Of course, I would wholeheartedly agree about developing a relationship with the credit manager. However, while they can make exceptions to the rules, that does not mean that rules do not exist. Drbond's post seemed to imply that there was a standard 60 day rule.

Again, I understand that these things are fluid and complex, but it would be useful to know the rules that exceptions are being made from.

I roll with these rules:

BofA: 30 days
Chase: 45 days
Citi: 60 days

They work for me! They may not work for you! I have been informed that what works for me may ruin another person's credit rating, so please take caution!

From my conversations with "credit managers" they are more concerned with the total credit limit....not the amount of cards issued. When my limit got too high they just split the credit line from one card and issued me a new card. Still, I got the bonus sign up points for the new card.

Ok, lets try to put this to rest:
1. No credit card issuer will approve an application from the same party within 30 days of the approval or decline of a prior application.
2. Some cc issuers will not a accept an application from a declined applicant up to 6 months out.
3. Different banks different rules 30-180. YMMV
4. You can be declined under this clause "Excessive Inquiries" and the computer set is 3 inquiries within 6 months. There are exceptions that will NOT be disclosed. One that can be disclosed is mortgage and car purchase inquiries can be excepted if documented.
5. You can also be declined under this clause "Too Many Recent Accounts".
I space my applications out by 60 days to avoid triggering a decline. I of course no how to get a reconsideration but that is a LONG story. You have stated your particulars vaguely and the way you stated your information. You could be declined on your next application or your third application, but you will ruin your credit based on your stated score and will then be jeopardized in the future.

I really do hope this statement puts this to bed once and for all. Please everyone be kind or just ignore the posts on this thread. Thanks.

Thanks for your assertive post on this. One more questions if I dare...

The number here relates to the number you used above.

1. Does this also apply to business vs. personal cards at the same bank? or are they considered to be different issuers?

And, do all of the things you stated up there apply to business cards in the same manner?

Thanks.

As far as 1-3 business card departments and personal card departments are seperate at some banks, such as BofA and Amex and Citi. Many other banks they are the same department, you have to ask them.
As far as the rest, an inquiry is an inquiry regardless of the type of credit you are applying for. It is still your SSN and it hits your CBR.

This thread has taken a real turn for the nasty. In the last several hours it seems to have returned to proper course.

(1) I'm not going to go through and edit out anyone's posts. Members on this thread will just have to lvie with what they've written.

(2) Everyone, for the good of the community (and shared knowledge, and preserving one's posting privileges), needs to continue this trend of staying on topic in a civil fashion.

Any further deviations will be dealt with per Flyertalk's Guidelines and Rules, and all members having posted in this thread and posting again are hereby put on notice of this.

Thanks!
Gary
aka gleff
Senior Moderator

I churn cards with Citi AAdvanatge for the past couple of months...Here is what happened...

I applied to the AA 25th anniversary in May and got approved...then a better offer came along, I applied, got rejected and was told it was an "internal" issue" -- 60 day crap.

Anyway, I did not apply for another card till August...approved...

Now that is two cards from May-Aug -- Just for fun, I did it on online...I now have gone thru 2 cards from Aug-Oct and have another one in the pipeline...just got approved a few days ago...so that it makes it 3 cards from Aug-Oct and will apply for another one in 7-10days as I close the current one tomorow.

so, the 30/60 day rule is not steadfast since I keep consolidating the credit lines into the Chairman Card so, I do not keep the accts open for more than a month....

Maybe this is because of the consolidation .....

Thanks for very informative post. The statement above sounds scary I'm newbie here, so please ignore this post if I' asking inappropriate questions.

As I understand - recent "hard pulls" are inquires made within past 6 month.
As far as I can say looking at my credit history, at least all CC inquires should disappear from the record after 2 years.

So by saying "you will ruin your credit ... and will then be jeopardized in the future" did you mean that it would be almost impossible to get credit for 6 month and some problems may occur for the next 2 years?

correct

Is this how long closed accounts stay on your report? (2 years)

closed accounts can stay for up to 7 years

No, it's how long inquiries stay on your report. Closed accounts can stay on your credit report indefinitely. I still have the original card I signed up for 20 years ago showing up.

Is having lots of closed accounts considered to be a strike against you?

much longer than 7 years
 

I have one that was opened in 1987 and still on my report despite last activity/closed in 1994. Though Experian shows a schedule when certain cards are scheduled to drop off from the report - looks to me they use 10 years as cut-off.

The 7 years seems to be used for blemishes - a friend had a couple late payments on her student loan and the blemishes stayed on her report for 7 long years despite the loan was since paid off.