@Anonymous wrote:@UncleB wrote:
This being said,
All I ask for is that same respect in return.
@grillandwinemaster wrote:
if anybody disrespects Uncle B, there going to have to deal with me!😠 Lol
@humuhumunukunukuapua'a wrote:
Agree 100%, grillandwinemaster. Disrespect can mushroom out of control on myfico at times, and UncleB is one of the nicest, most positive, and most helpful on this board. He is excellent at keeping a positive direction when things start to spiral negatively.
+1
@grillandwinemaster wrote:
@UncleB wrote:I continue to post in the 'Approvals' section since I believe my data points might be helpful to others on the forum who might have a similar credit profile (my approval posts can be borderline 'wall of text' with the amount of detail I try to provide). Those who don't find my approval threads useful don't have to read them.
Your data points are most useful. Data points is precisely the reason we are encouraged to make approval posts. There's been many times that I search the approval boards for specific data points on a specific credit product. Your posts are always useful.
This being said,
All I ask for is that same respect in return.
if anybody disrespects Uncle B, there going to have to deal with me!😠 Lol
+1
@tacpoly wrote:
I generally don't care how many other people have. However, I do question the wisdom of a rebuilder going on a (store) card app spree. I would think that having the chance to do credit over again, careful thought and planning would be the approach.
Excellent point! If your a veteran credit "guru" do as you please. However, rebuilders do well to stand back and garner the wisdom and experience of those that have been there, done that, and own the t- shirt!
I hurt my AAofA back in the day when I went over board with store cards. Fortunately for me, I did manage to stay away from the SCT. But that was ONLY because I couldn't get the stupid web site to "read" me properly, NOT because I showed wisdom and restraint on my part!
When rebuilding, I will definitely claim "Less is More" to any rebuilder that asks for guidance and direction and is willing to listen.
@grillandwinemaster wrote:It seems that in the past, going back a year or two, there was a definite trend on MyFico where more was better, in regards
to open credit card accounts.
Is it just me, or has anyone else noticed a reversal of trends in which "less is more" is gaining momentum? It appears
to me that more and more members are by choice, reducing there portfolio holdings.
I recall some members being very active, that definitely were of the more is better mindset. I
a few members held credit card accounts that numbered close to the 100's?? It appears that you don't hear as much from some of
those members. I wonder if they have just lost interest, or if there hobby "got them in trouble" in some form or fashion?
Has anyone else noticed this "less is more" movement/trend? What are your thoughts on the
"MORE IS BETTER," or "LESS IS BETTER" philosophies? I'm not discounting either philosophy, just wanting input from both sides.
It's definitely true of me that when I started on this forum I was in an expansion mode, and that now I am (or should be) in a pruning or maintenance mode.
But I think it was really my own personal saga rather than MyFICO Forum groupthink that led me to expansion and then retraction or maintenance.
-I wanted to build good credit scores and good credit availability
-I was given a misleading impression by Credit Karma with its Vantage 3.0 algorithm that the more revolving accounts I had, the better for my score
-I also wanted to have the highest possible limits so that I would have the lowest possible utilization
-So I applied for cards, and applied for CLI's, whenever it felt like I had a shot
Since then I've learned that (a) I prefer a certain kind of card and have less use for certain other kinds of cards, (b) I prefer dealing with credit unions than banks, and (c) I prefer lines of credit to credit cards.
But how did I learn these? By experience. Only by getting various types of credit, and then checking them out, did I discover these things.
Most recently I cancelled my 3 Synchrony cards, because they were the types of cards for which I have the least use... those which are good for purchases but nothing else. I wouldn't want to use them for cash advances or carrying a balance, and they didn't offer balance transfers. They all had high credit limits (12k, 15k, and 20k) so it hurt, but I did it.
I was inspired by a recent rejection by a nice credit union on the ground that I had too much available credit.
So for me it's been a natural progression. Building credit, learning in the process, and now refining, all seem to have their place.
While it's possible that MyFICO forums may have subliminally influenced me in that regard, I'm not so sure about that, because I think throughout the time I've been here there have been plenty of 'contrarian' posts suggesting less is more; because of my own needs, they were less influential to me early on, but are more influential to me now.
@SouthJamaica wrote:
@grillandwinemaster wrote:It seems that in the past, going back a year or two, there was a definite trend on MyFico where more was better, in regards
to open credit card accounts.
