I just apped for, and was approved, for 5 new personal cards (Apple,Navy,PenFed,BBt, and Discover). Is six new cards too many? I only do hard pulls once a year and was looking for my second EQ pull. Also, could I cancel one of my brand new cards (Discover has a low limit,5K) and go for another large limit before it reports as new? Thank you
@cmro81, Congrats on your approvals.
As many have suggested, I would definitely cool off for a good while in this credit environment.
Thank you all for your thoughts. I assumed people with few cards would not have an aggressive approach.I would love to hear from more people with more than 30-40 cards and high income.
There are several members here with 30+ cards , I was one of them but have trimmed the fat some . Also higher income doesn't necessarily mean more cards, I am certainly not a high earner by any means .
Most of us with multiple cards have acquired them over several years and most were not very aggressive in building our profile , took time got cards that meet their needs and they could use .
Thank you all for your thoughts. I assumed people with few cards would not have an aggressive approach.I would love to hear from people with more than 30-40 cards and high income.
"I would love to hear from people with more than 30-40 cards and high income."
Thicker aged profile's can handle App spree's a little better than young thin profiles.
(I am not judging you, and have no idea of your profile)
Even having a thick aged profile with higher income, with this credit landscape due to Corona V.
I have pulled way back and I am actually gardening. Lenders are very skittish right now,
and it probably would not take much to bring on Adverse Action. ...ALL JMHO
@Jnbmom Thank you for your thoughts. But I have around 30 cards and I did it in 7 years. I have never apped for less than three at one time. 5 is typical.I only hard pull once a year. I am interested in hearing now from people who are aggressive and with as many cards as I have.
If 5 apps at a time is typical for you, then I think the answer remains that you shouldn't app for the 6th
but of course, if you want to, then go ahead
and if the Discover won't work for you at $5k, then close it
we did all reply with the best intentions without asking what your current list is
so bad on me for not asking that first
with 30+ cards, I think you already have this figured out, so you should do what you feel is best for the current climate without worries
@RSXThank you. I am still learning and this board teaches me everytime I get on here. I am concerned about AA. It only happened to me once. Two years ago from BOA. (they said I reallocated too much...)
Years ago, I got 6 Synchrony store cards in 2 days.
Times have changed.