Dilemma: I have 6 CC (including 1 store, 1 gas) and a few months ago in the concorduser center I vowed to not app any more after getting said cards. However, Kohl's has been whispering sweet nothings into my ear and I'm beginning to be swayed. So, do I app or not?
Pros of apping:
1. I want to
2. In 2 weeks I will be going on a planned shopping spree and that 10% off might save me some pretty good money
3. I'm not considering any other cards and would REALLY be done after this one
4. The inq wouldn't hurt me since I'm not getting a house/car for several years
1. I promised myself I wouldn't
2. I don't need any more credit
3. I'm not sure if adding a new CC would cause AA on my other accounts
4. I think my credit mix looks pretty good as-is
There you have it. What do I do?
If you can PIF the shopping spree or there is a teaser rate, get the card. If you are going to open the card to finance the shopping spree, don't get the card, and don't do the spree.
If you can PIF - 10% on a spree can add up to real money. Your FICO will come back, always trade excess FICO for cash when you can.