topic Re: How many credit cards in Credit Cards

How many credit cards

Anonymous — Mon, 30 Jun 2008 05:29:14 GMT

just curious to know, how many credit cards does everyone have and how many is too many? thanks just curious. oh also, is there such a thing as losing points for having to many credit cards?

Re: How many credit cards

Anonymous — Mon, 30 Jun 2008 06:53:48 GMT

I would say somewhere between four and ten is optimal. Any less than that, and you're not going to get the best effect on your score from having accounts paid on time. More than that...well, FICO won't necessarily punish you, but I might need medication if I had to keep track of sixteen pay-by dates each month.

Re: How many credit cards

Anonymous — Mon, 30 Jun 2008 12:12:53 GMT

Re: How many credit cards

Anonymous — Mon, 30 Jun 2008 13:36:57 GMT

I have 12. It seems kinda excessive to me, but when I think about closing some of them, I realize it wouldn't accomplish anything.

Re: How many credit cards

Anonymous — Mon, 30 Jun 2008 17:03:37 GMT

I have 5 bank and 3 store credit cards.

Message Edited by psychic on 06-30-2008 10:03 AM

Re: How many credit cards

Anonymous — Mon, 30 Jun 2008 14:55:16 GMT

I have 7 bank cards and 2 store cards.

Re: How many credit cards

Anonymous — Mon, 30 Jun 2008 15:04:58 GMT

9................(3) Amex, (2) MC, (2) Visa, 1 store card, 1 gas card.

I don' think there is a magic number when it comes to having too many card. Back in 1998, when I purchased my house, I had 31 cc's. Lawyer advised me to close a few. But, having 31 cards didn't hurt me then.

Re: How many credit cards

Anonymous — Mon, 30 Jun 2008 15:11:45 GMT

8 bank cards and 4 store cards.

Re: How many credit cards

Anonymous — Mon, 30 Jun 2008 17:06:37 GMT

@Anonymous wrote:
9................(3) Amex, (2) MC, (2) Visa, 1 store card, 1 gas card.

I don' think there is a magic number when it comes to having too many card. Back in 1998, when I purchased my house, I had 31 cc's. Lawyer advised me to close a few. But, having 31 cards didn't hurt me then.

31? Holy crap. And I thought I had a lot.

Re: How many credit cards

Anonymous — Mon, 30 Jun 2008 17:08:44 GMT

@Anonymous wrote:

@Anonymous wrote:

9................(3) Amex, (2) MC, (2) Visa, 1 store card, 1 gas card.

I don' think there is a magic number when it comes to having too many card. Back in 1998, when I purchased my house, I had 31 cc's. Lawyer advised me to close a few. But, having 31 cards didn't hurt me then.

31? Holy crap. And I thought I had a lot.

I predict that will be me in about 3 years, at this rate.

Re: How many credit cards

Anonymous — Mon, 30 Jun 2008 17:12:48 GMT

@Anonymous wrote:

@Anonymous wrote:

@Anonymous wrote:

9................(3) Amex, (2) MC, (2) Visa, 1 store card, 1 gas card.

I don' think there is a magic number when it comes to having too many card. Back in 1998, when I purchased my house, I had 31 cc's. Lawyer advised me to close a few. But, having 31 cards didn't hurt me then.

31? Holy crap. And I thought I had a lot.

I predict that will be me in about 3 years, at this rate.

LOL - when I was 21 I had something like 17. Insane. They all had balances (think using the Amoco card to buy groceries). I had WAY too many store cards. But, oh was I proud of that 5k First USA Visa -- that went into collections and make its way to 10k before I finally dealt with it.

Re: How many credit cards

Anonymous — Mon, 30 Jun 2008 17:56:45 GMT

i have 4 revolving accts now. cap1, orchard, discover, and hsbc acct that i opened to finance my laptop through gateway. the last one will probably never be used again.

2 was good for me for a while. but i realize if one little thing is new on my report it throws my score off quite a bit because i don't have a lot of accts. Just got the discover and will probably wait to apply for a chase or amex til next year. then i'll be done.

Re: How many credit cards

Creditaddict — Mon, 30 Jun 2008 18:27:03 GMT

27-30 Personal

29 Business

Re: How many credit cards

msheresy — Mon, 30 Jun 2008 20:09:14 GMT

I currently have 5

cap1

amex

hsbc

macys - store

bloomingdales - store

I may receive more? I sent some recon letters for a few that I was denied for but I havnt applied for anything else since checking into the center.

Message Edited by msheresy on 06-30-2008 04:09 PM

Re: How many credit cards

Anonymous — Mon, 30 Jun 2008 19:51:27 GMT

I have 9 and I'm tired of all of them.

Re: How many credit cards

Anonymous — Mon, 30 Jun 2008 19:52:35 GMT

Well make that 10. I forgot about Crap One!

Re: How many credit cards

techgirl — Mon, 30 Jun 2008 22:24:11 GMT

5 (3 CU) (1 BoA) and just acquired Chast Continental.

Re: How many credit cards

haulingthescoreup — Tue, 01 Jul 2008 00:02:28 GMT

Was 5.

Now 12.

In the process of be pruning down to probably 8:

3 CU CC's
3 bank CC's
1 store card
1 AU card (for the long history)

Re: How many credit cards

fused — Tue, 01 Jul 2008 00:27:26 GMT

I have 7 open revolving accounts:

7 cards

Amex Blue

Chase Visa

Discover Motiva

FIA Visa

First Hawaiian Visa

Macy's Gold

1 line of credit

BoA unsecured

Re: How many credit cards

HornsFan — Tue, 01 Jul 2008 00:31:46 GMT

I have one Orchard bank card, had a chase but they decided to close it on me....going to apply for an amex blue and maybe a discover in the next few weeks after this round of disputes comes back...what are other good cards to apply for? My experian score is now 736....TIA nate.