Too many new cards in a short period?

[Open123]

It's definitely a case by case scenario, but in general 3 per quarter is pretty safe.  Ideally, app for 3 cards that pull from each CR respectively, such as Amex on Ex, US Bank on EQ, and Barclay on TU.

[Stanic413]

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@mongstradamus wrote:

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@lg8302ch wrote:

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@HailtotheVictors79 wrote:
I am just looking to do some gardening after this spree for at least a year. So a hit to my score at the moment would beI acceptable.

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excellent idea... see you in the garden

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still no luck with your nemesis that is the freedom ? I had no luck with my nemesis discover IT :-(

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These two are my most frustrating cards. I am also stuck with high rates and little to no CLIs. 

OP, if you know you are going to garden, I would say 3-4 are good. That's my plan after my recent spree.  Sounds like a good move. 

[Anonymous]

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@lg8302ch wrote:

Last year when I got horrible terms (example Chase Freedom) I realized that this was 1 card too much.. I should have waited as now I am stuck for life with 22,99% APR

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Have you considered closing it and reopening at a later point?  Looks like you have enough card for AAoA not to be too big a factor.   But maybe too much hassle just to get a lower APR you don't plan to use!

Just made me want to check my APR!  OK, it's less...

[StriveToProsper]

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@Anonymous wrote:

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@lg8302ch wrote:

Last year when I got horrible terms (example Chase Freedom) I realized that this was 1 card too much.. I should have waited as now I am stuck for life with 22,99% APR

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Have you considered closing it and reopening at a later point?  Looks like you have enough card for AAoA not to be too big a factor.   But maybe too much hassle just to get a lower APR you don't plan to use!

Just made me want to check my APR!  OK, it's less...

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I received a high APR on my Freedom as well. I'm hoping that once I'm done gardening, they'll be willing to lower the APR upon request. I'm not sure if Chase offers this but other grantors have from what I have encountered. 

[Anonymous]

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@HailtotheVictors79 wrote:
How many new cards is too many in a 3 month period. I have 3 now

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Each person's credit is evaluated in a particular context, so the answer to this question varies widely.

The context is driven by account age, derogatories, number of open accounts, and so on.

[chalupaman]

I kinda regret a few of the store cards I got in all honesty because I think I could have had a chance at better cards if I had really thought about it more at the time and had much more of a plan rather than being obsessed with having a bigger overall CL. Anyway, I second what everyone else has been saying.

[Stanic413]

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@StriveToProsper wrote:

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@Anonymous wrote:

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@lg8302ch wrote:

Last year when I got horrible terms (example Chase Freedom) I realized that this was 1 card too much.. I should have waited as now I am stuck for life with 22,99% APR

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Have you considered closing it and reopening at a later point?  Looks like you have enough card for AAoA not to be too big a factor.   But maybe too much hassle just to get a lower APR you don't plan to use!

Just made me want to check my APR!  OK, it's less...

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I received a high APR on my Freedom as well. I'm hoping that once I'm done gardening, they'll be willing to lower the APR upon request. I'm not sure if Chase offers this but other grantors have from what I have encountered. 

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I've had my Freedom 3 years and have asked 3 times. Told each time they review periodically and I am not eligible for a lower APR or CLI.  My Freedom gets very little to no activity as a result.  They like to send me balance transfer checks though. I always throw them out.

[Open123]

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@Stanic413 wrote:

I've had my Freedom 3 years and have asked 3 times. Told each time they review periodically and I am not eligible for a lower APR or CLI.  My Freedom gets very little to no activity as a result.  They like to send me balance transfer checks though. I always throw them out.

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Just curious, but the Freedom is a rewards specific card where the carrying of any balance other than a 0% would render the rewards earned meaningless.  Given that rewards cards should be PIF, why care about the APR, if it'll never be used?

If one's intention is to carry a balance, there are specific cards ideally suited for that purpose, such as the Slate, Simmons, etc...

[Stanic413]

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@Open123 wrote:

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@Stanic413 wrote:

I've had my Freedom 3 years and have asked 3 times. Told each time they review periodically and I am not eligible for a lower APR or CLI.  My Freedom gets very little to no activity as a result.  They like to send me balance transfer checks though. I always throw them out.

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Just curious, but the Freedom is a rewards specific card where the carrying of any balance other than a 0% would render the rewards earned meaningless.  Given that rewards cards should be PIF, why care about the APR, if it'll never be used?

If one's intention is to carry a balance, there are specific cards ideally suited for that purposeI  such as the Slate, Simmons, etc...

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My balance on the card is $0.

 I care about the APR and CLI for two reasons. First, if I ever make a purchase where I'll need to carry a balance, I'd prefer to have a lower APR. Esp if it's in a rewards catergory (Lowe's for example). Plus it would be nice to have a CLI to support those purchases without necessarily maxing out the card.  Second, my relationships with these lenders is of value to me. If they dont acknowledge my higher scores and lower balances and are only concerned about making money and not retaining good customers, I'll use or apply for a different card.  Also, why wouldn't I ever try for a reasonable APR on all cards regardless of intent to use? I always use the card with the best rewards AND lowest APR even when I pay in full. 

[Anonymous]

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@Stanic413 wrote:

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My balance on the card is $0.

 I care about the APR and CLI for two reasons. First, if I ever make a purchase where I'll need to carry a balance, I'd prefer to have a lower APR. Esp if it's in a rewards catergory (Lowe's for example). Second, my relationships with these lenders is of value to me. If they dont acknowledge my higher scores and lower balances and are only concerned about making money and not retaining good customers, I'll use or apply for a different card.  Also, why wouldn't I ever try for a reasonable APR on all cards regardless of intent to use? I always use the card with the best rewards AND lowest APR even when I pay in full. 

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I think every issuer relationship IS about making money, retaining good customers is perhaps just part of that.  So if lowering the APR makes you feel good, fine, but it really isn't an indication that the issuer respects you etc, just that you fall into acceptable risk category, and the minute that changes, so will your treatment.

But your last sentence surprises me, for me it's very rarely the case that the highest rewards and lowest APR is on the same card.  As Open suggests, rewards cards in general have higher APR.

And of course you get try for reasonable APRs on all cards, it's just that some of us don't see that as worth even the minimal effort.