(work in progress. please refrain from OT posts, thanks!)
App-O-Rama is getting a lot more popular, especially as its become much more profitable to take 0% money and deposit it into bank accounts paying 5-6% or more. With some people acquiring six figure total CC limits, it is becoming possible to make several THOUSAND dollars per year doing an App-O-Rama. Naturally, had to dustoff the SIS screename for this one. 
History: The thread that started it all. A MUST-READ to familiarize yourself with App-O-Rama. It started innocent enough - I just wanted to shop for products that required credit inquiries all at once , instead of spacing inquries out every few months. This way I could get a bunch of credit, and all the inquiries would be gone 2 years later. I found out a lot of interesting things along the way (like some credit report services will not COUNT same-day inquiries) which reinforced the benefits of an App-O-Rama strategy.
Also be sure to read the linked threads in the Credit Card FAQ as they address most common questions people have about credit cards (closing accounts, getting too many, credit score, etc)
WHERE TO START:
1. Select cards for your App-O-Rama
2. How many cards should I get?
Usually 2-3 cards PER ISSUER (Chase, Citi, AM.EX, etc) is the most a person with perfect credit can reasonably expect , before you start running into rejections for "multiple applications". I like my App-O-Ramas to include about 10-20 cards. Depends entirely on your personal needs and credit situation.
3. When should I do the App-O-Rama?
Since some credit reporting services used by lenders deduct SAME DAY inquiries, I want as many inquiries to hit on the same day as possible. So I start early in the morning (most banks are on East Coast time) during the beginning/middle of the week. Some applications pull your credit as soon as you submit an online or phone app, some send the application to the "back office" for further processing, and they may not pull credit till later that day, or a few days later. We dont seem to be able to control when the lender will actually perform the pull.
4. Should I get joint cards or authorized user cards?
I say no. See my thread in the QuickSummary on the evils of joint accounts. If you get just individual cards, EACH person can apply for the same card, potentially getting greater total credit lines.
5. I got approved for a card, but it came with a small credit limit because I have other higher limit cards with that issuer. What should I do?
Dont worry, see this thread many issuers let you move or reallocate the credit lines, so you can move a large portion of your credit lines to the card with the best offer.
6. What are some risks of App-O-Rama?
A poorly thought out App-O-Rama wont help you much, but shouldnt hurt you beyond the credit inquiry hits. However, there have been instances of people experiencing adverse effects on their credit when lenders got spooked. Discuss them here, and also read about it in the archived thread linked in the QuickSummary. Of course, if you spend all that newfound credit, it could spell financial disaster for you. And dont even think of trying to apply for a bunch of credit just to default or leave the country.
7. How much are people making doing this?
A lot. For someone with a good credit profile, $200-300k in new credit lines during one App-O-Rama is not unheard of. And with some creative reallocating of existing credit lines, and high interest deposit acccounts, profit of $15-20,000 or more per YEAR is possible. Do I think this qualifies as one of Fatwallet's Hottest Deals ever? Yes. But only if done right. Those with limited credit history, small credit lines, etc will not be able to get such large credit lines.
8. Tell us your stories!
There have been MANY App-O-Rama success stories posted in this forum. I linked some recent ones in the QuickSummary. Please feel free to link your App-O-Rama thread. if you didnt feel like doing a whole thread, a simple reply to this post listing the benefits you gained from App-O-Rama would be helpful.
9. I still have more questions. Help!
While I cannot spend all my time answering PM's , I will try to help those get started if you PM me and ask nicely Note: The App-O-Rama has been extensively discussed in this forum in the many threads linked in the Quicksummary, and you should AT LEAST carefully read through this introductory post first. Rather than create a new thread asking questions about App-O-Rama, ask them here. As you can see, the most valuable App-O-Rama threads are those where the member did their research and documented their experiences.
