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Senior Contributor
creditwherecreditisdue
Posts: 4,923
Registered: ‎04-19-2009
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Re: Putting my 11 cards to rest until March-UPDATE- I cannot do this.


DI wrote:

smallfry wrote:
I slap it all on one card and do the same with another card the next month. You're spinnin' yer wheels son.

You're not being creative with the use of your credit.  You playing things safe...and that's no fun!  Since banks does monthly AR's, I thought I could give them something new to look at monthly.  And they get to see that I can juggle a plethora of accounts, not miss a single payment and PIF.  Now that is what you call a complete credit picture(hustle and bustle of credit use).

Message Edited by DI on 01-02-2010 03:03 PM

None of my banks are doing monthly AR's. Some quarterly and some even less often.

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DI
Posts: 5,744
Registered: ‎01-28-2008
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Re: Putting my 11 cards to rest until March-UPDATE- I cannot do this.

Capital One specifically have conducted an AR on my account every month.  And they still haven't raised my credit limit.  I guess it's a matter of time before it happens.  One of us have to give in.  I am not carrying a second card with them if that's what they're waiting on.  

 

 

Senior Contributor
creditwherecreditisdue
Posts: 4,923
Registered: ‎04-19-2009
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Re: Putting my 11 cards to rest until March-UPDATE- I cannot do this.


DI wrote:

Capital One specifically have conducted an AR on my account every month.  And they still haven't raised my credit limit.  I guess it's a matter of time before it happens.  One of us have to give in.  I am not carrying a second card with them if that's what they're waiting on.  


This isn't the end of your love affair with Cap1, is it? BTW - That's probably exactly what they want. They're like that...

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DI
Posts: 5,744
Registered: ‎01-28-2008
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Re: Putting my 11 cards to rest until March-UPDATE- I cannot do this.


creditwherecreditisdue wrote:

DI wrote:

Capital One specifically have conducted an AR on my account every month.  And they still haven't raised my credit limit.  I guess it's a matter of time before it happens.  One of us have to give in.  I am not carrying a second card with them if that's what they're waiting on.  


This isn't the end of your love affair with Cap1, is it? BTW - That's probably exactly what they want. They're like that...


No way!  I have nothing but luv for Cap One and may even decide to work for them oneday.  They kept me during my hardship in 2004 when Discover, MBNA,  GTE Visa and Citi all quickly dropped me.  Plus, it's my next to the oldest card.

Regular Contributor
-RED
Posts: 231
Registered: ‎08-07-2009
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Re: Putting my 11 cards to rest until March-UPDATE- I cannot do this.

Well I don't agree because I think having to many cards in the first place is the real bad idea.

 

Score aside, if they are not needed, then why have them...

 


 

-800 or Bust...!
Senior Contributor
creditwherecreditisdue
Posts: 4,923
Registered: ‎04-19-2009
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Re: Putting my 11 cards to rest until March-UPDATE- I cannot do this.


-RED wrote:

Well I don't agree because I think having to many cards in the first place is the real bad idea.

 

Score aside, if they are not needed, then why have them...


If you had been carrying three CC's, issued one each by Citi, Chase and BofA, what are the chances that you would be totally dissatisfied with one or more of them at this very moment (probably because they punked you)? Pretty darn high. The point is diversification and it is a very important consideration. Either diversify your credit portfolio or suffer when the issuers determine your fate. It's up to you.

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DI
Posts: 5,744
Registered: ‎01-28-2008
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Re: Putting my 11 cards to rest until March-UPDATE- I cannot do this.


creditwherecreditisdue wrote:

-RED wrote:

Well I don't agree because I think having to many cards in the first place is the real bad idea.

 

Score aside, if they are not needed, then why have them...


If you had been carrying three CC's, issued one each by Citi, Chase and BofA, what are the chances that you would be totally dissatisfied with one or more of them at this very moment (probably because they punked you)? Pretty darn high. The point is diversification and it is a very important consideration. Either diversify your credit portfolio or suffer when the issuers determine your fate. It's up to you.


 


creditwherecreditisdue wrote:

-RED wrote:

Well I don't agree because I think having to many cards in the first place is the real bad idea.

 

Score aside, if they are not needed, then why have them...


If you had been carrying three CC's, issued one each by Citi, Chase and BofA, what are the chances that you would be totally dissatisfied with one or more of them at this very moment (probably because they punked you)? Pretty darn high. The point is diversification and it is a very important consideration. Either diversify your credit portfolio or suffer when the issuers determine your fate. It's up to you.


+1  I echo those thoughts.   

Regular Contributor
-RED
Posts: 231
Registered: ‎08-07-2009
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Re: Putting my 11 cards to rest until March-UPDATE- I cannot do this.

I'm starting to get this mindset, but I'm not in a big hurry to get there, but I get it, I really do!

-800 or Bust...!
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haulingthescoreup
Posts: 28,098
Registered: ‎04-01-2007
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Re: Putting my 11 cards to rest until March-UPDATE- I cannot do this.


-RED wrote:

I'm starting to get this mindset, but I'm not in a big hurry to get there, but I get it, I really do!



You and I are probably headed toward the middle ground. I got a bunch of new cards (killing my AAoA) in order to establish multiple clean tradelines to "dilute" the effect of past lates, and it worked. But after a year or so, it was obvious that it was going to be a PITA to keep them all happy. Plus with time, it was obvious which cards would be the duds.

I figure that in the end, I'll wind up with maybe 6 cards --maybe 3 CC cards (including non-CC USAA), 1 or 2 bank cards, and 1 or 2 store cards. That will be enough to maintain my total CL, let me use them for various rewards, and keep my sanity.
* Credit is a wonderful servant, but a terrible master. * Who's the boss --you or your credit?
FICO's: EQ 781 - TU 793 - EX 779 (from PSECU) - Done credit hunting; having fun with credit gardening. - EQ 590 on 5/14/2007
Super Contributor
DI
Posts: 5,744
Registered: ‎01-28-2008
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Re: Putting my 11 cards to rest until March-UPDATE- I cannot do this.

Out of my 11 cards, the GM HSBC card would be the first to go followed by the Sears' card.   So in theory, I'm only trying to maintain 9 cards. 

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