topic Re: What's the most # of new accounts you've opened in Credit Cards

What's the most # of new accounts you've opened

pazuzu — Tue, 10 Feb 2009 23:31:14 GMT

in the shortest amount of time?

I'm not confessin' b/c Suze might be lurking, and she would scold me!

Re: What's the most # of new accounts you've opened

Red1Blue — Tue, 10 Feb 2009 23:36:21 GMT

I opened little more than 27 or 28 accounts in a period of 12-18 months.

Re: What's the most # of new accounts you've opened

pazuzu — Tue, 10 Feb 2009 23:43:25 GMT

Ok, since Suze has better thing$ to do:

I have 6 new TLs since October!

BUT I needed more positives reporting to balance out the negs from my BK that will show until 2011.

Message Edited by pazuzu on 02-10-2009 03:43 PM

Re: What's the most # of new accounts you've opened

Anonymous — Tue, 10 Feb 2009 23:41:49 GMT

11 new accounts in 6 months.

Re: What's the most # of new accounts you've opened

haulingthescoreup — Wed, 11 Feb 2009 00:20:58 GMT

5 on one day. (Bank of America, Chase, Home Depot store (Citi), PenFed Visa and Penfed auto loan.) That was 2/16/08.

Then Barclays on 3/10, American Express on 3/19, and HSBC Best Buy on 4/22.

Then I stopped!

That was my credit hunting; now I'm credit gardening, including having pruned the Barclays card at month 7. And I did plan all that out, btw, for about 6 months. Well, except the Barclays and BB. Live and learn!

Re: What's the most # of new accounts you've opened

pazuzu — Wed, 11 Feb 2009 00:44:31 GMT

At least you had a Barclays card to prune in the first place!

After shredding dozens of ITA letters from them last year, I did a cold online app for an Emigrant Direct card and got declined!

My BK was the only reason cited.

Re: What's the most # of new accounts you've opened

MattH — Wed, 11 Feb 2009 01:30:32 GMT

@pazuzu wrote:
in the shortest amount of time?

I'm not confessin' b/c Suze might be lurking, and she would scold me!

I don't think I've ever opened more than two new accounts in any three-year period of my life.

Re: What's the most # of new accounts you've opened

Anonymous — Wed, 11 Feb 2009 01:35:13 GMT

I guess I'm a wuss. I opened 2 accounts within three days, or three accounts within 4 months.

I guess I would have been more adventurous a year ago, but in the current climate, any app spree looks a bit suicidal. The two accounts were Amex and Discover, and the third was Chase. This, combined with my thin credit file, makes me tread lightly.

Re: What's the most # of new accounts you've opened

fused — Wed, 11 Feb 2009 01:39:24 GMT

I opened 2 CCs (CITI and Discover) and 1 unsecured LOC (BoA) between 07/07 - 02/08

Re: What's the most # of new accounts you've opened

haulingthescoreup — Wed, 11 Feb 2009 01:39:43 GMT

I'm glad I got mine over with when I did. I had a seriously thin file, and too many 30 days. All that new stuff was brutal at first, but it's helping in the long run, especially in diluting the proportion of accounts with baddies.

Re: What's the most # of new accounts you've opened

Red1Blue — Wed, 11 Feb 2009 01:41:48 GMT

@Anonymous wrote:
The two accounts were Amex and Discover, and the third was Chase. This, combined with my thin credit file, makes me tread lightly.

You have prime cards. You dont need any more cards. Perhaps you could add Citi Visa or MC. May be you could add one or two store cards for credit mix. That is it after that go for CLI's and you'll scores will boost soon.

Re: What's the most # of new accounts you've opened

Anonymous — Wed, 11 Feb 2009 02:00:41 GMT

5 cards and one car in a year.

Re: What's the most # of new accounts you've opened

Anonymous — Wed, 11 Feb 2009 16:44:20 GMT

@Red1Blue wrote:
You have prime cards. You dont need any more cards. Perhaps you could add Citi Visa or MC. May be you could add one or two store cards for credit mix. That is it after that go for CLI's and you'll scores will boost soon.

Not to derail this thread, but I have a relatively low income, so my wishlist is short. I've got the Costco Amex (all other Amex cards are uninteresting to me), a Discover More, and this Chase Amazon with an atrocious CL. My shortlist contains, maybe, a Kohl's and/or Macy's store card (perhaps around Christmas '09), and perhaps the Penfed or Citi Driver's Edge. That's about it.

