Credit App questions

[FICOlearner123]

Hello Experts,

1. If you have good credit 750 + and got denied on a card for too many credit lines, how long do you wait (be in garden) before applying and have a good chance for approval?

2. What is a good time for App Spree? Any dos and donts?

3. What are some do's and dont'e regards to credit limit increase request?

[dragontears]

1. Profile dependent 6 months to a year is generally recommended but sometimes waiting longer is needed. 

2. Depends on who you ask. Personally, I think in today's lending environment app sprees are a bad idea 

3. For CLI keep your expectations realistic, keep your profile in good shape and research the specific lender's policies 

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@FICOlearner123 wrote:

Hello Experts,

1. It you have good credit 750 + and got denied on a card for too many credit lines, how long do you wait (be in garden) before applying and have a good chance for approval?

2. What is a good time for App Spree? Any dos and donts?

3. What are some do's and dont'e regards to credit limit increase request?

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[FinStar]

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@FICOlearner123 wrote:

Hello Experts,

1. If you have good credit 750 + and got denied on a card for too many credit lines, how long do you wait (be in garden) before applying and have a good chance for approval?

2. What is a good time for App Spree? Any dos and donts?

3. What are some do's and dont'e regards to credit limit increase request?

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To add, keep in mind that a credit score is one of many factors that are considered during the evaluation of your overall profile.  Plus, UW criteria varies by lender.

App sprees can be somewhat successful, but a lot depends on your profile, the strategy, the targeted lenders, spacing, the number of CCs, plus any potential risks associated with said spree, so most folks limit them to a few CCs.  The landscape changes often so today's sprees are not what they used to be.

For CLIs, you'd need to be more specific.  Each lender has their own UW criteria.