Is it better to apply at the end of the month.

[Anonymous]

I know for certain it is better to apply for auto loans during the last few days of the month because that is when lenders need to fill their quota and are more willing to approve you for an auto loan. I know this from experience had four different lenders tell me if I wanted better odds of getting an auto loan to apply at the end of the month. I was wondering if this might be true in the credit card world. I'm not sure if the credit card lenders have quotas to meet.

[FinStar]

Not for credit cards.  There may be certain promotions that may run from time to time (sign up bonuses, newly introduced CCs, etc.) by some lenders but there are no specific periods during the month where there is a certain "quota" to meet where there might be "laxed" or "better chance" approval criteria for any given lender.

[Anonymous]

Oh ok I figured that would be the answer but wasn't sure. I was thinking this might be the case for credit cards lenders that do Manuel Reviews for approvals but I guess not.

[Anonymous]

I dont agree with this theory.

[Anonymous]

Which part don't you agree 

[Anonymous]

I believe credit availability is based more on economic conditions and of course personal credit records.

[Anonymous]

That might be the case but I know when lenders that have to meet a monthly quota and if they are below that quota might be willing to accept those who might normally not qualify. I know in the auto loan market this does happen as I had personally seen a friend of mine get approved. The lender told him out right that if he would have had applied at the beginning of the month he would have been denied and this was from wellfargo. 

[Anonymous]

But the credit card game is a different game than that of the auto loan industry

[Anonymous]

Exactly. Secured loan vs unsecured.

You can repossess a car.

You can't repossess a TV bought with a CC.

[joedtx]

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@Anonymous wrote:

Exactly. Secured loan vs unsecured.

You can repossess a car.

You can't repossess a TV bought with a CC.

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This is unrelated you just reminded me of something:

I didn't think TV's got repo'd but I answered a newspaper ad for an outlet store and when I asked about the Merchandise they stated they were repo'd Tv's, Appliances's etc from the store credit cards that didn't get paid. Weird huh....I never thought that happened.