Max number of credit applications in one week?

[OroroMunroe]

Thank you for your reply! Wow! When did your score take the 100 points hit? Was it inquiries or when the new accounts were added to your report?

[SouthJamaica]

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@OroroMunroe wrote:

Hello! 

It's been a while since my last post. I've been lurking off an on. It's always wonderful to see everyone's progress. My credit journey has been interesting. I am now at the point where I am getting pretty good credit limits on approval. Now to my question, I did a quick search looking for answers about application sprees. I know this is subjective, but how many applications is too many in one week? I only found a thread about max AMEX applications in one day. What do you think? How many applications is too many in your opinion? 

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1. Welcome back.

2. There's no rule.

3. A good way to shut off the spigot of "pretty good limits" and approvals you've been getting, and to possibly even get account closures and/or credit limit decreases, is to go on an application spree.

So my advice is forget about it. 

[Drifter73]

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@OroroMunroe wrote:

Thank you for your reply! Wow! When did your score take the 100 points hit? Was it inquiries or when the new accounts were added to your report?

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70+ points on the intial HPs and 40+ points after accounts added. 

Each hp took more points than the previous. It was something like 5, 12, 21, 32.

Same with the adding of accounts points.

It generally takes up to 3 mo.s to recover from a hp, but I apped again the next month and then 2 months after that.

9/21 = 4 - 10/21 = 1 - 12/21 = 1 - Total = 6 in 3 months

So it took me longer to start recovering. 

Now that I have a usable foundation, I'm growing in 6 month intervals for each single app and being more refined in what card I choose so I can get the maximum benefits from my portfolio/file moving forward. 

[OroroMunroe]

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@Drifter73 wrote:

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@OroroMunroe wrote:

Thank you for your reply! Wow! When did your score take the 100 points hit? Was it inquiries or when the new accounts were added to your report?

---

70+ points on the intial HPs and 40+ points after accounts added. 

Each hp took more points than the previous. It was something like 5, 12, 21, 32.

Same with the adding of accounts points.

It generally takes up to 3 mo.s to recover from a hp, but I apped again the next month and then 2 months after that.

9/21 = 4 - 10/21 = 1 - 12/21 = 1 - Total = 6 in 3 months

So it took me longer to start recovering. 

Now that I have a usable foundation, I'm growing in 6 month intervals for each single app and being more refined in what card I choose so I can get the maximum benefits from my portfolio/file moving forward. 

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Thanks for sharing! I wonder if the number of points a score loses is also profile dependent? 

[OroroMunroe]

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@Anonymous wrote:

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@OroroMunroe wrote:

Hello! 

It's been a while since my last post. I've been lurking off an on. It's always wonderful to see everyone's progress. My credit journey has been interesting. I am now at the point where I am getting pretty good credit limits on approval. Now to my question, I did a quick search looking for answers about application sprees. I know this is subjective, but how many applications is too many in one week? I only found a thread about max AMEX applications in one day. What do you think? How many applications is too many in your opinion? 

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This is like answering how fast should I drive? I dunno. What is your vehicle? What shape is it in? Is the road in good shape? How many lanes? What are the weather conditions? Day or night? How much traffic? Pedestrians or no? Is the driver skilled and well rested? Would a crash be considered the worst possible outcome? etc etc etc

If you supply some more credit details maybe some can offer better advice? Otherwise I'd just say ten or so ought be fun and worthy of the spree label. But it might also be worthy of the pure foolishness label. I dunno. 

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Thanks for your reply! Fair enough. So, is the car my credit score and how fast I drive the number of applications? Would util be the weather conditions? Fun analogy! 

[OroroMunroe]

Thanks for your reply! Sound advice! I think I'm a bit risk averse these days. Most responses have been a bit sobering. Good to know the forum is still informative and fun! 

[Drifter73]

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@OroroMunroe wrote:

Thanks for sharing! I wonder if the number of points a score loses is also profile dependent? 

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Not sure, but its entirely logical that they would have multiple factors to weigh. Especially when determining if its due to financial distress, which could result in multiple credit lines being closed and limits reduced. Or, if it's simply a financial move for better positioning in the long run game.

If it makes any difference, this is my "no credit" restart after my file was washed clean from 60k in total debt with no bankruptcy after a 25 year stale mate.

I know some lenders have a long memory, but not sure how many go back to 15 to 25 years before everything fell off due to statutes.

I'm playing the no credit hand though, until I can verify a 25yr memory, then I'll shift and build around it. 

[CreditInspired]

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@SouthJamaica wrote:

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@OroroMunroe wrote:

Hello! 

It's been a while since my last post. I've been lurking off an on. It's always wonderful to see everyone's progress. My credit journey has been interesting. I am now at the point where I am getting pretty good credit limits on approval. Now to my question, I did a quick search looking for answers about application sprees. I know this is subjective, but how many applications is too many in one week? I only found a thread about max AMEX applications in one day. What do you think? How many applications is too many in your opinion? 

---

1. Welcome back.

2. There's no rule.

3. A good way to shut off the spigot of "pretty good limits" and approvals you've been getting, and to possibly even get account closures and/or credit limit decreases, is to go on an application spree.

So my advice is forget about it. 

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Ditto

Also, OP, if you're lucky and don't get declines, it's possible that with each new approval, the SL gets smaller and smaller.

I agree with SJ--don't do it!

[Anonymalous]

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@OroroMunroe wrote:

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@Drifter73 wrote:

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@OroroMunroe wrote:

Thank you for your reply! Wow! When did your score take the 100 points hit? Was it inquiries or when the new accounts were added to your report?

---

70+ points on the intial HPs and 40+ points after accounts added. 

Each hp took more points than the previous. It was something like 5, 12, 21, 32.

Same with the adding of accounts points.

It generally takes up to 3 mo.s to recover from a hp, but I apped again the next month and then 2 months after that.

9/21 = 4 - 10/21 = 1 - 12/21 = 1 - Total = 6 in 3 months

So it took me longer to start recovering. 

Now that I have a usable foundation, I'm growing in 6 month intervals for each single app and being more refined in what card I choose so I can get the maximum benefits from my portfolio/file moving forward. 

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Thanks for sharing! I wonder if the number of points a score loses is also profile dependent? 

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Very much so. People on young/thin scorecards lose a lot more from a hard pull than people with thick/aged profiles. When I applied for my second card (third counting an AU), my EX FICO 8 dropped more than 40 points from a new hard pull and a new card appearing on my credit report (lower AAoA).

[bigseegar]

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@SouthJamaica wrote:

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@OroroMunroe wrote:

Hello! 

It's been a while since my last post. I've been lurking off an on. It's always wonderful to see everyone's progress. My credit journey has been interesting. I am now at the point where I am getting pretty good credit limits on approval. Now to my question, I did a quick search looking for answers about application sprees. I know this is subjective, but how many applications is too many in one week? I only found a thread about max AMEX applications in one day. What do you think? How many applications is too many in your opinion? 

---

1. Welcome back.

2. There's no rule.

3. A good way to shut off the spigot of "pretty good limits" and approvals you've been getting, and to possibly even get account closures and/or credit limit decreases, is to go on an application spree.

So my advice is forget about it. 

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^^^THIS!^^^^