've applied for and been approved for some fairly decent credit lines (10k, 20k, 15k). Two of those were from CU's that we recently got auto/RV loans from so they were able to approve using the same HP.

Just wondering how many apps in a short period becomes too many? I do know that our scores will take a dip once these all start reporting - however our util will go down to less than 5% so some of that may be offset.

Granted, we will most likely not use much of these CL's but it feels good to have them available in case of emergency.

At what point do you stop an app spree and let things settle for a bit?
Depends on the individual. Some wait to stop apping until they start getting low limits/denials. Others are more strategic and have a long term credit plan that includes "gardening" periods so that the risk of denials is diminished and only app for the planned accounts. And there are plenty of people in between the 2 extremes
Thanks. Just tried using Discover's pre-qual and got this message so thinking time to hold off for anything more lol.

Thank you for your interest in Discover®. Unfortunately, at this time we are not able to provide you an offer due to the following:
THE NUMBER OF RECENT INQUIRIES

Yup. Take that final line and reasoning as your sign that where you're at now is exactly the "too many" point for at least one prime lender (possibly others too).
Yep. This message tells you what you need to know, now figure out what if any other cards you want to acquire so you can create a roadmap of what to apply for and when to apply. As a simple example you'd want to garden for at least 12 months before applying for a USBank card.

Pardon, do you know if that includes the USBank Secured Card, please? 🙏🏻

Re: How many apps is too many?

Anonymous — Tue, 16 Mar 2021 23:30:51 GMT

@coldfusion wrote:
@SecretAzure wrote:
@Anonymous wrote:
@dragontears wrote:
@Anonymous wrote:
So in the past couple of weeks, we've applied for and been approved for some fairly decent credit lines (10k, 20k, 15k). Two of those were from CU's that we recently got auto/RV loans from so they were able to approve using the same HP.

Just wondering how many apps in a short period becomes too many? I do know that our scores will take a dip once these all start reporting - however our util will go down to less than 5% so some of that may be offset.

Granted, we will most likely not use much of these CL's but it feels good to have them available in case of emergency.

At what point do you stop an app spree and let things settle for a bit?
Depends on the individual. Some wait to stop apping until they start getting low limits/denials. Others are more strategic and have a long term credit plan that includes "gardening" periods so that the risk of denials is diminished and only app for the planned accounts. And there are plenty of people in between the 2 extremes
Thanks. Just tried using Discover's pre-qual and got this message so thinking time to hold off for anything more lol.

Thank you for your interest in Discover®. Unfortunately, at this time we are not able to provide you an offer due to the following:
THE NUMBER OF RECENT INQUIRIES

Yup. Take that final line and reasoning as your sign that where you're at now is exactly the "too many" point for at least one prime lender (possibly others too).
Yep. This message tells you what you need to know, now figure out what if any other cards you want to acquire so you can create a roadmap of what to apply for and when to apply. As a simple example you'd want to garden for at least 12 months before applying for a USBank card.

Not sure what possessed me to try, but I did a 2nd app for the standard US Bank Platinum Visa (was hoping they would just use the previous HP). Well, it appears they did a 2nd HP but did approve me for another $20k CL (on top of the $20K CL they gave me for the Cash+ card). No clue what the terms are though - it wasn't an immediate approval but it showing on my US Bank account now.

I think I'm done for a long time now lol. Don't want to think about how all these new accounts are going to change my credit profile lol (or what I'm going to do with them all!)

Re: How many apps is too many?

Remedios — Wed, 17 Mar 2021 00:21:53 GMT

Since OP has indicated an approval, this thread is closed for additional messages.