Wait time before applying for credit card

[Bobby S.]

I read here that it does not look good on your credit report if you apply for more than 1 credit card in a certain period of time. I currently have a student visa with TD and was thinking about gettting a MC with my PC account because it has rewards. How long do I have to wait before applying?
Also, with little/no credit history wht are my chance of getting accepted, is it even worth applying?

[funky_monkey_99]

I read here that it does not look good on your credit report if you apply for more than 1 credit card in a certain period of time. I currently have a student visa with TD and was thinking about gettting a MC with my PC account because it has rewards. How long do I have to wait before applying?
Also, with little/no credit history wht are my chance of getting accepted, is it even worth applying?

i dunno what a good wait time is but i applied for the cibc visa in oct 2005 and got approved and 9 months later (this month) i applied for the PCMC and got approved for it as well. So I think the general rule is not more than 2 at a time or something and if you want to apply for more credit wait at least 6 months b4 trying again. I am currently 18 and a student fyi.

[ilfsoy]

Generally you should wait about 6mths before applying again, especially if applying for the same card you didn't get to begin with.

[Hellfire]

If you just turned 18 and are a student, you might as well apply for them all in one shot, you have no credit, but credit card companies still like giving you cards.

[tkyoshi]

If you just turned 18 and are a student, you might as well apply for them all in one shot, you have no credit, but credit card companies still like giving you cards.

Yup, and since you have no history, your score can't exactly go down anyway.

[D-Sisive]

i dunno

i applied for a 5k gold, then 5k gold elite, then 2.5k mc and all were approved and activated lol

shouldnt do what i did though, brings your credit rating down...but the first 5k gold i was like hmm gold card, i should get one since i only have a regular 5k visa...then the gold elite was used for the td nano promo, and the 2.5k mc was for the sony headphone promo + $20 worth of sony points...

i doubt i will be applying for any more cc for a while....until they start giving out good stuff again with it :D

[donit]

dont worry about it. I have tried applying two credit card within a week. They both get approved.

[Bobby S.]

Thanks for the advise everyone. :)

[eejikes]

IMO if you already have a decent credit rating it actually is better to make multiple applications around the same time. Multiple same period credit report enquiries have less of an impact on your score than many different enquiries spread out over time.

[Jucius Maximus]

There is no hard and fast limit here. I wouldn't be two worried about 2 CC applications at once unless you actually had bad credit. If you have a job and can show some sort of income, I wouldn't be worried about waiting for any period of time.

I actually have very good credit, and in a period of 3 months, I applied for 2 mortgages, 1 credit card (RBC Visa Gold) and overdraft protection on my PC Financial account. All were approved, though I did not actually accept all of them.

Though I don't plan to apply for any other kind of credit anytime within the next 6 months.

[angelove]

You don't get any offers from the banks to apply for a credit card? A few weeks ago, TD's website told me I qualified for a credit card - it was soo tempting! lmao But I didn't fill it out as my enemy is shopping online, I know I'll go into debt like my friend. =x That's my greatest fear because the interest rate is 20% so as a uni student you really don't want to have so much debt. I'll just leech onto my mom! XD

[blink]

I read here that it does not look good on your credit report if you apply for more than 1 credit card in a certain period of time. I currently have a student visa with TD and was thinking about gettting a MC with my PC account because it has rewards. How long do I have to wait before applying?
Also, with little/no credit history wht are my chance of getting accepted, is it even worth applying?

I'd apply after 6-12 months with your current credit card for the PCMC. I know many people who were initially denied without any credit history but approved after 6-12 months of using a new credit card.