CarefulBuilder14 wrote:Is your bankruptcy still showing on your credit reports? Even though it was almost 10 years ago, and your FICO is okay, that remains one possible concern for lenders.
And you said in the other thread you still had a balance on your two older cards? Have you been paying them off in full each month or carrying a balance?
Trying to get 7 different cards from 5 different lenders in one day makes you look risky to lenders. Someone with many years of clean history on many cards could maybe pull that off, but not with your history. I probably couldn't even do it with my short history. I have several of the cards you mentioned - or similar ones - and I got them over the course of about 14-15 months, and the shortest time between applications has been a few weeks.
I would not be surprised if Amex wants to verify your income, FR you, or close your accounts.
I'd also suggest going over your past and expected future spending to figure out what you want as far as rewards. If you get a bunch of travel cards with annual fees, spread your spending too thinly, and don't make good use of the rewards and benefits, then the fees will eat up any rewards you might earn.
Additionally applying for too many cards with signup bonuses at once, even if approved, isn't necessarily a good thing. Can make it hard to meet the spend requirements for them all without buying things you wouldn't otherwise purchase. This then leads to carrying a balance, which will also eat up your rewards value.
Best advice to get these other cards down the road is simple. Pay your bills, in full and on time, each month. Try to avoid letting more than 30% report. Ideally 9% or less. Give it six months to a year and you'll likely be in good shape.
I would say when it's time to go for Discover. The Freedom is a comparably good card and while I have both, if forced to choose, it would be Discover. Reason being that all other things being equal, Discover gives you a free FICO and better customer service. They tend to have similar reward categories, if not in different quarters. The beauty of the Freedom comes if you can get a CSP as well and can make use of the travel partners for points transfers. But then of course you also have the AF on the CSP. If you're wanting it strictly for cash back, then Discover is the way to go in my opinion. I haven't found acceptance to be a significant issue.