How often can you apply for a credit card (safely)?

[@ProudMoney]

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[@docsays]

ya, i usually apply for 2-3 cards at one time then garden for about 9-12 mths then repeat.

[@123whatsYOURname]

This was my velocity to complete my cash back trifecta. I’m currently gardening.

[@docsays]

@@123whatsYOURname - cool. Ya im having a new house built, so im in the garden till sept

[@oarias5158]

I honestly was about to say something like this. I started learning about credit cards and the system 2 years ago. Got my first card 1 1/2 years ago with horrible credit and now I have a total of 8 cards with Amex Platinum. 😎📈

[@oarias5158]

@@josephlupo8969 use and pay it off every month. Never leave a balance and let it be don’t use only for very small transactions. 📈🔥🚀🐒

[@blkbeauti05]

@@josephlupo8969 A period of time where you DO NOT apply for any cards. This time is generally 6-24 months.

[@blkbeauti05]

I started my credit journey March of 2020. I now hold 5 cards (2 Secured). My FICO is 780. However, my credit age is 0.8 months. I am not going to apply for anything else for awhile.

[@kaseydrotar3473]

Your advice regarding the one card for a year is spot on. Been rebuilding for 3ish years & not only had my score improved, but that year, year and a half with one card gave (new) good financial habits a chance to take hold. Good lookin’ out!

[@SamSung-jv3jm]

You are right on the money. I got 4 credit cards my 1st year of rebuilding (Jan 2018) and kept adding till Sept 2020. I have 13 cards but they are all low limit credit cards. My highest limit is only $1500. Now that I have just over $11,000 in total available credit, I'm done applying for new cards for the next 2 yrs. I don't mind having lower limits because not only is it less risk for the banks, but also for me as I can't run up $4000 on 1 card and default like I did when I got my first round of cards in 2014.

[@tiffaniacarter2217]

New subscriber... working on rebuilding credit, up to 624 now and doing my research for when I’m ready. Thanks for the info!!

[@madmoni4262]

Before I discovered your channel, I applied for a Cap 1 Quicksilver, Costco Citi and Chase Prime card within two weeks (I was approved for all three) and my FICO dropped 5-10 points last month but it bouncing back this month. I had two cards with lower limits and I wanted to increase my overall limit and get some rewards. I am "gardening" for the next year and then want to try for a Chase Freedom or Flex.

[@kzigmant]

Capital one, along with many other lenders, will give you a credit limit increase once every 6 months, rather, every 183 days. On the 184th day, request an increase. So you can request an increase twice a year. Make sure at most, to keep you balance before 50%. However, it would be the most desirable to keep useable less than 30% before asking for an increase.

[@sakatherinejohnson]

Good point @monica. And great advise in wisdom @kris

[@homiedonthateg]

You are so right .. Now I am credit card gardening until spring because my first 2 years I went overboard

[@inawyawanahyasharahla8520]

so i guess i need to garden for the next SEVEN EIGHT years im only 15 months in my credit journey WITH 15 tradlines on personal with only a total of 27000 IN ALL 15 i f@cked up but my usage is only 4 percent nothin negative i just got 8 cards in two day time frame 2 weeks ago f@ck it i guess it just business credit for now

[@orlandorivera2283]

“Credit card gardening” I love that phrase. I want to be a credit card gardener.😂

[@cdog94544]

I was approved for my first credit card in august of last year for $300. 9 months later I now have 8 credit cards and over 36k in total credit and 1% utilization. My highest limit card is over 10k. I disagree with his conservative view and glad I went for as much credit as I could. I can now sit back and make my payments and watch my score increase as the age of my accounts increase.

[@JohnJohn-nt9mf]

I got 5 cards during my 1st year of credit history establishment. $34,000 overall limit.

[@jaylewis3616]

I got 16 including store card May 25 be a year

[@finickybits8055]

I took my time and only applied strategically. I’m beyond 10x that number, and still growing. 18 or 19 cards. YMMV.

