Originally Posted by
JonnyB20
About a month ago, I stumbled across the points/mile game. After reading only a few blogs I started to apply for various ccs. Without really understanding what I was doing, I had 9 new credit cards (10 cards if we count the Capital One Venture I had obtained a couple months earlier) with 11 applications (2 of the apps were rejected due to applying for identical cards).
Of course, my credit score dropped. Last time I checked I had a score with the following: Experian 748, Equifax 767, and Transunion 734.
One reason for the flurry of apps is that presently I can meet the minimums due to large purchases coming up in April/May/June.
I had decided to stop to allow my credit score to recover. However, we are expats that will be traveling back to North America this summer with some overseas friends. I would really like to have these friends travel with us to some places in the states. Unfortunately I didn't realize Southwest traveled out of my homebase city so I basically ignored Southwest. But due to Airtran merger, they fly out of our little city and for cheap (miles wise)! Now I would love to get a hold of the Southwest Business and Southwest personal cards in order to freely travel with my friends (and try to obtain the companion pass). It appears that this will be the only time that these dear friends will be with us in the States.
Right now I have one Chase card, the Sapphire Preferred, that I just picked up and have yet to use.
So my question is - Am I crazy to consider applying for another Chase card let alone 2 more cards?
In my fall AOR I got 2 Chase cards at once: CSP and Priority Club. I had gotten a SW card 6 months prior and already had an Amazon card. Since you just got the CSP, I think you have to wait at least 31 days to apply for another Chase card, but you can apply for personal and business together.
Also, they don't always pull EX. I live in PA and everyone pulls TU except Amex, which really sucks because almost all my inquiries pile up on one report.
Inquiries do not fall off after 6 months - they come off after 2 years, but their impact lessens with time, so they will be less of a factor in the algorithm in 6 months.