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I'm the credit collector type but there's also a practical reason.
People worry about hits to their AAoA when they app for a new card. When you have as many cards as we collectors have, a new card can't even dent our AAoA.
And yeah, to some of us, it really is like trading cards (I want that Sinclair Dinosaur card that Ron got)
@Anonymous wrote:I'm the credit collector type but there's also a practical reason.
People worry about hits to their AAoA when they app for a new card. When you have as many cards as we collectors have, a new card can't even dent our AAoA.
And yeah, to some of us, it really is like trading cards (I want that Sinclair Dinosaur card that Ron got)
LOL... Now, IME, I've never been a fan for gas-specific cards (even co-branded ones)... but, if you want your Sinclair Dinosaur, go for it! I don't even think we have any of those here in OH.
OP what are your MyFICO scores and the limits with these cards? That provides perspective on where you are in credit qualification.
@SunriseEarth wrote:
@Anonymous wrote:
@Anonymous wrote:How often is too often to apply for a card? I want to apply in June for one of those 3 cards and then again every 6 months until I have them all. I would be basically set after that until I can afford to actually have a Amex Platinum.
This is like asking "how much pizza is too much?", totally subjective. It totally depends on your situation and your credit profile. If you travel much at all the AMEX Platinum annual fee is covered by benefits after 4 or so flights, IMO.
I completely agree. Credit isn't a "one size fits all" model. Some of our members feel 3 CCs is too many and others feel that 100 CCs isn't enough.
As for the OP, I think spacing out sprees sounds good, so that INQs can have a chance to age down. After 6 months, the effects of INQs on scores largely diminish, but don't completely stop their effects on scores until 1 year afterward.
I've deduced that 51.5 cards is enough using this model.
The .5 is a secured card for good measure.
@Anonymous wrote:
TU 746, EX 728, not sure about EQ.
Quicksilver 1800cl
Freedom 2800 cl
Home Depot 500 cl
Banana Republic 3500cl
Everyday Preferred 3500cl, but brand new.
Nice AMEX starting limit
@Anonymous wrote:I am wondering if it is a good idea to get a card from each or most of the different main banks and carriers.
Your call to make. I select cards based on the cards -- not the creditor. However, you have to operate based on your own preferences, goals and priorities.
What do you perceive as the benefit from doing so? If you want recommendations you need to give us a better understanding of your line of reasoning.
Just to be viewed and accepted by all the banks so I never have an issue getting a loan or doing anything with each bank.
Or maybe I just want a really high credit score to show off...
@Anonymous wrote:Just to be viewed and accepted by all the banks so I never have an issue getting a loan or doing anything with each bank.
Or maybe I just want a really high credit score to show off...
You don't need a card from each big bank to get a high credit score. Has no bearing whatsoever. If I were you instead of trying to get a card from all the big banks Id look to diversify into a credit union or two. I'd never rely on having my credit solely with those banks.