[@jaylewis3616]

@@finickybits8055 My fico are in the 750 how long after you open a new card to wait to apply for another 6 or 12 months

[@finickybits8055]

@@jaylewis3616 I never went by time of last application...I dont open cards for the sake of opening cards. I'm either after the relationship, or the SUB. But if you need to put a number on it - in the last five years, I've never opened more than three cards in a year. 2016 I opened 1. 2018 I opened 2. Other years in that set I opened 3, and typically the third on opened was the one I cared least about whether I got approved.

[@I..cast..fireball]

@@finickybits8055 how do you find a use for 18? I have 6 with two more planned, then I'm done.

[@caviyavi]

I got my first credit card the capital one platinum for a $500 credit limit last august. Now a yr later today i just received my quicksilver with a $3000 credit limit. Patience is key.

[@coachdonnaj]

I think you’re spot on. I will be working this plan as a late bloomer to the credit card game.

[@bryantwhitis6446]

You're a great teacher I'm talking notes down in stone. This is so other people can't tell me different. A good teacher will always have a fact finding answer to the question. And you teacher blow their minds with the answers

[@XGenBoomer]

I just saw credit shufus score. Watch THAT video and it will explain a lot about the subject with his case example. In my opinion you need to let your credit breathe a bit. In my opinion, these card companies want swipes. They want you to spend through their cards while maintaining the barriers. So spend a little. Pay it off and then let it breathe. ✊🏿

[@kzigmant]

Either way, the very nature of Credit and to maintain a "healthy" score is to always be in debt. Even if you have a 790 Score, if you have no recent debt showing up on your Credit report as actively paying, or at the very least, within the last 90-180 days, a lender could deny you credit simply for not owing any money. Pay all your outstanding balances to $0 over the course of 90 days. You'll watch your score increase. Then after everything is $0, your score will start to go down. It won't look crappy bad, but enough to notice.

[@VIN-7567]

In the first 10 months of me being 18, I got 3 credit cards. One in March, one in April, and one in October. I now have $4700 in total credit. I’m going to wait a year before I get another card as my credit limit of recent new card was lower than first 2 cards

[@finickybits8055]

Slow and steady got me to 4x annual pay in credit limits. Tiny limits beget tiny limits. Big ones get more big ones.

[@zach7676]

That’s exactly how I feel. I recently got the CSP, CFU, and World of Hyatt, and not opening another one for at least 9 months

[@smurkio_otf]

I think it's smarter to get more cards early in credit history because of the following: 1. Your age will be well established the next time you apply for a new card. For example. If you have 1 card for 12 months and apply for a new one, then your age is cut in half to 6 months. However, if you have 4 accounts opened with a 12 month history and then apply for your 5th one, then you will have an average age of 9.6 months or 10 months instead. 2. You can graduate to a better version of the cards you applied for. 3. By doing a graduation/product change you can avoid having to get another inquiry for a new card and you can get your deposit back as well. This process can be done as early as 5-8 months, if not 12 months. (By process I mean that you can request to graduate as early as these time frames). 4. After graduating your current cards, you now have access to better rewards, redemption opportunities and you're still under the 5/24 rule if you want a nice chase card. 5. After or during the graduation you can get a credit line increase with no impact to your credit score automatically every 6 months or so unless the financial institution says otherwise like Chase for example which requires a hard inquiry. Aside from chase 99% of banks/lenders won't really require a hard pull to do a credit line increase. 6. You've established a good and healthy relationship with multiple banks/institutions so it'll be easier to approve or consider your next application with them since you're not someone random they haven't worked with before. Doesn't mean you have a less likelyhood of chance of approval, but having a solid relationship with different banks/institutions does make a difference and you'd be surprised what they'd be willing to do for you. These are just my thoughts and curious to see Adam's opinion on this one day. Hope it helps!

[@GBR9794]

Sound about right but I will have to see my score 6 months later since I started with no history and three cards within this month with a combined total of 5.5K CL.

[@TheFedExMan702]

Lots of good information. I did 9 cards in 3 months recently but I also have 16 years of history only having 2 cards during my credit history. I definitely made a lot of mistakes with selection but I was new to the points game. I wish I had taken my time as I’ve learned so much since.

