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Its one of those things. If you know, you know. Easy money.
That's B.S. Wifey and I apply for at least 6-8 cc's/year and our credit rating is around 830/ea. Applying for a cc makes a tiny hit to your cc rating which goes away pretty quickly.
If your credit rating is so bad that your worried about this, then you have bigger financial problems to solve.
The amount of new accounts opened per year is only a small percentage of the overall credit formula. The majority of your score is based on you debt to income ratio. I open around 4 cards per year and sit around 790-810 credit score. That is still in the range to get the best available interest rates.
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The only way to get past that is to take on hundreds of thousands of dollars in debt in the form of a mortgage. You'll be over 800 after your first payment.
Negative. Ive never broken the 800 barrier with my mortgage, loans, on time payments, etc.
Do you actually cancel them after to only reap the sign on bonus etc or just hold on if no annual fee?
I cancel them after the bonus posts. It frees up the credit for the next card you apply for. (Chase is rather stingy on extending credit on their business cards so you need to free it up.)
If cancelling causes a slight ding on your score, I've never noticed. I'm well into the 800's.
I cancel them after the bonus posts. It frees up the credit for the next card you apply for. (Chase is rather stingy on extending credit on their business cards so you need to free it up.)
If cancelling causes a slight ding on your score, I've never noticed. I'm well into the 800's.
If you cancel and same company like Chase don't they not approve you again for 18 months or something?
My credit is not that great around 660 I got approved no problem for five grand.. if anything that just gives me more available credit to help my credit. Also this offered by chase, not synchrony which is pretty good I think
Get this every time I try pre qualify - got same message 6 months ago - not gonna do it as I have over 5 cards in 24 months "Unfortunately, we were unable to process your pre-qualification request at this time because we were unable to obtain your credit report."
I've had the same problem, with it never working for me. I'm now at exceeding the maximum number of attempts.
Please do not take credit advice from anyone on slickdeals. There are subreddits dedicated to stuff like this. r/churning, r/creditcards, r/credit. While it's still random people on the internet, they are very helpful and a lot of them specialize in this stuff. Or check out nerdwallet. Too much misinformation on SD.
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If your credit rating is so bad that your worried about this, then you have bigger financial problems to solve.
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I cancel them after the bonus posts. It frees up the credit for the next card you apply for. (Chase is rather stingy on extending credit on their business cards so you need to free it up.)
If cancelling causes a slight ding on your score, I've never noticed. I'm well into the 800's.
If cancelling causes a slight ding on your score, I've never noticed. I'm well into the 800's.
If you cancel and same company like Chase don't they not approve you again for 18 months or something?
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I believe this is the highest bonus this card has ever offered!
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