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

[Anonymous]

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@ddemari wrote:
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.

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I agree...

[SouthJamaica]

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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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I hate to say it but I think visiting the MyFICO forum encourages addictive behavior.

All these reports of 'slam dunk' approvals, the 'shopping cart trick', great CLI's,  "recons" etc, are reinforcing your addictive behavior, as if the banks are giving out candy canes -- rather than merely giving you an opportunity to pay them interest and fees.

My advice is to stop visiting this forum.

[kdm31091]

I'm glad someone agrees with my line of thought. @southjamaica

[ddemari]

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I hate to say it but I think visiting the MyFICO forum encourages addictive behavior.

All these reports of 'slam dunk' approvals, the 'shopping cart trick', great CLI's,  "recons" etc, are reinforcing your addictive behavior, as if the banks are giving out candy canes -- rather than merely giving you an opportunity to pay them interest and fees.

My advice is to stop visiting this forum.

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I don't want to stir up anymore debates but OP has a 6 month credit profile, the banks are not going to hand out credit lines like crazy to him or her. The forums may have sparked some apping in me, but realistically we all need to know that each person is going to have a different outcome and the data threads on here are such a small segment of the population. Op in my opinion does not need to stay away from the forums but instead understand the basics of managing credit. 

[SouthJamaica]

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@kdm31091 wrote:
@I'm glad someone agrees with my line of thought. @SouthJamaica

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Well I'm speaking from experience, because this forum has keeps giving me absurd urges to apply for things This is NOT an appropriate hobby

[SouthJamaica]

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@ddemari wrote:

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I hate to say it but I think visiting the MyFICO forum encourages addictive behavior.

All these reports of 'slam dunk' approvals, the 'shopping cart trick', great CLI's,  "recons" etc, are reinforcing your addictive behavior, as if the banks are giving out candy canes -- rather than merely giving you an opportunity to pay them interest and fees.

My advice is to stop visiting this forum.

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I don't want to stir up anymore debates but OP has a 6 month credit profile, the banks are not going to hand out credit lines like crazy to him or her. The forums may have sparked some apping in me, but realistically we all need to know that each person is going to have a different outcome and the data threads on here are such a small segment of the population. Op in my opinion does not need to stay away from the forums but instead understand the basics of managing credit. 

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"Understanding the basics of managing credit" is no antidote to addictive behavior, any more than understanding the detrimental effects of smoking or heroin or gambling or alcohol gets people to stop partaking in them.

[Anonymous]

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@ddemari wrote:

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I hate to say it but I think visiting the MyFICO forum encourages addictive behavior.

All these reports of 'slam dunk' approvals, the 'shopping cart trick', great CLI's,  "recons" etc, are reinforcing your addictive behavior, as if the banks are giving out candy canes -- rather than merely giving you an opportunity to pay them interest and fees.

My advice is to stop visiting this forum.

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I don't want to stir up anymore debates but OP has a 6 month credit profile, the banks are not going to hand out credit lines like crazy to him or her. The forums may have sparked some apping in me, but realistically we all need to know that each person is going to have a different outcome and the data threads on here are such a small segment of the population. Op in my opinion does not need to stay away from the forums but instead understand the basics of managing credit. 

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I couldn't agree more with your post and I think the day OP join MyFico is being overlooked which is TODAY-  So I don't know how taking a break will make a huge difference.

[ddemari]

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@SouthJamaica wrote:

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@ddemari wrote:

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I hate to say it but I think visiting the MyFICO forum encourages addictive behavior.

All these reports of 'slam dunk' approvals, the 'shopping cart trick', great CLI's,  "recons" etc, are reinforcing your addictive behavior, as if the banks are giving out candy canes -- rather than merely giving you an opportunity to pay them interest and fees.

My advice is to stop visiting this forum.

---

I don't want to stir up anymore debates but OP has a 6 month credit profile, the banks are not going to hand out credit lines like crazy to him or her. The forums may have sparked some apping in me, but realistically we all need to know that each person is going to have a different outcome and the data threads on here are such a small segment of the population. Op in my opinion does not need to stay away from the forums but instead understand the basics of managing credit. 

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"Understanding the basics of managing credit" is no antidote to addictive behavior, any more than understanding the detrimental effects of smoking or heroin or gambling or alcohol gets people to stop partaking in them.

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I would totally think that if someone who is 18 and feels addicted to credit card apps knew the basics of managing credit, then they would not be flustered and afraid of racking up more debt and getting cards they can't afford. 

If this was in relation to drugs, an addict is going to do whatever they can to get their fix. I can say im addicted to apping for cards but it's not giving me meth mouth or runing my personal life lol. At 18, I was very very blissfully unaware of credit card traps and tricks. OP clearly has been turned on to the ability of applying for cards since they have become legal. Nothing in the forums is sparking their craving. 

[ddemari]

If op does not need to understand the basics of credit but instead stay away from chat about credit cards, op should stay away from gmail, too. 

PenFed would never give me this card but they send me this email daily. This gives me just as much thought of apping as if I read on the forums someone getting approved for it. But instead, the forums have taught me that this card is not for me because of their strict underwriting. 

[Anonymous]

You could also "freeze" your credit reports so that no new lenders will have access to your reports and thus you won't receive any new CC's or suffer anymore HP's. There are plenty of people who freeze their reports for your exact reason: they want to stop apping for new CC's.
Another option you can do is, stop apping for new CC's and instead, try and improve the CL's on the cards you currently have and plan to keep. While this probably isn't as much "fun" as apping, it can help a bit with your "fix".
You definitely don't want to continue apping, just for the sake of apping. You'll end up with alot of "junk cards" and you'll lose opportunities to app for really good, quality, cards that you really want or need. The INQ's from these garbage cards will hurt your chances of approvals on many of the quality cards. You definitely need to take control. Stay off this site and any other credit site if you need to. It's definitely something you need to control. Good luck.