Too many, too soon...?

[Anonymous]

I’ve recently applied, and approved for several credit cards. My credit utilization is very low, but mostly pay them in full monthly. My credit scores are in the 7’s, home owner, truck paid off. Over last six months have acquired: Chase sapphire preferred, Citi premier, Citi DC, AMEX Platinum, and AMEX bcp, bofa premium rewards, and bofa cash rewards, Capital one Quicksilver, Discover it, and lastly Wells Fargo Propel. I have older cards that I’ve had for 20 years, but these are in the l6 months. My question is this... With so many, so soon, am I running the risk of account closure, even though I mainly pay them off monthly? Am I making them nervous?

[simplynoir]

Getting 10 cards in a six month period if you hadn't gotten any adverse action I would think you probably won't get any if you keep up PIF in a prompt manner. Having said that I would strongly advise on not getting any more cards for at least six months, much more preferably twelve months because any more may create a domino effect as a worst case scenario for closures.

[Anonymous]

I got carried away lol. I certainly will not be applying for another for awhile. I just didn’t want them pulling the plug. I’ve never had baddies, just got caught up in the bonuses. Thanks for your reply.

[Remedios]

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@Anonymous wrote:
I’ve recently applied, and approved for several credit cards. My credit utilization is very low, but mostly pay them in full monthly. My credit scores are in the 7’s, home owner, truck paid off. Over last six months have acquired: Chase sapphire preferred, Citi premier, Citi DC, AMEX Platinum, and AMEX bcp, bofa premium rewards, and bofa cash rewards, Capital one Quicksilver, Discover it, and lastly Wells Fargo Propel. I have older cards that I’ve had for 20 years, but these are in the l6 months. My question is this... With so many, so soon, am I running the risk of account closure, even though I mainly pay them off monthly? Am I making them nervous?

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@Anonymous  Hi and welcome 

I dont think anyone can tell you what will or wont happen. 

Excessive credit seeking can lead to closure with some lenders, while others dont seem to care as much. 

I would not worry about it too much because it's already done. You cant change it. Best you can do is stop applying for a new credit. 

Let your accounts age and lay low. You should be fine. 

Out of curiosity, did you manage to get all the SUBs? 

[Anonymous]

I actually did. Kinda silly though looking back. It certainly did increase monthly spending. I specifically wanted the AMEX Platinum for a big vacation. So that one wasn’t too hard to accomplish. It was a grind on the others lol.

[simplynoir]

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@Anonymous wrote:
I actually did. Kinda silly though looking back. It certainly did increase monthly spending. I specifically wanted the AMEX Platinum for a big vacation. So that one wasn’t too hard to accomplish. It was a grind on the others lol.

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When making the spend on all these cards for the SUBs did you at least let a balance report to the bureaus to show use?

[M_Smart007]

" Am I making them nervous? "

I do not know, But you are making Me Nervous.

Post #2 in this thread, is what i'd go with!!!

[Anonymous]

I do yes. I’m my original post, I added that I mostly pay them in full monthly. I let a small balance reflect monthly. Trying to get in the 800’s

[simplynoir]

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@Anonymous wrote:
I do yes. I’m my original post, I added that I mostly pay them in full monthly. I let a small balance reflect monthly. Trying to get in the 800’s

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Sorry, I should have asked my question differently it's been a long morning for me. What I mean is let's say you had a $20k limit card and charged $5k of it in a month. Did you let the entire limit report a balance, a portion of it, or depending on the card with you praticing AZEO paid it in full before the statement generated?

[Anonymous]

I would let a portion show depending on the card, and never really let utilization show very high. Cards that I have like chase, and Citi didn’t have an introductory 0% APR, so I always paid them before it posted. Not sure if I’m doing this correctly or not. Didn’t want interest eating the perks of the bonuses