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Timeframe for new card apps?

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LooksAreDeceiving
Contributor

Timeframe for new card apps?

I currently have a WF Propel (3k SL) which I received 4 months ago (3-27), which is the only open account on my credit report.  I have a closed account (~ 14 years) which is due to drop off within the next year.  My goal is to obtain 3 more cards, in order to thicken up my file.  I'd like to do this sooner, rather than later, since I'm also planning to pursue an auto loan in about a year.

 

I plan to apply for the following cards, starting at the end of this month: Chase Freedom, PayPal MC, and Discover.

 

I would prefer to apply for all three at once, but I'm concerned about any AA that may occur as a result.  If such is the case, how much time should I wait between apps?

 

Any insight/suggestions are appreciated.

 

Thanks.

 

 

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pizza1
Community Leader
Super Contributor

Re: Timeframe for new card apps?

Personally Id wait till you have at least 6 months positive payment history reporting on the new account before applying.

I would apply to Chase 1st due to their 5/24 rule, then Discover (do the prequel first and see if they offer you anything with a set apr).

I would then wait 6-12 months after that before applying for another one. With a thin profile like yours, its best to wait in between.
Message 2 of 3
LooksAreDeceiving
Contributor

Re: Timeframe for new card apps?

Ok, I'll wait until after my 6 months is up.

 

So, after that, it's OK to app for both Chase and Discover at the same time without concern?

 

Note:  I've tried a few times for Discover's Prequal offers, and the second-to-last time I was approved for both the Cash Back and Chrome (although this most recent time I was declined, with no report changes in the interim), although I didn't receive an APR (which I guess is indicative of a firmer offer).  My score has been depressed due to my high reporting util, however (which I will address before apping for any other cards).

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