Discussion - Multiple CCs vs. fewer CCs

[s_haliz]

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@eagle2013 wrote:

Person 2 definitley will have more favorable terms and higher CL relative to Person 1.

I've pretty much exhausted a lot of the CC options - total of 19 or 20 cards. A few of them are AF travel cards that are getting ditched next year now that I've liquidated the bonuses. I expect my CC portfolio to shrink down quite a bit. My goal is to have a total of no more than 5 cards in use: CSP, Sallie Mae, Sams Club MC and Fidelity AMEX. The rest either reallocate limits or SD. 

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Good plan. I like it. 

[s_haliz]

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@longtimelurker wrote:

Impossible for us to say!   It's also sort of unlikely that they would have the same score in this case.  You can make cases for either side easily enough.

For example: assume that both have a perfect payment history.   A UW could argue that that means more for the person with lots of cards than the person with fewer (if you had just one card, not missing a payment doesn't show that you have good management, of course being late on your only card would be bad).   So I'm more willing to give the person with more cards my card, as he/she seems to know how to handle them.

But as others have said, if both have similar good scores, payment history and reported income, they may well be treated the same, as these differences may not be key ones.

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Definitely they both are going to get cards. But how about CL? Mostly I had observed that they will give CL in line with your current CL (may be average of all cards or close to high CL). If that holds true, then Person #2 might be at advantage. But then again, CU may decide to give person #1 much higher limit. I think in this forum we had witnessed that too. 

[s_haliz]

You make a good point here.