When To Apply For Your Next Credit Card?

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[dryden]

you should make a video of all the credit cards you have, and the thought process you had when applying for each card

[mcomeslast]

Yes. Great advice. Biggest thing I have learned is slow down and take time to garden between “harvests”. I will apply for a couple cards at a time, but have found, for me, waiting almost a year between rounds works the best. Gives them time to see I’m actually using the card(s) and I can decide what is really working for me.

[IkaikaArnado]

It should be 3 to 4 months per card, on average, with the current rules. That way you can recycle bonuses.

The churn cycles are 4 years. Unless you have crazy high cash flow, and don't care about your credit, it's a better idea to pace applications.

People that are impatient shouldn't play the credit card game. It's a marathon not a sprint.

[cab]

My wife and I each apply for a new card every 6 months (allowing for a new card between us every 3 months)... makes for a good pace that earns plenty of points yet still conservative...

[christianlodahl]

I typically wait about 5 to 6 weeks utilization is huge if you rotate over several issuers keeping everything under 10% you're typically good and you're establishing a responsible relationship with these issuers and their products

[lotto]

Just got approved for an American Express everyday card with a $1000 limit.

[JazminBautista]

Exactly!! It all comes down to understanding how to take advantage of these credit cards! Keep up the good work ❤️

[eric.c.jackson]

I only want five CCs. Last week, I got made it down to one line of Debt left on my Credit Report, so now, I'm looking at rebuilding my Credit Score. Last week, I applied for 4 CCs (on the same day) and was Approved for three. I will wait a few weeks to receive the Cards and begin using them before I start looking around for two more CCs.


I was thinking of places like Best Buy, Target, Walmart even, because I Shop at these places the most. Hmm, perhaps a gasoline Card like BO or Amoco ..I'd definitely use that Card.


When I was in my 20s, my CCs got way outta control. Once I finally paid them off, I hadn't used one in years. Now, I'm ready to responsibly manage them. Thanks for the Links. I'm only Applying for Cards with No Annual Fee. :)

[notosure]

I received three hard pulls in the last year.
New Years Day - 1st card
February - 2nd card
And an auto loan just last week.

However I got 4 new cards during this time. AmEx pulled for the first card on New Years, then in March didn't pull for my Blue or Gold cards I applied for (and got).
February was for a Chase Card.

For 12 years I ran a single card, before learning how the credit scoring actually works.
And now I went from low 700's (690-710) to low 800's (790-810). With the three hard pulls on my account.
Totally worth it!

[Howtogetancreditscore]

Great point. Hard inquiries affect people with higher credit scores less and their affects are temporary. Great video

[iPodKingCarter]

I will be starting fresh with this method.

[BruceM]

Hey Brian, thanks for the video. I've been in this game a little over a year and have about a dozen cards at this point. I mostly follow your practice in terms of spacing of applications. I now seem to have hit a brick wall, in that all the cards I am now after have either been denied or it's clear I can't get, because of the issuers' concerns about the number of cards I've opened in the past year or my existing credit limit total. I can't get any BOA or Wells Fargo cards, and Barclay appears to have a 6/24 rule. I've already got all the AMEX cards I want, and most of the Chase cards I want, and Citi apparently won't give welcome bonuses for 24 months if you've recently acquired another Thank You point card. I suppose it won't kill me to take a pause, but it's a bit frustrating. I have a TransUnion score of 829 and keep my pending balances low.

[ctguy]

I have been getting cards every 2-3 months since 2015. I space them out getting one business card, then one personal. I spend enough to get the bonus points then move onto another card. I track them all on an excel spreadsheet ensuring that I cancel them before 1 year is up so I don't to pay the fees. I try to space them out so I don't get turned down by chase and keeping track on the spreadsheet helps. Remember only the personal cards count towards the 5/24 rule. But if you have 5 personal cards in 24 months, chase may turn you down for both business and personal cards. I have three cards that don't have annual fees that I have had for 10 years. This helps to keep my credit score high. I like to travel so my goal is to try to never pay for airfare for both me and traveling companion.

[josephgulledge]

Just to add a data point. I got the chase freedom in late July 2019, IHG early Aug 2019, CSP 11/20/19. I was a bit worried to apply for the CSP but got instant approval. Thanks for the great content Brian used your referral link for the CSP brother.

[chnaresh]

6:27 Golden words for me. I like this guy.

[edwardehunt]

Hard Pulls doesn't really affect you, I have 12 cards with 180k worth of credit, average account age is just over 3 years, and my score is 811. With 8 pulls in the last 24 and 6 pulls in the previous 12... no business cards... yet... working on my first one now

[TheWallStreetVibe]

Good video bro. I typically wait about 45 days but I've pumped the brakes on applications until next year.

[sbrooks]

I miss when the page was like this but I respect the growth

[chrisbrown]

Ok you’ve talked me into applying for the CSP lol. I got approved for my last Chase card on 8/7/20 which was 9 weeks ago from today so I think that’s more than enough time. My score is very good and my utilization is excellent so I should be good 🤞

[Nwakaego_]

Your videos remind me of Bethesda, MD. It’s luxury, relaxing and so mellow there. That was one of the few places I enjoyed visiting during my time in the DMV. Keep putting out great content Brian. We newbie credit card users to the Chase and AMEX game are learning so much. Appreciate you man!🥂💯