topic Re: Too Much Too Soon? in Credit Cards

Too Much Too Soon?

Nyrell — Sat, 26 Nov 2016 21:57:03 GMT

Does anyone have any insight to when opening new accounts can end up causing some creditors to reduce limits or close accounts, which I've heard happens with a fair amount of frequency? Thing is, I just received a pre-approved Marvel Mastercard and I'd love to accept that card which has great rewards.

I am at 9% usage. EXP - 746 TU - 755 EXP - 747

No derogatories ever. Oldest TL with Discover since 1999. No mortgages.

In 2016 I have opened the following:

Mar: Avant personal loan

May: MBZ Auto Lease

May: Citibank Simplicity Mastercard

June: Citibank Costco Visa

July: Lending Club personal loan

Sept: Chase Sapphire Visa

Nov: Bank of America Auto Loan

Thanks for your insights and opinions and Happy Holidays!!

Re: Too Much Too Soon?

Anonymous — Sat, 26 Nov 2016 22:21:54 GMT

It depends on your profile. I have opened and closed over 20 revolving credit cards over the past year. I even closed Barclay cashforward with a 6k cl and then turned around and applied and was approved for the ring card 3 months later.

I am surprised Chase, my second card opening hasn't AA'd me. They even approved me for the SLATE last month and I think I am near 20/12.

AA could hit me at anytime from Barclay or Chase I suppose.

My attitude would be their loss if they AA me.

So it is really is tough to say.

My profile is $146,550 total credit. I have 2% reporting across the board. 2 personal loans (sofi and dcu) and an auto loan (dcu)...No baddies, no lates. just a lot of new accounts and inquiries.

Re: Too Much Too Soon?

Anonymous — Sat, 26 Nov 2016 22:16:19 GMT

You would most likely get a very nice SL on a Marvel card with that TU score.

Re: Too Much Too Soon?

Nyrell — Sat, 26 Nov 2016 22:23:25 GMT

Donny10, thanks.

What's an "SL"?

Re: Too Much Too Soon?

Anonymous — Sat, 26 Nov 2016 22:24:18 GMT

@Nyrell wrote:
Donny10, thanks.

What's an "SL"?

Starting Line. Initial Credit Line.

Re: Too Much Too Soon?

Anonymous — Sat, 26 Nov 2016 22:25:58 GMT

@Anonymous wrote:
It depends on your profile. I have opened and closed over 20 revolving credit cards over the past year. I even closed Barclay cashforward with a 6k cl and then turned around and applied and was approved for the ring card 3 months later.

I am surprised Chase, my second card opening hasn't AA'd me. They even approved me for the SLATE last month and I think I am near 20/12.

AA could hit me at anytime from Barclay or Chase I suppose.

My attitude would be their loss if they AA me.

So it is really is tough to say.

My profile is $146,550 total credit. I have 2% reporting across the board. 2 personal loans and an auto loan...No baddies, no lates. just a lot of new accounts and inquiries.

OP you should be good as I am like Donny10 with about 20/12. Good Luck if you apply.

Re: Too Much Too Soon?

BirchBarlow — Sat, 26 Nov 2016 23:13:51 GMT

@Anonymous wrote:
It depends on your profile. I have opened and closed over 20 revolving credit cards over the past year. I even closed Barclay cashforward with a 6k cl and then turned around and applied and was approved for the ring card 3 months later.

I am surprised Chase, my second card opening hasn't AA'd me. They even approved me for the SLATE last month and I think I am near 20/12.

AA could hit me at anytime from Barclay or Chase I suppose.

My attitude would be their loss if they AA me.

So it is really is tough to say.

My profile is $146,550 total credit. I have 2% reporting across the board. 2 personal loans (sofi and dcu) and an auto loan (dcu)...No baddies, no lates. just a lot of new accounts and inquiries.

What do you mean by AA?

Re: Too Much Too Soon?

Anonymous — Sat, 26 Nov 2016 23:37:58 GMT

@BirchBarlow wrote:
@Anonymous wrote:
It depends on your profile. I have opened and closed over 20 revolving credit cards over the past year. I even closed Barclay cashforward with a 6k cl and then turned around and applied and was approved for the ring card 3 months later.

I am surprised Chase, my second card opening hasn't AA'd me. They even approved me for the SLATE last month and I think I am near 20/12.

AA could hit me at anytime from Barclay or Chase I suppose.

My attitude would be their loss if they AA me.

So it is really is tough to say.

My profile is $146,550 total credit. I have 2% reporting across the board. 2 personal loans (sofi and dcu) and an auto loan (dcu)...No baddies, no lates. just a lot of new accounts and inquiries.
What do you mean by AA?

Adverse Action.

When a creditor reduces your credit line or closes your account with or without warning or notice.

A lender does this when they feel you are a risk. Or for whatever reason they feel like it.

Re: Too Much Too Soon?

UncleB — Sun, 27 Nov 2016 05:01:48 GMT

Here's a helpful link to help out with acronyms and abbreviations:

http://ficoforums.myfico.com/t5/User-Guidelines-General/Common-Abbreviations/m-p/88458#U88458