Got a surprise call from a Bank of America senior account specialist today.

[B335is]

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@CreditMagic7 wrote:

Well 20 surely gets me beat. However i was grilled pretty hard by Barclay's Interrogation Society just the other week when trying for the 2nd time in 10 months for Sallie Mae Card. "Is there a reason why you have opened up 15 new credit card accounts this year?"

Uh Yeah, i was just trying to make up for lost time from not holding any credit at all for 10

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Thats priceless. 

I'm half tempted to call just to say "when you lenders don't give me the lowest APR how else should I proceed.."

[slicemans]

why do you need 20+ cards?

[Anonymous]

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@slicemans wrote:

why do you need 20+ cards?

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There's a point where it becomes a want and not a need.

I've been meaning to list or sig up all the cards I have or am an AU on but have lacked the motivation..

[Anonymous]

Thats not even a huge increase in utilization, its should be obvious to these companies why most people app for 20 plus cards when theyre constantly sucking us in with 100k bonus miles, 20 perc off if you open a card (store cards) etc.  They need to stop luring ppl in then asking "hey why so many cards"? lol

[Anonymous]

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@slicemans wrote:

why do you need 20+ cards?

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Each card serves a purpose, typically for their specific rewards structure and their compatibility to meet my spending requirements. The big picture as to why I use credit cards for everything would be that I do not like using any card (debit cards to be specific) that are linked directly to large sums of my own capital. I am sure other members reasons differ for having many cards, but I am certain they have a reason. Or as Nixon stated, they just like accumulating "things". It's our American way afterall!

[Chris679]

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@akula wrote:
So, from what a gather it is a better choice to let your balances post, then PIF vs paying the balances down before the statement cuts? Or did I miss the mark with what was provided.

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You missed the mark.  The reason BoA called the OP is because there were a lot of new accounts and balances.  OP explained that the balances were being PIF right away.

[sandman2435]

Thats Why I keep my Util at about 1%...I have a a lot of credit Avaliable to me and I pay almost before the statement cuts..Don't need any phone calls lol

[amdm2013]

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@Membersince2013 wrote:
After formalities, he cut to the chase. He asked why my uti has risen from 12% to 35% and why I've opened over 20 new accounts in the span of a year. I explained that the credit system is weird and that I actually do pay 90% of my accounts in full. I encouraged him to look at my boa accounts and see for himself. He then continued on saying he commends my efforts to always pay in full and he can see that it looks like I let my balances post before paying. He then said that they periodically do reviews on accounts and my spending patterns are somewhat alarming, but considering that I pay in full, he'll keep all my accounts open.
We exchanged more pleasantries and hung up. I felt really weird about the call though. Needless to say, no more apping for the next year and a half.

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You're lucky that they called you. My two accounts were closed two months ago because I opened ten new accounts and had tons of

inquiries. If I had not called the bank for another issue, I would have never known until I used the card or the received the letter. I had perfect

history. I did not bother to recon because I was guilty and really had no excuse. I've moved on, so I only bank with US Bank and Wells Fargo.

[Anonymous]

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@amdm2013 wrote:

You're lucky that they called you. My two accounts were closed two months ago because I opened ten new accounts and had tons of

inquiries. If I had not called the bank for another issue, I would have never known until I used the card or the received the letter. I had perfect

history. I did not bother to recon because I was guilty and really had no excuse. I've moved on, so I only bank with US Bank and Wells Fargo.

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Were your BoA cards two of the ten said new accounts? I just opened 10 new accounts (none with BoA) and I am hoping that once they all begin reporting that I don't experience any of this. I had not even considered this to be a potential issue until I read through this thread. 

[amdm2013]

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@Anonymous wrote:

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@amdm2013 wrote:

You're lucky that they called you. My two accounts were closed two months ago because I opened ten new accounts and had tons of

inquiries. If I had not called the bank for another issue, I would have never known until I used the card or the received the letter. I had perfect

history. I did not bother to recon because I was guilty and really had no excuse. I've moved on, so I only bank with US Bank and Wells Fargo.

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Were your BoA cards two of the ten said new accounts? I just opened 10 new accounts (none with BoA) and I am hoping that once they all begin reporting that I don't experience any of this. I had not even considered this to be a potential issue until I read through this thread. 

@Anonymous, I had my BoA cards for two years (both cards with a $10.5k CL). I went on a mad-app spree and I already had 26 inquiries before my apps, so with

the new apps my inquirues reached to 36 which raised red flags. I had hardly used BoA cards this year because I really already have far to much available credit which

I don't need. Luckily US Bank instantly approved me with a $10k CL just a day before my accounts were closed.