@aamex wrote:Just out of curiousity I'd like to know what the members of this board deem to be a more attractive portfolio:
@- fewer cards with bigger limits (10k @ amex, 7.5k @ BOA, 15k @ Discover)
or
- several cards with nominal limits (5.00 CapOne, 750 Walmart, 1000 Barclay, 400 First Subprime, 500 AppSpree CU, 600 AppFever Bank)
in my (opinion) (assumption) banks would find it more attractive to lend to consumers who have managed higher available credit well. additionally, it opens you up to greater benefits like cash back, points, complimentary flights, etc. also greater AAoA for have fewer new accounts... maybe others have something to add to this.
Lol, this theory that few cards with bigger limits keeps me in the Garden. But who do you all think?
At first I read "normal" instead of "nominal" and was going to reply that those are lower than "normal" 
.
Anyhow, I don't think that banks, CCCs, or other lenders really care about your CL with other lenders because they know that all lenders follow different guidelines for assigning them. Also, low CLs don't always mean the cardholder has managed his/her credit poorly, and conversely, a high CL doesn't necessarily indicate good management either. Though I don't have an example of the latter, I've had this USBank CC for over a year now -- never over the limit, never late, almost always PIF -- and it hasn't budged from the original $500 CL.
Obviously every single lender cares about utilization, but I can't imagine them viewing $10/100 much differently than $1000/10,000.
@Anonymous wrote:
@aamex wrote:Just out of curiousity I'd like to know what the members of this board deem to be a more attractive portfolio:
@- fewer cards with bigger limits (10k @ amex, 7.5k @ BOA, 15k @ Discover)
or
- several cards with nominal limits (5.00 CapOne, 750 Walmart, 1000 Barclay, 400 First Subprime, 500 AppSpree CU, 600 AppFever Bank)
in my (opinion) (assumption) banks would find it more attractive to lend to consumers who have managed higher available credit well. additionally, it opens you up to greater benefits like cash back, points, complimentary flights, etc. also greater AAoA for have fewer new accounts... maybe others have something to add to this.
Lol, this theory that few cards with bigger limits keeps me in the Garden. But who do you all think?
At first I read "normal" instead of "nominal" and was going to reply that those are lower than "normal"
Anyhow, I don't think that banks, CCCs, or other lenders really care about your CL with other lenders because they know that all lenders follow different guidelines for assigning them. Also, low CLs don't always mean the cardholder has managed his/her credit poorly, and conversely, a high CL doesn't necessarily indicate good management either. Though I don't have an example of the latter, I've had this USBank CC for over a year now -- never over the limit, never late, almost always PIF -- and it hasn't budged from the original $500 CL.
Obviously every single lender cares about utilization, but I can't imagine them viewing $10/100 much differently than $1000/10,000.
I have to disagree with that statement. Capital One specifically considers someone with Excellent Credit to have or had a CC with $5k limit or higher. Barclays cares about the kind of CL you have with other creditors when they decide on the limit to extend you. I have also been declined in the past for having low limits (under $5k) to qualify for certain PRIME cards. I know there are exceptions so YMMV
To OP it's ideally better to have a few cards with high limits than having to manage 10-15 cards with low limits.
@Anonymous wrote:
@Anonymous wrote:
@aamex wrote:Just out of curiousity I'd like to know what the members of this board deem to be a more attractive portfolio:
@- fewer cards with bigger limits (10k @ amex, 7.5k @ BOA, 15k @ Discover)
or
- several cards with nominal limits (5.00 CapOne, 750 Walmart, 1000 Barclay, 400 First Subprime, 500 AppSpree CU, 600 AppFever Bank)
in my (opinion) (assumption) banks would find it more attractive to lend to consumers who have managed higher available credit well. additionally, it opens you up to greater benefits like cash back, points, complimentary flights, etc. also greater AAoA for have fewer new accounts... maybe others have something to add to this.
Lol, this theory that few cards with bigger limits keeps me in the Garden. But who do you all think?
At first I read "normal" instead of "nominal" and was going to reply that those are lower than "normal"
Anyhow, I don't think that banks, CCCs, or other lenders really care about your CL with other lenders because they know that all lenders follow different guidelines for assigning them. Also, low CLs don't always mean the cardholder has managed his/her credit poorly, and conversely, a high CL doesn't necessarily indicate good management either. Though I don't have an example of the latter, I've had this USBank CC for over a year now -- never over the limit, never late, almost always PIF -- and it hasn't budged from the original $500 CL.
Obviously every single lender cares about utilization, but I can't imagine them viewing $10/100 much differently than $1000/10,000.
I have to disagree with that statement. Capital One specifically considers someone with Excellent Credit to have or had a CC with $5k limit or higher. Barclays cares about the kind of CL you have with other creditors when they decide on the limit to extend you. I have also been declined in the past for having low limits (under $5k) to qualify for certain PRIME cards. I know there are exceptions so YMMV
To OP it's ideally better to have a few cards with high limits than having to manage 10-15 cards with low limits.
Well there are certainly exceptions to everything. Cap1 considers someone with a $5k CL with any lender to have"Excellent Credit"? I know a few people with $5k CLs who have scores below 650 (not awful, but not "excellent") -- I'm not saying you're wrong, I'm saying that if your statement is true, then Cap1 should reconsider how they view credit. When I got approved for AMEX the only cards I had were J.Crew, US Bank College, and Citi Dividend Plat Select. At the time my highest limit was (still is) $4k on the Citi. AMEX offered me $2k, and a month later Freedom offered me $3k.
As we all know, with everything YMMV.
and 5k also is for loans. Anyone with a car note should qualify. Just need to have it or 3 years.