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How many? How often?

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Tiberius800
New Contributor

How many? How often?

How many cards can I apply for at the same time and how often should I apply so It doesn't appear that I am credit seeking?

6 REPLIES 6
dragontears
Senior Contributor

Re: How many? How often?


@Tiberius800 wrote:

How many cards can I apply for at the same time and how often should I apply so It doesn't appear that I am credit seeking?


If you want to not appear "credit seeking" the answer is 1 and a long time till the next one.

Can you app for more? Of course, approvals will depend upon your current profile 

Should you app for more? I have no knowledge of your short/long-term credit goals so can not offer an opinion 

Message 2 of 7
AllZero
Mega Contributor

Re: How many? How often?


@Tiberius800 wrote:

How many cards can I apply for at the same time and how often should I apply so It doesn't appear that I am credit seeking?


If you don't want the appearance of credit seeking, the answer would zero. 😃

 

I guess it all depends on the strength of your credit profile and prospective lender.

 

One could consider one application per bureau e.g. EX, TU, EQ.

 

Which lender and card are you interested in?

Message 3 of 7
Anonymous
Not applicable

Re: How many? How often?

Following...

 

I'd also mention, it depends on where you are, some of your data points which you might want to add for fuller assistance...

 

How many cards do you already have? 3-5 revolvers is often recommended. Later, more when in the Prime arena. 

What's your Total CL already? I can't remember which credit site, maybe WalletHub which is, I think TU, told me last Fall 2020, my Total CL was too low. I should get it to $5K. Yours might be different based on your income. 🙏🏻

I also at that time got a feedback that then my Credit Profile was what we would term Too Thin in that I had only 4 CL's. 5 was minimum best. More Thickens and is generally better. Which is not to say you hit 10 accounts in 1 month... 😆😁

 

Once you cite a bit more about your specifics, perhaps you'll be able to get more targeted assistance. 🙏🏻🙏🏻🙏🏻

 

Message 4 of 7
Anonymous
Not applicable

Re: How many? How often?

It all depends on profile strength.

 

Cornelius may apply for and get approved for 5 credit cards on the same day, having done the same thing a year ago.  He's got a clean/thick/aged file and scores all in the 800s, so his profile strength is very strong and can absorb these sprees easily without causing much concern.

 

Rupert may apply for 2 credit cards, get approved for the first and denied for the second in part due to recent credit-seeking.  He's got a dirty/thin/young file and scores all in the 600s, so his profile strength is weak and minor risk-adding events such as in inquiry are magnified greatly.

Message 5 of 7
JakeRogue
Valued Member

Re: How many? How often?

I wouldn't try for more than 1-2 credit applications every 6 months. That's my personal maximum. I did that a few times in the last 6 years on my journey to where I am now (10 cards with a score 800~)



FICO 8 October 2022 - EQ: 783 EX: 743 TU: 756
Message 6 of 7
Tiberius800
New Contributor

Re: How many? How often?

I have a captial one card $1000 limit

Amex simply cash $10,000 limit

Amex Bsuiness edge $3,000 limit

15% utilization, will be down to 5% this next update.

715 credit score.

 

Is that more helpful info?

Message 7 of 7
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