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Greetings CC concerned community!
Decided to take advantage of PayPal's Credit offer and applied/got instantly approved for... $1000. I've been thinking of adding a new card to my wallet. How long should I wait after a hard credit check to apply for an actual card?
Also, is there a correlation between CL and day of the week? i.e. was a non business day not a good time to apply, and receive a low PP Credit limit?
When to apply for additional credit is going to be different for people and really profile dependent. Without knowing more about your file and history, it'll be hard for people to guess.
The day of the week has nothing to do with limits issued as instant approvals/denials are made by computer software based on the strength of the applicant's credit and what it determines the likelihood of defaults to be.
756/729/698 & well maintained payment history.
@JoeRockhead wrote:..The day of the week has nothing to do with limits issued as instant approvals/denials are made by computer software based on the strength of the applicant's credit and what it determines the likelihood of defaults to be.
I was thinking in terms of a human sitting there on a regular buisiness day and a pop up appears on their screen to quickly access, approve/deny applications..
@Au_Pt wrote:Greetings CC concerned community!
Decided to take advantage of PayPal's Credit offer and applied/got instantly approved for... $1000. I've been thinking of adding a new card to my wallet. How long should I wait after a hard credit check to apply for an actual card?
Also, is there a correlation between CL and day of the week? i.e. was a non business day not a good time to apply, and receive a low PP Credit limit?
1. It doesn't really make a difference how long to wait after a hard pull. 1 day is probably the same as 100 days. It might make a difference once you get into the 6-month neighborhood.
2. No, there's no correlation between starting limit and day of the week.
@Au_Pt wrote:756/729/698 & well maintained payment history.
@JoeRockhead wrote:..The day of the week has nothing to do with limits issued as instant approvals/denials are made by computer software based on the strength of the applicant's credit and what it determines the likelihood of defaults to be.
I was thinking in terms of a human sitting there on a regular buisiness day and a pop up appears on their screen to quickly access, approve/deny applications..
Everything is done by computer algorithms these days the only time you will speak to a person is if you get a application denied and wish to call in for reconsideration and plead your case.