Best Method Applying for CC’s

[Anonymous]

Best Method Applying for CC's
 
Hi All. 
I applied for my 1st card back in Aug. 2017 and have received 3 additional cards since. My newest card is 6 months old making my AAoA 1yr, 2mo. I have only 1 INQ reporting on EX (relative to my newest account), and none for EQ and TU in the last 12 mo. I’ve been gardening since I received my newest card and intend to continue for some time to build history. However, while it’s on my mind I thought I’d ask before I forget: what is the best or at least a good method of applying for credit as needed over time? I’ve read somewhere about applying in 6 month intervals and to alternate hard inquiries among the 3 Bureaus by doing some homework before applying for a specific card, and to find out which Bureau, if not all of them, the CCC will pull from. Has anyone tried this method of applying or something similar? Is there a different method to use and what has been your experience? I’m trying to build history, but also strengthen my thin profile in the future with a couple more cards without severely affecting the history I build. I appreciate your time for reading and any feedback is welcome.
 

[sjt]

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@Anonymous wrote:

Best Method Applying for CC's

Hi All. 

I applied for my 1st card back in Aug. 2017 and have received 3 additional cards since. My newest card is 6 months old making my AAoA 1yr, 7mo. I have only 1 INQ reporting on EX (relative to my newest account), and none for EQ and TU in the last 12 mo. I’ve been gardening since I received my newest card and intend to continue for some time to build history. However, while it’s on my mind I thought I’d ask before I forget: what is the best or at least a good method of applying for credit as needed over time? I’ve read somewhere about applying in 6 month intervals and to alternate hard inquiries among the 3 Bureaus by doing some homework before applying for a specific card, and to find out which Bureau, if not all of them, the CCC will pull from. Has anyone tried this method of applying or something similar? Is there a different method to use and what has been your experience? I’m trying to build history, but also strengthen my thin profile in the future with a couple more cards without severely affecting the history I build. I appreciate your time for reading and any feedback is welcome.

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Congrats on your credit build!

I do think it helps to wait 6 months since the last card. Inqs. dont really matter if you dont have alot.

Honestly in your case, you should apply for a card that will give you the maximum benefits for your needs. Dont let the Inq effect what you are going to apply for.

[SecretAzure]

I'm of the opinion that you shouldn't apply for new credit. You have 2 great options for credit limit increase with Amex and Cap1. Just keep requesting credit limit increases. I think 6 months for Amex. Idk about Cap1. You will see yourself at 25K CL on the Amex in a year and a half or so if you hold onto fewer cards for a longer period of time. I would hold off until you hit at least 2.3 years...and even then only apply for 1 card. 

Just my two cents.

[Remedios]

The best time to apply for a new credit is when you actually need it vs. just trying to add more cards.
With young files like yours, longer you are without new apps, better the results when you actually do apply.

With that said, six months may be sufficient but a year would be optimal.

[Meanmchine]

Pick a card you like.  Research it.  Then app for it. 

If approved, go to the garden til Christmas

If denied, go to the garden til Thanksgiving

Good luck

[LittleSal]

I would garden until your AAoA is 2 years.  This will give you a Fico score boost and better SL on your new card.  

I try to wait until my AoYA is 1 year before apping for new cards.   This usually yields good results.  GL

[Anonymous]

Thank you! I was planning on waiting until my AoYA is 1yr, 6mo., if not a year before applying for a new card.

[Remedios]

For what it's worth, if you've done your research, I think you're good to go for one app.