topic Re: Concerned about new accounts in Credit Cards

Concerned about new accounts

SarcasticComputer — Tue, 16 Oct 2012 00:35:01 GMT

Looking through the forums it seems hit or miss on this topic. I recently opend about 6 new accounts in the past two months. Will the CCCs look at this very negatively? I am really afraid that my accounts will be either CLD or closed as a result. Anything I can do to make sure this doesn't happen. I am PIF on almost all the cards thus far. I am mostly afraid of AMEX. How are they on this topic. 4 of the 6 accounts were from them. LOL

Re: Concerned about new accounts

creditnocash — Tue, 16 Oct 2012 00:37:07 GMT

i wouldnt worry about it.

i have 6 new accounts and an installment loan. since june. no word yet.

amex was my last card though.

from what ive read as long as barclays wasnt your first you should be good.

and that bump in aaoa im sure helped

Re: Concerned about new accounts

Anonymous — Tue, 16 Oct 2012 00:37:27 GMT

I think since most of the cards were from them, you should be okay. Now if you start racking up balances on all of them it might be another story. Continue to PIF and keep Utilization down. In a year or so you will be ready to app for another 6 more

Re: Concerned about new accounts

SarcasticComputer — Tue, 16 Oct 2012 00:42:07 GMT

Thanks guys! I think I am okay. What do you think my chances are for CLIs. You think I will have trouble with all the new accounts. If not, when should I try for the CLIs? 61 days with Amex?

Re: Concerned about new accounts

jsickz32 — Tue, 16 Oct 2012 00:44:07 GMT

you'll be alright as long as you dont let your utl raised alot. i opened 15 account whitin 3 months and just got a warning from barclays but thats it and 3 card were from amex. my utl is at 1% and has been all this past months.

Re: Concerned about new accounts

LS2982 — Tue, 16 Oct 2012 00:45:54 GMT

@Anonymous wrote:
I think since most of the cards were from them, you should be okay. Now if you start racking up balances on all of them it might be another story. Continue to PIF and keep Utilization down. In a year or so you will be ready to app for another 6 more

Totally agree, keep the util. down and you'll be just fine!!!

Re: Concerned about new accounts

navigatethis12 — Tue, 16 Oct 2012 00:54:57 GMT

I opened ten new accounts with less than two years of history and no one said anything. When getting an increase I have been asked by two or three people why the new credit and I just told them I am trying to establish good credit while young. With zero balances always reporting, I don't see a problem coming.

Re: Concerned about new accounts

youngandcreditwrthy — Tue, 16 Oct 2012 00:59:51 GMT

Yall are making me want to open another Amex!!!! Lol

Re: Concerned about new accounts

SarcasticComputer — Tue, 16 Oct 2012 01:01:29 GMT

That's the thing. How could it be a problem if I keep zero balances. Right? I mean wouldn't that show that I am responsible?

Re: Concerned about new accounts

Anonymous — Tue, 16 Oct 2012 01:28:20 GMT

@jsickz32 wrote:
i opened 15 account whitin 3 months and just got a warning from barclays but thats it...

Re: Concerned about new accounts

LS2982 — Tue, 16 Oct 2012 01:31:07 GMT

@Anonymous wrote:
@jsickz32 wrote:
i opened 15 account whitin 3 months and just got a warning from barclays but thats it...

He bribed Barclays not to shut the card down

Re: Concerned about new accounts

Anonymous — Tue, 16 Oct 2012 02:40:47 GMT

@jsickz32 wrote:
you'll be alright as long as you dont let your utl raised alot. i opened 15 account whitin 3 months and just got a warning from barclays but thats it and 3 card were from amex. my utl is at 1% and has been all this past months.

Just curious, what benefit do you see in having the AMEX green and PRG? I just got the green and keep wondering if i should have went with the gold for the sign up bonus

Re: Concerned about new accounts

jsickz32 — Tue, 16 Oct 2012 02:57:18 GMT

@Anonymous wrote:
@jsickz32 wrote:
you'll be alright as long as you dont let your utl raised alot. i opened 15 account whitin 3 months and just got a warning from barclays but thats it and 3 card were from amex. my utl is at 1% and has been all this past months.
Just curious, what benefit do you see in having the AMEX green and PRG? I just got the green and keep wondering if i should have went with the gold for the sign up bonus

i just wanted to have both thats it.

Re: Concerned about new accounts

Anonymous — Tue, 16 Oct 2012 03:05:29 GMT

good answer!

Re: Concerned about new accounts

jsickz32 — Tue, 16 Oct 2012 03:07:51 GMT

@Anonymous wrote:
good answer!

lol i mean i got 9 months to decide if i wanna pay the AFs for both but until then i like seeing green and goldpr on my wallet

Re: Concerned about new accounts

Anonymous — Tue, 16 Oct 2012 03:14:31 GMT

@SarcasticComputer wrote:
That's the thing. How could it be a problem if I keep zero balances. Right? I mean wouldn't that show that I am responsible?

No, it would not.

Being responsible means paying the nut on each card on time, every time.

Owing nothing means nothing in credit card world. But if you're actually using those cards, and not just for a stick of gum every so often, and you're paying them off in full each and every month for a while,...then, that's something.

Re: Concerned about new accounts

Anonymous — Tue, 16 Oct 2012 03:22:04 GMT

@jsickz32 wrote:
@Anonymous wrote:
good answer!
lol i mean i got 9 months to decide if i wanna pay the AFs for both but until then i like seeing green and goldpr on my wallet

Hey i'm not judging... lol

Re: Concerned about new accounts

Anonymous — Tue, 16 Oct 2012 04:10:24 GMT

@Anonymous wrote:
@SarcasticComputer wrote:
That's the thing. How could it be a problem if I keep zero balances. Right? I mean wouldn't that show that I am responsible?
No, it would not.

Being responsible means paying the nut on each card on time, every time.

Owing nothing means nothing in credit card world. But if you're actually using those cards, and not just for a stick of gum every so often, and you're paying them off in full each and every month for a while,...then, that's something.

Also, they LOVE interest. Throwing them a bone every now and then(not paying them off completely every time, But alaways on time!), goes a long way in getting trust with your cards....

Re: Concerned about new accounts

maiden_girl — Tue, 16 Oct 2012 04:17:41 GMT

I opened 6 new accounts in a 60 day period. I wouldn't worry now that you have them. It will affect your credit score now but after a few months to one year...the effects will have worn off.

Re: Concerned about new accounts

Anonymous — Tue, 16 Oct 2012 08:04:38 GMT

@Anonymous wrote:
@Anonymous wrote:
@SarcasticComputer wrote:
That's the thing. How could it be a problem if I keep zero balances. Right? I mean wouldn't that show that I am responsible?
No, it would not.

Being responsible means paying the nut on each card on time, every time.

Owing nothing means nothing in credit card world. But if you're actually using those cards, and not just for a stick of gum every so often, and you're paying them off in full each and every month for a while,...then, that's something.

Also, they LOVE interest. Throwing them a bone every now and then(not paying them off completely every time, But alaways on time!), goes a long way in getting trust with your cards....

Are you really encouraging someone to pay interest on a credit card?

Please don't do that. It's just...wrong. The CC companies make money from the merchants every time you use their card. They don't need to dig into your pockets for more.