[@treturner754]

My man just called out fake gurus lmao I had no idea people can rent grounded planes 🤣... Good video btw

[@huhsnare]

Bro I’m weak 😂😂😂😂

[@jamesalbright4666]

Yes, same as the sales people that can put you in a beautiful $300,000 Florida condo for a $100 for one week BUT after they pay the $100 they can’t seem to find the time to go. Catch 22.

[@TonyMoze]

Crazy and I love it

[@sakatherinejohnson1738]

i am glad picked your video. ive been trying to asking 1 question and credit experts think im trying to miss the whole point of credit building. im just trying to understand simple what time frame should i know when i can apply for another card. your video answered it right off the back. i appreciate the knowledge

[@callmeNeno]

Gardening until Q1 of 2022 don’t have any Chase cards. Currently I have 6 open accounts & 4 closed. Letting my credit age season a bit this year and strategize for two cards in 2022 2 cards application per year sounds good to me.

[@toothybj]

Thank you for these great videos! I can’t believe how much misinformation is out there. I was always told (and believed) that credit cards are BAD and it’s not good to open too many. So...i opened my first card at age 18/19 and really didn’t open any others until I was 30-ish. Even then, i still only had like 3 cards by the time I was a little older than that and started to learn how it all works. Now I’m definitely able to leverage it more and at least know what to expect, etc.

[@Javier_Jimenez71]

I like the idea of working with what you have for a couple of years before applying for another. Have to remember that we have to pay for what we use. Focus on the one and build great habits before taking on more potential debt/credit. Thanks for the video. Liked and Subscribed. Cheers 🥃

[@ProudMoney]

Thanks!

[@shojus]

I think it matters WHICH cards you get versus how many. If you apply at credit unions or banks that are more generous than you won't need to worry about low credit limits to begin with.

[@alexandervidallon6959]

yup navy fed 3 cards 44k gross income last year before tax sub 20k lmao

[@shojus]

@@alexandervidallon6959 WOW! That's crazy man! Congrats on those limits

[@na-cp9kp]

Learned a lot from this video. Hope to see more content like this!

[@mashmash7877]

I filed bankruptcy 7 years ago in Canada right away after filing I got a credit card kept it in good standing and was also able to keep my truck financing long as I made the payments. Once that bankruptcy came off my credit report my credit score skyrocketed and I was able to open 8 more high credit limit cards within 4 months

[@veteran31pb]

I was recently denied for an increase from capital one. One of reasons they said was cuz my credit score was to low. Maybe i need to keep rebuilding

[@inawyawanahyasharahla8520]

let capital one increase on they on they hard pull

[@amarigrant]

Solid advice as always my friend...I agree. Great vid

[@daneo617]

I'm in my first 2 yrs of building credit (started w) a 530 score) & I've opened 28 different accounts and have over a 700 score 🤷🏼‍♂️ 1 account just hit 3yrs 😆 figured I'd take the hits early & after 2 yrs I'll be in really good shape, waiting for Chase 3/24 next 👍🏼✌🏼

[@joammami520]

Oh wow, how did you not get declined? My first discover card is almost a year old, I applied for my second one (through chase) and got approved, and 3 months later I applied for the Amazon credit card and got declined. I had a 716 prior to applying for the Amazon card too

[@joammami520]

The chase one I applied for about 6 months after my first credit card

[@daneo617]

@@joammami520 I don't know, sometimes I did but Amazon gave me their store card. 🤷🏼‍♂️

[@aliawells]

Haha high roller and renting jets. Thats hilarious. Patients is key!!

[@aliawells]

Agreed on the 6 month rule. Sometimes even a year

[@Anthonyjones-pq4ff]

Morning Adam love your channel I’m at a 731 so how often should I apply for a card just apply CO1 Savor low start but have to start somewhere next is Second Amex for Groceries & Gas don’t have preference So how long before I can get either one . Love ur video on CO1

[@emmapeel4299]

Interesting you mentioned this topic. It was your original video that had me re-evaluate if I should pay more attention and use strategy. Every 6 months minimum for me or more. I just garden in between and it also helps achieve any intro bonuses offered by which card I choose. Thanks for 2021 update. This will be super important going forward with the economy IMHO. Unless gov’t really decides to depart from credit bureaus.

