How long should I wait before I apply for another credit card?

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How long should I wait before I apply for another credit card?

Postby Manas » Sat Feb 09, 2013 12:36 am


I have used a secured credit card (with $300 limit) for 1 year. I recently got approved for a Discover card with $2,000 limit. Now I want to get a Chase Freedom. How long should I wait before I try applying for it?

My credit score is 700. I am a student and trying to build credit history.

Also later I want to cancel the secured card. Should I wait for that too? I heard cancelling a card affect your credit history.

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Postby moxie » Sat Feb 09, 2013 1:27 pm

How long ago did you apply for the Discover? With your short credit history, I would wait about 4-6 months before trying for the Chase Freedom, but I'm a coward so maybe someone else will say it's fine lol.

Does the secured card have any annual fees on it? Since it's your oldest card, I would just keep it and make small purchases on it to keep a little longer of a credit history. Your AAoA (average age of accounts) will be really short if you cancel it within this year. If you've been making all your payments on time, you could try asking your card lender to switch it to an unsecured card?

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Postby MemberSince99 » Sat Feb 09, 2013 5:04 pm

Based on what you've said, I'd say "right now". Chase is relatively easy to recon with so even if you are declined, call them, a couple of times if necessary to get a different analyst, to get the Freedom if that's what you want. If you do have to recon, don't call their application status or customer service line, but instead be sure to call the backdoor analyst number, which is on the FICO forum, or I'll post here if you can't find that just let me know. From what I see you should be good, but I say go for it, and recon if you are declined. Chase is good to get in with, as is Discover. You are doing it right.

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Postby mementomori » Wed Feb 13, 2013 1:42 pm

Hi MemberSince99, my friend opened a retail credit card to get a store discount about 2-3 weeks ago. Now, he wants to get the Chase Sapphire Preferred card.

We're trying to figure out now if it makes sense for him to apply for the CSP now or later. He wants to use to the Ultimate Rewards bonus to get a flight this summer so it's better if he can apply now.

I'm worried it might hurt his credit score if he applies now though since he just got that retail credit card. I've heard it's better to wait 90 days between credit card applications.

What do you think?

And if it's true that applying for multiple cards within 90 days is bad for your score, does it make any difference if he applied today vs. 45 days from now?

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