Wait 30 days between credit card applications?

I just opened a credit card new credit card (Chase Cash Rewards) but want another one to boost my credit score. Would it be better to apply for another card now, or wait 30 days or so to apply for another one?

I have a credit score of 730. Only accounts I have are one $1000 limit visa and a $500 store card.


I won't be applying for any loans for at least 6 months. So my credit score will not be very important. Will opening another help or hinder my score six months from now after great payment history and no balances. (I never pay interest!)

4 Answers

  • 9 years ago
    Favorite Answer

    I opened two credit cards within a 6 months period and it wiped out my score.

    Don't do it.

    One was a chase freedom $100 check, and an amex $100.

    I just checked my score in Quizzle, and total disaster compared to before.

    New credit reduces a score for the first 6 months.

    I think (not sure) that if you open multiple credit cards at one time, it raises a red flag.

    The darn score is a huge mistery.

    Use your cards for a full 6 months and pay in full.

    Not the minimum, not more than the minimum but in full.

    Charge small things like food or gas.


    The damage from the two cards was 72 points !

    This is from a score of over 800 - no changes anywhere else. None.

    One card will dip the score about 15 to 20 points - not bad. But two...

    So yes, its a drastic dip.

    I'm not worried about future loans.

    I'm worried about car insurance rates, home insurance rates, employers checking, etc.

    Last thing I want is to pay more for car insurance.

  • 9 years ago

    You'd be better off to wait at least several months before applying for another card. Too many credit card applications too close together will take a big bite out of your score and you are likely to get denied. It looks like you are trying to over extend yourself by applying for too many new lines of credit.

    It isn't the number of cards that "boosts" your score. It's the good payment history. You have to actually use the card on a regular basis for it to do anything to build your score. Use your existing cards for regular purchases, wait for the statement and pay the balances in full every month. That will build your credit and avoid interest.

    Source(s): BD
  • 9 years ago

    Opening another card in 30 days isn't going to boost your score or help it. If anything, it will lower it due to the inquiry. Also, you don't need another card. USE the card you just qualified for to boost your score.

    Getting your score to rise takes time, not amassing as much plastic as you can.

  • Anonymous
    9 years ago

    Wait at least SIX months.

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