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When I reached 20 cards... lol
Nah, When I was approved for American Express. It was a huge achievement for me, However it took me nearly 3 years to get to this point!
I probably won't apply for anymore credit cards/store cards unless something catches my eye, But this won't be for a while as I'm in the garden trying to age my history and drop those inquiries.
I think I'm done with obtaining more credit. One year ago, I had a $500 Cap One card, $750 reserve LOC at US Bank, and a motorcycle loan with HSBC/Cap One. Since then, I've obtained about 12 new CC accounts with a total CL over $90k, financed a new Harley Davidson, and financed 2 used vehicles. Utilization currently 10% and going down...I carry balances on 3 CC accounts.
I did all that in preparation to buy a house in the summer of next year. I don't see the need for more credit. My cards are ok....I'm not somebody that chases rewards so much. Just nice limits are good for me.
I went a good 10yrs living modestly and with practically no credit...life changes, a job change and personal changes, did the trick.
I've put a "cap" of 12 cards max. on myself and currently have 8. I'll hopefully stop when I have: Macy's AMEX (I currently have Macy's store card), 1 Citi Visa/MC, 1 Chase Visa/MC, and EITHER an AMEX revolver OR one of Capital One's upper tier cards.
if i dont get the invite to centurion...then ill never be finished
Not settled yet, I'll stop once when I acquire a Citi Card with Travel Rewards(though I have a Shell Gas Card) , a real Amex, Chase and Discover cards. Until then clear a path--------------Hard Work and Dedication with a little Malcom X (by any means necessary)
For those of you who have moved clearly into the prime world, how long did it take before you:
1. Settled down with the credit cards you have and stopped chasing after credit
My senior year in college when I actually took an interest in learning about credit. PC'd BOA Student Platinum Plus to Privileges Cash Rewards and applied for the AMEX Platinum. These are the only two personal cards I ever see myself having, unless I can replace the Platinum with a Centurion one day.
2. Started receiving pre-approval offers for prime cards?
Roughly after a year of credit history.
Interesting question.
@DBB wrote:For those of you who have moved clearly into the prime world, how long did it take before you:
1. Settled down with the credit cards you have and stopped chasing after credit
My senior year in college when I actually took an interest in learning about credit. PC'd BOA Student Platinum Plus to Privileges Cash Rewards and applied for the AMEX Platinum. These are the only two personal cards I ever see myself having, unless I can replace the Platinum with a Centurion one day.
2. Started receiving pre-approval offers for prime cards?
Roughly after a year of credit history.
1
TU 715 No apps to 05/13 cash+ 5/13!!! 738 TU CSP April 13!!!CSP approved May 13!!!
Never! I'm after the elusive Amex Black & JP Morgan Palladium card so...
j/k I don't think I'll ever be able to get either one since my spending/income isn't high enough. lol
800+ and 4-5 "ultimate" cards for my spending pattern and I'm set.