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Just opened new credit card. How long should I wait before I apply for another credit card?
I just applied for a new credit card through CreditKarma and was accepted. I would like to open more so as to increse my number of credit accounts, but I understand that applying for new credit cards within a short period of time may affect my credit score. Therefore, how long should I wait before I apply for another credit card?
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In my experience, a good number (for me) has been 6 months. My first card was secured (CapitalOne) and I dumped as much money into it as I could and bumped the limit up to the max they would let me. 6 months later I was able to get a second card from them (unsecured) with a matching limit, and 6 months after that got another card from another issuer that just gave me a CLI after 3 months with them. Right now, after about 1 year and 4 months playing this game (and keeping my utilization around 4-7%), my Vantage score is 748 (TU) and 746 (EQ, which has a couple extra hard pulls from some initial failed attempts early on).

Patience is key; if you can get a CLI on your existing card(s) to help bump your available credit and lower your utilization in between getting new cards, you can help improve your score in preparation for a hard inquiry later on, and there is no substitute for history other than time. That being said, the Vantage Score model also counts older inquiries less and less against your score until they drop off completely after 2 years... so any "mistakes" now (in regards to hard inquiries, at least) will be less impactful score-wise (though lenders can still use it against you in a decision) over time and will have no impact whatsoever in 2 years. So it is a matter of balancing the risks and rewards for your current situation.

After your first card, though? I'd wait 6 months regardless. Having that 6 months of history will pay off when you apply for the second one, especially if you can get your limit increased (and on your profile!) before you apply.

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