New CC Application Schedule

Discussion in 'General Discussion | Credit Cards' started by Slow_Mustang, Aug 6, 2012.  |  Print Topic

  1. Slow_Mustang
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    Slow_Mustang Silver Member

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    For CC churning, most bloggers favor applying for a set of new CC's every 90 days or so. That is a fine schedule to go by as long as you can juggle 4-5-6 cards at a time to meet the minimum spends on each of the approved new cards to harvest the promised miles/points. But, I prefer to apply for new CC's at the rate of one a month. Sometimes, if a special purchase needs to be made, then it becomes 2 new CC's/month for some months out of the year. This keeps the flow going and I don't have to juggle too many cards at a time for meeting the spend requirements. I was just curious if others follow some non-once-every-90-day churn schedule? BTW, 'Million Mile Secret' seems to have a working 50K reward, B of A Virgin Atlantic AMEX link on his blog.
     
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  2. misterbwong

    misterbwong Silver Member

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    Seems like this would be good from a min spend standpoint but it might be rough on someone from, say, California where most issuers use Experian.
     
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  3. Scottrick
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    Scottrick Gold Member

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    4-6 cards every 90 days is a lot. I think 2-4 every 90 days might work, but my personal preference is 3-5 every 6 months.
     
  4. booyaa
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    booyaa Silver Member

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    I think it depends on which credit bureaus are used as well. Amex pulls Experian for me. Chase, for whatever reason, pulls both Transunion AND Experian for me. Citi uses Equifax, and I think BOA uses Experian as well. I can only take so many Experian hits in a year even if I spread banks out and go personal/business combo...
     
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  5. Slow_Mustang
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    Slow_Mustang Silver Member

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    So far I have applied for 10 CC's this year and been denied once. That denial was for the US Airways Biz card and the reason given was that I already had enough credit on the US Airways personal card.
     
  6. mrredskin
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    mrredskin Gold Member

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    I've seen nothing that would support the "every 90" argument, based on my own applications. When I did four earlier this year, my credit score dipped a bit (~20 points). It went back to the previous level three months later. I've done a card roughly every 30 days since, and have not seen that kind of dip, if any, at all.

    Just my own experience. I wouldn't recommend, nor will I act on, applying for a card every 30 days.
     
  7. Slow_Mustang
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    Slow_Mustang Silver Member

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    I too was not recommending anything, just describing my own experience, as opposed to what the pundits in various blogs suggest. I was not worried about the credit score taking a dip, rather in juggling too many cards at a time. Sure, some people have large reimbursable business expenses and can meet the minimum spend on several cards within a month. But for us 'normal' folks, the path is different and a bit tedious.
     

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