[@gtocool99]

I agree on your mindset of starting slow for a first time credit card owner because you need to build good financial habits.

[@alejandrocolunga3209]

Thank for your hardwork! Your channel is great!

[@ammooth1592]

Feeling that now with capital one 💯. Low limits, on the 4 I applied in 19.

[@davewhite756]

Think of it as the opportunity of forced budgeting

[@ammooth1592]

@@davewhite756 Thats 1 way ✔

[@darkshogun5887]

I've had a CO Platinum since Oct 2021. I just applied for and got a Discover It card. My CO card has a 27.xx% interest rate and my Discover It card has 17.xx%. Between Oct 2021 and May 2022 my credit either got a lot better or they use different credit bureau's for their FICO scores. I think I'll wait about 12 - 14 months and then apply for a new card and retire my CO Platinum. Since credit card companies, in general, like to put you in a bucket I doubt I can get a better interest rate on my CO Platinum card plus it doesn't have any benefits or rewards.

[@StarFruit37]

My advice for you do not close your first credit card it can hurt your credit score because they did count of credit ages. I just upgrade my CO pletinum to Quicksilver just give it a call to them and upgrade easily.

[@darkshogun5887]

@@StarFruit37 Out of my 5 cards the CO Platinum is next to newest. In order of oldest to newest, Walmart Store Card, Amazon Store Card, Best Buy Store Card, CO Platinum CC, Discover CC.

[@Bharlos]

Wouldn't cancel it, as it would lower your credit (credit history and overall limit) maybe think of upgrading to one of their other cards, or call them up and ask for a lower interest rate. Better to keep it and use it once every blue moon then to just get rid of it completely

[@darkshogun5887]

Well, looks like they liked that I'm a good customer because they proactively offered to upgrade me to the Venture One or Quick Silver card. I chose the Venture One so now I actually get rewards. 🙂

[@Adiscretefirm]

Interest rate doesn't matter, pay it all every month for best results.

[@maliisadrable5994]

My goals this year credit card wise is to get citi double and a chase card probably cfu. Aint applied for a cc in a year so I'll be up 2 4 cards if I'm successful.

[@-Jason-L]

I think you're making assumptions on what you BELIEVE the bank/issuer is thinking. There's no reason to wait, other than if your dead set on getting a few chase cards (5/24) in the first 2 years. Get 3 up front, all at the same time. Try to have them pull from different bureaus. Whatever one's you can get. A minimum of 3 gives the best fico boost. 6 months later, keeping your utilization rate very low, you should be able to get a much better card with a much better limit. Those first 3 are just for your fico, to open up doors 6 months later.

[@P.I.P.E.L.I.N.E_Podcast]

Often enough to stay under 5/24😅 I HATE THAT CHASE RULE😡

[@amirmoradi9595]

That only really matters if you think you're gonna apply for a chase card anytime soon

[@YasselAlvarez33157]

My goal is to have 3-4 with decent limits and history.

[@WestonSimonis]

My first credit card had a small limit so I got my second one just short of a year. Then waited it out for about a year and 3 months. Just picked up another yestereday. In that time I bought a new truck because I fixed my credit with those two credit cards. Now on to the business ones.

[@rickyg152]

I did mine a bit fast, lol. Got the platinum with no security deposit 1k 3 months later. Walmart card, then 2 months later, quick silver. Should have watched your video first 😮‍💨

[@yusefinc1096]

Same…lol. Cap One Platinum $1k, Walmart Cap One MC $500, then a Quicksilver $1k…started my rebuild in March 2022. Also have a secured Discover $500.

[@RubySapior]

My goal is to get a credit card for every category at 3% or better in rewards/cashback :P

[@NathanDuong2023]

Thanks!

[@ProudMoney]

Hey, I appreciate that tip! Thanks so much for watching, hope the videos have been helpful!

