topic Re: 11 credit cards! in General Credit Topics

11 credit cards!

Anonymous — Wed, 12 Nov 2008 21:13:45 GMT

i am 19 years old and right now i'm having about 6 store credit cards and 5 credit cards with each reporting $0 balance on each card.is this strategy going to help my score?

11 credit card tottal.

Re: 11 credit cards!

llecs — Wed, 12 Nov 2008 21:39:26 GMT

Your AAoA is real low I bet. Adding any more cards would only hurt you in the short-term. I'd sit it out and let them age.

Re: 11 credit cards!

wmarat — Wed, 12 Nov 2008 23:38:58 GMT

I have 8 CC and 7 store cards. I keep my store cards always at $0 balance and let report low balance on 1-2 CC.

Re: 11 credit cards!

Anonymous — Thu, 13 Nov 2008 02:58:37 GMT

I would not open more cards, if it were me i would charge small amounts on a few a month, PIF and ask for increase every few months. Also if you could get a realative to add you as AU on an old account it likely help your score

Re: 11 credit cards!

future — Thu, 13 Nov 2008 14:37:14 GMT

@Anonymous wrote:
I would not open more cards, if it were me i would charge small amounts on a few a month, PIF and ask for increase every few months. Also if you could get a realative to add you as AU on an old account it likely help your score

AU is no longer factored in with fico

@Anonymous wrote:
I would not open more cards, if it were me i would charge small amounts on a few a month, PIF and ask for increase every few months. Also if you could get a realative to add you as AU on an old account it likely help your score

Re: 11 credit cards!

Anonymous — Thu, 13 Nov 2008 14:57:15 GMT

future wrote:
AU is no longer factored in with fico

FICO announced it would be.