Spread out applications or do all at once?

[Anonymous]

I used to have the same dilemma.

But it really is up to the credit card companies and how thick your credit profiles are.

If you are new to the following banks:

Citi

Barclay

USBank

Then you had better clean up the profiles before you app. (Wait a few months before last app and have 0 balance for every acct for the month you app)

But in short, I will just app whenever I want. Life is too short, ain't no body have time for that. right?

[SecretAzure]

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@Anonymous wrote:

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@Anonymous wrote:
All at once, because none of the new cards will report and affect subsequent apps.
Best strat is app spree, garden 6 months, and repeat.

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and another thing you can do , (but barely mentioned) is to spread your apps/HP CLI's  acrross credit agencies so 
you only get 1 HP per CA.  I did this:

Amex : EX new app

Barclays SM : TU new app

PenFed: EQ new app 

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What this person said! Great advice! I did it in such a way that my 2 credit cards would hit 2 different  agencies and then my auto loan hit the other. So it looks like 1/1/1.

[Anonymous]

For most people an app o rama must be carefully planned. Know what your credit profile will handle and definitely STOP when your denials outweigh your approvals or you start getting crap limits, crap terms.

My own experience was different than most with 17 new tradelines in 8 months. Why?

For one, I hadn't really applied for much in the last 5 years prior. Because I had several derogs keeping my scores in the basement 600's.

Keep in mind, I had an AMEX from back in the day that never got closed down even when my scores tanked. The payments were being made and they were only too happy to keep accepting them just as I was only too happy to keep making them.

I started off with two new AMEX cards (PRG and ED) to preserve my AAoA for the following round of applications. The original plan was to keep a steady stream of applications going as the results came in (Scores going up or coming down), My result was that the new accounts were drowning out the ancient derogs and my scores only went up with each new approval. A combination of instant approvals and reconsiderations is what got me the signature you see today. I didn't hit a denial wall (5 no HP declines and 2 HP declines) until just this month. Each approval seemed to have better terms and higher limits. Your experience may not be the same.