[@michaelreid8857]

An application every four months equals three cards a year. No terribly bad, if you can go from zero to hero in five or six months starting with zero credit. Once established with a decent FICO most people can easily handle three new cards per year!

[@NathanDuong2023]

Thank you. Love all your videos. A bunch of appreciation!!

[@mitchell.9632]

Personally I would invert year zero and one. In year one, go after something that has a year bonus match or the like to make good use of the added third card. Another part of that is if you have the oldest card and it ends up closing then oldest account will shorten plus the average age of accounts will be longer if you go with *two to start, one a year latter and two for the rest of the years.* Good discussion Adam; has it been years since the last version of this video?

[@MrsJuanita067]

My credit score is 780 getting to that 800

[@floridaman964]

Me too

[@Candikanelane]

Love this video. You are so right about a lot here.

[@kzigmant]

Good advice. Also, even if you did get approved for another card or two within a year, especially with small credit limits, you're more likely to have those limits pretty much maxed and can create an issue with high utilization, which can then lead to getting turned down by future potential lenders. Waiting a year after your first card is a great idea. Why screw yourself early in the game? It'll set yourself up for one denial after another. Lenders you apply with in the future will now see all the inquiries that you have and you may be considered more high risk than you already are. If I was a lender, I wouldn't want to provide credit to someone with several inquiries and high balances.

[@javiermontes8285]

Awesome video!!! I need this video thank you very much!!

[@gerardoaraisa4082]

On question does having a regular Macys credit card counts for my credit history?

[@ProudMoney]

yes

[@shay9993]

Great video Adam, have you ever consider doing a review on HSBC cards?

[@ProudMoney]

hsbc is largely pulling out of u.s., not sure if cards will be around much longer or sold to different issuer

[@luxurybuzz3681]

HSBC is a Chinese company that funds Latin American gangs. No thanks Jeff

[@newsnowadirondacksredux360]

Good advice man!

[@Tulku]

Hi Adam, been watching a while and with your help I've made some great improvements in my credit score and managing credit overall. I'd like to know when it's considered beneficial to freeze your credit and maybe when it's better not to. Will it prevent credit line increases on existing cards? Thanks so much for the helpful videos.

[@infernogreg8735]

I'm relatively new to building credit and I just got my second card, do you think just riding these 2 for the 1st year is good? One is the capital one secured platinum and the other is the capital on platinum visa that has the yearly fee

[@harryallenpearce89]

This is my favorite KZbin channel as of late. Btw, a derogatory mark went off my credit, Equifax shot up to 750. Still, I’m waiting until June before I consider applying for the WF Propel again.

[@Dachamp2001]

I have 2 cards I got 3yrs ago too build my credit but the lines are real low and pretty much maxed I want to cancel them but I just got 2 new ones and the credit lines are respectable. But I want to get another 😫 with a much higher line. I have a 3rd one but it's a Furniture store card and it's only good for that store 🤷‍♂️

[@richv1893]

Adam what are your thoughts on closing out multiple cards over a year.

[@waqarinnit]

It's gonna hurt your score a lottttt

[@ProudMoney]

All depends on your other credit history, especially how much of your available credit you are getting rid of. but in general i think closing a card is not nearly as big of a deal as some people think

[@izzyc.4746]

Love your videos just subscribed 💯💯keep them coming

[@aaZhan]

Very informative! Thanks!

[@Julian-The-Hollow]

Does this also apply if I’ve had the chime credit builder card for 3 months and it’s my first credit card?

[@inawyawanahyasharahla8520]

yes the credit builder counts as a credit card you have 1 more this year i say get citi or discover cause they will give you a soft pull for credit limit increase if done on app or online

[@georgebush1885]

Got my first credit card (secured card with $200 limit), Got my second card 5 months later (1k limit), and my third came 2 months after that (2k limit) at age 19

[@67spankadelik]

I would think you should wait until you start receiving pre-qualified offers in the mail.

