I am coming up on my 2nd year in the credit game and wanted to know. How often should I wait between approvals to apply for another card I want?
If you go by Chase's 5/24 rule, once every 6 months.
Thanks for the info. I have other accounts with Chase but, im staying away from the credit cards for now. I'm aware of that 5/24 rule.
Generally apps should be few and far between.
The more important question is, which cards do you have, and which cards are on your list to apply for eventually? The goal cards are those that you think might provide the cash back or rewards / benefits you can use long term.
The more important question is, which cards do you have, and which cards are on your list to apply for eventually? The goal cards are those that you think might provide the cash back or rewards / benefits you can use long term.
App Spreeeeeeeeeeeeee.....
Let's go !
Ok how about an Amex charge card(or maybe a BCE?), a citi rewards card like dbl cash, cap 1 QS ---- ooh maybe a nice low interest CU card.
Oh the fun we'll have :-)
Starting Score: F8 3xx
@NTCCole wrote:Thanks for the info. I have other accounts with Chase but, im staying away from the credit cards for now. I'm aware of that 5/24 rule.
My point was a lender like Chase expects the average person to not apply for credit more than once every 6 months, hence their rule. It's not just them. Us bank and Barclay also expect 6 mos between apps, and they're not the only ones.
@Remedios wrote:
@NTCCole wrote:I am coming up on my 2nd year in the credit game and wanted to know. How often should I wait between approvals to apply for another card I want?
Apply when you have the actual need for additional credit. Usually longer periods between apps yield better outcomes, but it all really boils down to individual profile.
+1, I wish I had spread out my last two apps over 6 months, but my profile supported the SUB now versus the future. Do what you want, but be advised the feedback here is to help support you have a stronger profile.
