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Message
re: Credit Card Apps - All in same day
Posted on 10/22/13 at 3:36 pm to Golfer
Posted on 10/22/13 at 3:36 pm to Golfer
quote:
Basically because the bureau's can't communicate quick enough with the Lenders so it won't flag the multiple requests as too many open lines of credit within a short period.
So that's it? Just to take advantage of timing?
1
Posted on 10/22/13 at 4:18 pm to LSUAfro
quote:
So that's it? Just to take advantage of timing?
Pretty much.
An ancillary benefit is if you want to book a trip soon. You do your "app-o-rama," hit all the bonus requirements, get all your points, book your flight and wash your hands of it.
I follow a lot of this stuff pretty closely and have been building up my credit this year. Started the year with about maybe $8,000 in CLs and now have about $40,000.
I do about a new card every six months. Getting in nice and slow and building up my Chase relationship as I think they got the best suite of cards. Once, I'm done with them I may try Amex. Regardless I request CL increases every 6 months for just about every card I hold.
quote:
how much of an impact does this have on your credit report with having some many hard inquires?
Each application is about 2-5 points off your score and recovers quickly. Most effective individuals have scores north of 720 to do this.
This post was edited on 10/22/13 at 4:24 pm
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