@namvet wrote:Ok here is a more official answer about pyramiding debt/credit. Source info.com "lenders scan cc apps for pyramiding debt. The term pyramiding debt means two things: Too many credit cards/too much credit available. Lenders see pyramiding debt as a potential scheme to spread credit over all the credit cards, keeping specific balances low, but spending more than their incomes." I may have over simplified my first post on this subject.
I don't actually think you were wrong the first time. The applications/adding new accounts are not pyraminding debt. It's the actual adding of debt to pay off previous debt. A sudden surge in applications/addition of new accounts can be a warning sign that you might be pyramiding debt, but just applying for new credit is not pyramiding.
Starting Score: ~500 (12/01/2008)