Message Edited by Ulan on 02-11-2009 08:44 AM

Re: What's the most # of new accounts you've opened

mamalawery — Wed, 11 Feb 2009 04:20:17 GMT

since i was an app addict i applied for more, but got 4 in 6 months from june to dec 2008. no more for me. once i get my score up to where i can get a prime card that has a lrager crl than all of them together i will be glad. but no more app's for atleast 1 yr. too many inquires.

Re: What's the most # of new accounts you've opened

Equinox — Wed, 11 Feb 2009 06:23:03 GMT

Three cards in two months. Bofa, AMEX & Citi.

Re: What's the most # of new accounts you've opened

marty56 — Wed, 11 Feb 2009 10:45:54 GMT

One credit card and one autoloan in the past 4 years. Both last year.

Re: What's the most # of new accounts you've opened

Anonymous — Wed, 11 Feb 2009 12:48:12 GMT

6 cards in 3-4 months with $81,000 in 0% BT's.

Re: What's the most # of new accounts you've opened

MattH — Wed, 11 Feb 2009 12:50:38 GMT

@Anonymous wrote:
6 cards in 3-4 months with $81,000 in 0% BT's.

Do you mean you had $81K total balances to transfer, or do you mean multiple smaller BTs that added up to $81K by moving a smaller amount around many times?

Re: What's the most # of new accounts you've opened

Anonymous — Wed, 11 Feb 2009 13:16:00 GMT

@MattH wrote:
@Anonymous wrote:
6 cards in 3-4 months with $81,000 in 0% BT's.
Do you mean you had $81K total balances to transfer, or do you mean multiple smaller BTs that added up to $81K by moving a smaller amount around many times?

- BOA Visa Pet (me) - I app'ed - transferred almost all BOA CL's to card - BT'ed at 0% 0 fee whole $30K. They deposited whole thing in my checking - 6mths 0% - paid this back yesterday

- BOA Visa Pet (wife) - I/She app'ed - transferred almost all BOA CL's to card - BT'ed at 0% 0 fee whole $10K. They deposited whole thing in out checking - 6mths 0% - need to pay back in April

- Chase Disney - I app'ed - transferred almost all Chase CL to card - for a $75 fee I used one of there starter checks to deposit 29K in checking - 12 mth 0% - need to pay back in July

- WaMu Visa ESPN (me) - I app'ed - $10k CL - BT'ed at 0% 0 fee whole $10K. I BT'ed to my Discover card which is my day-to-day card. Then I requesed a refund from Discover of the overage - took about 3 weeks - 6mths 0% - paid this back January

- WaMu Visa ESPN (wife) - I/She app'ed - $2k CL - BT'ed at 0% 0 fee whole $2K. I BT'ed to my Discover card which is my day-to-day card. That $2K is about 1 mth worth of charges so no refund requested - took about 3 weeks - 6mths 0% - I pay this back next week.

- Discover Business - I app'ed and was denied - too many Apps and utilization too high.

I have been on hiatus since the denial. I will be active again shortly.

Couple notes - always app you and spouse seperate. I claim my income as my own and my wife can claim it on most apps as other household income - thus we double out debt to income ratio. Also - I had HELOC'ed our home and paid off all of our 30yr mortgage with the proceeds thus giving me a better rate - but at variable interest. I took the proceeds from the BT's and put it against the HELOC - thus my whole home is currently financed at 0%. When the BT's come due I just reborrow the HELOC and pay it back. Excess BT money is put in Etrade. I was earning interest, now I am even, will start paying HELOC interest in April.

Also - I do confess poor judgement on our part with cards in the past, we paid interest and sometimes fees - but no lates ever. I think we were good canidates for giving lots of credit as we look like low risk/medium to high reward. But now its my turn to make money off of them.

Re: What's the most # of new accounts you've opened

bridgetkaryn — Wed, 11 Feb 2009 20:13:35 GMT

Wow.. CreditCardWhore that is impressive.. I have heard about people doing that but never met anyone who did... I would be afraid that I would forget to pay it all off!

Back to the topic... Just counted it out and since 5/1/2008 I have had:

10 New Credit Cards (Don't worry I stopped... I was rebuilding... time to garden/Groom/Prune)

2- Auto Refi

1- New Car

3 Student Loans (I am in Grad School... Graduate in May!)