How long to wait between getting approved for new cards?

[Insoc]

I want to know what the recommended wait time is before accepting new offers for credit cards and/or applying for them.  I know hard pulls and too many are bad, so how long should you wait, 6 months or a year?  I was just approved for my first CC 14 months post BK discharge and want to rebuild fast but also do not want to go overboard or have to many inquiries.

[myjourney]

Depends on what card you have now and when did you get it?

Do you have any other types of credit... car, mortgage, loans?

Is the card even reporting yet?

HP's in the last year?

Fico scores (3)

UTL? 

AAoA?

And building fast is not going to happen so think long term goals...where you want to be in a year maybe 2.

Also I'm having your thread moved to CC for better exposure.

[Anomalous]

I've read between 6 months to a year. That gives one time to establish some history with new accounts and let inquiries age. 

[xosamandaxo]

I got my first secured CC 8 months ago. I just applied and was approved for a second secured CC. have not received card yet so no changes on my report. I think you are safe at 14 months.

[Mayn]

i personally applied for 3 secured cc really close to eachother, like within a week.  My first progress is already here and pd yearly fee already.  My cap 1 and U.S. bank secured are in route.  Should see them next week sometime.

[lg8302ch]

For me I like to add a new card every 6 months

[Anonymous]

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@xosamandaxo wrote:

I got my first secured CC 8 months ago. I just applied and was approved for a second secured CC. have not received card yet so no changes on my report. I think you are safe at 14 months.

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After 6 months of paying on a secured card you could have gotten approved for a regular non-secured card depending on your scores. 

[takeshi74]

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@Insoc wrote:

I want to know what the recommended wait time is before accepting new offers for credit cards and/or applying for them.

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There's no fixed timeframe.  Some can app immediately.  Some should probably wait.  It really depends on the individual's credit profile.

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@Insoc wrote:

I was just approved for my first CC 14 months post BK discharge and want to rebuild fast but also do not want to go overboard or have to many inquiries.

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It helps to know that you're rebuilding from a BK.  Creditors will probably be more inquiry sensitive for you -- that is assuming that they will approve with a recent BK reporting.  Some creditors won't touch you as long as that BK is reporting so it doesn't matter how long you wait for them.  Some may approve you as the BK ages so the wait really depends on when the impact of the BK tapers off for that specific creditor.

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@Insoc wrote:

I know hard pulls and too many are bad

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It's not just the hard pulls.  The hit to AAoA from opening a new account also matters.

[Insoc]

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@myjourney wrote:

Depends on what card you have now and when did you get it?

Do you have any other types of credit... car, mortgage, loans?

Is the card even reporting yet?

HP's in the last year?

Fico scores (3)

UTL? 

AAoA?

And building fast is not going to happen so think long term goals...where you want to be in a year maybe 2.

Also I'm having your thread moved to CC for better exposure.

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I just got a Merrick Bank Visa CC, $700 CL and if I follow the plan will double to $1400 in 7 months, (so they stated).

I just checked and it's reporting with no balance, but I just got in a couple of days ago.

No other credit cards.

1 car financed pre-BK filing, never late, around 3 and 1/2 years left of payments, $15K payoff with 9.99% APR, which is not great but not ultra insane 20%+.  In hindsight I should have bought the car sooner, but I had a unpredicted job loss and held off, went late on a couple cards and credit got hit.  

I also had a leased car in the family, which went back recently, never late and paid as agreed.  So in terms of car leasing/financing, I have a great history. Which I was told only applies if I want to get another car.

Current FICO scores

EQ 635

TU 607

EX 624

Also Merrick gives me the free Go Score, which is FICO 8 Score which is currently 575, I do not understand why it's lower?

Hard pulls:

EQ: Shows 0

TU: Shows 2

EX: Shows 1

Credit Karma shows more than the actual reports.

UTL: 0% currently

AAoA: 12 years