Is it just me, or has anyone else noticed a reversal of trends in which "less is more" is gaining momentum? It appears
to me that more and more members are by choice, reducing there portfolio holdings.
I recall some members being very active, that definitely were of the more is better mindset. I
a few members held credit card accounts that numbered close to the 100's?? It appears that you don't hear as much from some of
those members. I wonder if they have just lost interest, or if there hobby "got them in trouble" in some form or fashion?
Has anyone else noticed this "less is more" movement/trend? What are your thoughts on the
"MORE IS BETTER," or "LESS IS BETTER" philosophies? I'm not discounting either philosophy, just wanting input from both sides.
It's definitely true of me that when I started on this forum I was in an expansion mode, and that now I am (or should be) in a pruning or maintenance mode.
But I think it was really my own personal saga rather than MyFICO Forum groupthink that led me to expansion and then retraction or maintenance.
-I wanted to build good credit scores and good credit availability
-I was given a misleading impression by Credit Karma with its Vantage 3.0 algorithm that the more revolving accounts I had, the better for my score
-I also wanted to have the highest possible limits so that I would have the lowest possible utilization
-So I applied for cards, and applied for CLI's, whenever it felt like I had a shot
Since then I've learned that (a) I prefer a certain kind of card and have less use for certain other kinds of cards, (b) I prefer dealing with credit unions than banks, and (c) I prefer lines of credit to credit cards.
But how did I learn these? By experience. Only by getting various types of credit, and then checking them out, did I discover these things.
Most recently I cancelled my 3 Synchrony cards, because they were the types of cards for which I have the least use... those which are good for purchases but nothing else. I wouldn't want to use them for cash advances or carrying a balance, and they didn't offer balance transfers. They all had high credit limits (12k, 15k, and 20k) so it hurt, but I did it.
I was inspired by a recent rejection by a nice credit union on the ground that I had too much available credit.
So for me it's been a natural progression. Building credit, learning in the process, and now refining, all seem to have their place.
While it's possible that MyFICO forums may have subliminally influenced me in that regard, I'm not so sure about that, because I think throughout the time I've been here there have been plenty of 'contrarian' posts suggesting less is more; because of my own needs, they were less influential to me early on, but are more influential to me now.
Well said, my friend. 
@UncleB wrote:
@wasCB14 wrote:
@UncleB wrote:I believe that 'less is more' as long as your needs are met. I do not believe in keeping to an arbitrary number of cards "just because".
My cards are in my signature below, and I also have Belk, Lowe's and Care Credit as well. Each and every one of my cards serves a purpose; if and when any of them stop serving a purpose they will be closed - it's not rocket science.
I continue to post in the 'Approvals' section since I believe my data points might be helpful to others on the forum who might have a similar credit profile (my approval posts can be borderline 'wall of text' with the amount of detail I try to provide). Those who don't find my approval threads useful don't have to read them.
This being said, I'm not going to knock anybody who picks an arbitrary number and decides that's their personal 'optimal' number of credit accounts. Even though that approach isn't right for me personally, there is likely wisdom in their underlying reasoning - and I'm always open to a different way of looking at things. All I ask for is that same respect in return.
I'm curious as to the purpose of the two QS cards and Delta.
The QS MasterCard is my oldest bankcard so I'm keeping it around mostly for its age. My QS Visa is newer, but has better BT offers than the QS MasterCard. I do understand how FICO treats closed accounts, but since there are many years difference between my QS MasterCard and all of my other cards and it has no AF I'm keeping it around (the QS Visa has an 'OK' credit line so there's no pressing reason to combine).
I originally got the Delta to use as a 'donor' for my BCP (at the time I was unsure if they would ever give my BCP a much-needed CLI) but I was also able to 'bank' the 30k SkyMiles I got when opening it, and of course there's the baggage fee benefit if/when I decide to fly in the next year. If my plans change and I end up not taking a flight in the next 12 months I'll probably close it, but I don't regret opening it in any case.
I can literally write a paragraph for each card I have on how useful it is to me if anybody is truly interested.
And I would totally read that!!! 
IF you do decide to publish such info... let me know! (Even though they're 'your' reasons... I have a feeling there's a chance the information contained therein could still be quite useful (to someone, perhaps).
