We recommend waiting for about one year between credit card applications, especially considering that your current credit score is 600+. This way you will considerably improve your chances of getting approved. Applying for a credit card can lead to a slight dip in your credit score, especially when you apply repeatedly within a short period of time. Each application signifies that you will have less money to pay for every additional credit card or loan you get. And that’s a bad thing from a lender’s perspective. More importantly, applying in bulk tells lenders that you are desperate to borrow, which doesn’t bode well for your ability to pay.
There is an exception though: if you achieve excellent credit, a high income and a record of on-time payments you will have a good chance of getting approved even if you apply more often. That’s because lenders see a low risk of you defaulting on future payments.
Remember that you can always track your credit score for free on WalletHub. Plus, you will constantly get credit improvement tips. You can sign up here.
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