No more credit cards or credit limit increases?!

[SouthJamaica]

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@Anonymous wrote:

I've stopped applying for credit cards for about 5-6 weeks now but I didn't realize I could be denied for credit limit increase too! I guess I should just leave all my cards alone but it's getting quite boring. I'm normally waiting for my mail when I receive a new card. I guess it was a hobby for me and now I don't have that hobby anymore. I have a total of 17 credit cards and now I need new hobbies lol 

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I know the feeling, and MyFICO is definitely the culprit

[longtimelurker]

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@kdm31091 wrote:

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@Anonymous wrote:

In addition to what others have said, I would encourage you to stop viewing credit as a hobby.  If you continue to do so you will find yourself in financial difficulty before long.  If you really have an issue with stopping applications, etc, the first step that I would suggest is to not visit credit sites like this that discuss new cards all the time.

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Agreed. Applying for credit as a hobby is not a sustainable (or good) hobby IMO. Sure, it makes sense to build a set of cards that works for you and your spend but this doesn't include constant applications.

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Yes, this forum is certainly not a 12 step program for credit addiction!   Apart from new cards, you also see people with scores like [generic you] getting a card that looks "interesting", making you think "Mmm, I could get that" and "I will just look at the site" and, then there's that big "Apply Now" link, and they wouldn't show that if they didn't want you to click would they.....

[driftless]

One of the things that you can do in the garden is join the monthly Garden Club thread. Another thing that you can in the garden is close duplicative and unnecessary cards. Just saying............   

[red259]

So I have a citi AA plat card which I had reduced my credit line down to 2k in order to app for some other citi cards. They gave me an auto CLI to 3k. Today I check my email and I see they will give me a CLI without a credit pull. I figured what the heck since I'm not planning on apping for any citi cards in the near future and if anything I will be closing some large credit lines down the line. I got back a 1.5k CLI. Obviously not much but I'll take it. I don't really bother going for CLIs anymore since I have quite a bit and with some lenders I feel like I am near the overall ceiling. If they are going to contact me and offer one without a credit pull well that is a different story.

[Anonymous]

Here's my 100% honest opinion on applying for new cards: the only thing more addicting than apping is gardening, and the rush I got from being approved is easily matched by the rush I get when I see my fico scores go up by a point or 5 every month. The first few months of gardening was definitely difficult (I fell off the wagon once around this time before), but once I started to see actual positive results from it, it was easy-street. I can read through dozens of "New Awesome Card" and "Approved!" threads now, and I won't be even remotely tempted to app. Not sure if it's the same for everyone though. Maybe I'm just an extreme example of a creature of habit.

[joltdude]

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@Anonymous wrote:

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@newhis wrote:

Try to lower your APRs, that's fun too 

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I will look into this !! Can I lower my store cards interest rate too?

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Nope... Store cards usually DO NOT entertain APR reductions.... 

When it comes to APR, what you see is what you usally get...

Now a bit of apper's regret is setting in and the horse is out of the barn...

Do not pass GO.. Do not collect a signup bonus... Go directly to the Garden.....\

[Anonymous]

I recommend staying out of the approval side of the boards. It definitely helps to keep the itch away.

[Anonymous]

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@Anonymous wrote:

I've stopped applying for credit cards for about 5-6 weeks now but I didn't realize I could be denied for credit limit increase too! I guess I should just leave all my cards alone but it's getting quite boring. I'm normally waiting for my mail when I receive a new card. I guess it was a hobby for me and now I don't have that hobby anymore. I have a total of 17 credit cards and now I need new hobbies lol 

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I can definitely relate. I've been on a bit of an app spree in the last 5-6 months. After having poor credit to now being in a position to be approved for premium cards is def a great feeling.  When I knew I had a card coming in the mail, I would go home on my lunch break to see if it had arrived. (Crazy.. I know).

While I don't need necessarily consider applying for the credit cards themselves as my new hobby.... using them to collect points is def my new hobby. My boyfriend and I sat down today to see what trips we have coming up in the next 12 months and have put together a plan to use our everyday spend to make these significantly cheaper by using points and travel credits. So this is def fun for us and our new hobby. 

[Anonymous]

While I agree that making app sprees a hobby is a bad idea, there are other ways to make the credit card game a hobby that are beneficial. Like GDanzy, you can analyze your spending to make sure you are maximizing your reward earning potential. You can also determine long term goals and set a gameplan on how to meet them. When you know what your plan is, it makes it easier to avoid poor choices.