topic Re: How often to apply? in Credit Cards

How often to apply?

NTCCole — Sun, 17 Mar 2019 03:38:49 GMT

I am coming up on my 2nd year in the credit game and wanted to know. How often should I wait between approvals to apply for another card I want?

Re: How often to apply?

Brian_Earl_Spilner — Sun, 17 Mar 2019 04:24:37 GMT

If you go by Chase's 5/24 rule, once every 6 months.

Re: How often to apply?

NTCCole — Sun, 17 Mar 2019 05:45:36 GMT

Thanks for the info. I have other accounts with Chase but, im staying away from the credit cards for now. I'm aware of that 5/24 rule.

Re: How often to apply?

NRB525 — Sun, 17 Mar 2019 10:57:48 GMT

Generally apps should be few and far between.

The more important question is, which cards do you have, and which cards are on your list to apply for eventually? The goal cards are those that you think might provide the cash back or rewards / benefits you can use long term.

Re: How often to apply?

firefox100 — Wed, 10 Apr 2019 13:23:23 GMT

I would first try to get your cl increase on some of your cards before I would get any more cards. What is your Fico scores, make sure that when you do increase that it is soft pull.

Re: How often to apply?

Lucifer — Wed, 10 Apr 2019 14:49:15 GMT

App Spreeeeeeeeeeeeee.....

Let's go !

Ok how about an Amex charge card(or maybe a BCE?), a citi rewards card like dbl cash, cap 1 QS ---- ooh maybe a nice low interest CU card.

Oh the fun we'll have :-)

Re: How often to apply?

Brian_Earl_Spilner — Wed, 10 Apr 2019 16:09:21 GMT

@NTCCole wrote:
Thanks for the info. I have other accounts with Chase but, im staying away from the credit cards for now. I'm aware of that 5/24 rule.

My point was a lender like Chase expects the average person to not apply for credit more than once every 6 months, hence their rule. It's not just them. Us bank and Barclay also expect 6 mos between apps, and they're not the only ones.

Re: How often to apply?

Remedios — Wed, 10 Apr 2019 16:43:01 GMT

@NTCCole wrote:
I am coming up on my 2nd year in the credit game and wanted to know. How often should I wait between approvals to apply for another card I want?

Apply when you have the actual need for additional credit. Usually longer periods between apps yield better outcomes, but it all really boils down to individual profile.

Re: How often to apply?

Five6Two — Wed, 10 Apr 2019 16:49:52 GMT

@Remedios wrote:
@NTCCole wrote:
I am coming up on my 2nd year in the credit game and wanted to know. How often should I wait between approvals to apply for another card I want?
Apply when you have the actual need for additional credit. Usually longer periods between apps yield better outcomes, but it all really boils down to individual profile.

+1, I wish I had spread out my last two apps over 6 months, but my profile supported the SUB now versus the future. Do what you want, but be advised the feedback here is to help support you have a stronger profile.