topic Re: Help me Stop! (please...) in Credit Cards

Help me Stop! (please...)

Anonymous — Fri, 22 Feb 2013 03:40:01 GMT

Hello All!

I've been a lurker for a while and finally decided to join... mainly because I need help/motivation/"tough love" to stop applying for credit.

Prior to my recent "spree" I had/did the following:

-Citi Dividend (since 5/2008): $0/$3800

-Wells Fargo Home Visa - Joint Account (since 8/2009): $0/$6200

-Sunoco/Citi Gas Card (since 10/2010): $0/$750

-Chase Freedom (since 7/2011): $0/$1000

-Barclay Apple (since 7/2011): $200/$2400 (0% interest for iPad)

-AMEX Zync (since 7/2011): NPSL

-Best Buy Rewards Mastercard (since 5/2012):$0/$1500

Then got my score from myFico (665) and this happened:

-Chase Freedom: $0/$5500 (increased)

-AMEX BCE: $10,000 (for gas/groceries) (Experian Score of 770??)

-AMEX Hilton: $3,900 (few vacations planned)

-Chase Sapphire Preferred: $15,000 (rewards)

-Citi Simplicity: $11,700 (0% interest for 18 months)

-Barclay Ring: Pending...

For some reason I'm so tempted to get the Discover It... why, just a rush plus the rewards. Do I need them, nope. Want them, yes.

Can anyone help me say "no" and enter the garden? Any solid reasoning why I shouldn't other than way to map HPs on my report?

Thanks!

Re: Help me Stop! (please...)

Anonymous — Fri, 22 Feb 2013 03:44:12 GMT

Put down the phone and step slowly away from the computer. keep those hands where they can be seen.

Everything will be okay, one step back away at a time, then another.

Easy does it, no sudden moves.

Re: Help me Stop! (please...)

_jb_ — Fri, 22 Feb 2013 03:49:17 GMT

Here is what I did (and I don't have nearly as many cards as you). I made a spreadsheet that shows all of my cards, their limits, their annual fees, minimum spending needed for signup bonus/annual fee, and then quarterly best use of each card. I also make a note of any cards that are currently 0% APR in case I do need to carry a balance over at some point. By doing this, I realized that I realistically only need to carry about 3-4 cards to maximize my rewards, and just swap out as rewards change. Makes it so much simpler.

I want to pick up an AmEx BCP, and PC my Amazon.com Rewards card to the Chase Freedom (if they will let me) after I spend at least 6 months in the garden, and I will be all set. See ya in the Garden.

Re: Help me Stop! (please...)

myjourney — Fri, 22 Feb 2013 03:50:00 GMT

Good Angel on shoulder says ....Don't give in to temptation go to the garden and watch your plants Grow (CLI's)

Re: Help me Stop! (please...)

Anonymous — Fri, 22 Feb 2013 03:51:39 GMT

You have 13 CC. No respectable person has more than 13 CC. Be sure to close one before your next Application.

Re: Help me Stop! (please...)

jakemod1 — Fri, 22 Feb 2013 03:55:48 GMT

Just ask yourself, once I apply and get approved for the card, then what? And how would I feel if I get denied? I think the instant gratification from getting approved for a card is what you are craving. But what happens after the fact? Thats what I ask myself before I get tempted to apply for a card...at least in the meantime I just find reasons to scare myself from applying.

Re: Help me Stop! (please...)

Anonymous — Fri, 22 Feb 2013 15:18:34 GMT

Thank you all for the replies... to the garden I got...

Re: Help me Stop! (please...)

ObeyJohnny12 — Fri, 22 Feb 2013 15:22:05 GMT

Pull up your reports and see the damage it's gone through. Ask yourself if you want your score to continue dropping. (of course it should bump up within a few months)

I know the rush of being approved and it feels good but try to hold yourself and let your current and new cards grow. You have enough credit not to mention some pretty cool cards.

Re: Help me Stop! (please...)

Duncanrr — Fri, 22 Feb 2013 16:05:27 GMT

Apping makes you fat.

Re: Help me Stop! (please...)

Anonymous — Fri, 22 Feb 2013 16:06:33 GMT

I knew there was a reason I was gaining weight! Gardening is good exercise apparently.

Re: Help me Stop! (please...)

dodfire — Fri, 22 Feb 2013 16:09:43 GMT

And hey, if you get all of the cards now......you will have nothing to look forward to later!!!

Re: Help me Stop! (please...)

LS2982 — Fri, 22 Feb 2013 17:09:05 GMT

CONGRATS on your nice approvals!!!

