Do credit card companies decline your application if you apply

>>1818619
They noticed that you had a high amount of recent credit background checks on you since you just got 4. They don't like that and it hurt your credit score

>>1818626
>>>1818619 (OP)

It surely can't hurt enough to get declined if the credit is decent though right? I was under the assumption it just does a temporary marginal bump lower and then goes right back up

never ceases to amuse me: murricans and their credit score worries.

If you have multiple hard inquiries it's just a flag that says "This person may be taking out a massive number of loans/negative equity right now"

Obviously that makes it look like you're doing something retarded. I'm much less likely to lend you money if I see a paper trail that says that you've been borrowing money elsewhere, because it means your fiscal situation is worse.

>>1818619
They didn't used to. It was called "app-o-rama." You applied for, say, 100 cards so close together that they all checked before each other's checks actually hit your score (your score is not updated in realtime). These days, most of the cards I've been seeing don't have an attractive enough rate to bother applying for so it's moot.

>>1818650
>It surely can't hurt enough to get declined if the credit is decent though right?
Making many credit apps implies you're looking to take out more in credit than you ever have before, and your credit isn't good enough to warrant a single high credit account. Thus your credit is downgraded.

You can have good credit and get declined on the grounds your accounts are behaving suspiciously. Happens all the time. The more apps you fill out the less likely you are to be accepted. Just give it a rest for a bit and pay off your new cards quickly and efficiently before making any more applications.

>>1819321
>These days
These days most credit cards are operated by the same small number of companies using different branding. You can't easily hide that you're applying for 20 cards when 18 of them are actually underwritten by Chase.

>>1818655
The fico only matters if your trying to get a loan on a mansion or something.

As long as your in the green 700 or higher they will loan you money.

Also credit cards are all the same, The interest rates are all variable at 15 - 20% for rewards cards and 8 - 10% for non-rewards cards.

The interest rates are dog shit on all of them, You'd be better off finding a local loan shark to borrow money from or get a loan from a pawnshop.

>>1819655
in my country there is not such thing as credit score system, and ccs are usually 25-39%. no real competition for reward cards either. the newly issued cards are 98% debit 2% credit and from 20% the cc penetration shrunk to 12% of total cards or less.

i guess you could say it's not a thing here.

>>1818619
do you know your FICO score? I like my discover IT since it gives me my jew score every month

>>1819344
who isn't underwritten by chase?

>>1821303
Capital One, American Express, Discover.

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>>1821335
le upvote

>>1818619

Multiple (~4+) credit checks in a short amount of time is a red flag for possible identity theft and some credit card companies don't feel it's worth the time to risk it.

>>1818619
Everyone is wrong. There is nothing wrong with it. There is a cost to the credit "hits" and reducing your length of credit(average age of credit counts), but if your credit is really great it is minimal. Someone mentioned an app-o-rama. I did it last year. I raped every bank that had some kind of sign on bonus, easily got back an extra $1000 just from normal spending. My credit score at the start was 748 back in August when I started. Today it's 761. But I'm also extremely fiscally responsible and never carried a balance.

My recommendation would be if you're going for signup bonuses, make sure you'd "naturally" hit the spend goal in the time they ask. Spread them out.

Anyway, I just gave you my Transunion numbers, it's an emphatic "NO", it shouldn't affect it that much as long as you don't get stupid about it.

>>1821335
My catalog: BoA, Chase, Capital One, Wells Fargo, I haven't gone after AMEX yet. For each of these I had my wife do the same thing, so I had double the benefit.

>>1821423
Yeah, there's a few companies ... but fewer than most realize. I currently have three "different" cards -- United, Chase Freedom, and Amazon Prime -- that are really all just Chase.

>>1821446
Go after BoA, Capital One, Wells Fargo and maybe Amex. All worked out beautifully. My score took a hit on the balance timing for a month or so but it was worth it. On average it's paid my electric bills and Netflix for the year. Actually got down to 697 one month because of timing but jumped up immediately after paying that off.

These banks model these programs after people who have no discipline and get sucked into debt and end up paying a shit ton of interest. Just use it as a normal card and be sure you're covered in cash, and all it can ever be is a discount on everything you buy.

My only regret is running out of banks.