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Applying for
Multiple Credit Cards
Did you realize that while
you may want to apply for several credit cards to have enough credit for
business or personal use, that doing so can actually harm your chances
of being approved for any of those credit cards?
When you suddenly apply for
numerous credit cards within a short period of time, this would raise
flags when each company does their own credit cards, because each of those
inquiries by credit card companies (along with any credit card approvals
and your current balance and credit limit) would show up on your credit
report. This means that any credit card provider after the first one you
apply for will become suspicious when they see you applying for more than
one card at once.
If you have the need for more
than one card within a short period of time, you will need to plan in
advance and spread them out. If credit availability is an issue, first
apply for the card you think will give you the greatest credit limit.
After a few charge and payment periods (preferably paying more than the
minimum payment each time, and best if you pay all or most of the balance)
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