Re: Help me Stop! (please...)

tmbr10 — Fri, 22 Feb 2013 19:13:16 GMT

You have received some nice cards and limits while having a mediocre FICO score of 665. Congrats. The Barclays card may be signaling that the run is coming to a close as they all do. It appears that you have enough cards to keep you busy with management for the next two years when all the inquires will be gone.

If the temptation is REALLY that hard for you then I suggest putting a few charges on all of them and see how dealing with the monthly payments coming from all directions hits you

@Anonymous wrote:
Hello All!

I've been a lurker for a while and finally decided to join... mainly because I need help/motivation/"tough love" to stop applying for credit.

Prior to my recent "spree" I had/did the following:
-Citi Dividend (since 5/2008): $0/$3800
-Wells Fargo Home Visa - Joint Account (since 8/2009): $0/$6200
-Sunoco/Citi Gas Card (since 10/2010): $0/$750
-Chase Freedom (since 7/2011): $0/$1000
-Barclay Apple (since 7/2011): $200/$2400 (0% interest for iPad)
-AMEX Zync (since 7/2011): NPSL
-Best Buy Rewards Mastercard (since 5/2012):$0/$1500

Then got my score from myFico (665) and this happened:
-Chase Freedom: $0/$5500 (increased)
-AMEX BCE: $10,000 (for gas/groceries) (Experian Score of 770??)
-AMEX Hilton: $3,900 (few vacations planned)
-Chase Sapphire Preferred: $15,000 (rewards)
-Citi Simplicity: $11,700 (0% interest for 18 months)
-Barclay Ring: Pending...

For some reason I'm so tempted to get the Discover It... why, just a rush plus the rewards. Do I need them, nope. Want them, yes.

Can anyone help me say "no" and enter the garden? Any solid reasoning why I shouldn't other than way to map HPs on my report?

Thanks!

Re: Help me Stop! (please...)

09Lexie — Fri, 22 Feb 2013 19:20:42 GMT

@tmbr10 wrote:
You have received some nice cards and limits while having a mediocre FICO score of 665. Congrats. The Barclays card may be signaling that the run is coming to a close as they all do. It appears that you have enough cards to keep you busy with management for the next two years when all the inquires will be gone.

If the temptation is REALLY that hard for you then I suggest putting a few charges on all of them and see how dealing with the monthly payments coming from all directions hits you
@Anonymous wrote:
Hello All!

I've been a lurker for a while and finally decided to join... mainly because I need help/motivation/"tough love" to stop applying for credit.

Prior to my recent "spree" I had/did the following:
-Citi Dividend (since 5/2008): $0/$3800
-Wells Fargo Home Visa - Joint Account (since 8/2009): $0/$6200
-Sunoco/Citi Gas Card (since 10/2010): $0/$750
-Chase Freedom (since 7/2011): $0/$1000
-Barclay Apple (since 7/2011): $200/$2400 (0% interest for iPad)
-AMEX Zync (since 7/2011): NPSL
-Best Buy Rewards Mastercard (since 5/2012):$0/$1500

Then got my score from myFico (665) and this happened:
-Chase Freedom: $0/$5500 (increased)
-AMEX BCE: $10,000 (for gas/groceries) (Experian Score of 770??)
-AMEX Hilton: $3,900 (few vacations planned)
-Chase Sapphire Preferred: $15,000 (rewards)
-Citi Simplicity: $11,700 (0% interest for 18 months)
-Barclay Ring: Pending...

For some reason I'm so tempted to get the Discover It... why, just a rush plus the rewards. Do I need them, nope. Want them, yes.

Can anyone help me say "no" and enter the garden? Any solid reasoning why I shouldn't other than way to map HPs on my report?

Thanks!

+1000!

Re: Help me Stop! (please...)

SpiceIslander — Fri, 22 Feb 2013 19:22:01 GMT

STOP before you hurt yourself!

You may be wading into the territory where you might start getting declined. Your inquiries are piling up and your AAA is plunging. If I were you, I'd let the accounts age (hit the garden) and not apply for at least a year. You have some great cards, I don't see Discover IT being a "needed" addition. Best wishes for whatever you choose to do. Congrats on your approvals!!!

Re: Help me Stop! (please...)

bbb3601 — Fri, 22 Feb 2013 21:45:20 GMT

Can't think of anything to add other than you have one of the most impressive lineup of cards I have seen!! Good job enjoy it!!

Re: Help me Stop! (please...)

distantarray — Fri, 22 Feb 2013 22:01:08 GMT

@Anonymous wrote:
You have 13 CC. No respectable person has more than 13 CC. Be sure to close one before your next Application.

EXCUSE ME?

Re: Help me Stop! (please...)

distantarray — Fri, 22 Feb 2013 22:02:02 GMT

Just put a freeze on your accounts so it'll cost you money next time you want to app, usually a nice deterrent.