[@davoyounginpoojacc4648]

No

[@masterpx738]

No really, 98% of the time those offers are trash

[@thetechlibrarian]

I do like to use the prequalified tools on there websites.

[@chrisclapp8323]

There's one more reason to get more cards right away. If you just went bankrupt and are looking to get a VA home loan as soon as you can then you have 2 years to rebuild credit. I read that they want to see 3 tradelines and one type of installment loan for 2 years of rebuild history. This is what I heard from a housing lending bank.

[@dontdoxmebro]

Sounds like you’re talking to a sub prime lender. Most credit unions or large banks don’t even require a credit history they simply look at you’re history with them, and your debit-to-income ratio. I recommend getting a mortgage at a credit union you have a history of banking with. Obviously if you have bad credit showing you never pay anything they’ll tel you to pound sand

[@kellyaustin7487]

What is a decent credit limit on a credit card for fair credit? Is $500 - $1000 more or less of a good expectation? Thank you for the help

[@DWRants]

You have really good content. I

[@jessicaky]

I started with a secured card. My first score EVER was 678. I thought that was a good start but six months went by and I was still in the 680s. My score was increasing 1 point a month. I was paying on time and stayed under 10% utilization. My credit limit was just too small. I applied for a second card and my score jumped 28 points. My credit limit has tripled and it looks like I'm going to get 1 point a week if the current trend holds. I'm now in the 700s. I have good credit. It's great. I don't see myself holding off for another year before applying for another card. But I will hold off at least 6 months. My oldest card will be a year old by that time. Thanks for the advice.

[@magdat6551]

If you don’t mind what bank did you open your secured card with?

[@jessicaky]

@@magdat6551 Capitol One

[@inawyawanahyasharahla8520]

@@jessicaky yea building credit from nothing at all to something in a year 720 easy im at the 15 month mark

[@johilenmeran2218]

What if my first card is a secure card when do i get the second one?

[@oklahomafreedom5536]

Adam, can you please make a video about what Biden wants to do with the new credit system deal. So we can understand it better. Thanks and much love 💞

[@ProudMoney]

haven't much looked at it, will see what the deal is

[@c50grand2]

I would love to see a KZbin video like this, as well.

[@ProudMoney]

coming soon...

[@c50grand2]

@@ProudMoney You are the BEST! Thank you for all that you do!

[@Hotstreamtv]

Love your videos you’re the 🐐

[@kirabutler7985]

You did a recent video on top 5 cards and their approval, do you know which video it was? It explained AMEX and some others.

[@NathanDuong2023]

Well put, agree!

[@saltpepper1894]

since i have no credit (not bad credit) i got a discover IT secured card 5 months ago, using card correctly to build credit from nothing....since banks think theres no risk concerning secured cards should i get one more secured card now from diff bank to build credit faster?

[@multimeter2859]

What's your score now?

[@saltpepper1894]

@@multimeter2859 dunno. havnt checked since i got secured card. i wonder if score jumps a lot with it? idk

[@multimeter2859]

@@saltpepper1894 I would check it, especially since you're coming up to 6 months of on time payments with your secured card. Idk if discover does it, but I think some banks will automatically refund your security deposit and upgrade you to an unsecured card after 6 months of on time payments. This is why I like Navy Federal.

[@saltpepper1894]

@@multimeter2859 i have heard dicover does graduate after about 8 months. They have emailed me about returning $ sometime in future. Mentioned there will be evaluation / consideration how they will continue but nothing specific yet

[@multimeter2859]

@@saltpepper1894 That's great man. If they're comfortable moving you to an unsecured, I don't think you'd need to get a second secured. It will depend on your score and history though.

[@wbaiey0]

Another great one. Thank you

[@CharlesINTEL]

Great video! Q. If rebuillding credit, is it a good idea to close a lower tier account (wait until it reflects close on the CRA report) prior to attempting to apply for an example a Chase account due to their 5/24 rule?

[@paulfelkner6749]

5/24 rule is only affected by credit card applications, no being on other accounts.

[@yusefinc1096]

If you opened the account…it still applies to the 5/24 rule.

