Hello! I'm new here, been reading over the fourm and I hope y'all could provide some advice / guidance.
As the title said, I'm looking at a few business cards. The CEO was orginally thinking we open three, I don't feel that would be needed, but more importantly, would applying for three cards at once hurt my credit score? I'm the Treasurer and would be the only one with authorization to use the cards, so we're using me on the application. Currently my score is at 819 FICO 8 from Experian. No credit pulls on it since 2016.
Amex Platinum Card
Chase Ink (most likely unlimited)
BoA Business Advantage (Traveler's most likely)
I was thinking of just going with signing up for the Amex Plat and Chase Ink, so we have at least one card we can have a revolving balance on if needed.
Should that keep my score from getting affected much? Hurt it a lot? Or would three be fine as well?
Thanks for any input!
I would suggest:
Applying for the Amex Platinum last of whichever set of cards you choose to apply for, unless you have an immediate need for one of the Platinum perks. With 819 Fico you would to need to have a missed payment start showing up on your credit report in order to get rejected any time soon for the Platinum, even with 2 new accounts and some inquiries.
Consider spacing out applications so that you can target spending on each for sign-up bonuses.
In terms of raw Fico score impact you should be absolutely fine but issuers are becoming more skittish so take nothing for granted.
I would suggest staggering cards for sign up bonus and to minimize even the very, very, very, very small chance of the group of applications tripping some issuer algorithm if you are to get all three.
If getting just the Chase and Amex, apply for the Chase first since all other factors held constant the Chase will be harder to be approved for.
By hard, might still be easy for your profile.