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Regular Contributor
aplast
Posts: 150
Registered: ‎06-20-2012

Re: Do I have too many credit cards for my age?

Interesting to see how many younger people have that many accounts and cards. I am 22 myself and have over 10 cards that I manage responsibly and have gotten some pretty decent CLI's so far. When you are ready to get out on your own it might help to have a little more than 1300 in available credit though.

American Express Green - NPSL, Sams Club Discover - 4000, Paypal Smart Connect - 4000, Capital One - 3500, Barclaycard Visa - 2500, Walmart - 1500, Discover IT - 1000, Ashley Furniture Home Store - 1000, Care Credit - 1000.
Valued Contributor
maiden_girl
Posts: 2,005
Registered: ‎12-29-2011

Re: Do I have too many credit cards for my age?


aplast wrote:

Interesting to see how many younger people have that many accounts and cards. I am 22 myself and have over 10 cards that I manage responsibly and have gotten some pretty decent CLI's so far. When you are ready to get out on your own it might help to have a little more than 1300 in available credit though.


I'm pretty shocked too! I had one credit card when I was around 19 or 20. I'm 22 now and I have 9 cards total. Most of my credit is from this year tho.

The truth is out there...
FICO scores: 740 (EQ) 738 (EX) 750 (TU) 4/14 | Goal score: 750+ (all 3)
Tradelines: Capital One (5.0k) | Discover IT (5.0k) | Walmart Discover (5.0k) | Chase Freedom NPSL (7.3k) | Citi Simplicity (9.3k)
--------------------------Gardening until my credit recovers...NO MORE INQUIRES TIL 2015
Valued Contributor
creditnocash
Posts: 2,185
Registered: ‎07-23-2012

Re: Do I have too many credit cards for my age?

Prior too June of last year(yeah we can say that now lol)

 

i only had 3 Store Cards and too my knowledge only 3100 in aval credit. 

 

best buy 2500

macy's 100 (according to my june statement limit was 2k though never got any notice of anything on that) 

kohls-400

Current: Discover Fico 689 7/14 Walmart Fico 682 7/14

Inquiries (24 Months): EQ 8 TU 5 EX 5 | Most Recent: 09/04/2013
2 Inquiries in The Last 12 Months


2014 Goals:
Lower Utility

Amex Zync(Unicorn)
Chase Freedom$1500
Discover IT$2900
Citi Diamond Preferred$6000
Citizens Mastercard$7000
Frequent Contributor
bluesnowman
Posts: 464
Registered: ‎10-29-2012

Re: Do I have too many credit cards for my age?

I have 4 cards total and I'm 19 (20 in may). Very happy with all my cards and with what I have accomplished in the last 9 months. 

Bank of America: Cash Rewards.-1,000. 4/25/12 (CLI Increase 6/15/13), Citi: Forward- 3k. 10/27/12 (CLI on 2/8/14, SP). Discover: More- 2k. 10/27/12 (Increase 6/1/14). Amex: PRG- NPSL (closed 12/13/13). 11/24/12. Chase: Freedom. 5/1/13- 2.4k. Southwest Rapid Rewards Plus.-3.6k. 6/15/13. Amex BCE-2k. 12/7/13. Amex SPG-4k.12/8/13. Last App: 1/8/14.
Senior Contributor
Wolf3
Posts: 3,198
Registered: ‎01-24-2010

Re: Do I have too many credit cards for my age?


Revelate wrote:

Wolf3 wrote:

bs6054 wrote:

...

No, the standard rule is one card for each year your age is over 17 (18 in CA, 16 in NV) so you are behind.


Who made that rule the standard?


Fairly certain it was tongue-in-cheek :smileyhappy:.

 

Forum in the throes of New Year's celebrations I suspect given the time stamps.


I suspected he made it up ( ID starts with bs).   But not a bad rule of thumb for young people.   

Frequent Contributor
WarJar101
Posts: 341
Registered: ‎08-14-2012

Re: Do I have too many credit cards for my age?

