topic Re: How many to app for at a time? in Credit Cards

How many to app for at a time?

Linear23 — Mon, 11 Nov 2013 01:03:14 GMT

Hi everyone)
Of course I'm going to the pros for some more advice!

I decided to app for cash back cards. Maybe a Home Depot card as well. How many is the limit to app for and in what time span?

I currently have:
Chase. $2400
Barclay $1900
Cap 1 $1500
Cap 1 $2000
Credit Union $2000.
Plus a few store cards. I have no balance on any cards except for the Best Buy card.1800/$4000

My score is from Barclay 737. I have a bankruptcy discharged in April 2005.

Thanks in advance!

Re: How many to app for at a time?

Themanwhocan — Mon, 11 Nov 2013 03:09:53 GMT

Having a zero balance on all cards except one, is good. Having 45% utilization on that one card, is bad. You'll want to pay that down first, and let it report.

When exactly did you apply for each of the cards you have? And exactly what cards do you plan to apply for?

Re: How many to app for at a time?

Anonymous — Mon, 11 Nov 2013 03:11:57 GMT

No firm rules, just "don't do too many too fast"! Assume every issuer will see earlier inquiries, and if there are a lot of inqs, where "lot" depends on your credit profile, it may raise red flags. The advantage of doing them in a short time frame is that all inqs will age of together, but balance that against creditors assuming you are in urgent need of credit for some bad reason.

If you have a target list of cards, people here can suggest the best order and time to wait. But, being a cynic, I'm not sure how accurate/useful those suggestions are.

Re: How many to app for at a time?

B335is — Mon, 11 Nov 2013 03:52:53 GMT

Don't app for multiple cards with the same provider. For instance, Citi only permits 1 app every week and 2 apps every 60 days. So if you app for Home Depot, keep that in mind. Lowe's may be a better option because GE tends to be generous with CLI's. Did you recently get a Barclay's card? If so, they probably won't approve you for another card for a year and try to control your upcoming spree.

Since your BK 8+ years ago, any other negs? I'd try to get in with Amex if your BK is over 8 years and get that Best Buy util down under 20% Discover IT is another decent cash back card. It's really hard to say not knowing all of your scores, AAoA, oldest TL, etc...

Re: How many to app for at a time?

Anonymous — Mon, 11 Nov 2013 04:26:26 GMT

One exception here is AMEX. They will allow you to app for more than one card at the same time. I app'ed for my TE and BCE cards on the same evening and was approved for both. And I second the opinion on GE for CLI.

Re: How many to app for at a time?

H4LO — Mon, 11 Nov 2013 04:36:43 GMT

@B335is wrote:
Don't app for multiple cards with the same provider. For instance, Citi only permits 1 app every week and 2 apps every 60 days. So if you app for Home Depot, keep that in mind. Lowe's may be a better option because GE tends to be generous with CLI's. Did you recently get a Barclay's card? If so, they probably won't approve you for another card for a year and try to control your upcoming spree.

Since your BK 8+ years ago, any other negs? I'd try to get in with Amex if your BK is over 8 years and get that Best Buy util down under 20% Discover IT is another decent cash back card. It's really hard to say not knowing all of your scores, AAoA, oldest TL, etc...

I don't know about that. I apped for two Chase cards in the span of 5 days. Approved both cards without any hassles. No having to call in etc.

Citi is a little more lienent. Which I like. Here is some info from a Citi thread at FT.

2. What are the most current time-restriction rules in applying for all Citi cards?

Only 1 Citi application of any kind per week (8 days to be safe).
No more than 2 Citi applications of any kind in 60 days (65 days to be safe).
No more than 1 Citi business application in 90 days (95 to be safe). This does not override the rules above.

While the day limits are a little flexible by a few days either way and YMMV, the rules themselves are not flexible. Note: In applying the rules above, count all Citi applications, including denials and/or applications for non-AA cards.

Re: How many to app for at a time?

Anonymous — Mon, 11 Nov 2013 06:21:38 GMT

@H4LO wrote:
@B335is wrote:
Don't app for multiple cards with the same provider. For instance, Citi only permits 1 app every week and 2 apps every 60 days. So if you app for Home Depot, keep that in mind.

Citi is a little more lienent. Which I like. Here is some info from a Citi thread at FT.

2. What are the most current time-restriction rules in applying for all Citi cards?
Only 1 Citi application of any kind per week (8 days to be safe).
No more than 2 Citi applications of any kind in 60 days (65 days to be safe).
No more than 1 Citi business application in 90 days (95 to be safe). This does not override the rules above.

While the day limits are a little flexible by a few days either way and YMMV, the rules themselves are not flexible. Note: In applying the rules above, count all Citi applications, including denials and/or applications for non-AA cards.

Do those rules apply to cards like Home Depot? I thought the "all" Citi cards here just meant Citi-branded cards, including clearly co-branded ones like Citi AA.

Re: How many to app for at a time?

B335is — Mon, 11 Nov 2013 07:27:29 GMT

@H4LO wrote:
@B335is wrote:
Don't app for multiple cards with the same provider. For instance, Citi only permits 1 app every week and 2 apps every 60 days. So if you app for Home Depot, keep that in mind. Lowe's may be a better option because GE tends to be generous with CLI's. Did you recently get a Barclay's card? If so, they probably won't approve you for another card for a year and try to control your upcoming spree.

