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Quick question, how do you manage applications when you are applying for multiple cards. Do you apply all in the same day or do you wait a few months in-between each application? I imagine if you did all in the same day would your credit report update instantly? Probably not right?
Had a friend who mentioned he did all within 24 hours to prevent getting blocked for being "credit seeking". This would be for credit cards specifically.
Thanks...Sorry if this was listed/stickied somewhere but I don't see it readily apparent.
Generally people consider app sprees to be risky anymore. HPs show up basically instantly so other lenders will most likely see all the other inquiries.
There is no getting around the HPs as already mentioned. I also think it is important to know the creditors that you are applying for. Some are much more likely to take AA than others. Some are more inquiry sensitive and new account sensitive than others. If you want, list the creditors that you plan on applying for and how many cards do you see yourself applying for. I'm sure many people here can at least suggest an order in which to apply.
@pinkandgrey wrote:Generally people consider app sprees to be risky anymore. HPs show up basically instantly so other lenders will most likely see all the other inquiries.
+1
And, OP, some who have gotten approved find they can’t activate the card once they receive it because the CCC has already closed the card due to excessive credit seeking.
@Anonymous wrote:
So if I wanted to get 1 Chase, 1 Amex and 1 Cap One (hypothetically) should the order be :
Cap One
Chase 1 month later
AMX same day as Chase?
Chase first, then Cap one and then Amex. IME, Amex hasn't been new account or inquiry sensitive. You can bust them all the same day if you want to. 3 apps isn't what I'd consider over the top.
Here's a list of apps in order of priority for an AppSpree!!!! Those who know me, this spree is for DW not me. these r her scores.
EX: 724/1 inq 1 collection acct
EQ:706/1 inq (15 mos old); clean report
TU: 765/2 inq (18 mo old); clean report
Util: 24% overall
AAOA : 4 yrs
State: TX; Income $71k/yr
EX : Chase/Discover/Amex/SDFCU/Costco Visa/BBVA Compass/NASA
EQ: DCU/CSP/TDECU/Langley/Synovus/SunTrust
TU: Uber/US Bank/Walmart/SamsClubMc
<MOD EDIT: This cannot be discussed on myFICO forum>
Now to prioritize
App1: Chase CSP (already have freedom with only $500 CL issued 36+ months ago); Hopefully pull EQ/TU
App2: US Bank Platinum or Cash+ (on TU); or Uber (have to decide)
App3: Costco Visa (Hopefully pulls EQ/TU) instead of EX
App4: Discover (Hopefully pulls EQ instead of EX)
App5: DCU or TDECU (pulls EQ).
App6: Walmart (pulls TU)
I guess if Costco/Discover/Chase cannot access EX; there will be no hard inquiry & all is well.
US Bank & Walmart are only ones getting an approval or denial.
The only thing is DW has no credit limit exceeding $3k. I wonder what to make of it when apping for CSP?
Chase 0/500 CL
Shell 0/$500 CL
Cap1Qs $ 256/$2k CL
PPalMC $500/$2500 CL
OpenSky $0/$300 CL
MerrickBank $900/$1400CL
Kohls $0/$300 CL
SunTrust $6760 balance on auto loan 2 yrs remaining.
how's my order of apping for the cards? success or miserably failing?