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I’m kinda into Bluey’s mom.
100 members- whoo-hoo!
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Best cards in Canada for points?
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I average a new card every month. Credit score still in high 700s.
6 months is way too long - apply as frequently as you feel comfortable unless you have a big ticket purchase coming up requiring financing (car, mortgage, etc) in which case stop applying for ~6 months.
Inquiries only stay in your credit report for 2 years and Barclays and Chase are the most credit sensitive and have credit card (note not application) restrictions of 5/24 and 6/24. On top of that most banks won’t issue you a new card 30-60 days from when you receive a card so once every 1-2 months is what I follow.
I’ve been getting a new card every 4-6 months and then canceling after receiving the bonus. I have 3 cards that I always maintain (long history and highest credit limit)
I have heard data points of Amex clawing back sign up bonuses if the card is cancelled too soon.
Oh wow 1-2mo is a lot shorter than I thought. That’s doable, I’d like to get more into churning once back to traveling again.
So the hard inquiries and drop in credit score (albeit a small) won’t do much damage for future applications? I was thinking the bank flags those with multiple applications and new lines of credit open within months of each other.
Assuming history of excellent credit, low utilization, on time payments, etc.
I apply for 2-3 at a time. All hits your credit the same day so they don’t see the HP