topic Re: Applying for Amex BCE and Chase Freedom, should app at same time or can I wait? in Credit Cards

Applying for Amex BCE and Chase Freedom, should app at same time or can I wait?

Anonymous — Tue, 06 Oct 2015 19:38:56 GMT

Got a bonus offer from Amex BCE 250 bonus after spending 1k in 3 months (easily done) ...but rumor has it chase freedom will be rolling out the 200 bonus next month. I really want both cards but I was wondering what will have less of a hit on my score. Apping for Amex now and wait for chase bonus (if it even does come) and app for freedom then...or wait until next month for both and pull the trigger at the same time

Thanks! Happy Tuesday!

Re: Applying for Amex BCE and Chase Freedom, should app at same time or can I wait?

mitchblue — Tue, 06 Oct 2015 19:41:48 GMT

@Anonymous wrote:
Got a bonus offer from Amex BCE 250 bonus after spending 1k in 3 months (easily done) ...but rumor has it chase freedom will be rolling out the 200 bonus next month. I really want both cards but I was wondering what will have less of a hit on my score. Apping for Amex now and wait for chase bonus (if it even does come) and app for freedom then...or wait until next month for both and pull the trigger at the same time

Thanks! Happy Tuesday!

Doesn't the inquiry appear right away? Not sure it would hurt by waiting unless another TL hurts.

Re: Applying for Amex BCE and Chase Freedom, should app at same time or can I wait?

Anonymous — Tue, 06 Oct 2015 19:55:41 GMT

The applications will have the same impact whether you apply now or wait later. Just up to you and what is in your credit profile at the time of application.

Re: Applying for Amex BCE and Chase Freedom, should app at same time or can I wait?

Anonymous — Tue, 06 Oct 2015 22:40:10 GMT

Just realized I was a bit unclear. What I meant to say should I apply for one card now ...the other in about a month or so. OR Just apply for both at the same time. Which will affect my credit less.

Re: Applying for Amex BCE and Chase Freedom, should app at same time or can I wait?

mitchblue — Tue, 06 Oct 2015 23:26:58 GMT

@Anonymous wrote:
Just realized I was a bit unclear. What I meant to say should I apply for one card now ...the other in about a month or so. OR Just apply for both at the same time. Which will affect my credit less.

Yeah we understood. It shouldn't matter unless something else happens in a months time.

Re: Applying for Amex BCE and Chase Freedom, should app at same time or can I wait?

Anonymous — Tue, 06 Oct 2015 23:27:46 GMT

If you apply for one card now and wait for the other, then the two inquiries will be offset and thus will age off your credit report at different times. So your choice is really do you want to slightly stagger the decreases so that you have a smaller decrease over a longer period of time, or a larger decrease over a shorter period of time.

Honestly if you're only going to wait a month or two the staggering barely matters, but if you do app a month apart then it increases the chance that the second card will see the new account from the first card. This will mean the second app might have a harder time getting approved because they'll see the ding to your AAOA.

Re: Applying for Amex BCE and Chase Freedom, should app at same time or can I wait?

Anonymous — Wed, 07 Oct 2015 00:41:50 GMT

How many new cards have you added over the past 24 months? If the Amex app would put you over 5 during that period, you should wait until next month for both. If it wouldn't put you over 5, you might as well grab the Amex now. If you're already over 5, you'll likely get denied for the Freedom anyway, so if that's the case you might as well grab the Amex now.