[@davewhite756]

I got to many cards in the first 2 years, now I’m getting 1 new card every 5 months so I’ll be perpetually under 5/24, and the new card has to get higher cash back than I’m already getting.

[@kzigmant]

Why have so many cards? Let your current cards age. I'd rather have 10-15 cards with generous limits, then 20-30 with a low to fair limits. To many cards to balance and juggle around.

[@cab9191]

Any idea when the 10x deal at gas stations and supermarkets ends for the Amex platinum?

[@Stonks93]

I’m still in year 1 and just got my third card. Oops

[@amandaschwartz1]

Just got my 5th

[@amandaschwartz1]

With a mortgage inquiry

[@numbone]

19 months ago I got my first credit card. Now I have 8 cards!

[@masterfox3539]

😮 8 cards in 19 months ?

[@tequisaholloway1738]

Omg

[@numbone]

@@tequisaholloway1738 9 now as I just got my second Discover card

[@jackspalden5143]

Whoa nice, congrats! In order, which cards and limits did you get approved for? Any denials? 😇

[@jamespruitt68]

You are right

[@danielmurphy8218]

Always great videos Adam, what if you've been an AU on your spouses multiple account for 2 years then you try and apply for 2 in a few months? would you still class that as your first card or does your time as an AU count?

[@ProudMoney]

as long as you remain an au, i think it counts but it is not the same as having an account in your own name. but maybe it lets you go for that second card a little quicker, especially if one of the cards is from the same issuer where you are already an au

[@edgardorodriguez]

It will depend I applied monthly for 4 month got approved but you know is not Chase 😂

[@franciscomerino5586]

Hey Adam, I’m just stopping by to let you know you are the very best at this! Even though I’ve only seen handful of KZbinrs that do this type of videos and all of them are really good, but you my friend, you’re at the very top and I appreciate your advice and experience very, very much. I don’t know if you ever going to see this comment, but if you do, what can you tell us about closing credit card accounts in good stands? Maybe you already talked about this in another video? I’m going to look in you channel, if you haven’t, is there a proper way to close a credit card account? Should I keep it open just because is one of my oldest account?… Thank you brother, many blessings to you from West Palm Beach , FL.

[@ProudMoney]

Thanks so much. Yes I have talked in the past about closing credit cards and when it makes sense. Mostly it comes down to length of credit history and how many other accounts you have open.

[@franciscomerino5586]

@@ProudMoney Thank you Adam, I will look for you video on this matter. I was at lunch, watching a couple of your videos/tutorials! Thanks again brother 🙏🏽🤙🏽🤙🏽

[@janieroc965]

What credit cards do you feel are good when you have a credit line at under 600

[@profitlemon321]

Mostly A secured card I started with capital one got approved for my first credit only thing is if you want a better credit line on your first actual credit you should put an extra cash down because the bank will try to match that if not only double what your credit secure line is…

[@cdog94544]

It depends why your score is that low. Do you have negatives or just no history. If you have negatives, address those first.

[@caviyavi]

@@profitlemon321 Exactly!!!!

[@saltpepper1894]

how would this bad economy with very low interest rates (money is real cheap for banks to borrow now) affect their decisions about this topic?

[@zacharydingo]

Good points, thank you

[@cliffcothran]

I agree

[@jamesmoore8873]

If I just got the capital one quicksilver card at the beginning of this month and I want to get into the Chase family and after July I’ll be the 2/24 rule when should I apply for my first Chase card

[@xavierrowland157]

I got my first Chase card three months after getting my first card(secured). Having an account with them will up your approval odds I believe. It has been six months since I got my first Chase card, and I was able to get approved for the Sapphire preferred this week. I would say go for it in July, but I couldn't tell you for sure.

[@LeonardoDiax24]

@@xavierrowland157 what was your first chase card and how many months after the first chase card did you apply for the sapphire preferred?

[@xavierrowland157]

@@LeonardoDiax24 it was the freedom flex. I got that about six months before my sapphire

[@zyzzyz7035]

Good analysis.

