cancel
Showing results for 
Search instead for 
Did you mean: 

How often to apply?

Auto Loans for ANY Credit Situation. Immediate Response.
Advertiser disclosure
Highlighted
Established Member

How often to apply?

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?

Began building April 2017

8 REPLIES 8
Highlighted
Community Leader
Super Contributor

Re: How often to apply?

If you go by Chase's 5/24 rule, once every 6 months.







Message 2 of 9
Highlighted
Established Member

Re: How often to apply?

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.

Began building April 2017

Message 3 of 9
Highlighted
Super Contributor

Re: How often to apply?

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.
High Bal Jan 2009 $116k on $146k limits 80% Util.
Oct 2014 $46k on $127k 36% util EQ 722 TU 727 EX 727
April 2018 $18k on $344k 5% util EQ 806 TU 810 EX 812
Jan 2019 $7.6k on $360k EQ 832 TU 839 EX 831
Message 4 of 9
Highlighted
Frequent Contributor

Re: How often to apply?

I would first try to get your cl increase on some of your cards before I would get any more cards. What is your Fico scores, make sure that when you do increase that it is soft pull.

Message 5 of 9
Highlighted
Frequent Contributor

Re: How often to apply?

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  :-)

Stay Liquid My Friends...


Starting Score: F8 3xx
Current Score: F8 789
Goal Score: F8 800


Take the myFICO Fitness Challenge


Message 6 of 9
Highlighted
Community Leader
Super Contributor

Re: How often to apply?


@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. 







Message 7 of 9
Moderator

Re: How often to apply?


@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.

 

 

Message 8 of 9
Highlighted
Regular Contributor

Re: How often to apply?


@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. 






Message 9 of 9
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.