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Valued Contributor
Posts: 2,681
Registered: ‎06-21-2014

Re: How many credit cards do you have?


JoshNurse wrote:

It shows as having a low impact but I have a low score on the amount of accounts I have opened.

 

If I can open about 10 more cards I can reach the 22+ with my future mortgage loan.

 

I am not sure what to do Smiley Indifferent

 


Yea.. I would ignore  that Smiley Tongue


My Cards: Amex BCE: $3,000, Amex EveryDay: $12,000, Bank of America MLB cash rewards: $10,000, Chase Freedom: $9,000, Chase Amazon Visa: $1,000, Chase Sapphire: $5,000, Chase Slate: $5,000, Chase Disney Rewards: $4,000, Citi Double Cash: $3,700, Citi Thank you preferred: $7,300, Citi Simplicity: $5,200, Capital One GM card: $2,000, Capital One Playstation:$2,500, Amazon Store card: $2,850, Macy's Store Card:$500, American Eagle Store Card: $400, BestBuy Store Card: $2,000, NFL extra points card: $2,000, Discover it: $4,500
Regular Contributor
Posts: 287
Registered: ‎05-15-2013

Re: How many credit cards do you have?

6 cards. Fico around 760 across the board.


NPSL............... $20,700........... $15,200.......... $5,000............ $15,000............ $20,000
Current Scores: Equifax: 761 (Fico) TransUnion: 751 (Fico) Experian: 768 (Fico)
Established Contributor
Posts: 738
Registered: ‎09-22-2013

Re: How many credit cards do you have?

[ Edited ]

I have 8  CC which includes 2 store cards - Macys & GE Sony Card. I'm looking to add 7 more CC minus a GE Care Credit (which really isn't a CC) before the year runs out and that's it for the life of me! Current FICO EQ is 728.

Macy's AMEX $32,000| Citi $13,000| CapOne $15,000| Chase $10,500| SYNCB $27,000| Discover $3,000| BOA BBR $1,000| NASA FCU $2,500| BestBuy $3,000| Barclay $5,500| TD Bank $1,000|

Starting Score: 490
Current Score: EQ 728 (681 as of 07/30/14) EX 721 TU 735 (669 as of 07/30/14)
Goal Score: 780

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Member
Posts: 27
Registered: ‎06-16-2014

Re: How many credit cards do you have?

Not including Au accounts I have 7 cc, 4 store cards and Care Credit. Hoping to drop a few in the next 6 to 12 months. Tu 708 Ex 734
Contributor
Posts: 92
Registered: ‎05-24-2014

Re: How many credit cards do you have?

8 now, scoreatch EQ 749, Discover TU 794.

Only one I want to close is the amazon store, but it's my second oldest and I need to let everything age 3-4 years before I do that. 

Frequent Contributor
Posts: 489
Registered: ‎03-19-2013

Re: How many credit cards do you have?

That credit karma chart is really starting to bug me.  I feel like I am in school and see a D grade on my exam.  I am trying hard to make it an A. I wish they could remove that section...its making people like me have a collection of credit cards.

Valued Contributor
Posts: 1,068
Registered: ‎03-16-2013

Re: How many credit cards do you have?


JoshNurse wrote:

It shows as having a low impact but I have a low score on the amount of accounts I have opened.

 

If I can open about 10 more cards I can reach the 22+ with my future mortgage loan.

 

I am not sure what to do Smiley Indifferent

 


I don't think it is wise to base your CR on what credt karma tells you to do.

 

Why do you want so many CC is it that you think somehow you will get a higher score?  Why do you think you will get approved for al those cards anyway it is not as simple as just a credit score.  Take Barclay's they are inq sensitive.

 

 

I have 6 cards.  Citi WEMC 40k cl CSP/Freedom each with  19.4 cl a USAA MC 25k, Amex EDP 21k  and PRG.  Just closed Citi TYP 25k cl and USAA amex 25k CL.

