Multiple cards with one inquiry?

[Anonymous]

If i was to apply for two credit cards with same company such as American Express or Navy Federal, will it count as one hard inquiry since it is  from same company i'm pulling withing 60 second span?

Is it true to apply for multiple credit cards with only 1 or 2 hard pulls if credit is in good standing? Any advice is appreciated! Thanks

[M_Smart007]

NFCU only allows one card per 91 days. (and a maximum total of three cards per cardholder)

[Anonymous]

@Anonymous The answer is that it really depends on the issuer and YEMV (your experience may vary).

As the smart MyFicoer above posted an example of, some lenders only allow 1 approval within X amount of time. 

Some credit unions which require a hard pull to join *may* reuse a pull for a credit product, but they might not and you might get hit with dos (2) pulls.

I believe Amex only hp your first card with them, every card after is a soft pull.

Last thing, while its good to avoid unnecessary hard inquiries, they are nothing to be afraid of. They stay on your report for 2 years (24-25 months) and they become unscorable after 12 months. 

The real question is, what cards are you interested in? Are you trying to go on an app spree?

[Anonymous]

@M_Smart007 

Gotcha, thanks for reply appreciate it!

[Anonymous]

@Anonymous 

@Anonymous 

Thanks for response! Im interested in going on a app spree so i can balance transfer my old cards and increase my DTI utilization. I was interested in getting a PenFed card also since I read they give out good balances

[Anonymous]

@Anonymous To be clear, you are trying to do the following:

- find a card that you can use for a balance transfer.

- find another card (or several) to help pad your overall utilization.

Keep in mind your starting limit is going to be based on income, credit score and other factors.

I took a look at the PenFed Gold card. They are running the 12 month 0% on balance transfers which might be a great choice.

If you have military affiliation, you should look into NFCU's Platinum card. Same deal as PenFed but minus the 3% balance transfer fee. The catch is, your first credit limit might not be that large. 

I am going to defer to the opinions of other members however regarding the app spree (I don't know too much about them and don't want to steer you wrong).

If you can share some dps like Fico 8 scores, number of inquires, average age of accounts. 

[OmarGB9]

App sprees aren't really a good idea in the current economic climate. Too many lenders getting spooked easily and/or tightening up UW.

[SouthJamaica]

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@Anonymous wrote:

If i was to apply for two credit cards with same company such as American Express or Navy Federal, will it count as one hard inquiry since it is  from same company i'm pulling withing 60 second span?

Is it true to apply for multiple credit cards with only 1 or 2 hard pulls if credit is in good standing? Any advice is appreciated! Thanks

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1. You should not apply for two cards with the same company within a 60 second span.

2.  With Navy, if you already have a card and apply for a 2nd card,  you will likely get a 2nd hard pull no matter how much or how little time elapsed between applications.

3.  With Amex, once you have an Amex card, most additional applications are soft pull rather than hard pull.

[SouthJamaica]

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@Anonymous wrote:

@Anonymous 

@Anonymous 

Thanks for response! Im interested in going on a app spree so i can balance transfer my old cards and increase my DTI utilization. I was interested in getting a PenFed card also since I read they give out good balances

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1. Your plan is not realistic.

2. PenFed does not 'give out' good limits.

[coldfusion]

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@Anonymous wrote:

I believe Amex only hp your first card with them, every card after is a soft pull.

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No.  For each given subsequent app odds are it would be a SP but taking an additional hard pull does happen and it is not rare.