I noticed that my score had finally gotten up to a good score range and I wanted to get an AMEX card to diversify my credit cardsand transfer a higher interest MACY's major purhcase balance to with a low BTR and low after intro APR. I researched rates, and possibility of approval for over three weeks. I compared and contrasted the AMEX to DS and CITI and a few others like BOA, Chase, HSBC, etc. to help identify which one would be best for me to get. I know that I am not an 800 score I just felt like after several years of paying of debt, consistently paying 10 X the min on high rate cards, I deserved better. I received a mail invitation from CITI, then Amex and finally Discover, all in the same week. I figured what they heck, I'll try it. One of them has to give me a good card that will meet my needs. I applied online for Discover, and I called AMEX and CITI. The all approved my and CITI offered me an addtional card as a professional.
My fear is that I have hurt myself more than anything else becuase now I have four new credit card accounts. Only after joining and reading this forum did I realize the adverse impact that this could have. How long will it take to recover from this? I really wat to get to 770-810 by next June without having to do too much out of pocket. Should I call anyof them back and just cnacel them before they report? HELP!!!!!!!!!!!!!!!!!!!
good question. in the last couple of months i've taken out a couple of loans and several credit card/store cards. i haven't seen a drop, but the scores aren't going through the roof either. hopefully someone with some insight will resond and we'll both get an answer.