topic Re: Applying for mutiple cards at once in Credit Card Applications

Applying for mutiple cards at once

followgreatness — Fri, 16 Apr 2021 14:55:13 GMT

Do banks know when you apply for another card within the same day?

I think I read about a story where someone got denied for a Chase card because theyhad applied for another card that morning and fell under the 5/24 rule. Apparently, Chase was able to see the other applicaiton even though it had yet to hit the credit bureaus. Do banks have this ability?

Re: Applying for mutiple cards at once

Brian_Earl_Spilner — Fri, 16 Apr 2021 15:49:40 GMT

A hard pull is instant so anyone can see if you applied elsewhere that day.

Re: Applying for mutiple cards at once

Anonymous — Fri, 16 Apr 2021 16:32:38 GMT

It depends on bureaus pulled if same bureau is hit twice they can see it if different bureau pulled they won't however some banks like comenity have pulled back a card if this is done

Re: Applying for mutiple cards at once

Anonymous — Fri, 16 Apr 2021 17:55:18 GMT

@followgreatness wrote:
Do banks know when you apply for another card within the same day?

I think I read about a story where someone got denied for a Chase card because theyhad applied for another card that morning and fell under the 5/24 rule. Apparently, Chase was able to see the other applicaiton even though it had yet to hit the credit bureaus. Do banks have this ability?

Yes they definetly know when they see that hard pull on your credit report even if the applications are minutes apart. What I have done is applied for two cards literally at the same time and hitting submit at the same time less than a second apart. Not sure if it work but I got approved. And it also depends on the CB they are pulling from. If you apply for a credit card and they pull from EX and then later that day you apply for a credit card that pulls TU or EQ then they will not see one another until the card hits your credit report when you're approved.

Re: Applying for mutiple cards at once

brk1971 — Fri, 16 Apr 2021 19:55:19 GMT

It's also important to keep in mind that it's not uncommon for banks to do both hard and soft pulls for an application. E.g. you apply to XYZ bank and they hit you with a HP on Transunion, and also do a SP on Experian, Equifax, Innovis, etc. You "see" (get alert) on the HP but not the SP.

Re: Applying for mutiple cards at once

Ficoproblems247 — Fri, 16 Apr 2021 21:44:57 GMT

@brk1971 wrote:
It's also important to keep in mind that it's not uncommon for banks to do both hard and soft pulls for an application. E.g. you apply to XYZ bank and they hit you with a HP on Transunion, and also do a SP on Experian, Equifax, Innovis, etc. You "see" (get alert) on the HP but not the SP.

Yes! A big +1 to this.

Re: Applying for mutiple cards at once

Remedios — Fri, 16 Apr 2021 21:53:22 GMT

@followgreatness wrote:
Do banks know when you apply for another card within the same day?

I think I read about a story where someone got denied for a Chase card because theyhad applied for another card that morning and fell under the 5/24 rule. Apparently, Chase was able to see the other applicaiton even though it had yet to hit the credit bureaus. Do banks have this ability?

Of course they do.

Denial isn't even the worst thing that can happen in this situation.

Worse case scenario is you actually get approved, but then if you overdid it, those accounts get shut down.

So now you have a closed account, scoring hit from HP and new account, and you cannot even take it for a ride.

Re: Applying for mutiple cards at once

Anonymous — Sun, 18 Apr 2021 01:25:56 GMT

Any SP CC you can recommend?

Re: Applying for mutiple cards at once

brk1971 — Sun, 18 Apr 2021 02:52:44 GMT

BB&T has a reliable tool. If you accept an offer there is no HP.
As always, YEMV.

Re: Applying for mutiple cards at once

ChargedUp — Sun, 18 Apr 2021 03:16:08 GMT

Don't forget that lenders can leave their mark on lesser known CRA's like Sagestream, Lexis Nexus, Innovis, etc. along with whatever major bureau(s) they decide to leave their mark on.

And lenders doing a HP, SP, SP on all three is a thing. This is why "app-spree's" beyond 2, max 3 cards at once isn't a great idea in my book, unless you're sporting Mahraja, Gmood or Coldfusion type credit files.

Re: Applying for mutiple cards at once

Anonymous — Sun, 18 Apr 2021 07:26:13 GMT

Thanks!

Re: Applying for mutiple cards at once

Anonymous — Sun, 18 Apr 2021 07:29:35 GMT

Thanks for the insight!

Does it make a difference if those CRA are frozen?

@ChargedUp wrote:
Don't forget that lenders can leave their mark on lesser known CRA's like Sagestream, Lexis Nexus, Innovis, etc. along with whatever major bureau(s) they decide to leave their mark on.

And lenders doing a HP, SP, SP on all three is a thing. This is why "app-spree's" beyond 2, max 3 cards at once isn't a great idea in my book, unless you're sporting Mahraja, Gmood or Coldfusion type credit files.

Re: Applying for mutiple cards at once

ChargedUp — Sun, 18 Apr 2021 07:43:44 GMT

@Anonymous wrote:
Thanks for the insight!

Does it make a difference if those CRA are frozen?

@ChargedUp wrote:
Don't forget that lenders can leave their mark on lesser known CRA's like Sagestream, Lexis Nexus, Innovis, etc. along with whatever major bureau(s) they decide to leave their mark on.

And lenders doing a HP, SP, SP on all three is a thing. This is why "app-spree's" beyond 2, max 3 cards at once isn't a great idea in my book, unless you're sporting Mahraja, Gmood or Coldfusion type credit files.

Depends on the lender. People seemed to have better odds when applying for USBank while having LN & Sagestream frozen, but I believe I've read on here that they've begun kicking back some apps where the above were frozen. I suppose if your credit file with the majors is thick, old and blemish free they may approve solely on the merits shown within, but others they'll want to see the minor CRA's as well.