Credit Card Applications

[Anonymous]

So, I just read about a credit card spree? How often is that recommended and how many should you apply for before it hurst your score too much. I assume you choose which ones to apply for and submit all at the same time?

[Anonymous]

---

@Anonymous wrote:

So, I just read about a credit card spree? How often is that recommended and how many should you apply for before it hurst your score too much. I assume you choose which ones to apply for and submit all at the same time?

---

Common logic is only apply for credit cards that will be beneficial to you - don't apply just to be accepted or to increase your overall credit limit. With that said, applying for 2 or 3 cards within a short time (really any time amount less than a month) allows you to consolidate your inquiries so they all come off your credit report at the same time. 

So applying to multiple cards in a short time allows for easy streamlining of inquiries on your credit report, but applying for too many cards at once can lower your credit score by drastically reducing your average age of accounts and giving you lots of new accounts & inquiries. I'd recommend applying for no more than 3 credit cards per year in order to avoid big dips in your credit score.

[Anonymous]

I know many here will say not to apply for many and wait months in between applications, but in my case, I was only able to get secured credit cards so after about 7 months I just applied to prequalify credit sites and if they gave me the green light then I really applied for the cards. (this is the safe way to go) Also later said screw it and applied for regular cards that mostly got denied with no hit to my credit, this may be due to me having some appoved? My point is that I couldn't get credit anyway so being careful with my credit score was pointless to me so I just tried until somebody said yes without worry of my score.

[Anonymous]

thank you! I'm new on my path to rebuild my credit after a divorce and want to increase the overall health of my credit.

thanks again!

[UncleB]

---

@Anonymous wrote:

So, I just read about a credit card spree? How often is that recommended and how many should you apply for before it hurst your score too much. I assume you choose which ones to apply for and submit all at the same time?

---

Welcome to the forum!

When people apply for multiple credit products in a short span of time, many refer to that as a 'spree', also 'app-o-rama', or AOR for short.

It's not for everybody or every profile, but if planned out correctly and carried out methodically it can be a good way to get cards that are on your 'wish list'.  The benefit of applying for multiple products in a short time span is that each lender is unable to see the other accounts (since they aren't reporting yet) which in some cases improves your chances of approval.

For the wrong person or profile it can also be a recipe for disaster for numerous reasons, including excessive spending to meet spend requirements to get bonuses and in extreme cases even AA (adverse action) from existing lenders.

I consider it to be an 'advanced technique' and I would recommend anybody starting out (or starting with rebuilding) to read as much as possible before attempting their own 'spree'.   

Just my 2¢. 

[Loquat]

---

@UncleB wrote:

---

@Anonymous wrote:

So, I just read about a credit card spree? How often is that recommended and how many should you apply for before it hurst your score too much. I assume you choose which ones to apply for and submit all at the same time?

---

Welcome to the forum!

When people apply for multiple credit products in a short span of time, many refer to that as a 'spree', also 'app-o-rama', or AOR for short.

It's not for everybody or every profile, but if planned out correctly and carried out methodically it can be a good way to get cards that are on your 'wish list'.  The benefit of applying for multiple products in a short time span is that each lender is unable to see the other accounts (since they aren't reporting yet) which in some cases improves your chances of approval.

For the wrong person or profile it can also be a recipe for disaster for numerous reasons, including excessive spending to meet spend requirements to get bonuses and in extreme cases even AA (adverse action) from existing lenders.

I consider it to be an 'advanced technique' and I would recommend anybody starting out (or starting with rebuilding) to read as much as possible before attempting their own 'spree'.   

Just my 2¢. 

---

^ sound advice right there

[RonM21]

---

@UncleB wrote:

---

@Anonymous wrote:

So, I just read about a credit card spree? How often is that recommended and how many should you apply for before it hurst your score too much. I assume you choose which ones to apply for and submit all at the same time?

---

Welcome to the forum!

When people apply for multiple credit products in a short span of time, many refer to that as a 'spree', also 'app-o-rama', or AOR for short.

It's not for everybody or every profile, but if planned out correctly and carried out methodically it can be a good way to get cards that are on your 'wish list'.  The benefit of applying for multiple products in a short time span is that each lender is unable to see the other accounts (since they aren't reporting yet) which in some cases improves your chances of approval.

For the wrong person or profile it can also be a recipe for disaster for numerous reasons, including excessive spending to meet spend requirements to get bonuses and in extreme cases even AA (adverse action) from existing lenders.

I consider it to be an 'advanced technique' and I would recommend anybody starting out (or starting with rebuilding) to read as much as possible before attempting their own 'spree'.   

Just my 2¢. 

---

Very true. Read up on it a bit and figure out if it is right for you.

[Anonymous]

I would say just get 3 or 4 cards that you will use weekly. Grow them for a while and ask yourself if you really need any more.

Also... Don't judge my advice by my signature here haha

[Anonymous]

The biggest app spree I have been into is 5 apps . All approved. Credit score went down by 10 points. Recovered after 2 months. I would recommend not having any inq in last 6 months.before you do the app spree. 

[Anonymous]

---

@UncleB wrote:

---

@Anonymous wrote:

So, I just read about a credit card spree? How often is that recommended and how many should you apply for before it hurst your score too much. I assume you choose which ones to apply for and submit all at the same time?

---

Welcome to the forum!

When people apply for multiple credit products in a short span of time, many refer to that as a 'spree', also 'app-o-rama', or AOR for short.

It's not for everybody or every profile, but if planned out correctly and carried out methodically it can be a good way to get cards that are on your 'wish list'.  The benefit of applying for multiple products in a short time span is that each lender is unable to see the other accounts (since they aren't reporting yet) which in some cases improves your chances of approval.

For the wrong person or profile it can also be a recipe for disaster for numerous reasons, including excessive spending to meet spend requirements to get bonuses and in extreme cases even AA (adverse action) from existing lenders.

I consider it to be an 'advanced technique' and I would recommend anybody starting out (or starting with rebuilding) to read as much as possible before attempting their own 'spree'.   

Just my 2¢. 

---

Wonderful advice.