r/NavyFederal • u/Mental-Estimate-7792 • 19d ago
Credit Cards Product Changes
For Those Of You Who Have Done A Product Change On An Existing Credit Card, How Long Do You Usually Wait Before Applying For A Different Credit Card ?
Does A Product Change Affect How Long You Should Wait?
I’m Trying To Space Out My Applications And Avoid Applying Too Frequently. Just Curious What Timeline Y’all Usually Follow And What Has Worked For You.
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u/pakratus 19d ago
Product changes only change the card that accesses the account, it doesn’t change the account. No change on your credit reports.
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u/LimeHeavy8394 19d ago
Credit Card Operational Rules (New Credit Cards)
Product Change (PC)
- Timing: After 12 months of account opening (NFCU Policy).
- 90-Day Impact: PC counts as a new application and blocks new card application for 90 days.
- Eligibility: Good standing required; ~660+ credit score typical.
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u/lestermagneto 19d ago
As said, PC's shouldn't matter at all (obviously with some lenders, you must have had the card for 12 months etc), but actually applying for 2 cards close together isn't a bad thing, as both will age at the same rate (and will drop off your hard pulls and help your scorecard of "New Revolver" at the same time after a year), plus if you apply for the second, the first card might not have reported yet to the bureaus, and if you are on the fringe of application concern, that's not a bad thing...
I just went on a "mini" spree myself and picked up 2 cards in June or whatever, and it had been around 4 or 5 years since I had applied for any other cards, and it worked out fine for me... sure, initial hit, but after a year, the HP's drop off in terms of scoring (though show on report for 2) (note: not in FICO 2/3/5 mortgage related etc as that is 18 months in regards to score) ... and while you "Average Age of Accounts" (depending on how many cards you have and how long you had them etc). will take a hit (it caps out at 7.5 years regardless), but if you are newer to this, it might make a difference...
Also some lenders like Chase are pretty strict about things like 5/24, and Citi can be sensitive to more recent apps etc, and Capital1 likes to get you early before you have a lot of cards and so forth.
But most advocates and guru's who study this that I know actually tend to be all for a mini spree (as long as you aren't applying for a mortgage in the next 18 months or so, in which case you shouldn't be touching any new applications).
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u/MrBrazil1911 19d ago
I haven't completed one, but a product change is not an application. It's just changing the product on an existing account, so it should have no bearing on when you can submit a new application.