If your looking to learn what a credit hot cake is your in the right place.
A credit hot cake is when you get 4 to 5 credit cards almost back to back while asking for the highest credit limit you can get.
Why would you get a credit hot cake?
There are several reasons you would want a credit hot cake. You would get a credit hot cake because you want increase your overall credit limit.
Another reason why you would get an credit hot cake is so you can crowd your hard inquiries together so when it’s time for them to fall off they fall of almost at the same time.
An credit hot cake is a real good way to position yourself for business credit using a personal guarantee as well. Great way to get yourself to an 700 credit score or even a 800 credit score. It will also give you a nice amount of accounts to start reporting your history. When it comes to accessing business credit the more history you have showing the better.
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When do you get an Credit Hot Cake?
You usually get a credit hot cake after you start building some credit with secured cards or you get an authorized user account.
You definitely want some sort of foundation before you attempt this because you will be using hard inquiries.
Is this a safe strategy?
While some might think this is a risky strategy because your opening all these credit lines, it really isn’t. Why?
Credit cards only hurt you when you misuse them. Right? If you feel nervous holding all these open credit cards – don’t, because your cards do not jump out of your pocket in the middle of the night and start swiping themselves.
Your safe.