Credit Card Programs - Is applying for one card at a time a mistake?

While I have myself become addicted to getting miles everywhere I can, I have only applied for credit cards only when I have felt I needed the points. Over the past 6 months, I have applied for 3 cards, each separately when it best suited my spend situation.

Other than the double brower issue for AA miles, I haven't felt the need for getting 4 to 5 cards at once. However, the professional here all seem to do it that way. Am I hurting myself credit wise or something by doing it one by one.

I do plan to apply for another credit card soon. Should I bundle a few other along. I do have a high credit score.

i don't think it hurts you to do one at a time(only time it is beneficial to apply for more then one is if its the same bank for two different cards)..score wise it shouldn't affect you other then the fact that you have 3 inquiries in 6 months...if you applied for the same 3 cards on the same day to me it will have the same affect...

While I have myself become addicted to getting miles everywhere I can, I have only applied for credit cards only when I have felt I needed the points. Over the past 6 months, I have applied for 3 cards, each separately when it best suited my spend situation.

Other than the double brower issue for AA miles, I haven't felt the need for getting 4 to 5 cards at once. However, the professional here all seem to do it that way. Am I hurting myself credit wise or something by doing it one by one.

I do plan to apply for another credit card soon. Should I bundle a few other along. I do have a high credit score.

Nope, I think you're fine. Like a lot of folks, me included, you probably have a work life that would keep you from using all the points you could earn if you did regular "app-o-ramas." The only time I apply for multiple cards now is under certain circumstances: a special offer (100K Chase BA, the current 30K Amex SPG, a no-fee card for decent points or an unlikely to be repeated offer, such as the CO OnePass last year for 50K on first purchase when the CO brand was clearly going away).

Once you follow the offers long enough, you know that there's a historical pattern. The Amex SPG, for instance, now has increased its offer to 30K in each of the last three years in August. Two lessons from that. 30K's the best you're likely to get. And if you're thinking about this card on August 1, why not wait a couple of weeks to see what happens?

Of course, you'll miss out on some good deals. But, I look at applying for credit cards as I look at "timing" the stock market: you won't always hit the peak or valley depending on what you're trying to do; you will, however, increase your chances of making efficient credit card applications because you'll get most of the best offers and you'll also get the offers that matter most to you.

I don't think it is bad. If that is all you want/need, then it is perfect. I am actually pretty conservative with cards myself, and have been known to just do one at times. That is the way that most of my family members obtain cards as well.

I think you are fine. Especially if you only feel confident with reaching smaller spends. Don't get too wrapped up in what the high rollers are doing. Do what you are comfortable with and what meets your needs. Although as you get more comfortable with this hobby your "needs" will probably increase :)

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I personally dont do app-o-rama's anymore, because I dont want 3 or 4 hits in a single month.

Instead, I typically apply for 1 CC every 3 to 4 months or so. Doing so allows me to spread the inquiries out over time, and across the different credit bureau's. So for instance, in Q1, I might apply for a CC that will pull EQ. 3 months later, another CC that uses TU, 3 months later, a CC that pulls EX. And finally at the end of the year, go back with a new CC pulling EQ... so in the course of a roughly 12 month period, I've picked up 4 cards, but only 1 or 2 pull's per bureau.

Since inquiries fall off after 2 years, and I'm constantly rotating, I typically only have between 4 to 5 hits on any particular credit report at a time. Except for a single Cap1 denial, I've never been denied in the other roughly 20 cards I've applied for over the last 3.5 years, and have maintained 730+ credit scores.

I like this method too because it allows me to generally get new great offers as they become available, without being stuck with multiple minimum spend requirements at a time.

I generally only do one card at a time myself. I kind of just wait for one good offer and go for it. I maybe applying for two before the end of the month but that's rare.

Also has to do with spend requirements most cards have. I'm younger and I don't have a huge cash flow right now. I don't want to have to stress out about making the spend on multiple cards. One I can focus on will be no problem. Two isn't that big of a deal, but any more and I think I'd be stressed and spending just to spend which is not my goal at all.

Now that my initial gorge is passed (12 cards in 2012) I am considering this approach also. The downside is there will always be 2-3 cards in the last six months opened if you have to haggle with reconsideration, but from a meet the spend perspective it is a lot cleaner (just use the latest card), which would work well with my wife.

The upside is that you probably won't box yourself out if a strike when the iron is hot opportunity posts.

Thanks everyone. I will continue the slow but sure method for credit card applications