Originally Posted by
TexasTea
Originally Posted by
pickles1107
What is the risk in applying for all the cards? Is it the credit hit that I might take with all of the inquiries?
It's not so much the credit hit as it is the willingness of the bank to open up 3 to 4 new lines of credit (risk) with your seemingly low credit history.
Exactly. From your original post, it seems that you've only ever had three cards. We do not know the credit limits on those cards; they may be very high (which is good for new applications, shows banks that you can handle large amounts of credit), or they may not be so high. I'd imagine that your first credit card wouldn't come with too high of a limit.
If you've only ever had three cards, it would be hard for a lender to approve you for three new cards, doubling or more than doubling your available credit overnight. They will want to see how you handle that credit first.
The credit pulls aren't so much of a big deal, but you don't want to be denied and have your credit pulled for no reason.