I can't stop applying for credit cards. Please help!!!

[Jpmack29]

I was the same way when I started. But those inquiries hurt me along with declines both lowering my scores. I stopped and evaluated the bigger pictures and long term goals. From then on I was able to control myself, and budgeting helps, I lookk at my credit card sl as not a whole amount anymore, I look at it as I can only spend 10-15% percent of that cards amount a month. I know I can afford it and not hurt my utilization. I still have urges, but I'm able to control them better now vs before. Having outlets that take up your time besides credit forums help as well. Good luck 

[Anonymous]

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@Anonymous wrote:

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@Anonymous wrote:

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@kdm31091 wrote:

To be honest, yes the garden thread can help, but plenty of "future app talk" sneaks in there. Some people benefit from this site and others find it too much of a temptation. It seems you are the latter.

I do not want to scare you off but realistically, it's better to take a break from this site (temporary or permanent) and as TRC said honestly seek some help. Credit cards can be an addiction just like anything else. Some members here have realized this and laid off the site and/or apps. Some still are addicted unfortunately.

You can have a good credit score and history with only a few cards. You do not need to obtain 20 or 30 cards for that purpose. You will see people with that many on here, but it's a personal choice rather than something needed for good credit.

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I don't know if you notice but OP just joined the site.  Also, people are able to resist temptation where a group of people are with the same expectation and goal with a strong example as MyFico.  Not just in the garden thread but life in general.

So if OP just joined the site and needs help, asking OP to take a break from the site does not help.  Reading and properly educating oneself on credit may just do the opposite.

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I have to agree with Yes-Its-Me on this one. I have had pretty much the same issue as the OP, just slightly different. After going so many years with nothing but denials it felt so good to finally be approved for something. And believe it or not, it's coming to this site that has helped me realize the consequences of frequent apping and has also helped me not get in over my head. I have learned so much from this site, and while seeing the approvals of others can be tempting at times, all it takes is reading about someone's denial or issue they are having to snap me back to reality. My advice would be to stay away from the approvals section, but not stay away from this site. There is too much info on this site that anyone rebuilding, or is new to credit, needs to know. IMO it's better to learn from the mistakes and wisdom of others than to have to learn things the hard way.

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Very well said-

[kdm31091]

That's a good point too. At least staying out of approvals is probably for the best. You can often get reality checks when you see the consequences of people over apping, so in that sense the forum can help you NOT be tempted... Good points

[newhis]

I'm still learning here but, if we freeze our reports then we can't get new cards even if we apply right? Maybe that will help?

[Kb109]

Many here can relate! One (extreme) thing you could do is have each of the three credit bureaus put a freeze on your files so you won't be able to apply for any new credit. Once your accounts have aged and you think you're ready to apply for a car loan, mortgage, or other cards, they can unfreeze them for you.

[ddemari]

Op- the positive is you have some good cards. The secured discover it can grow as long as u resist using it as a means for racking up charges. The cap 1 journey can be converted down the road to a better cap 1 card. It took me several years to recover from my bankruptcy in 2004 at the age of 19. Back then u could get 10k limits with a 25k salary. I racked up debt and couldnt even breathe. It sounds like your finances cant be too out
Of control with those cards. Stop using them and apply the snowball method to pay off the cards, smallest balances first and keep going.

I LOVE to app for the rush of approval but eventually the approvals become lackluster and then stop. Its a batttle for me to not apply every day for cards but ive learned its better to focus on current cards so down the road u can get better cards.

[Anonymous]

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@ddemari wrote:
Op- the positive is you have some good cards. The secured discover it can grow as long as u resist using it as a means for racking up charges. The cap 1 journey can be converted down the road to a better cap 1 card. It took me several years to recover from my bankruptcy in 2004 at the age of 19. Back then u could get 10k limits with a 25k salary. I racked up debt and couldnt even breathe. It sounds like your finances cant be too out
Of control with those cards. Stop using them and apply the snowball method to pay off the cards, smallest balances first and keep going.

I LOVE to app for the rush of approval but eventually the approvals become lackluster and then stop. Its a batttle for me to not apply every day for cards but ive learned its better to focus on current cards so down the road u can get better cards.

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Good point! Thanks so much for the advice 

[Anonymous]

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@Anonymous wrote:

Thanks for the reply!

So far I've been able to pay off my debt because i dont charge what i cant pay back, but thats not the real problem, its that i cant stop applying for new credit, like when i go to the mall and the offer me a new cc in every store, I'm like an idiot "oh yeah sure" and there it goes another denial and another hard pull. And whenever im online i take a look to new credit cards and apply......... I seriously need to stop, but i dont know how. And the worst thing is that I'm ruining what takes a lot of time to build up. Its so frustrating

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I grok this. I did the same thing when I was young. Had a stack of cards a foot thick, including every conceivable store card. That mess culminated in a bankruptcy in 1982. Be careful.

[Anonymous]

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@Anonymous wrote:

As soon as I turned 18 years old (Dec 2014), somebody told me about credit and how important it is for your financial life, but now I'm obsessed with it and can't control myself when applying for credit cards. I have had two secured cc for six months and my FICO socre is now 640, but it's going down and down because of the inquiries of new applications. Now I have a EXPRESSNEXT cc and a JOURNEY cc from Capital One for college students, also a new secured cc from Dicover, the thing is that my debt is increasing and I'm afraid of not being able to pay it back and mess up my credit completely. I don't know what to do, I just can't stop applying for new credit.

PLEASE HELP! ANYONE WITH THE SAME PROBLEM? I don't really think so because I'm obesessed with this. 

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Having available credit is a good thing.  How you manage it seems to be your issue.  You need to look around here on the forum and see how others are managing their extensive credit lines.  You have to have the willpower to say no, I'm going to be responsible and do the RIGHT thing.  Once you educate yourself on the good, the bad and the ugly, you will have a better understanding of just what you need to do.  If you treat your credit right, it will reward you in the future.  Just take a step back right now.  Do some reading around here.  You'll see what I'm talking about.    And remember, no one can do it for you.  Good luck, you can handle this!  

[ddemari]

I completely agree, having credit available to you is a good thing, the problem when you are young is you dont really realize how quick debt can rack up and if u are always revolving a balance, u are never in a grace period and u get into a cycle of feeling ok with making minimum payments until u need to use your cash in replace of credit and cant make your payments. Id make a list like this-
Card 1 - balance - limit- apr
Card 2 - balance - limit - apr

Ans so on so u know exactly where u stand and can strategize a payment plan. Once u have a plan, u will feel better. Take 6 months to work on your debt and by january 16 u will be in a great position to move forward.