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Do I have too many credit cards for my age?

Regular Contributor

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.

Message 31 of 41
Valued Contributor

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.

As of 2017, rebuilding...
Message 32 of 41
Valued Contributor

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 709 3/15 Walmart Fico 743 4/15

Inquiries (24 Months): EQ 6 TU 1 EX 6 | Most Recent: 4/09/2015
Over 12 Months:9


2015 Goals:
Lower Utility
Earn Cash Back

Amex Zync(Unicorn)
Chase Freedom$1500
Discover IT$7,400
Citi DC $10,000
Citizens Mastercard$7,000
Message 33 of 41
Frequent Contributor

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.- 4.2k. 4/25/12 (CLI Increase 6/15/13, CLI May of 2015, sept 2015), Citi: Forward- 4.5k. 10/27/12 (CLI on 2/8/14, SP, CLI on 9/26/15 sp). Discover: More- 7k, 10/27/12 (Increase 6/1/14, CLI in May of 2015, SP 9/2015) Amex: PRG- NPSL (closed 12/13/13). 11/24/12. Chase: Freedom. 5/1/13- 5k (EX CLI HP 9/2015) Southwest Rapid Rewards Plus.-3.6k. 6/15/13. Amex BCE-2k. 12/7/13. Amex SPG-5k 12/8/13 (CLI on 9/2015) Capital one VentureOne Visa Signature-10k (9/6/15). Citi AAdvantage Platinum Select World MasterCard-4K. Last App: 9/6/15. Total cl: 45,300
Message 34 of 41
Senior Contributor

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 Smiley Happy.

 

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.   

Message 35 of 41
Frequent Contributor

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!!!!Smiley Very Happy

Rebuilding...been out of the game for a minute. Now, after suffering I'm back with greater wisdom. Scores: Currently @ around 6 teens to 20's, across all three EQ,TU, EX
Message 36 of 41
Valued Contributor

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 Smiley Happy.

 

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....

 

 

Message 37 of 41
Frequent Contributor

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.- 4.2k. 4/25/12 (CLI Increase 6/15/13, CLI May of 2015, sept 2015), Citi: Forward- 4.5k. 10/27/12 (CLI on 2/8/14, SP, CLI on 9/26/15 sp). Discover: More- 7k, 10/27/12 (Increase 6/1/14, CLI in May of 2015, SP 9/2015) Amex: PRG- NPSL (closed 12/13/13). 11/24/12. Chase: Freedom. 5/1/13- 5k (EX CLI HP 9/2015) Southwest Rapid Rewards Plus.-3.6k. 6/15/13. Amex BCE-2k. 12/7/13. Amex SPG-5k 12/8/13 (CLI on 9/2015) Capital one VentureOne Visa Signature-10k (9/6/15). Citi AAdvantage Platinum Select World MasterCard-4K. Last App: 9/6/15. Total cl: 45,300
Message 38 of 41
Senior Contributor

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 Smiley Happy.

 

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.

Message 39 of 41
Established Contributor

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 Smiley Happy

Fico Scores: . Walmart TU 748 . Garden 8/19 2014 .

Cap One Journey 500 | Discover IT 500 | 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 7.5k | Barclays Apple 2.5k | BoA CR 2.7k | CSP 7.2k | Platinum Prestige 5k | IT Chrome 4k | Slate 2.3k |
Message 40 of 41