Originally Posted by
DVDBob
So turns out I'm actually at 6/24 until June so going to have my P2 apply for a CIP card. I'm reading mixed timeframes for applying for subsequent cards. I've seen a 1/30 rule mentioned and also someone else recommending to wait 3 months. If it's truly 3 months between apps, why? Thanks in advance.
1/30 rule for business cards is a Chase rule.
The recommendations to wait 2-3 months between Chase apps is to keep your application "velocity" at a reasonable pace. People who quickly ramp up credit lines with multiple cards in quick succession can be viewed as riskier clients than those who obtain cards at a more measured rate. (I suspect this pattern of behavior is also prevalent in identity theft cases.)
The average American has 2.6 credits cards - total. Applying for six cards in six months makes you the rather obvious outlier, which is not where you want to be if your goal is to continue obtaining credit cards for sign-up bonuses.