Is it smart to get multiple credit cards at once

[BrothaZay]

I just got approved for a discover card with a 4500$ limit

Someone told me to immediately apply for some other ones to get approved

Is this smart

 

[hatealot]

Spend about 450 dollars on that card to establish a ratio and then try your luck requesting higher.
Also make sure you have 10k in cash so when they run a cash to credit ratio you above 1.5 or hitting 2.0

 

[Bubba T]

Don’t you have a credit score of nikka please

 

[BrothaZay]

Don’t you have a credit score of nikka please

I'm in the 720s

 

[Willie]

Stay under 30% utilization. On paper this makes you look more credit worthy in the future as well.

 

[Osmar]

it depends on what card you're trying to get.

It won't hurt your credit card in the long run if you pay everything on time and keep a low balance.

 

[Hersh]

yeah if u only have 1 u should attempt to get a 2nd because it uses the same credit pull..
.....

pay statement in full by due date.. rinse and repeat with all cards. maximize benefits

 

[Will Ross]

It can be if your are good with credit can be horrible if you are not

 

[Bubba T]

I'm in the 720s

I could of swore you made a thread recently saying your score was in the 500s

 

[Kal-El]

The last 5 years I've taking out about 7 different loans and 4 credit cards. Paid back 4 loans, only use 1 credit card and my credit score is through the roof


Work as a teacher. Salary is 4K a month

 

[UberEatsDriver]

I just got approved for a discover card with a 4500$ limit

Someone told me to immediately apply for some other ones to get approved

Is this smart

What’s your credit score like? If it’s low I wouldn’t get another one right away because of the interest rate. Do good with that card build your credit and then test your options with good rates

 

[Solano707]

nah not at once, each application you put in puts a hard inquiry on your credit report which is a negative... space it out over time

 

[Ayo]

Spend about 450 dollars on that card to establish a ratio and then try your luck requesting higher.
Also make sure you have 10k in cash so when they run a cash to credit ratio you above 1.5 or hitting 2.0

Huh?

How are they supposed to know how much cash you have? They don't have access to your bank accounts and you're the one who declares how much money you make yearly.

Unless you're talking about a secured credit card.

 

[Icantspell]

yes because they will all drop at the same time from your report.

 

[old pig]

supposedly it does help to have multiple credit cards according to credit karma...I have 10 and each one is used to pay a low monthly/recurring bill so that it’s always in use...and each card is paid off monthly before the due date