How often/much do you app?

[red259]

Since I am still laying the foundation of my credit report (have six cards at the moment). I have been trying to keep my app cycles to once every six months or so and no more than 3 to 4 cards at a time. I have read about people applying for four credit cards every 91 days and was wondering what practice everyone uses namely, how often do you apply for cards and when you apply how many do you usually go for in one cycle?

[09Lexie]

I don't have a pattern per se but the last year or so, at least 6 mos apart.  Also, usually 3-4 cc's I did have a larger spree last year of 6 new TLs but that included an auto loan. 

[dodgerslv]

I wasnt a good boy the past year. Applied for 12 cards and approved for all.. It was about a 2-3 cards at a time spaced around 2-3 months apart every time. I have stopped for about 2 months again but really aiming to go longer this time.

[red259]

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@dodgerslv wrote:

I wasnt a good boy the past year. Applied for 12 cards and approved for all.. It was about a 2-3 cards at a time spaced around 2-3 months apart every time. I have stopped for about 2 months again but really aiming to go longer this time.

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Towards the end did you have difficulty with approvals or notice a decline in credit lines? 

[dodgerslv]

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@red259 wrote:

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@dodgerslv wrote:

I wasnt a good boy the past year. Applied for 12 cards and approved for all.. It was about a 2-3 cards at a time spaced around 2-3 months apart every time. I have stopped for about 2 months again but really aiming to go longer this time.

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Towards the end did you have difficulty with approvals or notice a decline in credit lines? 

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To my surprise i actually didnt see much decrease at all except for my 2nd barclays card approval.All my approvals were instant except for Citi that always tells me to call in for processing but they all ended up getting approved. My last approvals (01/06/14 and 12/9/13) was Chase Ritz for 20k and before that Citi Prestige for 11500. My first Barclays was back in June, the Arrival for 5k, the second (williams sonoma card) was in December for 3500. I must add though that Amex hasnt liked me opening all those cards, have been declined for a 3rd Amex 4 times in the past year and also any eligible CLI request.

[enharu]

I think the answer is going to depend on each person's profile.

It's not just the number of accounts added as well. Lenders do look at the total amount of credit that you have added and also number of inquiries you picked up along the way.

[dodgerslv]

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@enharu wrote:

I think the answer is going to depend on each person's profile.

It's not just the number of accounts added as well. Lenders do look at the total amount of credit that you have added and also number of inquiries you picked up along the way.

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youre right enharu, and i am glad they did re-open the cards you have with chase! Im afraid i may be at hight risk for any type AA. I opened 5 chase cards in a period of 10 months. I am nearing my first one year anniversary with the one of my Chase cards, i would not be surprised if they take some kind of adverse action after they see i have opened 5 of their cards plus 7 more (4 Citi, 1 Bofa, 1 Barclays, 1 GE) in the last 10  montths. I am more at risk cuz i still have some baddies lingering around till next month and then august/september (when they are due to fall off). Oh well, i applied already so there is nothing i can do now but just hope i slip through their cracks...LOL

[enharu]

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@dodgerslv wrote:

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@enharu wrote:

I think the answer is going to depend on each person's profile.

It's not just the number of accounts added as well. Lenders do look at the total amount of credit that you have added and also number of inquiries you picked up along the way.

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youre right enharu, and i am glad they did re-open the cards you have with chase! Im afraid i may be at hight risk for any type AA. I opened 5 chase cards in a period of 10 months. I am nearing my first one year anniversary with the one of my Chase cards, i would not be surprised if they take some kind of adverse action after they see i have opened 5 of their cards plus 7 more (4 Citi, 1 Bofa, 1 Barclays, 1 GE) in the last 10  montths. I am more at risk cuz i still have some baddies lingering around till next month and then august/september (when they are due to fall off). Oh well, i applied already so there is nothing i can do now but just hope i slip through their cracks...LOL

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You will be fine. If something was going to happen, it already would have.

The analyst cited I had obtained over 300k of unsecured credit over the span of 1 year, on top of 15 inquiries (some were auto loan), which was why they took Aa.

[gdale6]

For myself no more than 2 new TLs in 6 month period (CC & instal loans included) will do 1 extra (once a yr) if there is money to be made in getting a particular card. This method tends to keep the AAoA, inquiries and FICO scores in check.

[BigBS]

No set pattern for me either.  Before last month hadn't app'd in 2+ years, but then did 4 over a 6 month period.  In the garden now, for an indefinite period.