@clocktick wrote:
@LS2982 wrote:Well I guess i'm in the minority on this one...................
Haha, LS, I feel like I'm in the minority with this view on the board.
Well that makes 2 of us! 
@pipeguy wrote:I'm a firm believer in having enough credit to take care of my monthly needs and cover me in an emergency either for a large purchase (say car repair) or or short term loan.
I currently have 10 open credit accounts (trade lines) which include 4 bank cards, 1 car loan, several store cards like Dell, Amazon, Walmart, etc and 1 mortgage. I do not have any AmEx cards although I used to when they fit my business needs and I don't have a Discover account, again I used to with a 10K CL (just found I didn't need or use Discover). I also try to make sure I use different issuers, such as GERCB or WebBank (store cards) and different issuers for my MC/V cards. The reason for this (different issuers) is so my credit situation is not controlled by one lender. I try never to pay an annual fee, but one of my bank cards has a $39 AF which I recover through normal spending (cash back rewards), but I don't go out of my way to use this card for rewards.
My current CR's show 42-43 tradlines (EQ is 22, but was 43 until January 2012, that's another story), oldest current account is 34 years. I keep open accounts that I use for MY convenience meaning I don't have to carry much cash everyday, but I certainly don't jump through any hoops to use one card for food, another for gas, another for whatever reason. I do use zero percent promotions for larger purchases, again at my convenience and my benefit. I don't have $400,000 worth of credit lines, I have no need for credit lines like that today.
My credit scores are fine, not super prime as I had some dings in 2007 from my business closing, but I don't do anything daily with the concern of "how will this affect my Fico score" - I don't care if my score goes down 10 points because I opened a new bankcard or closed an another one. Credit Scores only count if you are looking for new credit and with a little foresight it's pretty easy to stabilize or increase your scores (low utility, pay on time, limit inq's) note I'm not talking about credit repair, just everyday usage of credit as far as scoring.
Bottom line, get the credit you need, close the credit you don't need and try not to base your credit on "want".
+1
Great Post!
Hey Stocks, was your CareCredit CLI auto or a SP. I really want them in increase my limit but don't want a HP, especially not on EQ 
@daisydvm wrote:Hey Stocks, was your CareCredit CLI auto or a SP. I really want them in increase my limit but don't want a HP, especially not on EQ
I need this info. too!
@daisydvm wrote:Hey Stocks, was your CareCredit CLI auto or a SP. I really want them in increase my limit but don't want a HP, especially not on EQ
Hey Daisy and LS- unfortunatley it was neither auto or SP, I had to call in and request it. I have hear that some people have cards that are only SP's for an automated system CLI but not for CareCredit, at least not for me. I used the automated system and it made me confirm that I was agreeing to have my credit pulled
HP on EQ.
I have way too many inquires on EQ. I guess no CareCredit love for me
@Anonymous wrote:
@pipeguy wrote:
@clocktick wrote:No. I closed a Target and Walmart card within a month or so after receiving them. Of course, your inquiries will still stay the full 2 years but nothing "happened" to my reports in the longrun. Your AAoA will lessen too, whether you kept the card open or not. I'm a believer of closing cards one does not want versus the SD - AF or not.
+10 Bingo !
Thanks for the feedback clocktick and pipeguy, I was thinking the same thing! I don't really want to have extra cards laying around even if I will not be using them seems like I'm just setting myself up for problems that way e.g.. Missing a payment for an AF or identity theft.
I was wondering the same thing. I opened a Barney's New York account in June 2011 and I'm thinking about closing it. I haven't used it yet because Barney's is an hour and a half away from me. I opened my account online thinking I'd be able to shop online but CSR said I have to make my first purchase in a store and almost a year later I STILL have not made it to the store. With gas prices the way that they are, I just can't justify taking that long of a drive to shop 
@daisydvm wrote:
I have way too many inquires on EQ. I guess no CareCredit love for me
Were you trying for a CLI?