[@pokeyjourneys3984]

The credit card I have now is the store credit from Victoria's secret I don't have that credit for almost more than 3 years now I always pay my bills on time Is it time to open a new credit card My credit limit is $1250

[@chillz44divorcingyoustalke93]

Yes… open a new card… store cards hold weight but not as much as discover or citi etc….

[@jasonc1996]

@@mike-uw6wt He applied for Home Depot

[@hansobermann4871]

Thanks for competent info

[@ProudMoney]

i like being called competent 🙂

[@jamesmoore8873]

@@ProudMoney If I just got the capital one quicksilver card at the beginning of this month and I want to get into the Chase family and after July I’ll be the 2/24 when should I apply for my first Chase card

[@SEEKANDSTREAM]

i apply for a new credit card every year

[@sangove1]

If you apply through a 3rd party, such as credit karma, they may send your ap to each credit card company and EACH checks your credit! mortgages are the same way, except with mortgages you can check unlimited with 14 days, doesnt hurt credit....supposedly. I have 18 checks on my report, no way did i apply 18 times! its from each CC pulling a report, each one!

[@ProudMoney]

those should be soft pulls that don't hurt your credit score unless you actually say that you want to apply.

[@sangove1]

@@ProudMoney idk shows 18 on my report

[@oohwhathappened]

You must’ve clicked something that indicated you authorized those companies to do a hard pull if it’s appearing. If you didn’t authorize it then dispute them all, but don’t go clicking through Credit Karma at those offers so easily as they gain commission from you potentially using those companies they list.

[@sangove1]

@@oohwhathappened yep, fine print says you agree to it. nobody reads that crap. lesson learned. i think i should dispute them all anyways. it says its not a big impact, but im tellin ya it shows to the creditors! i already had to explain to a mortgage lender, thats a whole story. they say USDA loans are for low income, but nobody wants to touch low income people. its bs. im so sad. :(

[@zimvader25]

Man i dont mean to laugh at anyone but yeah lol that's not on creditkarma, they don't do "one for all" on anything, much less credit cards. They give chances for approval on cards and specifically tell you it's up to the individual creditor to approve you if you do follow through with applying. You can only get the "multiple lenders" option on loans and all of those offers are from soft pulls, unless you specifically agree to a certain lending bank to doing a hard pull to finish the loan application.

[@ccb6013]

I'm in an usual position where my Experian is high 700's, but my oldest credit card is less than two months....wondering if I still need to wait the full year 🤔

[@princesskkay221]

You should wait. The reason why your score is 700 is just bc you didn’t have any credit up until 2 months ago, but 2 months is not enough to show credit card companies that you can be responsible with credit. They don’t just look at your score, they look at your credit report as a whole and only having the card for 2 months you barely have 1 payment under your belt.

[@MicrowavedTurtle]

Wait for sure I've had my first ever credit card being the chase freedom unlimited for 8months with a 4500 credit line and recently tried to apply for the chase freedom flex and got denied because of credit history. Best thing might just be waiting for at least 1 year before applying for a new card. My credit score was 750

[@garrymyers8459]

Great video. All very true. My push back to your push back..... I'm maximizing points not concerned with credit limits. Have a nice bank account. Having said that you and your channel got me to 760 in just under 2 years. But it was not with any 1 card approach. If a person couldnt manage $ that well then maybe 1 card. Thanks Adam ur the best

[@ProudMoney]

Well, when you find something that works for you, keep doing it.

[@douglasblack6446]

So I’m new to the credit game- (one year in) score is 700. I applied for my second card which I thought was a good fit, and was immediately rejected. I then applied the same day for the “apple credit card” and was also rejected. According to apple it appeared that I would only receive a “hard inquiry” upon accepting the card after approval. Did I mess up???? I realize I shouldn’t have applied to that many in such short time.

[@VMelndz]

You’re good as far as the Apple inquiry. I’ve done the same

[@msgenie5]

I just got an email about a X1 card. Anyone heard anything about this card?🧐

[@matsigh]

It exists?

[@msgenie5]

I received a email regarding a wait list and that 12 mil capital was raised 🧐