How'd you manage to get the AMEX PRG, lol? I would love to get my foot in the door with AMEX. Did you apply after 6 months of history or before? I'm another young guy who just started out as well, 21. 22 in April!!!!:smileyvery-happy:

Cap One Platinum MC $2.5k CL (08/12)
Citi Forward Student Visa Card $1.5k CL (09/12)
Express NEXT Card $0.25k CL (02/13), Jcrew CC $0.7k CL(02/13)
AMEX PRG NPSL (03/13), AMEX Gold Delta Skymiles 2k (03/13)
Walmart Credit Card $1.5k (03/13)
TU: 687 FICO (3/13) | EX: 692 Lender Pull (3/13) | EQ: 678 (4/1/13)
Valued Contributor
bs6054
Posts: 1,673
Registered: ‎11-11-2012

Re: Do I have too many credit cards for my age?


Wolf3 wrote:

Revelate wrote:

Wolf3 wrote:

bs6054 wrote:

...

No, the standard rule is one card for each year your age is over 17 (18 in CA, 16 in NV) so you are behind.


Who made that rule the standard?


Fairly certain it was tongue-in-cheek :smileyhappy:.

 

Forum in the throes of New Year's celebrations I suspect given the time stamps.


I suspected he made it up ( ID starts with bs).   But not a bad rule of thumb for young people.   


Well, actually BS are my real initials but I thought the comment on its own was fairly obviously a joke without the need to add clues!  And I did immediately follow up with a more useful comment.   But hey, that's just me, the whole internet is there just for me to amuse myself....

 

 

Frequent Contributor
bluesnowman
Posts: 464
Registered: ‎10-29-2012

Re: Do I have too many credit cards for my age?

I don't know how I got my prg. I didn't like the rewards of the green or the gold, so I went for the prg and wasn't expecting to be approved because of my income. Came home from dinner and it looked like I was approved instantly and I'm kicking myself that I did not go for a 2nd Amex with the same hard pull. As for when I got it, started in April, got approved for forward and the more card in October (end) and November 24th for my Amex. Went for the chase freedom the same night but they did not approve me. I guess my reports were clean and my scores were good enough even though my income is on the lower side. Good luck getting in with Amex! The Bce and freedom are my last cards and I will go for them in June. 

Bank of America: Cash Rewards.-1,000. 4/25/12 (CLI Increase 6/15/13), Citi: Forward- 3k. 10/27/12 (CLI on 2/8/14, SP). Discover: More- 2k. 10/27/12 (Increase 6/1/14). Amex: PRG- NPSL (closed 12/13/13). 11/24/12. Chase: Freedom. 5/1/13- 2.4k. Southwest Rapid Rewards Plus.-3.6k. 6/15/13. Amex BCE-2k. 12/7/13. Amex SPG-4k.12/8/13. Last App: 1/8/14.
Senior Contributor
Wolf3
Posts: 3,198
Registered: ‎01-24-2010

Re: Do I have too many credit cards for my age?


bs6054 wrote:

Wolf3 wrote:

Revelate wrote:

Wolf3 wrote:

bs6054 wrote:

...

No, the standard rule is one card for each year your age is over 17 (18 in CA, 16 in NV) so you are behind.


Who made that rule the standard?


Fairly certain it was tongue-in-cheek :smileyhappy:.

 

Forum in the throes of New Year's celebrations I suspect given the time stamps.


I suspected he made it up ( ID starts with bs).   But not a bad rule of thumb for young people.   


Well, actually BS are my real initials but I thought the comment on its own was fairly obviously a joke without the need to add clues!  And I did immediately follow up with a more useful comment.   But hey, that's just me, the whole internet is there just for me to amuse myself....

 

 


Ok then.

Established Contributor
CruzImperial
Posts: 863
Registered: ‎07-04-2012

Re: Do I have too many credit cards for my age?


aplast wrote:

Interesting to see how many younger people have that many accounts and cards. I am 22 myself and have over 10 cards that I manage responsibly and have gotten some pretty decent CLI's so far. When you are ready to get out on your own it might help to have a little more than 1300 in available credit though.


The wonders this forum does for us hehehe :smileyhappy:

Fico Scores: . Walmart TU 748 . App free since Aug 2013 .

Cap One Journey 500 | Discover IT 1k | GE Home Design 5.6k | GE HHGREGG 5k | Amex Zync NPSL | Amex BCE 6k | Citi Forward 4.2k | Citi Dividend 3k | GE BrandsMart 1k | GE Lowes 8.5k | Discover Walmart 6k | Barclays Apple 2.5k | BoA CR 800 | CSP 7.2k

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