There are no advantages or disadvantages to applying for credit just because of the time of year. The issue is more a question of the impact on your credit for applying, regardless of the season.
Too many inquiries in a short period of time is always a red flag for creditors, because it makes it appear as though you’re shopping for credit. Further, “hard” inquiries (meaning the creditor pulls a full copy of your bureau file) can temporarily lower your credit score, which can cause issues if you are about to refinance a house or purchase a car – the decrease in your score could affect the interest rate your lender charges.
Hard inquiries (most of the time) come from applying for credit without a pre-approval from a creditor. Pre-approvals are sent (or offered) when creditors do a “soft” pull (meaning they get your score and some other general info that allows them to make a basic credit decision since your file indicates you meet some set of underwriting parameters they’ve defined). When you’re pre-approved, the creditor will tell you this, and most of the time they will never do a hard pull, although be sure to read everything thoroughly before accepting to make sure. If they ask you to enter only the last 4 digits of your SSN, that’s a sign they generally won’t do a hard pull after offering a pre-approval.
To return to your original question, some retailers or other creditors may make credit easier to obtain during the holidays in an effort to lock in your spending with them via a store card or account. This isn’t always true. I would strongly suggest that if you’re going to apply, look for cards/retailers who offer a pre-approval with no impact to your credit score, so that you can pick and choose the right cards for you without the negative consequences of hard inquiries which could stay on your file for up to two years.
