ilovepizza wrote:
I apply for all at once to avoid future inq's. My score drops more from each one. I figure, loose 20 points each year or loose 40+ points now. So I took the dip now, and when inq's come off score will be up, and no -20 later for the rest. Besides they are aging starting today. If I do them slowly my average will be lower later. But my credit goals are for the future. I am just coming off my low dip and scores are doing really well. I won't have any more inq's on my CR from here on from credit cards. That will keep my score up. It depends on when you will need your credit. Now or later. If now, do 1 every 6 months. If later, I like to get them out of the way at once so there are no new accounts later. Just my 3 cents.
That's how I did it- I will not apply for another card for a year. I got my Macys', Discover Miles, Amex Clear and Chase Freedom- all appllied for in a period of two weeks- the point drop actually wansn't bad for me- just respectively from all three 10 points- and I figure w/ the limits that I got on them that in the long run my util quadrupled from my baby limits of 200 here, 300 here and 600 there.
that being said- it is DEFININTLY time to stop- no need for anything because I have 3 w/ 0 Percent for a year now and on bal transfers.
I will only ask for a CLI in Feb from Amex.
One more thing though- what worked for me may not work for someone else. I still have two unpaid collections for about a 100 each on two reports that are almost three year old- but other than that I have an excellent payment history. Not a single late in almost
three years.
So I think that this method may only work for some people. I know for a fact CITI deplores collections- they told me so.
. My personal opinion is to think in years rather than months and get CLIs rather than new cards.