 

Score 771

Valued Contributor
Posts: 2,681
Registered: ‎06-21-2014

Re: How many credit cards do you have?


ezdoesit wrote:

JoshNurse wrote:

It shows as having a low impact but I have a low score on the amount of accounts I have opened.

 

If I can open about 10 more cards I can reach the 22+ with my future mortgage loan.

 

I am not sure what to do Smiley Indifferent

 


I don't think it is wise to base your CR on what credt karma tells you to do.

 

Why do you want so many CC is it that you think somehow you will get a higher score?  Why do you think you will get approved for al those cards anyway it is not as simple as just a credit score.  Take Barclay's they are inq sensitive.

 

 

I have 6 cards.  Citi WEMC 40k cl CSP/Freedom each with  19.4 cl a USAA MC 25k, Amex EDP 21k  and PRG.  Just closed Citi TYP 25k cl and USAA amex 25k CL.

 

Score 771


I use Credit karma only for loose reference of my Credit nothing to take to serious. It does tell my my utilization right on there which is nice 


My Cards: Amex BCE: $3,000, Amex EveryDay: $12,000, Bank of America MLB cash rewards: $10,000, Chase Freedom: $9,000, Chase Amazon Visa: $1,000, Chase Sapphire: $5,000, Chase Slate: $5,000, Chase Disney Rewards: $4,000, Citi Double Cash: $3,700, Citi Thank you preferred: $7,300, Citi Simplicity: $5,200, Capital One GM card: $2,000, Capital One Playstation:$2,500, Amazon Store card: $2,850, Macy's Store Card:$500, American Eagle Store Card: $400, BestBuy Store Card: $2,000, NFL extra points card: $2,000, Discover it: $4,500
Frequent Contributor
Posts: 286
Registered: ‎12-01-2012

Re: How many credit cards do you have?


JoshNurse wrote:

What I do is put very small fees on each card.  For example one for netflix, one for hulu, one for my web hosting fees etc..  I can probably use about 4 cards and the rest completly automated in terms of paying them and charging them.

 

Is this even a good idea?  I see you have a much higer score than me Transmogrifying_Bee.


In the LONGER term, I don't think having too many cards will hurt your credit score.  SHORTER term, you're probably going to hurt this score by racking up too many inquiries, depending on how fast you app'd.  Also, your AAoA may take a hit initially.

In MY case, I just don't want that many cards in my cc portfolio, especially store cards.  I'd rather funnel my spending through fewer cards than try to keep every cc company "happy" with an occasional purchase.  I may miss out on the higher sale discounts a store card may offer, but that's okay for me.  Now, if you're younger and just starting out with a house, etc., I can see the benefits of, say, a Lowe's card (or such) which may extend you higher CL's and favorable payment terms.  As they say, YMMV . . . !

FICO Score 8: EQ 797 EX 783 TU 800 **** FICO Bankcard 8: EQ 818 EX 804 TU 824 **** VantageScore 3.0: EQ 821 EX 809 TU 809
TOTAL CL (6 cards): $117.0K **** INQUIRIES 2 yrs (1 yr): EQ 0(0) EX 3(1) TU 3(0) **** UTILIZ: 1 % **** GOAL: FICO Score 8: 800+

NASA FCU Rewards Visa 30K || Amex BCE 25K || Chase Sapphire Visa Signature 21.5K || PayPal Extras MC 20K ||
CITI Diamond Preferred MC 10.5K || Discover it 10K || ***** CULLED from Portfolio: 7 cards ***** GARDENING since 9-26-2014
Frequent Contributor
Posts: 489
Registered: ‎03-19-2013

Re: How many credit cards do you have?

Thanks guys!

 

I just counted my credit cards and I actually have 12...I think credit karma is not showing my newest ones.

 

So I will probably get up to 15 and then I will not get any more cards for several years.

 

Which Chase card gave you the highest CL? Any other good card recommendations?  No Barclays please I already have too many Barclays.

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