will current lenders freak out if they see 5 new cards in less than 6 months?

[Anonymous]

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@Anonymous wrote:
With opening so many new accounts have you guys received any CLD's or are the CL's they're giving you super low??

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Negative. I just got my 61 3x CLI with AMEX 8 days ago. I have also received CLIs on most of my new accounts already, I assume because of the spending I put through on certain cards. Diners gave me 40K beginning of November, US Airways World MC gave me 20K starting CL about 2 weeks ago, Citi AAdvantage Business gave me 25K about a week ago (I know one is 20K and one is 25K, might be other way around). Cit gave me a tiny 2K starting limit on my Thank You Premier when I opened it. I called to tell them that I wanted to close it because the limit was so small after they gave me my 25K Citi AA card and they bumped both my Double Cash and Citi TY Premier to 12.5K each. When I apped my cards I used 50% of my income and once I got all my cards I went back in and updated my income profile to full income and they have all been very generous. 

Edited to add: Back in October I received some small starting CLs but those accounts have been bumped up significantly since. Except for Discover which I don't carry in my wallet anymore. I spent $92 on that card the day I got it, paid it off before the statement cut and it won't see daylight again. I haven't been very impressed by them. 

[NRB525]

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@Anonymous wrote:
With opening so many new accounts have you guys received any CLD's or are the CL's they're giving you super low??

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PenFed is a low limit, secured actually, because I had to pay them to give me a card. For the others, no CLD, limits are reasonable. I got US Bank Travel Rewards $17k, Diners Premier $20k, US Bank Fred Meyer $10k and now Chase Marriott $6k in the last half year, and no changes on other cards. It probably helps Diners is slow to or not at all reporting. 

But as someone else said, 2015 is a new year

[Anonymous]

Nice to read. I'm super concerned about applying for more cards because I just got the citi diamond preferred card with a generous 10k limit (I'm only 25). I have about 5 HP's in the last year but for other things than a CC. I guess I shouldn't be too worried after all...

[Anonymous]

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@Anonymous wrote:
Nice to read. I'm super concerned about applying for more cards because I just got the citi diamond preferred card with a generous 10k limit (I'm only 25). I have about 5 HP's in the last year but for other things than a CC. I guess I shouldn't be too worried after all...

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I am not trying to encourage people to go nuts. I just want people to know that not everything you do will result in AA from a bank. I am only 30 and I opened my first credit card in May 2014, then opened 9 accounts in October 2014 and the other 4 or 5 since. Prior to opening that first CC, all I had on my reports was a 36 month auto loan from when I was 18-21 all payments were on time. I wanted to open all the credit cards I wanted before that old tradeline dropped off in the end of 2015. So far I have only been getting better APRs and larger CLs with each new account. I assume it will keep trending in that direction. There aren't really any cards that I want in addition to my current fleet. I would definitely take a Centurion if I was invited, but then I wouldn't be able to keep pushing spending through my other cards. So for now, I'm good. 

[elim]

10 accounts in 14' (5 were applied for and approved on october 10th)

did my spends... got my bonuses... have $400 left on a 0%... no problems here

i have ran about 10k thru these 5 cards in 3 months and still have not paid interest on a CC to this day (though cutting it close with the x-mas spend)

[Anonymous]

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@NRB525 wrote:

Which cards do you have? Which cards do you really want for the long term? Does the AMEX Hilton fit a long term plan, or it's just a "do it for the rewards and because you can for backdating" decision? Do you care if Chase does AA on the personal card?

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The Amex Hilton is exactly a "do it for the rewards and because you an for backdating" decision. 

But then again all my credit cards are acquired and used for rewards as the main reason. I have never carried a balance nor paid less than if full. I have no plans on getting a mortgage or a car loan in the next 4 years at least. 

For the long term, I want the US Bank Carlson which I planned to apply for 6 months after my last visible app (US Bank shouldn't be able to see the Hilton Amex inquiry or new account), in may 2015. I know that is a super hard to get card for someone with a short history. But it seems like a no brainer for traveling to Europe, the fact that it essentially has a negative annual fee and for the +1 night benefit. It also offers sufficient ongoing spend rewards that I would actually want to use it for daily non-category spend instead of my 2% card. Also probably a bunch more Chase cards (Southwest, CSP, Ritz, BA) mainly for the sign up bonus, which are unrivaled in my opinion. 

I would be concerned if Chase took adverse action from the point of view that if they take my UR points away it would lose ~ 1 month's pay in rewards equivalents, and it might affect me getting future accounts with them.

I did not run high spend on any new cards. Highest was my Chase Business which required 5k spend to get the sign up bonus. Max I ran was 2.5k per month, and I paid most of the balance before the statement date, thinking that maybe that will show Chase that I can afford it no problem (not so sure that was the best idea but whatevs). I do plan to put a 3-4k single purchase on my new Citi card. I hope it doesn't freak them out, since it is a legitimate purchase (diamond jewelry). 

So i guess now that you mention it, here is another question: would these future plans for getting other (better) accounts be helped or hurt by getting the AMEX? I should also note that I currently have ~110% of yearly income in available credit, although I don't think that matters. 

[Anonymous]

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@Anonymous wrote:

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@Anonymous wrote:
Nice to read. I'm super concerned about applying for more cards because I just got the citi diamond preferred card with a generous 10k limit (I'm only 25). I have about 5 HP's in the last year but for other things than a CC. I guess I shouldn't be too worried after all...

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I am not trying to encourage people to go nuts. I just want people to know that not everything you do will result in AA from a bank. I am only 30 and I opened my first credit card in May 2014, then opened 9 accounts in October 2014 and the other 4 or 5 since. Prior to opening that first CC, all I had on my reports was a 36 month auto loan from when I was 18-21 all payments were on time. I wanted to open all the credit cards I wanted before that old tradeline dropped off in the end of 2015. So far I have only been getting better APRs and larger CLs with each new account. I assume it will keep trending in that direction. There aren't really any cards that I want in addition to my current fleet. I would definitely take a Centurion if I was invited, but then I wouldn't be able to keep pushing spending through my other cards. So for now, I'm good. 

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With the fee they charge for a Centurion now, I wouldn't take it. Maybe if the AF was still $1,000 and no Initiation fee.

[Anonymous]

Also thanks everyone for the replies and advice! 

[Anonymous]

I hear you on the AF. I have some friends that are quite high up in the hospitality world and from what they've said: they seem to really hand out some ridiculous freebies and upgrades when the front desk sees a Centurion. Numerous hotels (Hilton- Waldorf Astoria specifically) just offer them ridiculous upgrades and dining perks outside of what AMEX promises cardholders already. If I paid for a 650 a night for a king bed room on 5th avenue and they gave me a corner suite at the same price, it adds up value quickly. If that happened twice it would cover the fee. It is a risk because it isn't guaranteed, but it would be sweet if it worked out that way. If I could only use it for personal though, I wouldn't have enough spending to keep it more than one year anyway.

[red259]

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@TRC_WA wrote:

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@Anonymous wrote:
The biggest issue wirh adding new accounts and AA is when you go and put high utilization on most or all of them immediately.

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That.  ^

I added 4 new accounts the last week of 2014 after gardening a year.

I'm not worried in the slightest... when you read about Barclay and other banks doing AA it's always something that involves UTI or involves a lot more than 4 accounts.

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Four accounts after a year of gardening is not much. I'm going to do four accounts this cycle after six months in the garden, so it will be a total of six personal cards and one biz card within a year.