New 0% interest cards: how many, how often?

January 25, 2009 at 5:12 pm (credit cards) (, , )

I just recently applied for a 0% Discover card at end of November/early December 2008. I was approved for a $5000 limit. I know I have good credit, and no credit limits have been reduced by anyone recently, nor have any cards been cancelled due to inactivity.

So should I try and get additional 0% interest rate cards? My question is how often one should apply, or how long to wait before going for an additional one. I heard from the credit card company whenI applied that a credit report request doesn’t count on the date it is requested, so I take that to mean that I can apply for a bunch at the same time, and see what comes back? Not sure if this is true or not. Regardless, it’s 2 months later, so that no longer applies.

Does anyone have any advice or places I can try and find out? I can always try and apply again and either be accepted or rejected. Honestly I have little care how this will affect my credit score. I’m not planning on needing additional credit, nor buy a house in the foreseeable future.

I hear that  Chase has some good rates – I just have to find other good low interest or no interest cards that have at least 6 month or longer for that low rate or it probably isn’t worth my time. I also just read that Chase has been raising fees and interest rates, and dropping credit balances. It sounds like some a company that is stretched a bit too thin and I don’t even know if they’re still accepting balance transfers! Maybe after all I should just not worry about it. 10% is high for the line of credit, but I can handle it. I think after all, with this uncertain credit market, I should just hunker down, pay it off, and not try the balance transfer game. I don’t want to get too many cards with too many minimum payments (especially as the amount due is doubling and getting higher for so many of them). I don’t want to extend myself too thin; 3 debts are probably enough.


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