08-26-2013 03:21 PM
I applied for my first CC out of boredom when I was 21 or 22 during a roadtrip from North Carolina back to NY. I got the Cap1 Plat MC with something like a 1k limit. A few months later I decided to try for a new one and applied for the Citi Diamond Preferred. During the final step there was a technical error on their side- so I redid my application. Two brand new Citi cards arrived at my door within the week with 3k and 2k CLs. It was probably over a year since getting the Citi cards that while shopping on Amazon I noticed their $30 offer. Since what I was buying was around $30.00 I took it and was approved for a Chase Amazon CC with a 3k limit. Two Months or so ago I decided to give Amex a shot and got the Amex gold with NPSL. One week ago I applied for the Discover IT card and was approved for 5,700. Last night I apped for the Chase Sapphire (approved for 6k) and right away apped for the Barclaycard Apple Visa and was approved for a 3k limit.
I'm done applying for a while, A goal is to be approved for PenFeds CC in about a year.
1) I'm 24, My family keeps telling me I have too much credit and will hurt me in the future. Truth?
2) Can my two Citi cards be easily combined into one 5k limit card?
3) Of my cards do any stand out as good cards with frequent CLIs that I should use more/most?
08-26-2013 03:27 PM
You have opened quite a few number of accounts - but it sounds like you did a few each year. I would not that it doesn't seem like you did very much research on any of the cards - for instance, you could have apped for the chase freedom/sapphire preffered and would have gotten the pretty generous sign-up bonuses. Also, I'm assuming that you didn't get the Amex PRG with the sign up bonus either but that you got the regular gold. I don't think you have too much credit per se but that would also depend on your income. I would garden and let the accounts age a little but I would research each of your cards and see what benefits come with each card and figure out how it best meets your personal spending needs.
08-26-2013 04:40 PM
08-27-2013 01:14 AM
Thank you for the replies- especially the warm welcome
My recent applications were mostly made with the intent of getting my utilization down. I didn't care much about rewards at the time. I'm still learning...
08-27-2013 01:20 AM
welcome here... best you got started early in learning about credit...just the typical advice of being responsible with the cards you've got will help you tremendously as you get older...wish i found this place when i was 24! lol...welcome again here...
IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more
FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.