How many CC trade lines do you have? What is the perfect number?

[dddewdrop]

     I have 5 right now 1 closed and 4 opened. From reading and learning here,  I figure I am going to shoot for 6. i don't really like credit cards but 6 seems to be a good number where if  I do apply for another one after having 6 well aged, my AAoA won't drop too much. I think some mortgages say like 2 or 4 is the minimum to be approved. Is it true that they require a minimum?

[09Lexie]

The perfect number depends on the individual. Why they need the cc's and whether their income/spending warrants multiple cc's. as far as mortgages,Myers they like to see 2-3 trade lines but they can also use alternative /non- traditional credit sources. To be safe though, getting a few cc's will make processing and UW a mtg app easier.

To answer your other question, I have 16 open TLs, 2 closed TLs. Whereas my DH has 7 TLs and he's fine with that number.

[dddewdrop]

Yeah unfortunately my wife's credit is a disaster. We both came from different worlds and she came from poverty and has been very sick and has been very irresponsble in the past to the extent that she has done things that were blatently illegal and thus her credit has a long way to go... Hers can get better someday. She is trying.

[tcbofade]

Oh heck, I lose count...the number I remember is that between DW and I, we have 43 active credit card accounts.

No, that isn't a typo. 

[09Lexie]

Hopefully, you can help her see the errors in her ways and get it and her back on the straight and narrow. It's an arduous task but one worth trying to accomplish.

I'm sure you'll be able to give her excellent advice!

[dddewdrop]

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@tcbofade wrote:

Oh heck, I lose count...the number I remember is that between DW and I, we have 43 active credit card accounts.

No, that isn't a typo. 

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Hmm. Yeah I guess you have enough to qualify. Credit Karma models put the optimal number at 21+ so you should each be good there..

[ElCamino]

I've got all of the CCs listed in my sig, plus a single closed CC that I closed before I ever knew anything about credit.

[jsickz32]

Look at siggy

[dddewdrop]

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@ElCamino wrote:

I've got all of the CCs listed in my sig, plus a single closed CC that I closed before I ever knew anything about credit.

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Nice list.. nice limits....

[dddewdrop]

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@jsickz32 wrote:
Look at siggy

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  You too.....