topic What's the credit card company/bank definition of "recent"? in Rebuilding Your Credit

What's the credit card company/bank definition of "recent"?

40thieves — Thu, 17 Sep 2020 19:30:01 GMT

Discover prequalification came back with RECENTLY OPENED BANK REVOLVING TRADES as the reason they have no offers for me (which is certainly an improvement over the litany of reasons for "No, we don't think so" I have received in the past).

So what IS their definition of "recent"? SIx months? A year? Just need a rough idea so I can pace my rebuilding.

Re: What's the credit card company/bank definition of "recent"?

Anonymous — Thu, 17 Sep 2020 19:55:28 GMT

They don't say what it is, but generally those reasons all vary depending on your own profile.

6-12 months is a good waiting time to cool down new accounts/inquiries

You can try the pre-qual like every week though

Re: What's the credit card company/bank definition of "recent"?

blindambition — Thu, 17 Sep 2020 20:05:24 GMT

This is a subjective question, it will be based on individual profile and lender.

Spacing apps 6-12 months is a good rule to follow. Your chances are sometimes better the longer you wait. You're not credit seeking. The longer you wait may also increase your starting limit.

Re: What's the credit card company/bank definition of "recent"?

OmarGB9 — Fri, 18 Sep 2020 07:06:22 GMT

It's subjective. There's no one right answer. Some banks/CUs are 6 months, others 12 months, 2 years, etc.