App Spree Plan (is 3 mon too soon?)

[Anonymous]

It's been 3.5 months now since my 1st App Spree (5 new cards $63k) with pretty heavy usage, but I just paid all my cards off (should be under 3% Utilization by end of next week) and I'm ready for another spree. Any thoughts? I can't do Amex or Discover (chargeoffs 2010), so this is what I'm thinking:

App Spree 2 Plan

DCU

Capital One Venture

Barclays

Citbank 2

BofA Travel Card (or Balance Transfer Card)

NFCU

USAA

HomeDepot

BestBuy

US Bank 2

Chase Slate CLI 

Any advice or feedback is greatly appreciated.  

[FinStar]

I would narrow it down and be more strategic about the CCs you're attempting to obtain, especially since you got approved for some CCs a few months back and others several months before your last set of applications. Spacing things out doesn't hurt anything either.

Keep in mind that a variety of lenders have tightened up some UW criteria so your results will definitely vary.

What is the end goal?

[Anonymous]

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@Anonymous wrote:

It's been 3.5 months now since my 1st App Spree (5 new cards $63k) with pretty heavy usage, but I just paid all my cards off (should be under 3% Utilization by end of next week) and I'm ready for another spree. Any thoughts? I can't do Amex or Discover (chargeoffs 2010), so this is what I'm thinking:

App Spree 2 Plan

DCU

Capital One Venture

Barclays

Citbank 2

BofA Travel Card (or Balance Transfer Card)

NFCU

USAA

HomeDepot

BestBuy

US Bank 2

Chase Slate CLI 

Any advice or feedback is greatly appreciated.  

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Are you applying with a specific purpose in mind based on your spend or anticipated spend, or just applying to accumulate?  And with 5 new cards 3 1/2 months ago, I would suggest waiting at minimum another 3-4 months, but 8 1/2 more months would be much better.  

[xaximus]

Quite the extensive list. What are your goals? Personally, unless you have specific uses for each card (Some of the cards are redundant - Venture/BoA Travel Card comes to mind, USAA/NFCU is another depending on what you're looking for). I would wait, with 5 cards relatively new, adding anymore may cause AA or possibly trigger reviews. Also, credit seeking behavior is a real thing as well. It's something to keep in mind.

As before - might be a good idea to wait atleast 3-6 months, if not longer. I think it's too early currently. Also, I'd review the cards you have and remove the redundancies.

[Anonymous]

I would say modify your list down a bit and go for a few more. 

In Jan I got 4 which are 6 mo old now. (PenFed, Disco It, Chase FU, & Sam's Club MC)

Then I Added BBVA Compass now 3 mo old.

Apped Amex in here somewhere and was denied for prior bad relationship from 2009

Then 2 more which are now 1 month old ( WF Propel, and USB Cash +)

Then a nice size car loan for a local CU which is still 0 months old and The Citi/Best Buy Platinum Visa less than a week old.

I have my eye on the Savor but the 3 hard pulls has kept me from pushing the button. I would also like a Paypal 2% but since I only have a business acct with them they won't let me apply. Not sure how to get around this yet.

I plan to keep going every few months until I get a few denial based on somthing other than prior bad relationship.

[SweetCreditObsession]

Am I correct in thinking you intend to apply for all of these in the shortterm? Why do you want that many additional cards at once? What are your datapoints?

[Anonymous]

If you're talking about adding a single card.. maybe.. yeah. If you're planning on another multi-card spree 3.5 months out I wouldn't do it. That's just me..

[Cred4All]

I concur with most of the replies already provided, wait it out another 6+ months.  Based on previously attained cards, the AAoA, and the fear that an 'App Spree Plan' of 11 additional inquiries/requests will definitely throw what you've already achieved down the drain in rapid fashion IF adverse action resulted from it.  The saying 'It's a marathon not...'  comes to mind here.  OP, I'd keep using the fleet you already acquired and hold off until the new year hits at a minimum - my opinion.  

[Anonymous]

Choose your cards carefully based on matching rewards with your spending, blind app sprees like this will mostly result in a bunch of useless SD cards while dragging down your scores. You have plenty to work with, give your profile the time to recover then app selectively.

[Anonymous]

At the risk of piling on, I'd like to echo the others: apply for cards that you really do want and expect to use, rather than just piling them on. That's why I've never made use of the SCT, for example (aside from possibly Overstock, but I actually got that card on a pre-approved offer), aside from the fact that most of the stores that "participate" in the SCT are categories of retailers that I rarely if ever shop at. There is also the salient fact that Comenity is a skittish lender notorious for abruptly closing down or inflicting other AA on customers if something alarms them (it often happens, in fact, to be a customer opening a Comenity co-branded major card, thus triggering a hard pull and actual review, after having obtained a large number of SCT cards that were handed out by the computer with nothing beyond a cursory digital review of whatever was in its programming).