Most lenders will approve cards when your AAoA is greater than a year and six months is reasonable spacing between most apps — Chase, US Bank, Barclays, Capital One are some lenders that are known to have some x/24 policies on some or all of their cards so be mindful of those.
Subs are fun but, they're going to be mediocre if your AAOA is really under 1 year. Most of your options will be limited by rules for churning that are in place.
When you knock out the major players like Chase 5/24, BOA, WF, Barclay's and so on you're left with the smaller regionals to deal with.
The problem is with a ton of activity instead of being able to snag $505 on a CSP you'll have to take 2-3 or more cards to get to that same level with smaller lenders. It's not going to help your AAOA to grow further unless you can find a reason to actually keep them beyond the SUB. The smaller cards fall short in comparison to the bigger banks when it comes to finding uses for them if you already have a decent arsenal for rewards.
Now is the time to be in "time out" and work on getting your existing CL's up. Hitting those thresholds will help on the approvals as well instead of accumulating a ton of sub 5K CC's. Even when you have some higher limit cards you can still get slapped with low CL's upon opening for a SUB. My last round resulted in a spread from 10.5 K-25K w/o recon the highest was 21K from Regions and the highest was Uber after a phone call to 25K. The 10.5K were BBT x 2 and they've been a bit of a pain to deal with.
I think it's way too early for you to start chasing subs. One year AAoA is minuscule in credit age.
Dont shoot yourself in the wallet before you even start.
SUB chasing should be left to those who can afford AA, closures etc.
You're not there yet, and using lowest common denominator (maintaining one year AAoA) is really a poor strategy.
OP never said they would be maintaining one year AAoA. OP is already at the point where each app drops AAoA by a month, spacing by 6 months is reasonable like I said and AAoA will still be going up.
Better to get a thicker file when you’re younger than take big hits for it later. As long as apps are spaced by 6 months, no rules are being run afoul and AAoA is going up too.
So are you saying possible aa from my current and future credit cards may arise with one new credit card every 6 months? That is like saying if you are 5/24 (all 5 approvals) or more you could see adverse action from most Banks.
I'm not trying to be rude or anything I am just trying to understand. I have heard a lot about barclaycard's being taken awayfor opening too many credit cards after approval. And a few other Banks.
The way I look at it is I will not be getting a house for at least 3 years so why not seed my garden now or in the near future I should say. While my aaoa will grow at least 10 months per year. So in three years even if I got six cards spaced out 6 months my aaoa would only be affected by less than 6 months.
I am a bit confused because from what I understood Spacing applications out by 6 months is a good strategy.
The last thing I want is AA but honestly if one card got shut down I wouldn't be that concerned
I highly doubt that AA will arise from one card every 6 months. That’s 4/24 and is by most standards very reasonable, especially since your AAoA would still be going up with each account you add given that your profile is thick enough that adding a new account isn’t costing you much in AAoA.