How long to wait after app spree before more apps?

[ficojoe]

I applied for about 20 credit cards and was approved for four of them so far (Capitol One Secured, Wal-mart store card, Amazon Store Card, and Kay Jewlers), waiting on the out come of some still.

I also recently opened some credit union accounts including NFCU. I would like to obtain a credit card from one or more credit unions next. How long should I wait for my new accounts to age and my inquiries to become less adverse before I apply? I understand they drop off in 2 years, but is there a sooner time that NFCU wouldn't care about them? 

How does the FICO score rebound from inquiries? 

[iMacDrew]

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@ficojoe wrote:

I applied for about 20 credit cards and was approved for four of them so far (Capitol One Secured, Wal-mart store card, Amazon Store Card, and Kay Jewlers), waiting on the out come of some still.

I also recently opened some credit union accounts including NFCU. I would like to obtain a credit card from one or more credit unions next. How long should I wait for my new accounts to age and my inquiries to become less adverse before I apply? I understand they drop off in 2 years, but is there a sooner time that NFCU wouldn't care about them? 

How does the FICO score rebound from inquiries? 

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you should wait 6-12 months. especially if you get approved on the ones still pending, those HPs are going to affect anything sooner than 6 months.

[DaveSignal]

Try for the NFCU right away.  You should wait 1 year for the apps to stop effecting your score, however.

[mmduluth]

Woah 20?! Sounds like you need to take a very long break and let those inquiries fall off.

[Repo-ed]

Did he just type "20" apps?

[Repo-ed]

Having re-read your OP, you need to not app again for 1-2 years. 

[iMacDrew]

well if most of those apps are Denied wouldnt they just be soft pulls and not affect his score?

[visorboy1974]

2 years.

[ficojoe]

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@DaveSignal wrote:

Try for the NFCU right away.  You should wait 1 year for the apps to stop effecting your score, however.

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That might make sense, what is the difference between 20 and 21 apps, right?

[Repo-ed]

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@iMacDrew wrote:

well if most of those apps are Denied wouldnt they just be soft pulls and not affect his score?

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No sir. Every single one of them will result in a HP.  His already non-existant AAoA will cause his scores to dive with every approval or subsequent denial.

I think you are getting SP w/ denial, confused with those of us with Amex cards.  When we apply for other amex products, and are declined, it's only an SP.

All 20 of his apps will result in HPs.