Since your BK 8+ years ago, any other negs? I'd try to get in with Amex if your BK is over 8 years and get that Best Buy util down under 20% Discover IT is another decent cash back card. It's really hard to say not knowing all of your scores, AAoA, oldest TL, etc...
I don't know about that. I apped for two Chase cards in the span of 5 days. Approved both cards without any hassles. No having to call in etc.
Citi is a little more lienent. Which I like. Here is some info from a Citi thread at FT.

2. What are the most current time-restriction rules in applying for all Citi cards?
Only 1 Citi application of any kind per week (8 days to be safe).
No more than 2 Citi applications of any kind in 60 days (65 days to be safe).
No more than 1 Citi business application in 90 days (95 to be safe). This does not override the rules above.

While the day limits are a little flexible by a few days either way and YMMV, the rules themselves are not flexible. Note: In applying the rules above, count all Citi applications, including denials and/or applications for non-AA cards.

Since OP mentioned Home Depot, that is why I gave that info (which you confirm) on Citi in my post. I didn't comment on Chase since there are known rules on multiple apps - works for some, doesn't for others - YMMV.

@Anonymous wrote:
Do those rules apply to cards like Home Depot? I thought the "all" Citi cards here just meant Citi-branded cards, including clearly co-branded ones like Citi AA.

I know the rules also apply to HHonors cards. I haven't personally tried it with Home Depot or Best Buy so can't really comment, but I'd guess the rules all apply since the applications route through Citi.

Re: How many to app for at a time?

Anonymous — Mon, 11 Nov 2013 07:34:43 GMT

HHonors are listed on https://www.citi.com/credit-cards/compare-credit-cards/detail.do?ID=view-all-credit-cards, so I counted those as "real" Citicards, but maybe that isn't an important difference.

Re: How many to app for at a time?

Linear23 — Mon, 11 Nov 2013 07:45:56 GMT

All of my cards are 3+ years old except for Best Buy. That one is brand new. I just closed on a home 3 weeks ago so I was very careful to keep inquiries off my report until after closing.

I forgot I also have a discover card with $1000 line. Also $0 balance.

I plan on eventually closing the cap 1 cards to get some cards with a higher limit that will benefit me. All the cap 1 cards are to me is plastic.

I hesitate to app for Amex because they were included in my bankruptcy and I'm sure I'm on some list of theirs.

Re: How many to app for at a time?

Linear23 — Mon, 11 Nov 2013 07:46:59 GMT

I have no baddies on my report except for the bankruptcy discharged in April 2005.

Re: How many to app for at a time?

Anonymous — Mon, 11 Nov 2013 15:33:49 GMT

I have read if you are blacklisted with annex it is instant denial, no pull, so wouldn't hurt to try.

Re: How many to app for at a time?

Linear23 — Mon, 11 Nov 2013 16:47:22 GMT

What Amex do you suggest? I don't pay in full every month and my income is around $70k per year.

Re: How many to app for at a time?

Linear23 — Mon, 11 Nov 2013 18:52:57 GMT

I got up the nerve to app for amex blue everyday and just as they were processing it came back with their system is down and I will get a response in 14 days through mail.

Is there a special number I should call?

Re: How many to app for at a time?

Linear23 — Mon, 11 Nov 2013 19:20:47 GMT

I called the back door number listed on the boards here and they said I was declined and there was no changing it!

What other cards give decent cash back for everyday use like gas and groceries?

I hate being declined!

Re: How many to app for at a time?

Anonymous — Mon, 11 Nov 2013 20:59:59 GMT

Expect a chorus of "Sallie Mae" which is a very good card if you spend less than $250 a month on (each of) gas and groceries.

Re: How many to app for at a time?

Linear23 — Mon, 11 Nov 2013 21:50:39 GMT

I definitely spend more than that. I have 20 month old twins!

Re: How many to app for at a time?

Anonymous — Mon, 11 Nov 2013 21:56:05 GMT

@Linear23 wrote:
I definitely spend more than that. I have 20 month old twins!

Well, so do I (spend more than that, don't seem to have 20 month twins!). But it is still good for the first $250 a month. Might be difficult to coordinate with other cards, which tend to have quarterly or yearly caps.

But consider the SM card. Also Huntingdon Voice, you can select groceries, for 3% for up to $2000 per quarter

Re: How many to app for at a time?

cjc343 — Mon, 11 Nov 2013 21:57:50 GMT

5% back on the first $250 spend per month could still make it worth it to put your first $250/mo on it. My understanding is categories are separate, so you could get $25/mo maxing gas & grocery spending before switching to a different card for the remainder of the month.

Re: How many to app for at a time?

Themanwhocan — Mon, 11 Nov 2013 22:40:55 GMT

@cjc343 wrote:
5% back on the first $250 spend per month could still make it worth it to put your first $250/mo on it. My understanding is categories are separate, so you could get $25/mo maxing gas & grocery spending before switching to a different card for the remainder of the month.

The original poster has Twins. Presumably they may also have a Spouse, therefore they could each get a Sallie Mae World Mastercard, and one could become a authorized user for the others card.

So, is there anything better than the Sallie Mae? Yes, two Sallie Mae's...

PS: Sorry you couldn't get the Amex, the BCP would have worked well for your situation.