Apply all at once or little by little?

[dsotm76]

Given that I'm looking at two cards right now, I'm curious about something.  Is it better to apply all at once or apply or one and then give it a little time before applying for another.  I've seen some people on here have went on app sprees and then some seem to do it over time.  

[expatCanuck]

I'll offer that, all other things being equal (and they never are), the more cards you apply for at once, the greater the possibility of something going wrong (score tanking, adverse action), and you're out the INQs.

Also, if you haven't been doing this for a while, you'll likely learn about the new card/product and have better insight into what else might better suit your needs.  (Even little things -- for example, I think that Citi has one of the most elegant and usable online portals going.  Chase, not so much, tho' I do like the CSP.)

Unless there's a countervailing upside (say, having a thin file and not wanting your AAoA to be dropped by a new account) or pressing need, my recommendation would be one at a time (says he who had his first 2 cards for a decade before applying for two more in rapid succession).

[Anonymous]

IMO, I prefer to apply all at once, but paying attention to which lenders pull which bureaus. However, I am still VERY young in my credit game, but I prefer to not have the new account hampering my AAoA when applying for another card. My last app spree was very successful with this method, but again, this is a highly debated method (and thus, why you're surely asking).

Also it is far easier to recon anything when the argument is merely inquiry based. For example:

1) Recon: "Why did you open a new account a month ago, and then another a month prior to that?"

     Me:"Well, err...I'm not desparate for credit. I just wanted rewards."

     Recon:"Well, we want to wait to see how you do with those accounts first before approving you."

2) Recon: "I don't see any recent accounts here, but why is there an inquiry from *name other bank* dated today?"

     Me:"I applied for a *category, say, dining* rewards card from *other bank*, but I wanted your card for the *name other category, eg, gas*, because the other bank really lacks what your card has."

With both situations, one might have opened 3+ cards, but the creditor only sees pulls from usually one bureau, so only one new account might have to be justified vs. justifying every new account from the last 6 months.

[BronzeTrader]

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@dsotm76 wrote:

Given that I'm looking at two cards right now, I'm curious about something.  Is it better to apply all at once or apply or one and then give it a little time before applying for another.  I've seen some people on here have went on app sprees and then some seem to do it over time.  

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This has been discussed often.  Most of the folks here like to appy several (or many) all at the same time.  Then return to their resting place (THE garden) to rest and nurture back the credit hits.  There is even a huge following here at the "Gardening" thread.

I'm one of the minority here.  I only apply/open the card I really need or want.  Then I cut loose the ones I'll probably do not use again.  I'll always be in a position that I can apply for the best new credit offering available.  

[Anonymous]

I'm one who prefers to apply for say 3 cards at one time, let them age 6 months, then apply for 3 more, or whatever number you prefer.

[dsotm76]

Thank you everyone for the thoughts.  I saw a few spree posts and wondered if that was the way to go.  I guess it's really a matter of personal preference.  I think I'll just try to get one now and then wait a while before trying for something else.  :-)