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Re: Banker says I have too many credit cards

Frequent Contributor
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Registered: ‎12-16-2011
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Re: Banker says I have too many credit cards

Thanks to all of you. I am a member of a credit union and will go there. It is just sort of disheartening when one realizes they aren't getting any loyalty from their bank. The banker said I should just keep two of my cards which I thought was foolish.

Equifax FICO 781, Transunion FICO 821, Experian FICO 807,

810 goal on all three by 3-1-2015
Valued Contributor
Posts: 1,969
Registered: ‎01-24-2012
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Re: Banker says I have too many credit cards

Different institutions are different with their lending. While more cards do not hurt scores, they can hurt approvals and rates with different lenders. There are some lenders who don't want to see someone with 20 credit cards and 300,000 in credit available to them. Some people have said that when they were getting a mortgage they were told the same thing.

Super Contributor
Posts: 7,132
Registered: ‎02-27-2013
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Re: Banker says I have too many credit cards

what is your income like?
unless your income is very low, your banker is most probably trying to take advantage of you and upsell you something.

time to switch bankers, if not banks.

 

JPMorgan Palladium (100k), AmEx Platinum (NPSL), AmEx SPG (46k), AmEx BCP (42k), Chase Sapphire Preferred (47k), Citi Prestige (31k), Citi Thank You Preferred (27k), Citi Executive AAdvantage (25k), JPMorgan Ritz-Carlton (21k), Merrill+ (15k), US Bank Cash+ (22.5k), Wells Fargo (12k), Bloomingdale’s (12.4k), Chase Freedom (5k), Discover IT (5k).
Established Contributor
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Registered: ‎02-20-2013
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Re: Banker says I have too many credit cards

And just so we're absolutely positively clear, 

 

YOU CAN NEVER HAVE TOO MANY CARDS! :smileyvery-happy:


DCU ( pulled 3/29/13) EQ04 683 | Amex (pulled 3/28/13) EX 760 | US Bank (pulled 3/28/13) EX 753
CreditKarma (4/19/13) TU-TR 701 | TU Vantage 788 | USAA FAKO (3/31/13) EX 728, EQ 699, TU 737 |
Inquiries (4/18/13) EX 13 | EQ 13 | TU 14
Contributor
Posts: 91
Registered: ‎03-27-2013
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Re: Banker says I have too many credit cards

You should really tell that banker to go kick rocks. There are other banks that will appreciate your business. I have never heard such nonsense from a banking employee.
BoA: Virgin Atlantic World Elite Mastercard
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Frequent Contributor
Posts: 261
Registered: ‎07-15-2012
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Re: Banker says I have too many credit cards

Being a banker myself and processing credit products on a daily basic, I would say he's pulling you're chain. Banks care less about the amount of credit you have overall. What they look at is employment length, DTI and FICO! It's plain and simple, take your business elsewhere =)
Current Fico's: TU 797 / EFX 785 / EXP 775
Wallet: US Bank Cash + $15K | Amex PRG NSL | Barclay Arrival+ WMC $10K l Amex BCP $9K | PenFed Visa Sig $9K | DCU Plat. $10K | Logix 10K | Discover $9.6K | WalMart $10K | Paypal MC $15K | Cap 1 Venture World MasterCard $6K | Barclay NFL $3.4K | Cap 1 Venture One $6K | • $113,000 Revolving •
Valued Contributor
Posts: 1,863
Registered: ‎09-20-2011
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Re: Banker says I have too many credit cards

Dump your banker and find a good credit union, your problems will be solved.

Valued Contributor
Posts: 1,738
Registered: ‎08-13-2012
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Re: Banker says I have too many credit cards

TAke ur stuff and run :smileyvery-happy:


Starting Score: 560
Current Score: 748 Wishlist: CSP, Simply Cash, SPG, BOLD, INK, United MP,
Goal Score: 800


Walmart: 10k |Usaa: 8k|BCE: 13k| Amex: NSPL|Dis: 9.4k|Cap: 5.5k|CAP: 2k|CSP: 13.4k| Pen:4.5k

Established Contributor
Posts: 502
Registered: ‎04-17-2013
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Re: Banker says I have too many credit cards

[ Edited ]

LS2982 wrote:
To quote Tony Montana:

"You banker is taking you for a loooooong ride mang......."

:smileyhappy:

That was pretty good..

 

@ OP, I would agree with majority of the posters here. Check with another bank, there is a bank out there who would love to have you.


2010: 475 EQ 2011: 503 EQ 2012: 600 EQ2013:632 EQ
Starting Score: 634 EQ-3/13/13
Current Score: 706 EQ-8/29/13 703 EX-7/12/13 705 TU-8/9/13
Goal Score: 700

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