22 active accounts (19) obtained in the last year most hitting the one year mark this coming month. Score never lower than 740 and has been as high as 805 until the AAOA crashed to 2 1/2 years! Down side to this was a letter form PNC this last month stating the accont would be closed if I did not use it. (I never use it since cl is only 3k and they would not give me a cli at 6 months) This was an account that was bought out by PNC a month after I opened the account. Whenever someone has a great offering for miles or points I get that account. Due to the number of accounts I cannot qualify for Nationwide or Penfed those are the only 2 I wanted and could not obtain. Well add NFCU to that list of want but cannot obtain.
You mean they specifically told you that you had too many accounts? What is the magic number that they consider too many?
Yes they did not give a number but the denial was, to much available credit in both cases. PenFed does not like you to have too many girl friends! Nationwide stated the same thing so I would have apped them first if I had known but most likely those accounts would have been closed by the grantor's after opening once they pulled a soft inquiry. None of the other accounts seemed to care how many open account I had as long as they were paid! I research when to apply for cli's and keep track of them and always try and boost the limits from cli's according to the cards guidelines. Example Citi is every 3 months like clock work.
CapOne sucks. I've been with them for almost a decade and my CL has never managed to break $3k.
How much credit card or credit is considered too much?
Some internal scoring formula that involves your income and the possibility you could actually repay the money before your death.
I do not actually own any credit cards, it says on the back of each one: Property of XXXX to be surrendered upon request."
2 Cap One ($500 Each)
First Premier ($500) - Will Cancel Next Month
Amex Delta ($1000)
2 NFCU - ($13,000 Each) and I still want a CLI
Hoping to get Amex Plat next month so I can join the MFGA (My Fico Gardening Association)